Can I retire at age 62 with 744,000?

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 $744,000?

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 years$61,439$60,892$60,358$59,836$59,328$58,106
2 years$30,415$29,849$29,300$28,768$28,251$27,026
3 years$20,075$19,507$18,959$18,432$17,924$16,733
4 years$14,907$14,339$13,797$13,279$12,783$11,637
5 years$11,806$11,242$10,707$10,200$9,718$8,618
6 years$9,740$9,180$8,653$8,157$7,689$6,638
7 years$8,264$7,709$7,191$6,706$6,253$5,250
8 years$7,158$6,608$6,098$5,626$5,188$4,233
9 years$6,298$5,754$5,252$4,792$4,369$3,462
10 years$5,611$5,072$4,579$4,130$3,723$2,862
11 years$5,049$4,515$4,031$3,595$3,202$2,386
12 years$4,581$4,052$3,578$3,153$2,774$2,004
13 years$4,185$3,662$3,197$2,784$2,419$1,691
14 years$3,846$3,329$2,872$2,471$2,121$1,435
15 years$3,553$3,041$2,593$2,204$1,867$1,221
16 years$3,296$2,790$2,351$1,973$1,650$1,043
17 years$3,070$2,570$2,139$1,773$1,463$893
18 years$2,869$2,374$1,953$1,598$1,301$766
19 years$2,690$2,201$1,788$1,444$1,160$659
20 years$2,529$2,045$1,641$1,308$1,036$567
21 years$2,383$1,905$1,509$1,187$927$489
22 years$2,251$1,778$1,391$1,079$831$422
23 years$2,130$1,663$1,284$983$746$365
24 years$2,020$1,558$1,188$896$670$316
25 years$1,918$1,462$1,100$818$603$273
26 years$1,825$1,374$1,020$748$543$236
27 years$1,738$1,293$947$685$490$205
28 years$1,658$1,219$881$628$442$178
29 years$1,584$1,150$820$576$399$154
30 years$1,514$1,086$763$528$361$134
31 years$1,450$1,026$712$485$326$116
32 years$1,389$971$664$446$295$101
33 years$1,332$920$620$410$267$87
34 years$1,279$872$579$377$242$76
35 years$1,229$827$542$347$219$66
36 years$1,182$785$507$320$198$57
37 years$1,137$745$474$295$180$50
38 years$1,095$708$444$272$163$43
39 years$1,055$674$416$250$148$38
40 years$1,017$641$390$231$134$33
41 years$981$610$366$213$122$28
42 years$947$581$343$197$110$25
43 years$915$553$322$182$100$21
44 years$884$528$302$168$91$19
45 years$855$503$284$155$83$16
46 years$827$480$266$143$75$14
47 years$800$458$250$132$68$12
48 years$774$437$235$122$62$11
49 years$750$418$221$113$56$9
50 years$726$399$208$104$51$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $744,000, adding $3,540 every year, while hoping to spend $46,639 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: 86/8/6 Blend
61$744,000$744,000$744,000$744,000
62$823,540$784,108$772,576$893,853
63$857,917$772,905$748,833$929,010
64$894,238$759,591$722,732$960,842
65$932,651$744,012$694,145$994,318
66$973,319$726,006$662,937$1,029,570
67$1,016,420$705,403$628,967$1,066,742
68$1,062,147$682,020$592,090$1,105,996
69$1,110,714$655,666$552,153$1,147,506
70$1,162,351$626,138$508,994$1,191,466
71$1,217,313$593,221$462,448$1,238,087
72$1,275,878$556,688$412,339$1,287,605
73$1,338,350$516,298$358,484$1,340,276
74$1,405,063$471,798$300,695$1,396,382
75$1,476,382$422,919$238,770$1,456,236
76$1,552,707$369,376$172,503$1,520,181
77$1,634,478$310,870$101,677$1,588,595
78$1,722,177$247,085$26,065$1,661,893
79$1,816,332$177,685$0$1,740,534
80$1,917,523$102,317$0$1,828,521
81$2,026,387$20,608$0$1,924,921
82$2,143,624$0$0$2,028,693
83$2,270,001$0$0$2,146,502
84$2,406,362$0$0$2,275,582
85$2,553,634$0$0$2,414,997
86$2,712,835$0$0$2,565,713
87$2,885,084$0$0$2,728,791
88$3,071,612$0$0$2,905,395
89$3,273,772$0$0$3,096,809
90$3,493,052$0$0$3,304,441
91$3,731,086$0$0$3,529,843
92$3,989,675$0$0$3,774,718
93$4,270,798$0$0$4,040,942
94$4,576,631$0$0$4,330,580
95$4,909,571$0$0$4,645,900
96$5,272,255$0$0$4,989,402
97$5,667,581$0$0$5,363,833
98$6,098,744$0$0$5,772,221
99$6,569,258$0$0$6,217,894
100$7,082,990$0$0$6,704,518