Can I retire at age 62 with 787,000?

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 $787,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$64,990$64,411$63,846$63,295$62,756$61,666
2 years$32,173$31,574$30,993$30,430$29,884$28,789
3 years$21,236$20,634$20,055$19,497$18,960$17,894
4 years$15,768$15,168$14,595$14,046$13,522$12,494
5 years$12,488$11,892$11,326$10,789$10,279$9,292
6 years$10,303$9,711$9,153$8,628$8,134$7,188
7 years$8,742$8,155$7,606$7,094$6,615$5,711
8 years$7,572$6,990$6,451$5,951$5,488$4,626
9 years$6,662$6,086$5,556$5,069$4,621$3,801
10 years$5,935$5,365$4,844$4,369$3,938$3,158
11 years$5,341$4,776$4,264$3,803$3,387$2,647
12 years$4,846$4,287$3,785$3,335$2,935$2,234
13 years$4,427$3,874$3,381$2,945$2,559$1,896
14 years$4,068$3,521$3,038$2,614$2,243$1,617
15 years$3,758$3,217$2,743$2,331$1,975$1,384
16 years$3,487$2,951$2,487$2,087$1,746$1,188
17 years$3,248$2,718$2,263$1,875$1,548$1,023
18 years$3,035$2,512$2,066$1,690$1,376$883
19 years$2,845$2,328$1,891$1,527$1,227$764
20 years$2,675$2,163$1,736$1,383$1,096$662
21 years$2,521$2,015$1,596$1,255$981$574
22 years$2,381$1,881$1,471$1,141$879$499
23 years$2,253$1,759$1,359$1,039$789$434
24 years$2,136$1,648$1,256$948$709$377
25 years$2,029$1,547$1,164$866$638$329
26 years$1,930$1,454$1,079$792$575$286
27 years$1,839$1,368$1,002$725$518$250
28 years$1,754$1,289$932$664$468$218
29 years$1,675$1,216$867$609$422$190
30 years$1,602$1,148$808$559$382$166
31 years$1,534$1,086$753$513$345$145
32 years$1,469$1,027$702$472$312$127
33 years$1,409$973$656$434$282$111
34 years$1,353$922$613$399$256$97
35 years$1,300$875$573$367$232$85
36 years$1,250$830$536$338$210$74
37 years$1,203$788$502$312$190$65
38 years$1,158$749$470$287$172$57
39 years$1,116$712$440$265$156$50
40 years$1,076$678$413$244$142$43
41 years$1,038$645$387$225$129$38
42 years$1,002$614$363$208$117$33
43 years$968$585$340$192$106$29
44 years$935$558$320$177$96$25
45 years$904$532$300$164$87$22
46 years$874$508$282$151$79$20
47 years$846$484$265$140$72$17
48 years$819$463$249$129$65$15
49 years$793$442$234$119$59$13
50 years$768$422$220$110$54$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $787,000, adding $3,593 every year, while hoping to spend $46,026 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: 48/37/15 Blend
61$787,000$787,000$787,000$787,000
62$870,980$829,269$817,071$908,977
63$910,849$820,932$795,471$927,280
64$953,242$810,644$771,606$942,123
65$998,367$798,260$745,349$957,230
66$1,046,454$783,629$716,572$972,645
67$1,097,753$766,587$685,138$988,414
68$1,152,538$746,964$650,904$1,004,596
69$1,211,110$724,578$613,722$1,021,255
70$1,273,798$699,237$573,437$1,038,468
71$1,340,963$670,738$529,885$1,056,321
72$1,413,003$638,865$482,898$1,074,915
73$1,490,351$603,392$432,297$1,094,363
74$1,573,485$564,076$377,897$1,114,797
75$1,662,929$520,665$319,505$1,136,364
76$1,759,259$472,888$256,919$1,159,234
77$1,863,105$420,461$189,928$1,183,597
78$1,975,162$363,084$118,311$1,209,670
79$2,096,193$300,440$41,838$1,237,698
80$2,227,035$232,192$0$1,267,957
81$2,368,610$157,986$0$1,307,123
82$2,521,929$77,448$0$1,356,740
83$2,688,106$0$0$1,410,541
84$2,868,365$0$0$1,473,006
85$3,064,051$0$0$1,575,123
86$3,276,645$0$0$1,686,139
87$3,507,776$0$0$1,806,915
88$3,759,235$0$0$1,938,398
89$4,032,994$0$0$2,081,627
90$4,331,220$0$0$2,237,750
91$4,656,302$0$0$2,408,026
92$5,010,867$0$0$2,593,845
93$5,397,805$0$0$2,796,733
94$5,820,299$0$0$3,018,373
95$6,281,853$0$0$3,260,617
96$6,786,323$0$0$3,525,501
97$7,337,957$0$0$3,815,271
98$7,941,430$0$0$4,132,399
99$8,601,890$0$0$4,479,604
100$9,325,005$0$0$4,859,883