Can I retire at age 62 with 729,000?

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 $729,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$60,200$59,664$59,141$58,630$58,131$56,024
2 years$29,802$29,247$28,709$28,188$27,682$25,582
3 years$19,671$19,113$18,577$18,060$17,562$15,536
4 years$14,606$14,050$13,519$13,011$12,526$10,588
5 years$11,568$11,016$10,491$9,994$9,522$7,678
6 years$9,543$8,995$8,479$7,992$7,534$5,786
7 years$8,098$7,554$7,046$6,571$6,127$4,474
8 years$7,014$6,475$5,975$5,512$5,083$3,523
9 years$6,171$5,638$5,147$4,695$4,281$2,812
10 years$5,498$4,969$4,487$4,047$3,647$2,267
11 years$4,947$4,424$3,950$3,522$3,137$1,843
12 years$4,488$3,971$3,506$3,090$2,718$1,507
13 years$4,101$3,588$3,132$2,728$2,371$1,238
14 years$3,769$3,262$2,814$2,421$2,078$1,022
15 years$3,481$2,980$2,541$2,159$1,830$846
16 years$3,230$2,734$2,304$1,933$1,617$702
17 years$3,008$2,518$2,096$1,737$1,434$583
18 years$2,811$2,326$1,914$1,566$1,275$486
19 years$2,636$2,156$1,752$1,415$1,136$405
20 years$2,478$2,004$1,608$1,281$1,015$339
21 years$2,335$1,866$1,479$1,163$908$283
22 years$2,205$1,742$1,363$1,057$814$237
23 years$2,087$1,629$1,258$963$731$198
24 years$1,979$1,527$1,164$878$657$166
25 years$1,879$1,433$1,078$802$591$139
26 years$1,788$1,346$1,000$733$532$117
27 years$1,703$1,267$928$671$480$98
28 years$1,625$1,194$863$615$433$82
29 years$1,552$1,126$803$564$391$69
30 years$1,484$1,064$748$518$353$58
31 years$1,421$1,006$697$475$320$49
32 years$1,361$952$651$437$289$41
33 years$1,306$901$608$402$262$34
34 years$1,253$854$568$370$237$29
35 years$1,204$810$531$340$214$24
36 years$1,158$769$496$313$194$20
37 years$1,114$730$465$289$176$17
38 years$1,073$694$435$266$160$14
39 years$1,034$660$408$245$145$12
40 years$997$628$382$226$131$10
41 years$962$598$358$209$119$9
42 years$928$569$336$193$108$7
43 years$896$542$315$178$98$6
44 years$866$517$296$164$89$5
45 years$837$493$278$152$81$4
46 years$810$470$261$140$73$4
47 years$784$449$245$129$67$3
48 years$759$428$231$120$61$3
49 years$735$409$217$111$55$2
50 years$712$391$204$102$50$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $729,000, adding $2,638 every year, while hoping to spend $32,646 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: 75/6/19 Blend
61$729,000$729,000$729,000$729,000
62$806,079$767,442$756,143$862,774
63$853,564$770,312$746,738$903,568
64$904,798$772,228$735,925$944,004
65$960,130$773,109$723,620$987,472
66$1,019,941$772,869$709,740$1,034,265
67$1,084,652$771,417$694,193$1,084,707
68$1,154,725$768,655$676,887$1,139,157
69$1,230,668$764,480$657,723$1,198,007
70$1,313,039$758,782$636,600$1,261,693
71$1,402,452$751,446$613,409$1,330,695
72$1,499,583$742,348$588,040$1,405,540
73$1,605,176$731,357$560,374$1,486,811
74$1,720,046$718,336$530,289$1,575,153
75$1,845,095$703,139$497,657$1,671,273
76$1,981,310$685,609$462,345$1,775,954
77$2,129,783$665,582$424,212$1,890,058
78$2,291,710$642,885$383,113$2,014,537
79$2,468,412$617,334$338,894$2,150,440
80$2,661,340$588,733$291,397$2,298,922
81$2,872,093$556,878$240,456$2,461,260
82$3,102,431$521,549$185,895$2,638,861
83$3,354,290$482,517$127,534$2,833,276
84$3,629,805$439,537$65,184$3,046,215
85$3,931,324$392,353$0$3,279,565
86$4,261,433$340,692$0$3,535,680
87$4,622,980$284,267$0$3,830,701
88$5,019,102$222,774$0$4,153,971
89$5,453,253$155,892$0$4,508,324
90$5,929,236$83,282$0$4,896,883
91$6,451,241$4,587$0$5,323,088
92$7,023,884$0$0$5,790,729
93$7,652,246$0$0$6,309,301
94$8,341,928$0$0$6,878,841
95$9,099,095$0$0$7,504,143
96$9,930,541$0$0$8,190,821
97$10,843,750$0$0$8,945,060
98$11,846,966$0$0$9,773,673
99$12,949,269$0$0$10,684,165
100$14,160,666$0$0$11,684,805