Can I retire at age 62 with 831,000?

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 $831,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$68,623$68,012$67,416$66,833$66,265$65,060
2 years$33,972$33,339$32,726$32,131$31,555$30,345
3 years$22,423$21,788$21,176$20,587$20,020$18,843
4 years$16,650$16,016$15,411$14,832$14,278$13,144
5 years$13,187$12,557$11,959$11,392$10,854$9,765
6 years$10,879$10,254$9,665$9,110$8,588$7,546
7 years$9,231$8,611$8,032$7,490$6,985$5,989
8 years$7,995$7,381$6,811$6,283$5,794$4,845
9 years$7,035$6,427$5,867$5,352$4,880$3,976
10 years$6,267$5,665$5,115$4,613$4,158$3,300
11 years$5,639$5,043$4,503$4,015$3,576$2,762
12 years$5,117$4,526$3,996$3,522$3,099$2,328
13 years$4,674$4,090$3,570$3,109$2,702$1,973
14 years$4,296$3,718$3,208$2,760$2,369$1,680
15 years$3,968$3,397$2,896$2,461$2,086$1,436
16 years$3,682$3,116$2,626$2,204$1,843$1,232
17 years$3,429$2,870$2,390$1,980$1,634$1,059
18 years$3,205$2,652$2,181$1,785$1,453$913
19 years$3,004$2,458$1,997$1,613$1,295$788
20 years$2,824$2,284$1,833$1,460$1,157$682
21 years$2,662$2,127$1,686$1,325$1,035$591
22 years$2,514$1,986$1,554$1,205$928$512
23 years$2,379$1,857$1,435$1,098$833$445
24 years$2,256$1,740$1,327$1,001$749$386
25 years$2,142$1,633$1,229$914$674$336
26 years$2,038$1,535$1,140$836$607$292
27 years$1,942$1,444$1,058$765$547$255
28 years$1,852$1,361$984$701$494$222
29 years$1,769$1,284$915$643$446$193
30 years$1,692$1,213$853$590$403$169
31 years$1,619$1,146$795$542$364$147
32 years$1,552$1,085$742$498$329$128
33 years$1,488$1,027$693$458$298$112
34 years$1,429$974$647$421$270$98
35 years$1,373$923$605$388$244$85
36 years$1,320$876$566$357$222$74
37 years$1,270$832$530$329$201$65
38 years$1,223$791$496$303$182$57
39 years$1,178$752$465$280$165$50
40 years$1,136$716$436$258$150$43
41 years$1,096$681$408$238$136$38
42 years$1,058$649$383$220$123$33
43 years$1,022$618$360$203$112$29
44 years$987$589$337$187$102$25
45 years$955$562$317$173$92$22
46 years$923$536$298$160$84$19
47 years$893$512$280$148$76$17
48 years$865$488$263$136$69$15
49 years$837$466$247$126$63$13
50 years$811$445$232$116$57$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $831,000, adding $6,934 every year, while hoping to spend $51,305 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: 40/47/13 Blend
61$831,000$831,000$831,000$831,000
62$922,914$878,871$865,991$955,993
63$962,464$867,348$840,413$968,518
64$1,004,327$853,540$812,260$976,499
65$1,048,687$837,283$781,389$984,011
66$1,095,742$818,398$747,655$991,034
67$1,145,710$796,702$710,903$997,554
68$1,198,828$771,996$670,974$1,003,555
69$1,255,356$744,071$627,698$1,009,028
70$1,315,578$712,706$580,902$1,013,964
71$1,379,806$677,668$530,402$1,018,362
72$1,448,383$638,710$476,007$1,022,225
73$1,521,680$595,570$417,516$1,025,561
74$1,600,110$547,970$354,720$1,028,388
75$1,684,120$495,620$287,403$1,030,730
76$1,774,205$438,210$215,335$1,032,622
77$1,870,905$375,414$138,280$1,034,110
78$1,974,814$306,886$55,989$1,035,251
79$2,086,583$232,261$0$1,036,119
80$2,206,929$151,156$0$1,041,219
81$2,336,637$63,164$0$1,054,819
82$2,476,569$0$0$1,069,312
83$2,627,676$0$0$1,101,518
84$2,790,997$0$0$1,171,723
85$2,967,680$0$0$1,247,760
86$3,158,982$0$0$1,330,183
87$3,366,287$0$0$1,419,601
88$3,591,118$0$0$1,516,683
89$3,835,148$0$0$1,622,163
90$4,100,218$0$0$1,736,853
91$4,388,353$0$0$1,861,641
92$4,701,779$0$0$1,997,508
93$5,042,948$0$0$2,145,531
94$5,414,557$0$0$2,306,898
95$5,819,572$0$0$2,482,914
96$6,261,259$0$0$2,675,016
97$6,743,214$0$0$2,884,785
98$7,269,392$0$0$3,113,965
99$7,844,149$0$0$3,364,470
100$8,472,279$0$0$3,638,413