Can I retire at age 62 with 841,000?

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 $841,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$69,449$68,830$68,227$67,638$67,063$64,864
2 years$34,381$33,740$33,120$32,518$31,935$29,740
3 years$22,693$22,050$21,431$20,835$20,261$18,140
4 years$16,850$16,209$15,596$15,010$14,450$12,419
5 years$13,345$12,708$12,103$11,529$10,985$9,049
6 years$11,009$10,377$9,781$9,220$8,692$6,852
7 years$9,342$8,715$8,128$7,580$7,069$5,326
8 years$8,091$7,470$6,893$6,359$5,864$4,216
9 years$7,120$6,504$5,937$5,416$4,939$3,384
10 years$6,343$5,733$5,176$4,669$4,208$2,744
11 years$5,707$5,104$4,557$4,063$3,619$2,243
12 years$5,178$4,581$4,044$3,564$3,136$1,845
13 years$4,731$4,140$3,613$3,147$2,735$1,526
14 years$4,348$3,763$3,247$2,793$2,397$1,267
15 years$4,016$3,437$2,931$2,491$2,111$1,055
16 years$3,726$3,154$2,658$2,230$1,865$881
17 years$3,470$2,905$2,418$2,004$1,654$738
18 years$3,243$2,684$2,208$1,806$1,471$619
19 years$3,041$2,487$2,021$1,632$1,311$520
20 years$2,858$2,311$1,855$1,478$1,171$437
21 years$2,694$2,153$1,706$1,341$1,048$368
22 years$2,544$2,010$1,572$1,220$939$310
23 years$2,408$1,880$1,452$1,111$843$262
24 years$2,283$1,761$1,343$1,013$758$221
25 years$2,168$1,653$1,244$925$682$186
26 years$2,063$1,553$1,153$846$614$157
27 years$1,965$1,462$1,071$774$554$133
28 years$1,874$1,378$996$709$500$112
29 years$1,790$1,300$926$651$451$95
30 years$1,712$1,227$863$597$408$80
31 years$1,639$1,160$805$548$369$68
32 years$1,570$1,098$751$504$333$58
33 years$1,506$1,040$701$463$302$49
34 years$1,446$985$655$426$273$41
35 years$1,389$935$612$393$247$35
36 years$1,336$887$573$362$224$29
37 years$1,285$842$536$333$203$25
38 years$1,238$801$502$307$184$21
39 years$1,193$761$470$283$167$18
40 years$1,150$724$441$261$152$15
41 years$1,109$689$413$241$137$13
42 years$1,071$657$388$222$125$11
43 years$1,034$626$364$205$113$9
44 years$999$596$342$189$103$8
45 years$966$569$321$175$93$7
46 years$934$543$301$162$85$6
47 years$904$518$283$149$77$5
48 years$875$494$266$138$70$4
49 years$848$472$250$128$63$3
50 years$821$451$235$118$58$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $841,000, adding $3,002 every year, while hoping to spend $50,856 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: 34/42/24 Blend
61$841,000$841,000$841,000$841,000
62$929,879$885,306$872,270$954,617
63$970,616$874,575$847,381$962,600
64$1,013,804$861,614$819,953$966,376
65$1,059,639$846,261$789,849$969,429
66$1,108,335$828,341$756,922$971,727
67$1,160,128$807,672$721,021$973,241
68$1,215,274$784,061$681,989$973,941
69$1,274,055$757,303$639,658$973,802
70$1,336,778$727,180$593,856$972,801
71$1,403,782$693,464$544,402$970,919
72$1,475,435$655,911$491,107$968,140
73$1,552,143$614,265$433,774$964,454
74$1,634,352$568,254$372,195$959,857
75$1,722,548$517,591$306,156$954,353
76$1,817,268$461,972$235,432$947,952
77$1,919,098$401,078$159,787$940,675
78$2,028,683$334,568$78,977$932,554
79$2,146,732$262,085$0$923,633
80$2,274,022$183,251$0$915,831
81$2,411,408$97,666$0$929,066
82$2,559,828$4,908$0$943,259
83$2,720,315$0$0$958,599
84$2,894,003$0$0$1,019,426
85$3,082,137$0$0$1,087,872
86$3,286,088$0$0$1,162,180
87$3,507,364$0$0$1,242,912
88$3,747,623$0$0$1,330,689
89$4,008,686$0$0$1,426,190
90$4,292,561$0$0$1,530,164
91$4,601,452$0$0$1,643,438
92$4,937,789$0$0$1,766,916
93$5,304,243$0$0$1,901,599
94$5,703,753$0$0$2,048,585
95$6,139,554$0$0$2,209,083
96$6,615,210$0$0$2,384,427
97$7,134,639$0$0$2,576,080
98$7,702,156$0$0$2,785,658
99$8,322,514$0$0$3,014,938
100$9,000,943$0$0$3,265,876