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%14.4%
1 years$61,521$60,973$60,439$59,917$59,407$58,327
2 years$30,456$29,889$29,339$28,806$28,289$27,205
3 years$20,102$19,533$18,984$18,456$17,948$16,893
4 years$14,927$14,359$13,816$13,297$12,801$11,783
5 years$11,822$11,257$10,722$10,213$9,731$8,754
6 years$9,753$9,192$8,665$8,168$7,700$6,765
7 years$8,275$7,720$7,200$6,715$6,262$5,369
8 years$7,168$6,617$6,106$5,633$5,195$4,344
9 years$6,307$5,762$5,260$4,798$4,375$3,565
10 years$5,619$5,079$4,585$4,136$3,728$2,958
11 years$5,056$4,521$4,037$3,600$3,206$2,476
12 years$4,587$4,058$3,583$3,157$2,778$2,087
13 years$4,191$3,667$3,201$2,787$2,423$1,769
14 years$3,851$3,333$2,876$2,474$2,124$1,506
15 years$3,558$3,045$2,597$2,207$1,870$1,288
16 years$3,301$2,794$2,354$1,976$1,653$1,104
17 years$3,074$2,573$2,142$1,775$1,465$950
18 years$2,873$2,378$1,956$1,600$1,303$818
19 years$2,694$2,203$1,790$1,446$1,161$707
20 years$2,532$2,048$1,643$1,309$1,037$611
21 years$2,386$1,907$1,511$1,188$928$529
22 years$2,254$1,780$1,393$1,080$832$459
23 years$2,133$1,665$1,286$984$747$399
24 years$2,022$1,560$1,189$897$671$346
25 years$1,921$1,464$1,102$820$604$301
26 years$1,827$1,376$1,022$749$544$262
27 years$1,741$1,295$949$686$491$228
28 years$1,660$1,220$882$628$443$199
29 years$1,586$1,151$821$576$400$173
30 years$1,516$1,087$764$529$361$151
31 years$1,452$1,028$713$486$327$132
32 years$1,391$972$665$446$295$115
33 years$1,334$921$621$411$267$100
34 years$1,281$873$580$378$242$88
35 years$1,231$828$542$348$219$76
36 years$1,183$786$507$320$199$67
37 years$1,139$746$475$295$180$58
38 years$1,096$709$445$272$163$51
39 years$1,056$674$417$251$148$44
40 years$1,019$642$391$231$134$39
41 years$983$611$366$213$122$34
42 years$948$582$343$197$110$30
43 years$916$554$322$182$100$26
44 years$885$528$303$168$91$23
45 years$856$504$284$155$83$20
46 years$828$481$267$143$75$17
47 years$801$459$251$132$68$15
48 years$775$438$236$122$62$13
49 years$751$418$221$113$56$12
50 years$727$399$208$104$51$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $745,000, adding $4,371 every year, while hoping to spend $53,811 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: 61/16/23 Blend
61$745,000$745,000$745,000$745,000
62$825,499$786,014$774,466$870,585
63$852,445$767,274$743,156$882,914
64$880,336$745,812$708,994$890,081
65$909,212$721,439$671,827$896,711
66$939,115$693,952$631,496$902,761
67$970,088$663,139$587,834$908,185
68$1,002,179$628,774$540,669$912,937
69$1,035,436$590,620$489,817$916,966
70$1,069,914$548,424$435,089$920,220
71$1,105,668$501,919$376,287$922,645
72$1,142,757$450,824$313,203$924,186
73$1,181,245$394,841$245,622$924,784
74$1,221,199$333,656$173,318$924,377
75$1,262,693$266,936$96,055$922,902
76$1,305,801$194,330$13,587$920,295
77$1,350,608$115,467$0$916,487
78$1,397,201$29,955$0$929,672
79$1,445,674$0$0$946,260
80$1,496,130$0$0$973,933
81$1,548,676$0$0$1,008,254
82$1,603,430$0$0$1,044,027
83$1,660,518$0$0$1,081,337
84$1,720,076$0$0$1,120,274
85$1,782,249$0$0$1,160,934
86$1,847,195$0$0$1,203,423
87$1,915,086$0$0$1,247,854
88$1,986,105$0$0$1,294,350
89$2,060,452$0$0$1,343,044
90$2,138,342$0$0$1,394,079
91$2,220,011$0$0$1,447,613
92$2,305,713$0$0$1,503,814
93$2,395,722$0$0$1,562,867
94$2,490,340$0$0$1,624,972
95$2,589,891$0$0$1,690,347
96$2,694,731$0$0$1,759,227
97$2,805,246$0$0$1,831,873
98$2,921,857$0$0$1,908,564
99$3,045,022$0$0$1,989,607
100$3,175,241$0$0$2,075,338