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%19.9%
1 years$69,366$68,749$68,146$67,557$66,983$64,325
2 years$34,340$33,700$33,080$32,479$31,897$29,252
3 years$22,666$22,023$21,405$20,810$20,236$17,688
4 years$16,830$16,190$15,578$14,992$14,433$12,000
5 years$13,329$12,693$12,089$11,516$10,972$8,661
6 years$10,996$10,365$9,770$9,209$8,681$6,494
7 years$9,331$8,704$8,119$7,571$7,060$4,996
8 years$8,082$7,461$6,885$6,351$5,857$3,913
9 years$7,111$6,496$5,930$5,410$4,933$3,106
10 years$6,335$5,726$5,170$4,663$4,203$2,490
11 years$5,700$5,098$4,552$4,059$3,615$2,012
12 years$5,172$4,575$4,039$3,560$3,132$1,635
13 years$4,725$4,135$3,609$3,143$2,731$1,336
14 years$4,342$3,758$3,243$2,790$2,394$1,095
15 years$4,011$3,433$2,928$2,488$2,108$900
16 years$3,722$3,150$2,654$2,228$1,863$742
17 years$3,466$2,901$2,415$2,002$1,652$613
18 years$3,240$2,681$2,205$1,804$1,469$507
19 years$3,037$2,484$2,019$1,630$1,309$420
20 years$2,855$2,309$1,853$1,476$1,169$349
21 years$2,690$2,150$1,704$1,340$1,047$290
22 years$2,541$2,007$1,570$1,218$938$241
23 years$2,405$1,877$1,450$1,109$842$200
24 years$2,280$1,759$1,341$1,012$757$166
25 years$2,166$1,651$1,242$924$681$138
26 years$2,060$1,551$1,152$845$613$115
27 years$1,963$1,460$1,070$773$553$96
28 years$1,872$1,376$994$709$499$80
29 years$1,788$1,298$925$650$451$67
30 years$1,710$1,226$862$596$407$56
31 years$1,637$1,159$804$548$368$46
32 years$1,568$1,096$750$503$333$39
33 years$1,504$1,038$700$463$301$32
34 years$1,444$984$654$426$273$27
35 years$1,387$933$612$392$247$22
36 years$1,334$886$572$361$224$19
37 years$1,284$841$535$333$203$16
38 years$1,236$800$501$307$184$13
39 years$1,191$760$470$283$167$11
40 years$1,148$723$440$261$151$9
41 years$1,108$689$413$241$137$8
42 years$1,069$656$387$222$125$6
43 years$1,033$625$363$205$113$5
44 years$998$596$341$189$103$4
45 years$965$568$320$175$93$4
46 years$933$542$301$161$85$3
47 years$903$517$283$149$77$3
48 years$874$494$266$138$70$2
49 years$847$471$250$127$63$2
50 years$820$450$235$118$58$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $840,000, adding $4,551 every year, while hoping to spend $46,280 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: 54/35/11 Blend
61$840,000$840,000$840,000$840,000
62$930,374$885,854$872,834$977,760
63$976,031$880,020$852,833$1,004,608
64$1,024,793$872,348$830,610$1,028,400
65$1,076,930$862,700$806,043$1,053,212
66$1,132,734$850,930$779,002$1,079,149
67$1,192,527$836,880$749,353$1,106,332
68$1,256,663$820,386$716,955$1,134,892
69$1,325,531$801,272$681,661$1,164,981
70$1,399,554$779,353$643,315$1,196,766
71$1,479,200$754,433$601,758$1,230,434
72$1,564,982$726,305$556,821$1,266,196
73$1,657,464$694,747$508,328$1,304,287
74$1,757,263$659,528$456,095$1,344,967
75$1,865,061$620,401$399,931$1,388,530
76$1,981,603$577,107$339,635$1,435,303
77$2,107,711$529,370$274,997$1,485,649
78$2,244,288$476,899$205,800$1,539,973
79$2,392,326$419,387$131,814$1,598,729
80$2,552,915$356,510$52,803$1,662,418
81$2,727,257$287,924$0$1,731,601
82$2,916,672$213,266$0$1,810,601
83$3,122,610$132,153$0$1,903,264
84$3,346,670$44,182$0$2,004,190
85$3,590,608$0$0$2,114,268
86$3,856,360$0$0$2,254,152
87$4,146,053$0$0$2,425,261
88$4,462,030$0$0$2,611,970
89$4,806,868$0$0$2,815,813
90$5,183,405$0$0$3,038,476
91$5,594,766$0$0$3,281,817
92$6,044,389$0$0$3,547,882
93$6,536,061$0$0$3,838,923
94$7,073,950$0$0$4,157,417
95$7,662,648$0$0$4,506,097
96$8,307,208$0$0$4,887,967
97$9,013,196$0$0$5,306,339
98$9,786,743$0$0$5,764,858
99$10,634,599$0$0$6,267,540
100$11,564,199$0$0$6,818,809