Can I retire at age 62 with 816,000?

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 $816,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$67,385$66,784$66,199$65,627$65,069$64,768
2 years$33,359$32,737$32,135$31,551$30,985$30,681
3 years$22,018$21,394$20,794$20,215$19,658$19,361
4 years$16,349$15,727$15,132$14,564$14,020$13,732
5 years$12,949$12,330$11,743$11,187$10,658$10,379
6 years$10,682$10,069$9,490$8,946$8,433$8,164
7 years$9,064$8,456$7,887$7,355$6,859$6,600
8 years$7,851$7,248$6,688$6,170$5,690$5,441
9 years$6,908$6,311$5,761$5,255$4,792$4,553
10 years$6,154$5,563$5,022$4,530$4,083$3,855
11 years$5,538$4,952$4,422$3,943$3,511$3,293
12 years$5,024$4,445$3,924$3,458$3,043$2,834
13 years$4,590$4,017$3,506$3,053$2,653$2,454
14 years$4,218$3,651$3,150$2,710$2,326$2,136
15 years$3,897$3,335$2,844$2,417$2,048$1,867
16 years$3,615$3,060$2,579$2,164$1,810$1,638
17 years$3,367$2,818$2,346$1,944$1,605$1,442
18 years$3,147$2,604$2,142$1,752$1,427$1,272
19 years$2,950$2,413$1,961$1,583$1,272$1,125
20 years$2,773$2,243$1,800$1,434$1,136$997
21 years$2,613$2,089$1,655$1,302$1,017$885
22 years$2,468$1,950$1,526$1,183$911$787
23 years$2,336$1,824$1,409$1,078$818$701
24 years$2,215$1,709$1,303$983$735$625
25 years$2,104$1,604$1,207$898$662$558
26 years$2,001$1,507$1,119$821$596$498
27 years$1,907$1,418$1,039$751$537$445
28 years$1,819$1,337$966$688$485$398
29 years$1,737$1,261$899$631$438$356
30 years$1,661$1,191$837$579$396$319
31 years$1,590$1,126$781$532$358$286
32 years$1,524$1,065$728$489$324$256
33 years$1,461$1,009$680$450$293$230
34 years$1,403$956$635$414$265$206
35 years$1,348$907$594$381$240$185
36 years$1,296$861$556$351$218$166
37 years$1,247$817$520$323$197$149
38 years$1,201$777$487$298$179$134
39 years$1,157$739$456$275$162$121
40 years$1,116$703$428$253$147$108
41 years$1,076$669$401$234$133$97
42 years$1,039$637$376$216$121$87
43 years$1,003$607$353$199$110$79
44 years$970$579$331$184$100$71
45 years$937$552$311$170$91$64
46 years$907$526$292$157$82$57
47 years$877$502$275$145$75$51
48 years$849$480$258$134$68$46
49 years$822$458$243$124$62$42
50 years$797$437$228$114$56$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $816,000, adding $4,606 every year, while hoping to spend $21,934 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: 69/5/26 Blend
61$816,000$816,000$816,000$816,000
62$903,983$860,735$848,087$960,018
63$972,852$879,574$853,160$1,017,026
64$1,048,010$898,600$857,669$1,076,444
65$1,130,076$917,800$861,569$1,140,963
66$1,219,730$937,159$864,819$1,211,087
67$1,317,723$956,660$867,370$1,287,372
68$1,424,878$976,284$869,175$1,370,433
69$1,542,105$996,011$870,181$1,460,945
70$1,670,404$1,015,820$870,336$1,559,654
71$1,810,875$1,035,685$869,583$1,667,380
72$1,964,733$1,055,582$867,862$1,785,028
73$2,133,312$1,075,482$865,112$1,913,596
74$2,318,084$1,095,355$861,267$2,054,184
75$2,520,669$1,115,167$856,260$2,208,003
76$2,742,850$1,134,884$850,018$2,376,389
77$2,986,594$1,154,466$842,467$2,560,815
78$3,254,065$1,173,873$833,528$2,762,903
79$3,547,648$1,193,061$823,119$2,984,442
80$3,869,968$1,211,981$811,154$3,227,404
81$4,223,919$1,230,583$797,542$3,493,961
82$4,612,689$1,248,812$782,190$3,786,509
83$5,039,788$1,266,608$764,998$4,107,689
84$5,509,085$1,283,910$745,863$4,460,410
85$6,024,839$1,300,650$724,678$4,847,879
86$6,591,746$1,316,755$701,328$5,273,633
87$7,214,978$1,332,149$675,696$5,741,568
88$7,900,231$1,346,750$647,657$6,255,979
89$8,653,785$1,360,471$617,083$6,821,600
90$9,482,554$1,373,217$583,839$7,443,649
91$10,394,159$1,384,889$547,782$8,127,877
92$11,396,996$1,395,381$508,765$8,880,623
93$12,500,315$1,404,581$466,635$9,708,874
94$13,714,309$1,412,367$421,229$10,620,330
95$15,050,207$1,418,612$372,379$11,623,478
96$16,520,384$1,423,180$319,909$12,727,674
97$18,138,473$1,425,925$263,636$13,943,226
98$19,919,497$1,426,695$203,368$15,281,499
99$21,880,009$1,425,327$138,904$16,755,016
100$24,038,248$1,421,646$70,035$18,377,582