Can I retire at age 62 with 783,000?

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 $783,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$64,659$64,083$63,522$62,973$62,438$60,318
2 years$32,010$31,413$30,836$30,276$29,732$27,618
3 years$21,128$20,529$19,953$19,398$18,863$16,821
4 years$15,688$15,091$14,520$13,975$13,453$11,499
5 years$12,425$11,832$11,268$10,734$10,227$8,365
6 years$10,250$9,661$9,107$8,584$8,092$6,324
7 years$8,697$8,114$7,568$7,058$6,581$4,907
8 years$7,533$6,955$6,418$5,920$5,460$3,878
9 years$6,629$6,055$5,528$5,043$4,598$3,107
10 years$5,905$5,338$4,819$4,347$3,918$2,514
11 years$5,314$4,752$4,243$3,783$3,369$2,051
12 years$4,821$4,265$3,765$3,318$2,920$1,684
13 years$4,404$3,854$3,364$2,930$2,546$1,390
14 years$4,048$3,503$3,023$2,601$2,232$1,151
15 years$3,739$3,200$2,729$2,319$1,965$957
16 years$3,469$2,936$2,474$2,077$1,737$798
17 years$3,231$2,704$2,252$1,866$1,540$666
18 years$3,020$2,499$2,055$1,682$1,369$557
19 years$2,831$2,316$1,882$1,519$1,220$467
20 years$2,661$2,152$1,727$1,376$1,090$392
21 years$2,508$2,005$1,588$1,249$976$329
22 years$2,369$1,871$1,464$1,136$874$277
23 years$2,242$1,750$1,352$1,034$785$233
24 years$2,125$1,640$1,250$943$706$196
25 years$2,019$1,539$1,158$861$635$165
26 years$1,920$1,446$1,074$788$572$139
27 years$1,829$1,361$997$721$516$117
28 years$1,745$1,283$927$661$465$99
29 years$1,667$1,210$863$606$420$83
30 years$1,594$1,143$803$556$380$70
31 years$1,526$1,080$749$511$343$59
32 years$1,462$1,022$699$469$310$50
33 years$1,402$968$653$431$281$42
34 years$1,346$917$610$397$254$36
35 years$1,293$870$570$365$230$30
36 years$1,244$826$533$337$209$25
37 years$1,197$784$499$310$189$21
38 years$1,152$745$467$286$172$18
39 years$1,110$709$438$264$156$15
40 years$1,070$674$410$243$141$13
41 years$1,033$642$385$224$128$11
42 years$997$611$361$207$116$9
43 years$963$583$339$191$105$8
44 years$930$555$318$176$96$7
45 years$899$529$299$163$87$6
46 years$870$505$280$150$79$5
47 years$842$482$263$139$72$4
48 years$815$460$248$128$65$3
49 years$789$439$233$119$59$3
50 years$764$420$219$110$54$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $783,000, adding $2,764 every year, while hoping to spend $31,162 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: 52/33/15 Blend
61$783,000$783,000$783,000$783,000
62$865,717$824,218$812,082$907,091
63$920,864$831,449$806,130$942,946
64$980,592$837,989$798,935$978,399
65$1,045,334$843,773$790,421$1,016,261
66$1,115,569$848,728$780,511$1,056,770
67$1,191,822$852,781$769,123$1,100,188
68$1,274,670$855,849$756,171$1,146,806
69$1,364,749$857,849$741,565$1,196,943
70$1,462,758$858,688$725,213$1,250,955
71$1,569,466$858,270$707,014$1,309,234
72$1,685,720$856,494$686,868$1,372,213
73$1,812,451$853,250$664,665$1,440,373
74$1,950,685$848,423$640,295$1,514,243
75$2,101,549$841,890$613,640$1,594,410
76$2,266,287$833,522$584,576$1,681,521
77$2,446,264$823,181$552,975$1,776,292
78$2,642,987$810,720$518,704$1,879,516
79$2,858,112$795,986$481,621$1,992,065
80$3,093,465$778,815$441,581$2,114,908
81$3,351,054$759,033$398,429$2,249,110
82$3,633,092$736,456$352,007$2,395,853
83$3,942,015$710,890$302,147$2,556,439
84$4,280,507$682,129$248,675$2,732,306
85$4,651,521$649,956$191,408$2,925,046
86$5,058,312$614,141$130,157$3,136,413
87$5,504,465$574,438$64,722$3,368,347
88$5,993,927$530,592$0$3,622,988
89$6,531,046$482,329$0$3,903,519
90$7,120,612$429,363$0$4,222,839
91$7,767,901$371,388$0$4,573,498
92$8,478,724$308,083$0$4,958,713
93$9,259,484$239,109$0$5,382,035
94$10,117,233$164,108$0$5,847,382
95$11,059,741$82,699$0$6,359,075
96$12,095,567$0$0$6,921,880
97$13,234,141$0$0$7,543,057
98$14,485,851$0$0$8,259,057
99$15,862,144$0$0$9,046,407
100$17,375,629$0$0$9,912,333