Can I retire at age 62 with 808,000?

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 $808,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$66,724$66,130$65,550$64,984$64,431$63,338
2 years$33,032$32,416$31,820$31,242$30,681$29,583
3 years$21,802$21,185$20,590$20,017$19,466$18,397
4 years$16,189$15,573$14,984$14,421$13,883$12,852
5 years$12,822$12,209$11,628$11,077$10,554$9,563
6 years$10,577$9,970$9,397$8,858$8,351$7,402
7 years$8,975$8,373$7,809$7,283$6,791$5,884
8 years$7,774$7,177$6,623$6,109$5,634$4,769
9 years$6,840$6,249$5,704$5,204$4,745$3,921
10 years$6,094$5,508$4,973$4,486$4,043$3,259
11 years$5,483$4,903$4,378$3,904$3,477$2,733
12 years$4,975$4,401$3,886$3,424$3,013$2,308
13 years$4,545$3,977$3,472$3,023$2,627$1,960
14 years$4,177$3,615$3,119$2,684$2,303$1,673
15 years$3,858$3,303$2,816$2,393$2,028$1,433
16 years$3,580$3,030$2,553$2,143$1,792$1,231
17 years$3,334$2,791$2,323$1,925$1,589$1,061
18 years$3,116$2,579$2,121$1,735$1,413$917
19 years$2,921$2,390$1,942$1,568$1,259$793
20 years$2,746$2,221$1,782$1,420$1,125$688
21 years$2,588$2,069$1,639$1,289$1,007$597
22 years$2,444$1,931$1,511$1,172$902$519
23 years$2,313$1,806$1,395$1,067$810$452
24 years$2,193$1,692$1,290$973$728$393
25 years$2,083$1,588$1,195$889$655$343
26 years$1,982$1,492$1,108$813$590$299
27 years$1,888$1,404$1,029$744$532$261
28 years$1,801$1,323$957$682$480$228
29 years$1,720$1,249$890$625$433$199
30 years$1,645$1,179$829$574$392$174
31 years$1,574$1,115$773$527$354$152
32 years$1,509$1,055$721$484$320$133
33 years$1,447$999$673$445$290$116
34 years$1,389$947$629$410$262$102
35 years$1,335$898$588$377$238$89
36 years$1,283$852$550$347$215$78
37 years$1,235$809$515$320$195$68
38 years$1,189$769$482$295$177$60
39 years$1,146$731$452$272$160$52
40 years$1,105$696$424$251$146$46
41 years$1,066$662$397$231$132$40
42 years$1,029$631$373$214$120$35
43 years$994$601$350$197$109$31
44 years$960$573$328$182$99$27
45 years$928$546$308$168$90$24
46 years$898$521$289$155$81$21
47 years$869$497$272$143$74$18
48 years$841$475$255$133$67$16
49 years$814$453$240$123$61$14
50 years$789$433$226$113$55$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $808,000, adding $5,061 every year, while hoping to spend $51,830 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: 42/30/28 Blend
61$808,000$808,000$808,000$808,000
62$895,636$852,812$840,288$925,730
63$931,845$839,454$813,291$934,512
64$970,009$823,703$783,653$938,758
65$1,010,274$805,389$751,229$942,368
66$1,052,798$784,329$715,872$945,315
67$1,097,753$760,330$677,423$947,571
68$1,145,327$733,190$635,720$949,112
69$1,195,725$702,690$590,591$949,916
70$1,249,171$668,604$541,857$949,964
71$1,305,910$630,690$489,333$949,238
72$1,366,210$588,691$432,824$947,727
73$1,430,365$542,338$372,124$945,421
74$1,498,694$491,344$307,023$942,319
75$1,571,550$435,409$237,297$938,423
76$1,649,316$374,213$162,715$933,744
77$1,732,415$307,418$83,034$928,301
78$1,821,309$234,668$0$922,123
79$1,916,503$155,588$0$915,848
80$2,018,554$69,780$0$935,442
81$2,128,071$0$0$956,223
82$2,245,724$0$0$986,011
83$2,372,245$0$0$1,042,888
84$2,508,441$0$0$1,104,190
85$2,655,198$0$0$1,170,325
86$2,813,486$0$0$1,241,741
87$2,984,376$0$0$1,318,931
88$3,169,039$0$0$1,402,437
89$3,368,766$0$0$1,492,852
90$3,584,974$0$0$1,590,832
91$3,819,223$0$0$1,697,096
92$4,073,225$0$0$1,812,435
93$4,348,865$0$0$1,937,718
94$4,648,215$0$0$2,073,904
95$4,973,557$0$0$2,222,044
96$5,327,396$0$0$2,383,298
97$5,712,493$0$0$2,558,939
98$6,131,884$0$0$2,750,372
99$6,588,909$0$0$2,959,138
100$7,087,245$0$0$3,186,938