Can I retire at age 62 with 739,000?

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 $739,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$61,026$60,482$59,952$59,434$58,929$58,582
2 years$30,211$29,648$29,103$28,574$28,061$27,711
3 years$19,941$19,375$18,832$18,308$17,803$17,461
4 years$14,806$14,243$13,705$13,190$12,697$12,366
5 years$11,727$11,167$10,635$10,131$9,652$9,332
6 years$9,674$9,118$8,595$8,102$7,638$7,329
7 years$8,209$7,658$7,142$6,661$6,211$5,915
8 years$7,110$6,564$6,057$5,588$5,153$4,868
9 years$6,256$5,715$5,217$4,759$4,340$4,067
10 years$5,573$5,038$4,548$4,103$3,698$3,436
11 years$5,015$4,485$4,004$3,571$3,180$2,930
12 years$4,550$4,025$3,554$3,132$2,756$2,518
13 years$4,157$3,638$3,175$2,765$2,403$2,176
14 years$3,820$3,307$2,853$2,454$2,106$1,890
15 years$3,529$3,021$2,576$2,189$1,855$1,649
16 years$3,274$2,771$2,335$1,960$1,639$1,444
17 years$3,049$2,552$2,125$1,761$1,453$1,268
18 years$2,850$2,358$1,940$1,587$1,292$1,117
19 years$2,672$2,186$1,776$1,434$1,152$985
20 years$2,512$2,031$1,630$1,299$1,029$871
21 years$2,367$1,892$1,499$1,179$921$772
22 years$2,235$1,766$1,382$1,072$825$685
23 years$2,116$1,652$1,276$976$741$608
24 years$2,006$1,548$1,180$890$666$541
25 years$1,905$1,452$1,093$813$599$482
26 years$1,812$1,365$1,013$743$540$429
27 years$1,727$1,285$941$680$487$383
28 years$1,647$1,210$875$623$439$342
29 years$1,573$1,142$814$572$396$305
30 years$1,504$1,078$758$525$358$273
31 years$1,440$1,019$707$482$324$244
32 years$1,380$965$660$443$293$218
33 years$1,323$913$616$407$265$195
34 years$1,270$866$575$375$240$174
35 years$1,221$821$538$345$217$156
36 years$1,174$779$503$318$197$140
37 years$1,129$740$471$293$179$125
38 years$1,088$704$441$270$162$112
39 years$1,048$669$413$249$147$101
40 years$1,010$636$387$229$133$90
41 years$975$606$363$212$121$81
42 years$941$577$341$195$110$72
43 years$909$550$320$180$99$65
44 years$878$524$300$167$90$58
45 years$849$500$282$154$82$52
46 years$821$477$265$142$74$47
47 years$794$455$249$131$68$42
48 years$769$434$234$121$61$38
49 years$745$415$220$112$56$34
50 years$722$396$206$104$51$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $739,000, adding $4,419 every year, while hoping to spend $24,884 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: 70/24/6 Blend
61$739,000$739,000$739,000$739,000
62$818,936$779,769$768,315$875,297
63$875,991$791,502$767,577$924,861
64$938,032$802,975$765,980$975,579
65$1,005,541$814,150$763,470$1,030,386
66$1,079,048$824,985$759,988$1,089,677
67$1,159,137$835,436$755,474$1,153,888
68$1,246,452$845,455$749,865$1,223,497
69$1,341,698$854,991$743,094$1,299,034
70$1,445,656$863,989$735,092$1,381,081
71$1,559,180$872,392$725,785$1,470,281
72$1,683,215$880,139$715,098$1,567,340
73$1,818,800$887,162$702,950$1,673,039
74$1,967,076$893,392$689,258$1,788,236
75$2,129,304$898,754$673,934$1,913,878
76$2,306,869$903,169$656,887$2,051,009
77$2,501,298$906,552$638,021$2,200,779
78$2,714,270$908,813$617,235$2,364,457
79$2,947,638$909,857$594,424$2,543,438
80$3,203,440$909,583$569,480$2,739,264
81$3,483,920$907,882$542,287$2,953,632
82$3,791,552$904,640$512,725$3,188,414
83$4,129,059$899,736$480,670$3,445,673
84$4,499,440$893,041$445,990$3,727,681
85$4,906,001$884,418$408,549$4,036,946
86$5,352,382$873,722$368,203$4,376,230
87$5,842,590$860,800$324,804$4,748,577
88$6,381,045$845,490$278,196$5,157,346
89$6,972,611$827,619$228,215$5,606,236
90$7,622,649$807,003$174,691$6,099,325
91$8,337,064$783,451$117,448$6,641,109
92$9,122,361$756,757$56,300$7,236,545
93$9,985,709$726,706$0$7,891,095
94$10,935,004$693,067$0$8,611,352
95$11,978,946$655,598$0$9,407,266
96$13,127,119$614,043$0$10,282,558
97$14,390,086$568,132$0$11,245,305
98$15,779,480$517,576$0$12,304,412
99$17,308,124$462,074$0$13,469,692
100$18,990,142$401,305$0$14,751,960