Can I retire at age 62 with 719,000?

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 $719,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$59,374$58,845$58,329$57,826$57,334$56,688
2 years$29,393$28,846$28,315$27,801$27,302$26,652
3 years$19,401$18,851$18,322$17,812$17,321$16,687
4 years$14,406$13,858$13,334$12,833$12,354$11,740
5 years$11,409$10,864$10,347$9,857$9,391$8,800
6 years$9,412$8,872$8,362$7,883$7,431$6,863
7 years$7,987$7,450$6,949$6,481$6,043$5,499
8 years$6,918$6,386$5,893$5,436$5,014$4,493
9 years$6,087$5,560$5,076$4,631$4,222$3,724
10 years$5,422$4,901$4,425$3,992$3,597$3,123
11 years$4,879$4,363$3,896$3,474$3,094$2,642
12 years$4,427$3,916$3,458$3,047$2,681$2,251
13 years$4,044$3,539$3,089$2,690$2,338$1,929
14 years$3,717$3,217$2,776$2,388$2,049$1,662
15 years$3,433$2,939$2,506$2,130$1,805$1,437
16 years$3,185$2,696$2,272$1,907$1,595$1,247
17 years$2,967$2,483$2,067$1,713$1,414$1,085
18 years$2,773$2,295$1,887$1,544$1,257$947
19 years$2,600$2,127$1,728$1,395$1,121$828
20 years$2,444$1,976$1,586$1,264$1,001$725
21 years$2,303$1,841$1,459$1,147$896$636
22 years$2,175$1,718$1,344$1,043$803$559
23 years$2,058$1,607$1,241$950$721$492
24 years$1,952$1,506$1,148$866$648$433
25 years$1,854$1,413$1,063$791$583$382
26 years$1,763$1,328$986$723$525$337
27 years$1,680$1,250$916$662$473$297
28 years$1,602$1,178$851$607$427$262
29 years$1,531$1,111$792$556$386$232
30 years$1,464$1,049$738$510$349$205
31 years$1,401$992$688$469$315$181
32 years$1,342$939$642$431$285$160
33 years$1,288$889$599$396$258$142
34 years$1,236$842$560$365$234$126
35 years$1,188$799$523$336$212$111
36 years$1,142$758$490$309$192$99
37 years$1,099$720$458$285$174$87
38 years$1,058$684$429$262$157$77
39 years$1,020$651$402$242$143$69
40 years$983$619$377$223$130$61
41 years$948$589$353$206$118$54
42 years$915$561$332$190$107$48
43 years$884$535$311$175$97$42
44 years$854$510$292$162$88$38
45 years$826$486$274$150$80$33
46 years$799$464$258$138$72$30
47 years$773$443$242$128$66$26
48 years$748$423$227$118$60$23
49 years$725$404$214$109$54$21
50 years$702$385$201$101$49$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $719,000, adding $5,346 every year, while hoping to spend $59,631 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: 34/37/29 Blend
61$719,000$719,000$719,000$719,000
62$797,852$759,745$748,601$817,841
63$815,786$733,526$710,232$807,197
64$833,551$704,023$668,579$790,043
65$851,066$671,013$623,470$770,402
66$868,242$634,260$574,722$748,095
67$884,975$593,511$522,149$722,929
68$901,153$548,504$465,551$694,700
69$916,648$498,957$404,724$663,190
70$931,315$444,575$339,451$628,166
71$944,995$385,046$269,509$589,379
72$957,509$320,038$194,663$546,564
73$968,658$249,202$114,666$499,437
74$978,219$172,171$29,265$447,695
75$985,943$88,553$0$391,014
76$991,556$0$0$348,194
77$994,750$0$0$311,466
78$995,185$0$0$309,700
79$992,482$0$0$306,697
80$986,220$0$0$302,298
81$975,934$0$0$296,327
82$961,106$0$0$288,587
83$941,162$0$0$278,862
84$915,468$0$0$266,911
85$883,320$0$0$252,468
86$843,938$0$0$235,240
87$796,461$0$0$214,901
88$739,934$0$0$191,091
89$673,302$0$0$163,412
90$595,397$0$0$131,423
91$504,929$0$0$94,639
92$400,470$0$0$52,522
93$280,443$0$0$4,478
94$143,106$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0