Can I retire at age 62 with 738,000?

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 $738,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$60,943$60,400$59,871$59,354$58,849$57,614
2 years$30,170$29,608$29,064$28,536$28,023$26,785
3 years$19,914$19,349$18,806$18,283$17,779$16,576
4 years$14,786$14,224$13,686$13,172$12,680$11,521
5 years$11,711$11,152$10,621$10,117$9,639$8,528
6 years$9,661$9,106$8,583$8,091$7,627$6,565
7 years$8,198$7,647$7,133$6,652$6,203$5,190
8 years$7,100$6,555$6,049$5,580$5,146$4,182
9 years$6,248$5,707$5,210$4,753$4,334$3,418
10 years$5,566$5,031$4,542$4,097$3,693$2,824
11 years$5,008$4,479$3,999$3,566$3,176$2,353
12 years$4,544$4,020$3,549$3,128$2,752$1,974
13 years$4,151$3,633$3,171$2,761$2,400$1,666
14 years$3,815$3,302$2,849$2,451$2,104$1,412
15 years$3,524$3,016$2,572$2,186$1,852$1,201
16 years$3,270$2,768$2,332$1,957$1,637$1,025
17 years$3,045$2,549$2,122$1,759$1,451$877
18 years$2,846$2,355$1,937$1,585$1,291$752
19 years$2,668$2,183$1,773$1,432$1,150$646
20 years$2,508$2,028$1,628$1,297$1,027$556
21 years$2,364$1,889$1,497$1,177$919$479
22 years$2,232$1,764$1,380$1,070$824$413
23 years$2,113$1,649$1,274$975$740$357
24 years$2,003$1,545$1,178$889$665$308
25 years$1,903$1,450$1,091$812$598$267
26 years$1,810$1,363$1,012$742$539$231
27 years$1,724$1,283$940$679$486$200
28 years$1,645$1,209$874$623$438$173
29 years$1,571$1,140$813$571$396$150
30 years$1,502$1,077$757$524$358$130
31 years$1,438$1,018$706$481$323$113
32 years$1,378$963$659$442$293$98
33 years$1,322$912$615$407$265$85
34 years$1,269$865$575$374$240$74
35 years$1,219$820$537$344$217$64
36 years$1,172$778$503$317$197$55
37 years$1,128$739$470$292$178$48
38 years$1,086$703$441$269$162$42
39 years$1,046$668$413$248$147$36
40 years$1,009$636$387$229$133$31
41 years$973$605$363$211$121$27
42 years$940$576$340$195$109$24
43 years$907$549$319$180$99$21
44 years$877$523$300$166$90$18
45 years$848$499$281$154$82$16
46 years$820$476$264$142$74$14
47 years$793$454$248$131$67$12
48 years$768$434$233$121$61$10
49 years$744$414$219$112$56$9
50 years$721$396$206$103$51$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $738,000, adding $2,296 every year, while hoping to spend $51,209 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: 36/45/19 Blend
61$738,000$738,000$738,000$738,000
62$815,644$776,530$765,091$840,226
63$844,354$760,094$736,236$841,895
64$874,276$741,137$704,698$838,735
65$905,479$719,480$670,332$834,258
66$938,039$694,935$632,990$828,375
67$972,037$667,305$592,512$820,994
68$1,007,559$636,377$548,736$812,018
69$1,044,701$601,930$501,489$801,344
70$1,083,563$563,728$450,592$788,869
71$1,124,257$521,521$395,857$774,480
72$1,166,902$475,046$337,089$758,063
73$1,211,628$424,026$274,084$739,498
74$1,258,576$368,164$206,627$718,661
75$1,307,898$307,152$134,497$695,420
76$1,359,761$240,660$57,460$669,642
77$1,414,346$168,341$0$641,188
78$1,471,848$89,829$0$614,930
79$1,532,483$4,737$0$598,459
80$1,596,484$0$0$580,012
81$1,664,105$0$0$602,739
82$1,735,623$0$0$629,302
83$1,811,343$0$0$657,475
84$1,891,594$0$0$687,387
85$1,976,740$0$0$719,180
86$2,067,174$0$0$753,009
87$2,163,330$0$0$789,043
88$2,265,682$0$0$827,468
89$2,374,746$0$0$868,488
90$2,491,091$0$0$912,325
91$2,615,338$0$0$959,224
92$2,748,168$0$0$1,009,453
93$2,890,328$0$0$1,063,306
94$3,042,636$0$0$1,121,104
95$3,205,990$0$0$1,183,202
96$3,381,377$0$0$1,249,988
97$3,569,877$0$0$1,321,888
98$3,772,677$0$0$1,399,371
99$3,991,081$0$0$1,482,950
100$4,226,520$0$0$1,573,191