Can I retire at age 62 with 844,000?

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 $844,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$69,697$69,076$68,470$67,879$67,302$65,121
2 years$34,503$33,861$33,238$32,634$32,048$29,872
3 years$22,774$22,128$21,507$20,909$20,333$18,229
4 years$16,910$16,267$15,652$15,064$14,502$12,486
5 years$13,393$12,753$12,146$11,570$11,024$9,103
6 years$11,049$10,414$9,816$9,253$8,723$6,897
7 years$9,375$8,746$8,157$7,607$7,094$5,364
8 years$8,120$7,497$6,918$6,382$5,885$4,249
9 years$7,145$6,527$5,958$5,436$4,956$3,412
10 years$6,365$5,753$5,195$4,686$4,223$2,769
11 years$5,728$5,122$4,573$4,078$3,632$2,265
12 years$5,197$4,597$4,059$3,577$3,147$1,864
13 years$4,748$4,154$3,626$3,158$2,744$1,542
14 years$4,363$3,776$3,258$2,803$2,406$1,281
15 years$4,030$3,450$2,942$2,500$2,118$1,068
16 years$3,739$3,165$2,667$2,238$1,872$893
17 years$3,483$2,915$2,427$2,011$1,660$748
18 years$3,255$2,693$2,215$1,813$1,476$628
19 years$3,051$2,496$2,028$1,638$1,316$528
20 years$2,868$2,320$1,861$1,483$1,175$444
21 years$2,703$2,161$1,712$1,346$1,052$374
22 years$2,553$2,017$1,578$1,224$943$316
23 years$2,416$1,886$1,457$1,115$846$266
24 years$2,291$1,767$1,347$1,017$760$225
25 years$2,176$1,659$1,248$929$684$190
26 years$2,070$1,559$1,157$849$616$161
27 years$1,972$1,467$1,075$777$556$136
28 years$1,881$1,382$999$712$501$115
29 years$1,797$1,304$930$653$453$97
30 years$1,718$1,232$866$599$409$82
31 years$1,645$1,164$807$550$370$70
32 years$1,576$1,102$753$506$335$59
33 years$1,511$1,043$703$465$303$50
34 years$1,451$989$657$428$274$42
35 years$1,394$938$614$394$248$36
36 years$1,340$890$575$363$225$30
37 years$1,290$845$538$334$204$26
38 years$1,242$803$504$308$185$22
39 years$1,197$764$472$284$168$18
40 years$1,154$727$442$262$152$16
41 years$1,113$692$415$242$138$13
42 years$1,075$659$389$223$125$11
43 years$1,038$628$365$206$114$10
44 years$1,003$599$343$190$103$8
45 years$969$571$322$176$94$7
46 years$938$544$302$162$85$6
47 years$907$520$284$150$77$5
48 years$878$496$267$138$70$4
49 years$851$474$251$128$64$4
50 years$824$452$236$118$58$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $844,000, adding $5,848 every year, while hoping to spend $45,240 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: 53/34/13 Blend
61$844,000$844,000$844,000$844,000
62$936,120$891,388$878,306$982,225
63$983,469$886,931$859,594$1,009,843
64$1,034,132$880,740$838,740$1,034,536
65$1,088,398$872,681$815,622$1,060,368
66$1,146,586$862,613$790,117$1,087,457
67$1,209,046$850,389$762,093$1,115,937
68$1,276,159$835,849$731,414$1,145,956
69$1,348,347$818,825$697,937$1,177,682
70$1,426,073$799,142$661,511$1,211,301
71$1,509,842$776,610$621,982$1,247,022
72$1,600,213$751,030$579,185$1,285,076
73$1,697,797$722,193$532,950$1,325,725
74$1,803,267$689,875$483,099$1,369,257
75$1,917,362$653,841$429,445$1,415,994
76$2,040,895$613,841$371,793$1,466,298
77$2,174,759$569,613$309,941$1,520,569
78$2,319,937$520,876$243,676$1,579,251
79$2,477,508$467,337$172,777$1,642,843
80$2,648,661$408,683$97,013$1,711,895
81$2,834,703$344,587$16,141$1,787,021
82$3,037,072$274,701$0$1,868,904
83$3,257,348$198,656$0$1,968,034
84$3,497,274$116,066$0$2,078,541
85$3,758,763$26,521$0$2,199,157
86$4,043,925$0$0$2,330,959
87$4,355,079$0$0$2,501,482
88$4,694,779$0$0$2,698,559
89$5,065,836$0$0$2,913,909
90$5,471,345$0$0$3,149,338
91$5,914,712$0$0$3,406,835
92$6,399,690$0$0$3,688,588
93$6,930,408$0$0$3,997,009
94$7,511,415$0$0$4,334,753
95$8,147,719$0$0$4,704,743
96$8,844,836$0$0$5,110,199
97$9,608,839$0$0$5,554,668
98$10,446,417$0$0$6,042,054
99$11,364,940$0$0$6,576,658
100$12,372,520$0$0$7,163,220