Can I retire at age 62 with 715,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $715,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$59,044$58,518$58,005$57,504$57,015$56,117
2 years$29,230$28,685$28,158$27,646$27,150$26,247
3 years$19,293$18,746$18,220$17,713$17,225$16,346
4 years$14,325$13,780$13,259$12,761$12,285$11,437
5 years$11,346$10,804$10,290$9,802$9,339$8,523
6 years$9,360$8,822$8,316$7,839$7,390$6,608
7 years$7,942$7,409$6,910$6,445$6,010$5,262
8 years$6,879$6,351$5,861$5,406$4,986$4,272
9 years$6,053$5,530$5,048$4,605$4,199$3,519
10 years$5,392$4,874$4,401$3,969$3,577$2,930
11 years$4,852$4,339$3,874$3,455$3,077$2,462
12 years$4,402$3,895$3,438$3,030$2,666$2,083
13 years$4,022$3,519$3,072$2,675$2,325$1,773
14 years$3,696$3,199$2,760$2,375$2,038$1,516
15 years$3,414$2,922$2,492$2,118$1,794$1,301
16 years$3,168$2,681$2,259$1,896$1,586$1,120
17 years$2,950$2,469$2,056$1,704$1,406$968
18 years$2,757$2,282$1,877$1,535$1,250$838
19 years$2,585$2,115$1,718$1,387$1,114$726
20 years$2,430$1,965$1,577$1,257$995$631
21 years$2,290$1,830$1,450$1,140$891$549
22 years$2,163$1,709$1,337$1,037$799$478
23 years$2,047$1,598$1,234$944$717$417
24 years$1,941$1,497$1,141$861$644$364
25 years$1,843$1,405$1,057$787$580$318
26 years$1,754$1,321$981$719$522$278
27 years$1,671$1,243$911$658$471$244
28 years$1,594$1,171$846$603$425$213
29 years$1,522$1,105$788$553$384$187
30 years$1,455$1,043$734$508$347$164
31 years$1,393$986$684$466$313$143
32 years$1,335$933$638$428$283$126
33 years$1,280$884$596$394$257$110
34 years$1,229$838$557$363$232$97
35 years$1,181$795$521$334$210$85
36 years$1,136$754$487$307$191$74
37 years$1,093$716$456$283$173$65
38 years$1,052$681$427$261$157$57
39 years$1,014$647$400$241$142$50
40 years$978$616$375$222$129$44
41 years$943$586$351$205$117$39
42 years$910$558$330$189$106$34
43 years$879$532$309$174$96$30
44 years$850$507$290$161$87$26
45 years$821$484$273$149$79$23
46 years$794$461$256$137$72$20
47 years$769$440$241$127$65$18
48 years$744$420$226$117$59$16
49 years$721$401$213$108$54$14
50 years$698$383$200$100$49$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $715,000, adding $5,875 every year, while hoping to spend $46,170 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: 35/47/18 Blend
61$715,000$715,000$715,000$715,000
62$793,990$756,095$745,013$817,222
63$825,853$744,019$720,846$822,635
64$859,418$729,804$694,322$823,739
65$894,810$713,296$665,314$823,958
66$932,166$694,333$633,688$823,240
67$971,634$672,743$599,303$821,532
68$1,013,376$648,343$562,015$818,778
69$1,057,569$620,940$521,671$814,925
70$1,104,405$590,330$478,111$809,915
71$1,154,097$556,298$431,170$803,694
72$1,206,873$518,616$380,673$796,206
73$1,262,987$477,041$326,438$787,395
74$1,322,715$431,319$268,277$777,206
75$1,386,358$381,179$205,990$765,587
76$1,454,247$326,339$139,372$752,486
77$1,526,746$266,494$68,207$737,855
78$1,604,251$201,329$0$721,648
79$1,687,197$130,507$0$705,311
80$1,776,062$53,673$0$701,396
81$1,871,369$0$0$696,808
82$1,973,694$0$0$706,854
83$2,083,666$0$0$747,557
84$2,201,978$0$0$791,422
85$2,329,390$0$0$838,742
86$2,466,736$0$0$889,836
87$2,614,934$0$0$945,056
88$2,774,990$0$0$1,004,788
89$2,948,012$0$0$1,069,459
90$3,135,217$0$0$1,139,535
91$3,337,942$0$0$1,215,529
92$3,557,656$0$0$1,298,008
93$3,795,978$0$0$1,387,592
94$4,054,685$0$0$1,484,965
95$4,335,733$0$0$1,590,879
96$4,641,274$0$0$1,706,162
97$4,973,673$0$0$1,831,723
98$5,335,535$0$0$1,968,564
99$5,729,725$0$0$2,117,789
100$6,159,397$0$0$2,280,610