Can I retire at age 62 with 745,000?

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 $745,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$61,521$60,973$60,439$59,917$59,407$57,028
2 years$30,456$29,889$29,339$28,806$28,289$25,922
3 years$20,102$19,533$18,984$18,456$17,948$15,667
4 years$14,927$14,359$13,816$13,297$12,801$10,624
5 years$11,822$11,257$10,722$10,213$9,731$7,663
6 years$9,753$9,192$8,665$8,168$7,700$5,743
7 years$8,275$7,720$7,200$6,715$6,262$4,415
8 years$7,168$6,617$6,106$5,633$5,195$3,456
9 years$6,307$5,762$5,260$4,798$4,375$2,742
10 years$5,619$5,079$4,585$4,136$3,728$2,197
11 years$5,056$4,521$4,037$3,600$3,206$1,774
12 years$4,587$4,058$3,583$3,157$2,778$1,441
13 years$4,191$3,667$3,201$2,787$2,423$1,176
14 years$3,851$3,333$2,876$2,474$2,124$963
15 years$3,558$3,045$2,597$2,207$1,870$792
16 years$3,301$2,794$2,354$1,976$1,653$652
17 years$3,074$2,573$2,142$1,775$1,465$538
18 years$2,873$2,378$1,956$1,600$1,303$445
19 years$2,694$2,203$1,790$1,446$1,161$369
20 years$2,532$2,048$1,643$1,309$1,037$305
21 years$2,386$1,907$1,511$1,188$928$253
22 years$2,254$1,780$1,393$1,080$832$210
23 years$2,133$1,665$1,286$984$747$175
24 years$2,022$1,560$1,189$897$671$145
25 years$1,921$1,464$1,102$820$604$121
26 years$1,827$1,376$1,022$749$544$101
27 years$1,741$1,295$949$686$491$84
28 years$1,660$1,220$882$628$443$70
29 years$1,586$1,151$821$576$400$58
30 years$1,516$1,087$764$529$361$48
31 years$1,452$1,028$713$486$327$40
32 years$1,391$972$665$446$295$33
33 years$1,334$921$621$411$267$28
34 years$1,281$873$580$378$242$23
35 years$1,231$828$542$348$219$19
36 years$1,183$786$507$320$199$16
37 years$1,139$746$475$295$180$13
38 years$1,096$709$445$272$163$11
39 years$1,056$674$417$251$148$9
40 years$1,019$642$391$231$134$8
41 years$983$611$366$213$122$6
42 years$948$582$343$197$110$5
43 years$916$554$322$182$100$4
44 years$885$528$303$168$91$4
45 years$856$504$284$155$83$3
46 years$828$481$267$143$75$3
47 years$801$459$251$132$68$2
48 years$775$438$236$122$62$2
49 years$751$418$221$113$56$2
50 years$727$399$208$104$51$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $745,000, adding $3,446 every year, while hoping to spend $41,103 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: 63/26/11 Blend
61$745,000$745,000$745,000$745,000
62$824,545$785,060$773,512$874,215
63$864,915$779,794$755,691$902,596
64$908,025$772,893$735,896$928,505
65$954,112$764,233$714,017$955,766
66$1,003,434$753,683$689,939$984,512
67$1,056,274$741,104$663,542$1,014,887
68$1,112,945$726,349$634,702$1,047,054
69$1,173,788$709,262$603,287$1,081,193
70$1,239,177$689,679$569,160$1,117,503
71$1,309,525$667,424$532,178$1,156,207
72$1,385,282$642,314$492,191$1,197,550
73$1,466,945$614,152$449,044$1,241,806
74$1,555,060$582,731$402,573$1,289,280
75$1,650,224$547,834$352,608$1,340,307
76$1,753,097$509,227$298,970$1,395,261
77$1,864,400$466,667$241,473$1,454,557
78$1,984,931$419,895$179,924$1,518,654
79$2,115,561$368,638$114,119$1,588,061
80$2,257,254$312,606$43,847$1,663,344
81$2,411,064$251,495$0$1,745,128
82$2,578,156$184,982$0$1,837,761
83$2,759,809$112,726$0$1,944,086
84$2,957,428$34,368$0$2,059,829
85$3,172,561$0$0$2,185,962
86$3,406,914$0$0$2,337,997
87$3,662,358$0$0$2,514,482
88$3,940,958$0$0$2,707,016
89$4,244,984$0$0$2,917,175
90$4,576,936$0$0$3,146,692
91$4,939,563$0$0$3,397,477
92$5,335,896$0$0$3,671,631
93$5,769,268$0$0$3,971,469
94$6,243,351$0$0$4,299,538
95$6,762,188$0$0$4,658,644
96$7,330,229$0$0$5,051,876
97$7,952,377$0$0$5,482,636
98$8,634,030$0$0$5,954,672
99$9,381,133$0$0$6,472,108
100$10,200,232$0$0$7,039,490