Can I retire at age 62 with 722,000?

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 $722,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$59,622$59,091$58,573$58,067$57,573$56,250
2 years$29,516$28,966$28,433$27,917$27,416$26,090
3 years$19,482$18,930$18,398$17,887$17,394$16,107
4 years$14,466$13,915$13,389$12,886$12,405$11,167
5 years$11,457$10,910$10,391$9,898$9,430$8,244
6 years$9,452$8,909$8,397$7,915$7,462$6,329
7 years$8,020$7,481$6,978$6,508$6,069$4,989
8 years$6,947$6,413$5,918$5,459$5,034$4,009
9 years$6,112$5,584$5,097$4,650$4,240$3,266
10 years$5,445$4,922$4,444$4,008$3,612$2,690
11 years$4,900$4,382$3,912$3,488$3,107$2,235
12 years$4,445$3,933$3,472$3,060$2,692$1,869
13 years$4,061$3,554$3,102$2,701$2,348$1,572
14 years$3,732$3,230$2,787$2,398$2,058$1,327
15 years$3,448$2,951$2,516$2,139$1,812$1,125
16 years$3,199$2,708$2,282$1,915$1,601$957
17 years$2,979$2,494$2,076$1,720$1,420$816
18 years$2,784$2,304$1,895$1,551$1,263$697
19 years$2,610$2,135$1,735$1,401$1,125$596
20 years$2,454$1,984$1,592$1,269$1,005$511
21 years$2,312$1,848$1,465$1,152$900$439
22 years$2,184$1,725$1,350$1,047$806$377
23 years$2,067$1,614$1,246$954$724$324
24 years$1,960$1,512$1,153$870$651$279
25 years$1,861$1,419$1,068$794$585$240
26 years$1,771$1,334$990$726$527$207
27 years$1,687$1,255$919$665$475$179
28 years$1,609$1,183$855$609$429$154
29 years$1,537$1,116$795$559$387$133
30 years$1,470$1,054$741$513$350$115
31 years$1,407$996$691$471$316$99
32 years$1,348$942$644$433$286$86
33 years$1,293$892$602$398$259$74
34 years$1,241$846$562$366$235$64
35 years$1,193$802$526$337$212$55
36 years$1,147$761$492$310$192$48
37 years$1,103$723$460$286$174$41
38 years$1,062$687$431$264$158$36
39 years$1,024$654$404$243$143$31
40 years$987$622$378$224$130$27
41 years$952$592$355$207$118$23
42 years$919$564$333$191$107$20
43 years$888$537$312$176$97$17
44 years$858$512$293$163$88$15
45 years$829$488$275$150$80$13
46 years$802$466$259$139$73$11
47 years$776$444$243$128$66$10
48 years$751$424$228$118$60$8
49 years$728$405$215$109$54$7
50 years$705$387$202$101$49$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $722,000, adding $3,026 every year, while hoping to spend $41,136 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: 62/20/18 Blend
61$722,000$722,000$722,000$722,000
62$798,765$760,499$749,308$844,448
63$836,471$753,995$730,642$869,081
64$876,644$745,794$709,971$891,072
65$919,492$735,769$687,186$914,118
66$965,244$723,785$662,171$938,326
67$1,014,150$709,701$634,804$963,814
68$1,066,483$693,367$604,960$990,714
69$1,122,545$674,622$572,506$1,019,175
70$1,182,663$653,297$537,304$1,049,359
71$1,247,201$629,215$499,210$1,081,451
72$1,316,555$602,186$458,073$1,115,652
73$1,391,160$572,010$413,735$1,152,190
74$1,471,496$538,475$366,032$1,191,317
75$1,558,085$501,358$314,791$1,233,313
76$1,651,507$460,421$259,834$1,278,488
77$1,752,395$415,416$200,972$1,327,190
78$1,861,445$366,077$138,010$1,379,801
79$1,979,422$312,124$70,744$1,436,749
80$2,107,168$253,264$0$1,498,506
81$2,245,609$189,184$0$1,565,799
82$2,395,762$119,554$0$1,653,523
83$2,558,744$44,027$0$1,748,768
84$2,735,787$0$0$1,852,297
85$2,928,244$0$0$1,973,264
86$3,137,604$0$0$2,115,444
87$3,365,506$0$0$2,270,264
88$3,613,750$0$0$2,438,955
89$3,884,323$0$0$2,622,873
90$4,179,405$0$0$2,823,507
91$4,501,401$0$0$3,042,498
92$4,852,955$0$0$3,281,653
93$5,236,978$0$0$3,542,960
94$5,656,676$0$0$3,828,607
95$6,115,577$0$0$4,141,004
96$6,617,566$0$0$4,482,805
97$7,166,922$0$0$4,856,931
98$7,768,355$0$0$5,266,601
99$8,427,051$0$0$5,715,355
100$9,148,723$0$0$6,207,097