Can I retire at age 62 with 800,000?

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 $800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$66,063$65,475$64,901$64,340$63,793$63,022
2 years$32,705$32,095$31,505$30,933$30,378$29,602
3 years$21,586$20,975$20,386$19,819$19,273$18,516
4 years$16,029$15,419$14,836$14,278$13,746$13,014
5 years$12,695$12,088$11,513$10,967$10,449$9,745
6 years$10,473$9,871$9,304$8,771$8,268$7,591
7 years$8,886$8,290$7,732$7,211$6,724$6,076
8 years$7,697$7,106$6,557$6,049$5,578$4,958
9 years$6,773$6,187$5,648$5,152$4,698$4,106
10 years$6,033$5,453$4,924$4,441$4,003$3,438
11 years$5,429$4,855$4,335$3,865$3,442$2,905
12 years$4,926$4,357$3,847$3,390$2,983$2,472
13 years$4,500$3,938$3,437$2,993$2,601$2,116
14 years$4,136$3,579$3,088$2,657$2,280$1,820
15 years$3,820$3,270$2,788$2,370$2,008$1,572
16 years$3,544$3,000$2,528$2,122$1,775$1,362
17 years$3,301$2,763$2,300$1,906$1,573$1,184
18 years$3,085$2,553$2,100$1,718$1,399$1,031
19 years$2,892$2,366$1,922$1,552$1,247$901
20 years$2,719$2,199$1,764$1,406$1,114$788
21 years$2,562$2,048$1,623$1,276$997$690
22 years$2,420$1,912$1,496$1,160$893$605
23 years$2,290$1,788$1,381$1,057$802$532
24 years$2,172$1,675$1,277$964$721$467
25 years$2,063$1,572$1,183$880$649$411
26 years$1,962$1,478$1,097$805$584$362
27 years$1,869$1,391$1,019$737$527$319
28 years$1,783$1,310$947$675$475$281
29 years$1,703$1,236$881$619$429$248
30 years$1,628$1,167$821$568$388$219
31 years$1,559$1,104$765$522$351$194
32 years$1,494$1,044$714$479$317$171
33 years$1,433$989$667$441$287$151
34 years$1,375$937$623$406$260$134
35 years$1,321$889$582$373$235$118
36 years$1,271$844$545$344$213$104
37 years$1,223$801$510$317$193$92
38 years$1,177$762$478$292$175$82
39 years$1,134$724$447$269$159$72
40 years$1,094$689$419$248$144$64
41 years$1,055$656$393$229$131$57
42 years$1,019$625$369$211$119$50
43 years$984$595$346$195$108$44
44 years$951$567$325$180$98$39
45 years$919$541$305$166$89$35
46 years$889$516$287$154$81$31
47 years$860$492$269$142$73$27
48 years$833$470$253$131$66$24
49 years$806$449$238$121$60$21
50 years$781$429$224$112$55$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $800,000, adding $4,538 every year, while hoping to spend $57,194 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: 79/5/16 Blend
61$800,000$800,000$800,000$800,000
62$886,281$843,881$831,481$952,920
63$915,828$824,377$798,482$977,956
64$946,471$802,001$762,460$997,672
65$978,263$776,551$723,254$1,017,707
66$1,011,258$747,814$680,695$1,038,067
67$1,045,515$715,565$634,607$1,058,764
68$1,081,096$679,566$584,805$1,079,808
69$1,118,068$639,565$531,096$1,101,213
70$1,156,502$595,295$473,278$1,122,995
71$1,196,474$546,473$411,143$1,145,169
72$1,238,067$492,803$344,468$1,167,756
73$1,281,368$433,969$273,027$1,190,778
74$1,326,472$369,638$196,578$1,214,260
75$1,373,481$299,459$114,871$1,238,231
76$1,422,503$223,059$27,647$1,262,724
77$1,473,657$140,048$0$1,287,776
78$1,527,069$50,009$0$1,324,600
79$1,582,877$0$0$1,367,836
80$1,641,229$0$0$1,415,477
81$1,702,284$0$0$1,468,211
82$1,766,218$0$0$1,523,437
83$1,833,217$0$0$1,581,318
84$1,903,486$0$0$1,642,031
85$1,977,246$0$0$1,705,769
86$2,054,736$0$0$1,772,740
87$2,136,219$0$0$1,843,171
88$2,221,978$0$0$1,917,308
89$2,312,322$0$0$1,995,421
90$2,407,587$0$0$2,077,802
91$2,508,141$0$0$2,164,769
92$2,614,384$0$0$2,256,670
93$2,726,751$0$0$2,353,885
94$2,845,719$0$0$2,456,827
95$2,971,808$0$0$2,565,949
96$3,105,587$0$0$2,681,745
97$3,247,677$0$0$2,804,756
98$3,398,758$0$0$2,935,572
99$3,559,573$0$0$3,074,840
100$3,730,937$0$0$3,223,268