Can I retire at age 62 with 798,000?

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 $798,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$65,898$65,311$64,738$64,179$63,634$61,845
2 years$32,623$32,015$31,426$30,856$30,302$28,513
3 years$21,533$20,922$20,335$19,769$19,225$17,492
4 years$15,988$15,380$14,799$14,243$13,711$12,048
5 years$12,663$12,058$11,484$10,940$10,423$8,834
6 years$10,447$9,846$9,281$8,749$8,247$6,734
7 years$8,864$8,269$7,713$7,193$6,707$5,270
8 years$7,678$7,088$6,541$6,034$5,564$4,202
9 years$6,756$6,171$5,634$5,139$4,686$3,397
10 years$6,018$5,440$4,912$4,430$3,993$2,775
11 years$5,415$4,843$4,324$3,856$3,434$2,286
12 years$4,913$4,347$3,838$3,382$2,976$1,896
13 years$4,489$3,928$3,429$2,986$2,595$1,580
14 years$4,125$3,570$3,081$2,650$2,275$1,323
15 years$3,811$3,262$2,781$2,364$2,003$1,111
16 years$3,535$2,993$2,522$2,116$1,770$936
17 years$3,293$2,756$2,295$1,902$1,569$791
18 years$3,078$2,547$2,095$1,714$1,395$669
19 years$2,885$2,360$1,918$1,548$1,244$567
20 years$2,712$2,193$1,760$1,402$1,111$481
21 years$2,556$2,043$1,619$1,273$994$409
22 years$2,414$1,907$1,492$1,157$891$348
23 years$2,285$1,784$1,378$1,054$800$296
24 years$2,166$1,671$1,274$961$719$252
25 years$2,057$1,568$1,180$878$647$215
26 years$1,957$1,474$1,094$803$583$183
27 years$1,864$1,387$1,016$735$525$157
28 years$1,779$1,307$945$673$474$134
29 years$1,699$1,233$879$617$428$114
30 years$1,624$1,165$819$567$387$97
31 years$1,555$1,101$763$520$350$83
32 years$1,490$1,042$712$478$316$71
33 years$1,429$986$665$440$286$61
34 years$1,372$935$621$405$259$52
35 years$1,318$887$581$372$235$44
36 years$1,267$842$543$343$213$38
37 years$1,220$799$509$316$193$32
38 years$1,174$760$476$291$175$28
39 years$1,132$722$446$269$159$24
40 years$1,091$687$418$248$144$20
41 years$1,053$654$392$229$130$17
42 years$1,016$623$368$211$118$15
43 years$981$594$345$195$107$13
44 years$948$566$324$180$98$11
45 years$917$540$304$166$89$9
46 years$887$515$286$153$80$8
47 years$858$491$269$142$73$7
48 years$830$469$252$131$66$6
49 years$804$448$237$121$60$5
50 years$779$428$223$112$55$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $798,000, adding $3,853 every year, while hoping to spend $37,572 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: 60/32/8 Blend
61$798,000$798,000$798,000$798,000
62$883,370$841,076$828,707$934,618
63$933,498$842,313$816,493$970,664
64$987,479$842,351$802,610$1,005,322
65$1,045,667$841,091$786,963$1,042,183
66$1,108,451$838,430$769,452$1,081,461
67$1,176,257$834,257$749,972$1,123,393
68$1,249,553$828,454$728,414$1,168,239
69$1,328,855$820,896$704,663$1,216,290
70$1,414,729$811,450$678,600$1,267,865
71$1,507,798$799,977$650,100$1,323,319
72$1,608,745$786,329$619,030$1,383,043
73$1,718,325$770,346$585,255$1,447,472
74$1,837,365$751,864$548,632$1,517,086
75$1,966,775$730,704$509,010$1,592,414
76$2,107,558$706,681$466,235$1,674,044
77$2,260,817$679,596$420,141$1,762,626
78$2,427,764$649,240$370,559$1,858,877
79$2,609,734$615,392$317,312$1,963,590
80$2,808,197$577,816$260,212$2,077,644
81$3,024,770$536,266$199,066$2,202,009
82$3,261,233$490,479$133,670$2,337,756
83$3,519,545$440,178$63,814$2,486,072
84$3,801,863$385,071$0$2,648,266
85$4,110,562$324,849$0$2,826,702
86$4,448,257$259,185$0$3,027,936
87$4,817,827$187,733$0$3,248,303
88$5,222,443$110,129$0$3,489,776
89$5,665,595$25,988$0$3,754,536
90$6,151,128$0$0$4,044,986
91$6,683,277$0$0$4,386,706
92$7,266,703$0$0$4,771,451
93$7,906,544$0$0$5,193,465
94$8,608,455$0$0$5,656,487
95$9,378,668$0$0$6,164,636
96$10,224,046$0$0$6,722,449
97$11,152,147$0$0$7,334,922
98$12,171,301$0$0$8,007,562
99$13,290,679$0$0$8,746,432
100$14,520,388$0$0$9,558,212