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%13%
1 years$69,697$69,076$68,470$67,879$67,302$66,461
2 years$34,503$33,861$33,238$32,634$32,048$31,202
3 years$22,774$22,128$21,507$20,909$20,333$19,508
4 years$16,910$16,267$15,652$15,064$14,502$13,704
5 years$13,393$12,753$12,146$11,570$11,024$10,256
6 years$11,049$10,414$9,816$9,253$8,723$7,985
7 years$9,375$8,746$8,157$7,607$7,094$6,388
8 years$8,120$7,497$6,918$6,382$5,885$5,210
9 years$7,145$6,527$5,958$5,436$4,956$4,311
10 years$6,365$5,753$5,195$4,686$4,223$3,608
11 years$5,728$5,122$4,573$4,078$3,632$3,047
12 years$5,197$4,597$4,059$3,577$3,147$2,591
13 years$4,748$4,154$3,626$3,158$2,744$2,216
14 years$4,363$3,776$3,258$2,803$2,406$1,905
15 years$4,030$3,450$2,942$2,500$2,118$1,644
16 years$3,739$3,165$2,667$2,238$1,872$1,424
17 years$3,483$2,915$2,427$2,011$1,660$1,237
18 years$3,255$2,693$2,215$1,813$1,476$1,077
19 years$3,051$2,496$2,028$1,638$1,316$939
20 years$2,868$2,320$1,861$1,483$1,175$821
21 years$2,703$2,161$1,712$1,346$1,052$719
22 years$2,553$2,017$1,578$1,224$943$630
23 years$2,416$1,886$1,457$1,115$846$553
24 years$2,291$1,767$1,347$1,017$760$486
25 years$2,176$1,659$1,248$929$684$427
26 years$2,070$1,559$1,157$849$616$376
27 years$1,972$1,467$1,075$777$556$331
28 years$1,881$1,382$999$712$501$292
29 years$1,797$1,304$930$653$453$257
30 years$1,718$1,232$866$599$409$227
31 years$1,645$1,164$807$550$370$200
32 years$1,576$1,102$753$506$335$177
33 years$1,511$1,043$703$465$303$156
34 years$1,451$989$657$428$274$138
35 years$1,394$938$614$394$248$122
36 years$1,340$890$575$363$225$107
37 years$1,290$845$538$334$204$95
38 years$1,242$803$504$308$185$84
39 years$1,197$764$472$284$168$74
40 years$1,154$727$442$262$152$66
41 years$1,113$692$415$242$138$58
42 years$1,075$659$389$223$125$51
43 years$1,038$628$365$206$114$45
44 years$1,003$599$343$190$103$40
45 years$969$571$322$176$94$35
46 years$938$544$302$162$85$31
47 years$907$520$284$150$77$28
48 years$878$496$267$138$70$25
49 years$851$474$251$128$64$22
50 years$824$452$236$118$58$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $844,000, adding $3,696 every year, while hoping to spend $43,510 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: 58/16/26 Blend
61$844,000$844,000$844,000$844,000
62$933,900$889,168$876,086$981,274
63$982,864$886,443$859,141$1,011,353
64$1,035,364$882,127$840,170$1,039,196
65$1,091,714$876,094$819,059$1,068,642
66$1,152,260$868,214$795,689$1,099,856
67$1,217,382$858,348$769,935$1,133,024
68$1,287,495$846,347$741,669$1,168,353
69$1,363,057$832,056$710,752$1,206,072
70$1,444,570$815,307$677,043$1,246,435
71$1,532,585$795,926$640,393$1,289,727
72$1,627,709$773,727$600,646$1,336,262
73$1,730,607$748,512$557,640$1,386,388
74$1,842,013$720,073$511,205$1,440,494
75$1,962,731$688,189$461,163$1,499,009
76$2,093,647$652,627$407,329$1,562,411
77$2,235,733$613,140$349,509$1,631,228
78$2,390,061$569,467$287,500$1,706,046
79$2,557,808$521,332$221,093$1,787,516
80$2,740,271$468,444$150,065$1,876,357
81$2,938,874$410,493$74,188$1,973,368
82$3,155,186$347,154$0$2,079,431
83$3,390,933$278,082$0$2,197,408
84$3,648,014$202,915$0$2,348,585
85$3,928,521$121,267$0$2,513,630
86$4,234,755$32,733$0$2,693,946
87$4,569,248$0$0$2,891,079
88$4,934,790$0$0$3,117,848
89$5,334,451$0$0$3,372,153
90$5,771,611$0$0$3,650,390
91$6,249,992$0$0$3,954,936
92$6,773,693$0$0$4,288,411
93$7,347,227$0$0$4,653,697
94$7,975,564$0$0$5,053,971
95$8,664,177$0$0$5,492,728
96$9,419,094$0$0$5,973,822
97$10,246,955$0$0$6,501,493
98$11,155,072$0$0$7,080,415
99$12,151,499$0$0$7,715,733
100$13,245,108$0$0$8,413,117