Can I retire at age 62 with 834,000?

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 $834,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$68,871$68,257$67,659$67,075$66,504$65,782
2 years$34,095$33,460$32,844$32,247$31,669$30,942
3 years$22,504$21,866$21,252$20,661$20,092$19,383
4 years$16,710$16,074$15,466$14,885$14,330$13,644
5 years$13,234$12,602$12,002$11,433$10,893$10,232
6 years$10,918$10,291$9,700$9,143$8,619$7,984
7 years$9,264$8,642$8,061$7,517$7,010$6,401
8 years$8,024$7,408$6,836$6,306$5,815$5,232
9 years$7,060$6,450$5,888$5,371$4,897$4,340
10 years$6,290$5,685$5,133$4,630$4,173$3,641
11 years$5,660$5,061$4,519$4,030$3,589$3,082
12 years$5,135$4,543$4,011$3,535$3,110$2,628
13 years$4,691$4,105$3,583$3,120$2,712$2,254
14 years$4,311$3,732$3,220$2,770$2,377$1,943
15 years$3,982$3,409$2,907$2,470$2,093$1,681
16 years$3,695$3,128$2,635$2,212$1,850$1,460
17 years$3,441$2,880$2,398$1,987$1,640$1,271
18 years$3,216$2,662$2,189$1,791$1,458$1,110
19 years$3,015$2,467$2,004$1,618$1,300$971
20 years$2,835$2,292$1,839$1,466$1,161$851
21 years$2,671$2,135$1,692$1,330$1,039$748
22 years$2,523$1,993$1,559$1,209$931$657
23 years$2,388$1,864$1,440$1,102$836$579
24 years$2,264$1,746$1,331$1,005$751$510
25 years$2,150$1,639$1,233$918$676$450
26 years$2,045$1,540$1,144$839$609$397
27 years$1,949$1,450$1,062$768$549$351
28 years$1,859$1,366$987$704$496$310
29 years$1,775$1,289$919$645$447$274
30 years$1,698$1,217$856$592$404$243
31 years$1,625$1,151$798$544$366$215
32 years$1,557$1,089$744$500$331$190
33 years$1,494$1,031$695$460$299$168
34 years$1,434$977$649$423$271$149
35 years$1,378$927$607$389$245$132
36 years$1,325$880$568$358$222$117
37 years$1,275$835$532$330$202$104
38 years$1,227$794$498$304$183$92
39 years$1,183$755$466$281$166$82
40 years$1,140$718$437$259$150$73
41 years$1,100$684$410$239$136$64
42 years$1,062$651$385$220$124$57
43 years$1,025$620$361$204$112$51
44 years$991$591$339$188$102$45
45 years$958$564$318$174$93$40
46 years$927$538$299$160$84$35
47 years$897$513$281$148$76$31
48 years$868$490$264$137$69$28
49 years$840$468$248$126$63$25
50 years$814$447$233$117$57$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $834,000, adding $2,873 every year, while hoping to spend $45,788 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: 83/11/6 Blend
61$834,000$834,000$834,000$834,000
62$922,031$877,829$864,902$997,998
63$967,361$872,125$845,159$1,042,334
64$1,015,779$864,606$823,219$1,084,533
65$1,067,552$855,137$798,961$1,129,437
66$1,122,974$843,570$772,258$1,177,289
67$1,182,365$829,752$742,976$1,228,356
68$1,246,076$813,520$710,975$1,282,933
69$1,314,494$794,700$676,111$1,341,343
70$1,388,042$773,110$638,230$1,403,944
71$1,467,185$748,555$597,173$1,471,130
72$1,552,433$720,830$552,775$1,543,332
73$1,644,349$689,718$504,860$1,621,029
74$1,743,547$654,989$453,247$1,704,746
75$1,850,705$616,399$397,747$1,795,063
76$1,966,566$573,692$338,161$1,892,619
77$2,091,949$526,596$274,282$1,998,118
78$2,227,751$474,823$205,894$2,112,334
79$2,374,962$418,069$132,772$2,236,124
80$2,534,668$356,014$54,679$2,370,429
81$2,708,063$288,319$0$2,516,289
82$2,896,463$214,624$0$2,676,684
83$3,101,314$134,551$0$2,854,896
84$3,324,205$47,702$0$3,048,830
85$3,566,889$0$0$3,260,039
86$3,831,289$0$0$3,495,842
87$4,119,527$0$0$3,759,214
88$4,433,934$0$0$4,046,515
89$4,777,079$0$0$4,360,091
90$5,151,788$0$0$4,702,529
91$5,561,171$0$0$5,076,673
92$6,008,654$0$0$5,485,656
93$6,498,009$0$0$5,932,927
94$7,033,386$0$0$6,422,283
95$7,619,358$0$0$6,957,905
96$8,260,959$0$0$7,544,399
97$8,963,732$0$0$8,186,833
98$9,733,784$0$0$8,890,793
99$10,577,837$0$0$9,662,426
100$11,503,296$0$0$10,508,507