Can I retire at age 62 with 723,000?

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 $723,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$59,705$59,173$58,654$58,148$57,653$56,305
2 years$29,557$29,006$28,473$27,956$27,454$26,103
3 years$19,509$18,956$18,424$17,911$17,418$16,107
4 years$14,486$13,935$13,408$12,904$12,423$11,162
5 years$11,473$10,925$10,405$9,912$9,443$8,236
6 years$9,465$8,921$8,409$7,926$7,472$6,319
7 years$8,031$7,492$6,988$6,517$6,077$4,979
8 years$6,956$6,422$5,926$5,467$5,041$3,998
9 years$6,121$5,591$5,104$4,656$4,246$3,256
10 years$5,453$4,929$4,450$4,014$3,617$2,680
11 years$4,906$4,388$3,918$3,493$3,111$2,225
12 years$4,452$3,938$3,477$3,064$2,696$1,859
13 years$4,067$3,559$3,106$2,705$2,351$1,562
14 years$3,738$3,235$2,791$2,401$2,061$1,319
15 years$3,452$2,955$2,520$2,142$1,815$1,117
16 years$3,203$2,711$2,285$1,918$1,604$949
17 years$2,983$2,497$2,079$1,723$1,422$809
18 years$2,788$2,307$1,898$1,553$1,264$690
19 years$2,614$2,138$1,737$1,403$1,127$590
20 years$2,457$1,987$1,594$1,271$1,007$506
21 years$2,316$1,851$1,467$1,153$901$434
22 years$2,187$1,728$1,352$1,049$807$372
23 years$2,070$1,616$1,248$955$725$320
24 years$1,963$1,514$1,154$871$651$275
25 years$1,864$1,421$1,069$795$586$237
26 years$1,773$1,335$992$727$528$204
27 years$1,689$1,257$921$666$476$176
28 years$1,611$1,184$856$610$430$152
29 years$1,539$1,117$796$559$388$131
30 years$1,472$1,055$742$513$350$113
31 years$1,409$997$692$471$317$97
32 years$1,350$944$645$433$287$84
33 years$1,295$894$603$398$259$72
34 years$1,243$847$563$367$235$63
35 years$1,194$803$526$337$213$54
36 years$1,148$763$492$311$193$47
37 years$1,105$724$461$286$175$40
38 years$1,064$688$432$264$158$35
39 years$1,025$655$404$243$144$30
40 years$988$623$379$224$130$26
41 years$954$593$355$207$118$22
42 years$920$565$333$191$107$19
43 years$889$538$313$176$97$17
44 years$859$513$294$163$88$14
45 years$830$489$276$150$80$13
46 years$803$466$259$139$73$11
47 years$777$445$243$128$66$9
48 years$752$425$229$119$60$8
49 years$729$406$215$110$55$7
50 years$706$388$202$101$50$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $723,000, adding $3,908 every year, while hoping to spend $45,290 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: 47/44/9 Blend
61$723,000$723,000$723,000$723,000
62$800,777$762,458$751,252$836,260
63$834,268$751,630$728,230$850,254
64$869,657$738,754$702,920$860,396
65$907,091$723,681$675,196$870,362
66$946,727$706,255$644,928$880,150
67$988,740$686,308$611,980$889,760
68$1,033,320$663,666$576,210$899,196
69$1,080,675$638,142$537,469$908,467
70$1,131,032$609,538$495,602$917,585
71$1,184,639$577,648$450,447$926,568
72$1,241,768$542,249$401,833$935,438
73$1,302,718$503,109$349,584$944,226
74$1,367,816$459,981$293,515$952,972
75$1,437,418$412,605$233,433$961,721
76$1,511,917$360,705$169,135$970,531
77$1,591,743$303,990$100,412$979,471
78$1,677,368$242,153$27,044$988,624
79$1,769,310$174,869$0$998,086
80$1,868,137$101,795$0$1,012,894
81$1,974,473$22,569$0$1,031,349
82$2,089,002$0$0$1,051,029
83$2,212,476$0$0$1,102,736
84$2,345,723$0$0$1,170,389
85$2,489,649$0$0$1,243,530
86$2,645,252$0$0$1,322,676
87$2,813,630$0$0$1,408,392
88$2,995,986$0$0$1,501,301
89$3,193,647$0$0$1,602,089
90$3,408,070$0$0$1,711,508
91$3,640,856$0$0$1,830,387
92$3,893,770$0$0$1,959,637
93$4,168,750$0$0$2,100,262
94$4,467,928$0$0$2,253,363
95$4,793,653$0$0$2,420,155
96$5,148,507$0$0$2,601,974
97$5,535,331$0$0$2,800,289
98$5,957,255$0$0$3,016,720
99$6,417,720$0$0$3,253,047
100$6,920,517$0$0$3,511,231