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%19.4%
1 years$66,063$65,475$64,901$64,340$63,793$61,383
2 years$32,705$32,095$31,505$30,933$30,378$27,978
3 years$21,586$20,975$20,386$19,819$19,273$16,958
4 years$16,029$15,419$14,836$14,278$13,746$11,534
5 years$12,695$12,088$11,513$10,967$10,449$8,347
6 years$10,473$9,871$9,304$8,771$8,268$6,276
7 years$8,886$8,290$7,732$7,211$6,724$4,842
8 years$7,697$7,106$6,557$6,049$5,578$3,804
9 years$6,773$6,187$5,648$5,152$4,698$3,028
10 years$6,033$5,453$4,924$4,441$4,003$2,436
11 years$5,429$4,855$4,335$3,865$3,442$1,974
12 years$4,926$4,357$3,847$3,390$2,983$1,610
13 years$4,500$3,938$3,437$2,993$2,601$1,320
14 years$4,136$3,579$3,088$2,657$2,280$1,086
15 years$3,820$3,270$2,788$2,370$2,008$896
16 years$3,544$3,000$2,528$2,122$1,775$741
17 years$3,301$2,763$2,300$1,906$1,573$615
18 years$3,085$2,553$2,100$1,718$1,399$511
19 years$2,892$2,366$1,922$1,552$1,247$425
20 years$2,719$2,199$1,764$1,406$1,114$354
21 years$2,562$2,048$1,623$1,276$997$295
22 years$2,420$1,912$1,496$1,160$893$246
23 years$2,290$1,788$1,381$1,057$802$205
24 years$2,172$1,675$1,277$964$721$171
25 years$2,063$1,572$1,183$880$649$143
26 years$1,962$1,478$1,097$805$584$120
27 years$1,869$1,391$1,019$737$527$100
28 years$1,783$1,310$947$675$475$84
29 years$1,703$1,236$881$619$429$70
30 years$1,628$1,167$821$568$388$59
31 years$1,559$1,104$765$522$351$49
32 years$1,494$1,044$714$479$317$41
33 years$1,433$989$667$441$287$34
34 years$1,375$937$623$406$260$29
35 years$1,321$889$582$373$235$24
36 years$1,271$844$545$344$213$20
37 years$1,223$801$510$317$193$17
38 years$1,177$762$478$292$175$14
39 years$1,134$724$447$269$159$12
40 years$1,094$689$419$248$144$10
41 years$1,055$656$393$229$131$8
42 years$1,019$625$369$211$119$7
43 years$984$595$346$195$108$6
44 years$951$567$325$180$98$5
45 years$919$541$305$166$89$4
46 years$889$516$287$154$81$3
47 years$860$492$269$142$73$3
48 years$833$470$253$131$66$2
49 years$806$449$238$121$60$2
50 years$781$429$224$112$55$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $800,000, adding $2,049 every year, while hoping to spend $36,402 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: 69/16/15 Blend
61$800,000$800,000$800,000$800,000
62$883,714$841,314$828,914$941,491
63$935,121$843,806$817,951$982,699
64$990,552$845,201$805,401$1,023,237
65$1,050,378$845,406$791,172$1,066,661
66$1,115,009$844,323$775,168$1,113,250
67$1,184,892$841,848$757,289$1,163,313
68$1,260,523$837,870$737,430$1,217,190
69$1,342,443$832,273$715,481$1,275,257
70$1,431,250$824,932$691,327$1,337,929
71$1,527,599$815,715$664,848$1,405,666
72$1,632,212$804,483$635,918$1,478,972
73$1,745,883$791,088$604,407$1,558,406
74$1,869,485$775,373$570,176$1,644,584
75$2,003,978$757,172$533,082$1,738,187
76$2,150,419$736,308$492,976$1,839,966
77$2,309,971$712,597$449,700$1,950,750
78$2,483,914$685,840$403,090$2,071,453
79$2,673,656$655,829$352,977$2,203,085
80$2,880,749$622,344$299,181$2,346,761
81$3,106,897$585,151$241,516$2,503,710
82$3,353,981$544,004$179,787$2,675,289
83$3,624,068$498,641$113,791$2,862,996
84$3,919,435$448,787$43,315$3,068,483
85$4,242,589$394,149$0$3,293,574
86$4,596,292$334,421$0$3,545,384
87$4,983,582$269,276$0$3,828,759
88$5,407,808$198,371$0$4,139,247
89$5,872,655$121,342$0$4,479,589
90$6,382,185$37,806$0$4,852,808
91$6,940,868$0$0$5,262,236
92$7,553,628$0$0$5,720,814
93$8,225,892$0$0$6,231,271
94$8,963,633$0$0$6,791,494
95$9,773,432$0$0$7,406,484
96$10,662,540$0$0$8,081,755
97$11,638,941$0$0$8,823,378
98$12,711,433$0$0$9,638,040
99$13,889,707$0$0$10,533,111
100$15,184,439$0$0$11,516,706