Can I retire at age 62 with 841,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $841,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$69,449$68,830$68,227$67,638$67,063$65,816
2 years$34,381$33,740$33,120$32,518$31,935$30,684
3 years$22,693$22,050$21,431$20,835$20,261$19,044
4 years$16,850$16,209$15,596$15,010$14,450$13,277
5 years$13,345$12,708$12,103$11,529$10,985$9,859
6 years$11,009$10,377$9,781$9,220$8,692$7,614
7 years$9,342$8,715$8,128$7,580$7,069$6,040
8 years$8,091$7,470$6,893$6,359$5,864$4,883
9 years$7,120$6,504$5,937$5,416$4,939$4,005
10 years$6,343$5,733$5,176$4,669$4,208$3,322
11 years$5,707$5,104$4,557$4,063$3,619$2,779
12 years$5,178$4,581$4,044$3,564$3,136$2,340
13 years$4,731$4,140$3,613$3,147$2,735$1,982
14 years$4,348$3,763$3,247$2,793$2,397$1,687
15 years$4,016$3,437$2,931$2,491$2,111$1,441
16 years$3,726$3,154$2,658$2,230$1,865$1,235
17 years$3,470$2,905$2,418$2,004$1,654$1,061
18 years$3,243$2,684$2,208$1,806$1,471$914
19 years$3,041$2,487$2,021$1,632$1,311$789
20 years$2,858$2,311$1,855$1,478$1,171$682
21 years$2,694$2,153$1,706$1,341$1,048$590
22 years$2,544$2,010$1,572$1,220$939$511
23 years$2,408$1,880$1,452$1,111$843$444
24 years$2,283$1,761$1,343$1,013$758$385
25 years$2,168$1,653$1,244$925$682$335
26 years$2,063$1,553$1,153$846$614$291
27 years$1,965$1,462$1,071$774$554$253
28 years$1,874$1,378$996$709$500$220
29 years$1,790$1,300$926$651$451$192
30 years$1,712$1,227$863$597$408$167
31 years$1,639$1,160$805$548$369$146
32 years$1,570$1,098$751$504$333$127
33 years$1,506$1,040$701$463$302$111
34 years$1,446$985$655$426$273$97
35 years$1,389$935$612$393$247$84
36 years$1,336$887$573$362$224$73
37 years$1,285$842$536$333$203$64
38 years$1,238$801$502$307$184$56
39 years$1,193$761$470$283$167$49
40 years$1,150$724$441$261$152$43
41 years$1,109$689$413$241$137$37
42 years$1,071$657$388$222$125$32
43 years$1,034$626$364$205$113$28
44 years$999$596$342$189$103$25
45 years$966$569$321$175$93$22
46 years$934$543$301$162$85$19
47 years$904$518$283$149$77$16
48 years$875$494$266$138$70$14
49 years$848$472$250$128$63$13
50 years$821$451$235$118$58$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $841,000, adding $3,744 every year, while hoping to spend $51,592 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: 56/25/19 Blend
61$841,000$841,000$841,000$841,000
62$930,644$886,071$873,035$977,832
63$970,676$874,595$847,389$998,941
64$1,013,062$860,827$819,154$1,016,074
65$1,057,989$844,602$788,189$1,033,599
66$1,105,657$825,741$754,347$1,051,564
67$1,156,291$804,059$717,474$1,070,028
68$1,210,131$779,356$677,408$1,089,056
69$1,267,444$751,424$633,981$1,108,725
70$1,328,520$720,041$587,016$1,129,122
71$1,393,677$684,971$536,329$1,150,344
72$1,463,264$645,967$481,728$1,172,505
73$1,537,664$602,765$423,013$1,195,732
74$1,617,294$555,089$359,972$1,220,170
75$1,702,614$502,645$292,387$1,245,982
76$1,794,128$445,122$220,030$1,273,354
77$1,892,389$382,193$142,660$1,302,492
78$1,998,003$313,511$60,030$1,333,633
79$2,111,636$238,710$0$1,367,041
80$2,234,020$157,403$0$1,408,718
81$2,365,957$69,183$0$1,466,650
82$2,508,330$0$0$1,529,085
83$2,662,108$0$0$1,603,759
84$2,828,356$0$0$1,705,123
85$3,008,245$0$0$1,814,866
86$3,203,061$0$0$1,933,781
87$3,414,220$0$0$2,062,740
88$3,643,277$0$0$2,202,703
89$3,891,944$0$0$2,354,722
90$4,162,101$0$0$2,519,959
91$4,455,820$0$0$2,699,689
92$4,775,378$0$0$2,895,317
93$5,123,279$0$0$3,108,386
94$5,502,283$0$0$3,340,598
95$5,915,422$0$0$3,593,823
96$6,366,036$0$0$3,870,120
97$6,857,802$0$0$4,171,756
98$7,394,764$0$0$4,501,226
99$7,981,376$0$0$4,861,275
100$8,622,541$0$0$5,254,929