Can I retire at age 62 with 731,000?

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 $731,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$60,365$59,828$59,303$58,791$58,291$57,972
2 years$29,884$29,327$28,788$28,265$27,758$27,436
3 years$19,725$19,166$18,628$18,110$17,611$17,296
4 years$14,646$14,089$13,556$13,047$12,560$12,255
5 years$11,600$11,046$10,520$10,021$9,548$9,253
6 years$9,569$9,020$8,502$8,014$7,555$7,271
7 years$8,120$7,575$7,065$6,589$6,144$5,871
8 years$7,033$6,493$5,992$5,527$5,097$4,835
9 years$6,188$5,653$5,161$4,708$4,293$4,041
10 years$5,513$4,983$4,499$4,058$3,657$3,417
11 years$4,961$4,436$3,961$3,532$3,146$2,916
12 years$4,501$3,982$3,515$3,098$2,726$2,506
13 years$4,112$3,598$3,141$2,735$2,377$2,168
14 years$3,779$3,271$2,822$2,428$2,084$1,884
15 years$3,491$2,988$2,548$2,165$1,835$1,645
16 years$3,239$2,741$2,310$1,939$1,621$1,441
17 years$3,016$2,525$2,102$1,742$1,438$1,267
18 years$2,819$2,333$1,919$1,570$1,278$1,116
19 years$2,643$2,162$1,757$1,418$1,139$986
20 years$2,484$2,009$1,612$1,285$1,018$872
21 years$2,341$1,871$1,483$1,166$911$773
22 years$2,211$1,747$1,367$1,060$816$687
23 years$2,093$1,634$1,262$965$733$610
24 years$1,984$1,531$1,167$881$659$543
25 years$1,885$1,437$1,081$804$593$484
26 years$1,793$1,350$1,002$735$534$432
27 years$1,708$1,271$931$673$481$385
28 years$1,629$1,197$865$617$434$344
29 years$1,556$1,130$805$565$392$308
30 years$1,488$1,067$750$519$354$275
31 years$1,424$1,008$699$477$320$246
32 years$1,365$954$652$438$290$220
33 years$1,309$904$609$403$262$197
34 years$1,257$856$569$371$237$177
35 years$1,207$812$532$341$215$158
36 years$1,161$771$498$314$195$142
37 years$1,117$732$466$290$177$127
38 years$1,076$696$436$267$160$114
39 years$1,037$662$409$246$145$102
40 years$999$630$383$227$132$92
41 years$964$599$359$209$119$82
42 years$931$571$337$193$108$74
43 years$899$544$316$178$98$66
44 years$869$518$297$165$89$59
45 years$840$494$279$152$81$53
46 years$812$472$262$141$74$48
47 years$786$450$246$130$67$43
48 years$761$430$231$120$61$39
49 years$737$410$217$111$55$35
50 years$714$392$204$102$50$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $731,000, adding $5,973 every year, while hoping to spend $38,772 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: 86/7/7 Blend
61$731,000$731,000$731,000$731,000
62$811,723$772,980$761,650$880,572
63$853,266$769,603$745,912$922,989
64$897,746$764,761$728,347$963,639
65$945,423$758,341$708,854$1,007,068
66$996,581$750,224$687,325$1,053,526
67$1,051,531$740,284$663,648$1,103,294
68$1,110,614$728,385$637,708$1,156,675
69$1,174,206$714,385$609,381$1,214,007
70$1,242,719$698,134$578,539$1,275,661
71$1,316,607$679,473$545,050$1,342,043
72$1,396,365$658,231$508,774$1,413,603
73$1,482,541$634,231$469,564$1,490,835
74$1,575,734$607,283$427,269$1,574,284
75$1,676,606$577,187$381,730$1,664,548
76$1,785,881$543,731$332,779$1,762,289
77$1,904,358$506,690$280,244$1,868,233
78$2,032,913$465,828$223,943$1,983,181
79$2,172,512$420,895$163,686$2,108,016
80$2,324,215$371,626$99,277$2,243,710
81$2,489,190$317,741$30,508$2,391,335
82$2,668,722$258,945$0$2,552,069
83$2,864,223$194,925$0$2,730,418
84$3,077,250$125,352$0$2,927,249
85$3,309,513$49,878$0$3,141,880
86$3,562,895$0$0$3,376,068
87$3,839,471$0$0$3,634,203
88$4,141,521$0$0$3,920,320
89$4,471,560$0$0$4,232,956
90$4,832,352$0$0$4,574,734
91$5,226,942$0$0$4,948,538
92$5,658,684$0$0$5,357,547
93$6,131,269$0$0$5,805,258
94$6,648,764$0$0$6,295,525
95$7,215,643$0$0$6,832,591
96$7,836,839$0$0$7,421,127
97$8,517,781$0$0$8,066,280
98$9,264,448$0$0$8,773,717
99$10,083,428$0$0$9,549,680
100$10,981,975$0$0$10,401,043