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%12.6%
1 years$60,365$59,828$59,303$58,791$58,291$57,658
2 years$29,884$29,327$28,788$28,265$27,758$27,121
3 years$19,725$19,166$18,628$18,110$17,611$16,989
4 years$14,646$14,089$13,556$13,047$12,560$11,959
5 years$11,600$11,046$10,520$10,021$9,548$8,968
6 years$9,569$9,020$8,502$8,014$7,555$6,998
7 years$8,120$7,575$7,065$6,589$6,144$5,610
8 years$7,033$6,493$5,992$5,527$5,097$4,586
9 years$6,188$5,653$5,161$4,708$4,293$3,804
10 years$5,513$4,983$4,499$4,058$3,657$3,192
11 years$4,961$4,436$3,961$3,532$3,146$2,702
12 years$4,501$3,982$3,515$3,098$2,726$2,303
13 years$4,112$3,598$3,141$2,735$2,377$1,976
14 years$3,779$3,271$2,822$2,428$2,084$1,703
15 years$3,491$2,988$2,548$2,165$1,835$1,474
16 years$3,239$2,741$2,310$1,939$1,621$1,280
17 years$3,016$2,525$2,102$1,742$1,438$1,114
18 years$2,819$2,333$1,919$1,570$1,278$973
19 years$2,643$2,162$1,757$1,418$1,139$851
20 years$2,484$2,009$1,612$1,285$1,018$746
21 years$2,341$1,871$1,483$1,166$911$655
22 years$2,211$1,747$1,367$1,060$816$576
23 years$2,093$1,634$1,262$965$733$507
24 years$1,984$1,531$1,167$881$659$447
25 years$1,885$1,437$1,081$804$593$394
26 years$1,793$1,350$1,002$735$534$348
27 years$1,708$1,271$931$673$481$307
28 years$1,629$1,197$865$617$434$272
29 years$1,556$1,130$805$565$392$240
30 years$1,488$1,067$750$519$354$213
31 years$1,424$1,008$699$477$320$188
32 years$1,365$954$652$438$290$167
33 years$1,309$904$609$403$262$148
34 years$1,257$856$569$371$237$131
35 years$1,207$812$532$341$215$116
36 years$1,161$771$498$314$195$103
37 years$1,117$732$466$290$177$91
38 years$1,076$696$436$267$160$81
39 years$1,037$662$409$246$145$72
40 years$999$630$383$227$132$64
41 years$964$599$359$209$119$56
42 years$931$571$337$193$108$50
43 years$899$544$316$178$98$44
44 years$869$518$297$165$89$39
45 years$840$494$279$152$81$35
46 years$812$472$262$141$74$31
47 years$786$450$246$130$67$28
48 years$761$430$231$120$61$24
49 years$737$410$217$111$55$22
50 years$714$392$204$102$50$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $731,000, adding $2,381 every year, while hoping to spend $45,949 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: 49/37/14 Blend
61$731,000$731,000$731,000$731,000
62$808,018$769,275$757,945$844,380
63$841,546$758,080$734,446$858,478
64$876,955$744,797$708,621$868,818
65$914,386$729,274$680,342$879,029
66$953,997$711,352$649,477$889,115
67$995,958$690,861$615,887$899,083
68$1,040,456$667,623$579,430$908,944
69$1,087,694$641,448$539,952$918,711
70$1,137,895$612,136$497,297$928,405
71$1,191,304$579,474$451,300$938,051
72$1,248,186$543,238$401,788$947,682
73$1,308,835$503,190$348,581$957,337
74$1,373,570$459,080$291,492$967,065
75$1,442,741$410,642$230,325$976,924
76$1,516,734$357,597$164,874$986,982
77$1,595,969$299,647$94,925$997,323
78$1,680,909$236,481$20,256$1,008,041
79$1,772,061$167,767$0$1,019,249
80$1,869,980$93,157$0$1,039,954
81$1,975,278$12,282$0$1,065,236
82$2,088,625$0$0$1,092,274
83$2,210,758$0$0$1,151,946
84$2,342,484$0$0$1,221,758
85$2,484,693$0$0$1,297,189
86$2,638,360$0$0$1,378,765
87$2,804,558$0$0$1,467,063
88$2,984,467$0$0$1,562,718
89$3,179,382$0$0$1,666,431
90$3,390,730$0$0$1,778,967
91$3,620,077$0$0$1,901,174
92$3,869,148$0$0$2,033,978
93$4,139,838$0$0$2,178,404
94$4,434,234$0$0$2,335,576
95$4,754,630$0$0$2,506,731
96$5,103,552$0$0$2,693,230
97$5,483,779$0$0$2,896,574
98$5,898,368$0$0$3,118,410
99$6,350,685$0$0$3,360,555
100$6,844,435$0$0$3,625,006