Can I retire at age 62 with 743,000?

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 $743,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$61,356$60,810$60,277$59,756$59,248$58,123
2 years$30,374$29,809$29,260$28,729$28,213$27,084
3 years$20,048$19,480$18,933$18,407$17,900$16,802
4 years$14,886$14,320$13,779$13,261$12,766$11,708
5 years$11,790$11,227$10,693$10,186$9,705$8,689
6 years$9,727$9,168$8,641$8,146$7,679$6,707
7 years$8,253$7,699$7,181$6,697$6,245$5,317
8 years$7,149$6,600$6,090$5,618$5,181$4,297
9 years$6,290$5,746$5,245$4,785$4,363$3,522
10 years$5,603$5,065$4,573$4,125$3,718$2,919
11 years$5,042$4,509$4,026$3,590$3,197$2,440
12 years$4,575$4,047$3,573$3,149$2,771$2,054
13 years$4,179$3,657$3,192$2,780$2,416$1,739
14 years$3,841$3,324$2,868$2,468$2,118$1,479
15 years$3,548$3,037$2,590$2,201$1,865$1,262
16 years$3,292$2,786$2,348$1,971$1,648$1,081
17 years$3,066$2,566$2,136$1,771$1,461$928
18 years$2,865$2,371$1,950$1,596$1,299$799
19 years$2,686$2,198$1,785$1,442$1,158$689
20 years$2,525$2,042$1,639$1,306$1,034$595
21 years$2,380$1,902$1,507$1,185$926$515
22 years$2,248$1,776$1,389$1,078$830$446
23 years$2,127$1,661$1,283$981$745$386
24 years$2,017$1,556$1,186$895$669$335
25 years$1,916$1,460$1,099$817$602$291
26 years$1,822$1,372$1,019$747$543$253
27 years$1,736$1,292$946$684$489$220
28 years$1,656$1,217$880$627$441$191
29 years$1,582$1,148$819$575$399$166
30 years$1,512$1,084$762$527$360$145
31 years$1,448$1,025$711$484$326$126
32 years$1,387$970$663$445$295$110
33 years$1,331$918$619$409$267$96
34 years$1,277$870$579$377$241$83
35 years$1,227$826$541$347$219$73
36 years$1,180$784$506$319$198$63
37 years$1,136$744$474$294$180$55
38 years$1,093$707$444$271$163$48
39 years$1,054$673$416$250$148$42
40 years$1,016$640$389$231$134$37
41 years$980$609$365$213$121$32
42 years$946$580$343$196$110$28
43 years$914$553$321$181$100$24
44 years$883$527$302$167$91$21
45 years$853$502$283$155$82$18
46 years$825$479$266$143$75$16
47 years$799$457$250$132$68$14
48 years$773$437$235$122$62$12
49 years$749$417$221$113$56$11
50 years$725$398$208$104$51$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $743,000, adding $3,784 every year, while hoping to spend $51,189 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: 52/23/25 Blend
61$743,000$743,000$743,000$743,000
62$822,689$783,310$771,794$859,552
63$852,139$767,228$743,184$869,398
64$882,877$748,642$711,900$874,569
65$914,980$727,375$677,799$879,152
66$948,533$703,241$640,730$883,111
67$983,624$676,041$600,536$886,410
68$1,020,354$645,567$557,053$889,011
69$1,058,826$611,595$510,111$890,877
70$1,099,155$573,893$459,529$891,972
71$1,141,467$532,212$405,121$892,260
72$1,185,896$486,289$346,691$891,702
73$1,232,588$435,848$284,037$890,266
74$1,281,703$380,596$216,943$887,915
75$1,333,416$320,224$145,189$884,618
76$1,387,913$254,404$68,542$880,344
77$1,445,402$182,792$0$875,066
78$1,506,106$105,022$0$872,293
79$1,570,270$20,709$0$888,212
80$1,638,161$0$0$904,575
81$1,710,070$0$0$939,299
82$1,786,316$0$0$981,711
83$1,867,245$0$0$1,026,766
84$1,953,240$0$0$1,074,682
85$2,044,715$0$0$1,125,696
86$2,142,127$0$0$1,180,068
87$2,245,973$0$0$1,238,081
88$2,356,800$0$0$1,300,047
89$2,475,206$0$0$1,366,308
90$2,601,847$0$0$1,437,238
91$2,737,441$0$0$1,513,247
92$2,882,778$0$0$1,594,785
93$3,038,722$0$0$1,682,346
94$3,206,222$0$0$1,776,473
95$3,386,320$0$0$1,877,761
96$3,580,160$0$0$1,986,862
97$3,788,996$0$0$2,104,496
98$4,014,209$0$0$2,231,449
99$4,257,315$0$0$2,368,589
100$4,519,977$0$0$2,516,868