Can I retire at age 62 with 840,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$69,366$68,749$68,146$67,557$66,983$64,839
2 years$34,340$33,700$33,080$32,479$31,897$29,756
3 years$22,666$22,023$21,405$20,810$20,236$18,167
4 years$16,830$16,190$15,578$14,992$14,433$12,450
5 years$13,329$12,693$12,089$11,516$10,972$9,081
6 years$10,996$10,365$9,770$9,209$8,681$6,884
7 years$9,331$8,704$8,119$7,571$7,060$5,357
8 years$8,082$7,461$6,885$6,351$5,857$4,246
9 years$7,111$6,496$5,930$5,410$4,933$3,412
10 years$6,335$5,726$5,170$4,663$4,203$2,770
11 years$5,700$5,098$4,552$4,059$3,615$2,267
12 years$5,172$4,575$4,039$3,560$3,132$1,868
13 years$4,725$4,135$3,609$3,143$2,731$1,546
14 years$4,342$3,758$3,243$2,790$2,394$1,286
15 years$4,011$3,433$2,928$2,488$2,108$1,072
16 years$3,722$3,150$2,654$2,228$1,863$897
17 years$3,466$2,901$2,415$2,002$1,652$752
18 years$3,240$2,681$2,205$1,804$1,469$632
19 years$3,037$2,484$2,019$1,630$1,309$531
20 years$2,855$2,309$1,853$1,476$1,169$448
21 years$2,690$2,150$1,704$1,340$1,047$377
22 years$2,541$2,007$1,570$1,218$938$319
23 years$2,405$1,877$1,450$1,109$842$269
24 years$2,280$1,759$1,341$1,012$757$227
25 years$2,166$1,651$1,242$924$681$192
26 years$2,060$1,551$1,152$845$613$163
27 years$1,963$1,460$1,070$773$553$138
28 years$1,872$1,376$994$709$499$117
29 years$1,788$1,298$925$650$451$99
30 years$1,710$1,226$862$596$407$84
31 years$1,637$1,159$804$548$368$71
32 years$1,568$1,096$750$503$333$60
33 years$1,504$1,038$700$463$301$51
34 years$1,444$984$654$426$273$43
35 years$1,387$933$612$392$247$37
36 years$1,334$886$572$361$224$31
37 years$1,284$841$535$333$203$26
38 years$1,236$800$501$307$184$22
39 years$1,191$760$470$283$167$19
40 years$1,148$723$440$261$151$16
41 years$1,108$689$413$241$137$14
42 years$1,069$656$387$222$125$12
43 years$1,033$625$363$205$113$10
44 years$998$596$341$189$103$8
45 years$965$568$320$175$93$7
46 years$933$542$301$161$85$6
47 years$903$517$283$149$77$5
48 years$874$494$266$138$70$4
49 years$847$471$250$127$63$4
50 years$820$450$235$118$58$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $840,000, adding $2,093 every year, while hoping to spend $46,242 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 76/19/5 Blend
61$840,000$840,000$840,000$840,000
62$927,839$883,319$870,299$997,920
63$973,277$877,400$850,253$1,038,305
64$1,021,801$869,642$827,985$1,076,385
65$1,073,675$859,905$803,373$1,116,759
66$1,129,191$848,042$776,288$1,159,637
67$1,188,669$833,896$746,594$1,205,248
68$1,252,459$817,303$714,150$1,253,845
69$1,320,946$798,087$678,810$1,305,708
70$1,394,552$776,062$640,420$1,361,146
71$1,473,739$751,033$598,818$1,420,499
72$1,559,018$722,791$553,835$1,484,144
73$1,650,947$691,116$505,297$1,552,496
74$1,750,138$655,776$453,020$1,626,013
75$1,857,268$616,524$396,811$1,705,201
76$1,973,075$573,100$336,471$1,790,619
77$2,098,376$525,230$271,790$1,882,882
78$2,234,065$472,620$202,549$1,982,673
79$2,381,126$414,965$128,522$2,090,742
80$2,540,642$351,940$49,468$2,207,918
81$2,713,803$283,200$0$2,335,118
82$2,901,918$208,384$0$2,475,214
83$3,106,427$127,108$0$2,630,398
84$3,328,913$38,967$0$2,799,273
85$3,571,121$0$0$2,983,216
86$3,834,967$0$0$3,195,548
87$4,122,563$0$0$3,435,901
88$4,436,232$0$0$3,698,074
89$4,778,529$0$0$3,984,208
90$5,152,269$0$0$4,296,660
91$5,560,551$0$0$4,638,021
92$6,006,783$0$0$5,011,150
93$6,494,722$0$0$5,419,189
94$7,028,500$0$0$5,865,601
95$7,612,671$0$0$6,354,197
96$8,252,245$0$0$6,889,174
97$8,952,744$0$0$7,475,155
98$9,720,244$0$0$8,117,229
99$10,561,441$0$0$8,821,002
100$11,483,706$0$0$9,592,649