Can I retire at age 62 with 803,000?

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 $803,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$66,311$65,720$65,144$64,582$64,032$61,810
2 years$32,827$32,216$31,623$31,049$30,492$28,275
3 years$21,667$21,053$20,462$19,893$19,345$17,205
4 years$16,089$15,476$14,891$14,332$13,797$11,749
5 years$12,742$12,134$11,556$11,008$10,488$8,538
6 years$10,512$9,908$9,339$8,803$8,299$6,448
7 years$8,920$8,321$7,761$7,238$6,749$4,997
8 years$7,726$7,132$6,582$6,072$5,599$3,945
9 years$6,798$6,210$5,669$5,172$4,715$3,156
10 years$6,056$5,474$4,942$4,458$4,018$2,551
11 years$5,449$4,873$4,351$3,880$3,455$2,079
12 years$4,944$4,374$3,862$3,403$2,994$1,704
13 years$4,517$3,953$3,450$3,004$2,611$1,405
14 years$4,151$3,593$3,100$2,667$2,289$1,162
15 years$3,834$3,282$2,799$2,379$2,015$964
16 years$3,558$3,011$2,538$2,130$1,781$803
17 years$3,314$2,773$2,309$1,914$1,579$669
18 years$3,097$2,563$2,108$1,724$1,404$559
19 years$2,903$2,375$1,930$1,558$1,252$468
20 years$2,729$2,207$1,771$1,411$1,118$392
21 years$2,572$2,056$1,629$1,281$1,000$329
22 years$2,429$1,919$1,501$1,165$897$276
23 years$2,299$1,795$1,386$1,061$805$232
24 years$2,180$1,682$1,282$967$724$195
25 years$2,070$1,578$1,187$883$651$164
26 years$1,969$1,483$1,101$808$586$138
27 years$1,876$1,396$1,023$739$529$116
28 years$1,790$1,315$951$677$477$98
29 years$1,709$1,241$885$621$431$82
30 years$1,635$1,172$824$570$389$69
31 years$1,565$1,108$768$524$352$58
32 years$1,499$1,048$717$481$318$49
33 years$1,438$993$669$442$288$41
34 years$1,381$941$625$407$261$35
35 years$1,326$892$585$375$236$29
36 years$1,275$847$547$345$214$25
37 years$1,227$804$512$318$194$21
38 years$1,182$764$479$293$176$18
39 years$1,139$727$449$270$160$15
40 years$1,098$692$421$249$145$13
41 years$1,059$658$395$230$131$11
42 years$1,022$627$370$212$119$9
43 years$987$597$347$196$108$8
44 years$954$569$326$181$98$6
45 years$922$543$306$167$89$5
46 years$892$518$288$154$81$4
47 years$863$494$270$143$73$4
48 years$836$472$254$132$67$3
49 years$809$451$239$122$61$3
50 years$784$430$224$113$55$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $803,000, adding $2,258 every year, while hoping to spend $50,620 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: 47/46/7 Blend
61$803,000$803,000$803,000$803,000
62$887,235$844,676$832,230$927,163
63$923,874$832,206$806,250$942,334
64$962,553$817,428$777,704$953,295
65$1,003,428$800,176$746,451$964,008
66$1,046,666$780,274$712,346$974,463
67$1,092,453$757,534$675,236$984,656
68$1,140,990$731,760$634,963$994,584
69$1,192,496$702,741$591,360$1,004,249
70$1,247,212$670,257$544,252$1,013,654
71$1,305,402$634,074$493,458$1,022,812
72$1,367,352$593,943$438,788$1,031,737
73$1,433,378$549,602$380,044$1,040,452
74$1,503,826$500,776$317,019$1,048,988
75$1,579,073$447,171$249,496$1,057,384
76$1,659,534$388,477$177,249$1,065,688
77$1,745,663$324,369$100,043$1,073,962
78$1,837,957$254,500$17,632$1,082,279
79$1,936,965$178,507$0$1,090,729
80$2,043,284$96,002$0$1,104,667
81$2,157,574$6,581$0$1,120,714
82$2,280,556$0$0$1,137,719
83$2,413,024$0$0$1,201,524
84$2,555,849$0$0$1,273,978
85$2,709,988$0$0$1,352,244
86$2,876,493$0$0$1,436,865
87$3,056,519$0$0$1,528,439
88$3,251,336$0$0$1,627,621
89$3,462,341$0$0$1,735,133
90$3,691,068$0$0$1,851,768
91$3,939,206$0$0$1,978,400
92$4,208,611$0$0$2,115,986
93$4,501,325$0$0$2,265,584
94$4,819,594$0$0$2,428,355
95$5,165,889$0$0$2,605,576
96$5,542,929$0$0$2,798,653
97$5,953,706$0$0$3,009,135
98$6,401,512$0$0$3,238,724
99$6,889,972$0$0$3,489,295
100$7,423,072$0$0$3,762,912