Can I retire at age 62 with 746,000?

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 $746,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$61,604$61,055$60,520$59,997$59,487$58,841
2 years$30,497$29,929$29,379$28,845$28,327$27,677
3 years$20,129$19,559$19,010$18,481$17,972$17,338
4 years$14,947$14,378$13,834$13,315$12,818$12,204
5 years$11,838$11,272$10,736$10,227$9,744$9,152
6 years$9,766$9,205$8,676$8,179$7,710$7,142
7 years$8,286$7,730$7,210$6,724$6,270$5,725
8 years$7,177$6,626$6,115$5,641$5,202$4,680
9 years$6,315$5,769$5,267$4,805$4,381$3,882
10 years$5,626$5,085$4,592$4,142$3,733$3,257
11 years$5,062$4,527$4,042$3,604$3,210$2,757
12 years$4,593$4,063$3,587$3,162$2,782$2,351
13 years$4,196$3,672$3,205$2,791$2,426$2,016
14 years$3,857$3,338$2,880$2,478$2,126$1,738
15 years$3,562$3,049$2,600$2,210$1,872$1,504
16 years$3,305$2,798$2,357$1,979$1,655$1,306
17 years$3,078$2,576$2,145$1,778$1,467$1,137
18 years$2,877$2,381$1,958$1,602$1,305$993
19 years$2,697$2,206$1,793$1,448$1,163$869
20 years$2,535$2,050$1,645$1,311$1,039$762
21 years$2,389$1,910$1,513$1,190$929$669
22 years$2,257$1,783$1,395$1,082$833$588
23 years$2,136$1,667$1,288$985$748$518
24 years$2,025$1,562$1,191$899$672$456
25 years$1,923$1,466$1,103$821$605$402
26 years$1,830$1,378$1,023$750$545$355
27 years$1,743$1,297$950$687$491$314
28 years$1,663$1,222$883$629$443$277
29 years$1,588$1,153$822$577$400$245
30 years$1,519$1,089$766$530$362$217
31 years$1,454$1,029$714$486$327$192
32 years$1,393$974$666$447$296$170
33 years$1,336$922$622$411$268$151
34 years$1,283$874$581$378$242$134
35 years$1,232$829$543$348$219$118
36 years$1,185$787$508$321$199$105
37 years$1,140$747$476$295$180$93
38 years$1,098$710$445$272$163$82
39 years$1,058$675$417$251$148$73
40 years$1,020$643$391$232$134$65
41 years$984$612$367$214$122$58
42 years$950$582$344$197$111$51
43 years$917$555$323$182$100$45
44 years$886$529$303$168$91$40
45 years$857$504$284$155$83$36
46 years$829$481$267$143$75$32
47 years$802$459$251$132$68$28
48 years$776$438$236$122$62$25
49 years$752$419$222$113$56$22
50 years$728$400$208$105$51$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $746,000, adding $2,687 every year, while hoping to spend $46,599 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: 53/33/14 Blend
61$746,000$746,000$746,000$746,000
62$824,864$785,326$773,763$865,374
63$859,419$774,226$750,103$882,213
64$895,937$761,020$724,088$895,323
65$934,568$745,556$695,592$908,531
66$975,479$727,673$664,478$921,857
67$1,018,848$707,199$630,609$935,328
68$1,064,873$683,954$593,836$948,974
69$1,113,769$657,747$554,009$962,834
70$1,165,770$628,373$510,965$976,951
71$1,221,136$595,621$464,539$991,377
72$1,280,147$559,261$414,557$1,006,175
73$1,343,112$519,056$360,835$1,021,414
74$1,410,371$474,750$303,184$1,037,178
75$1,482,292$426,077$241,404$1,053,561
76$1,559,284$372,753$175,289$1,070,673
77$1,641,792$314,478$104,622$1,088,640
78$1,730,305$250,938$29,177$1,107,605
79$1,825,358$181,796$0$1,127,733
80$1,927,543$106,702$0$1,156,877
81$2,037,503$25,282$0$1,192,731
82$2,155,951$0$0$1,231,209
83$2,283,664$0$0$1,295,450
84$2,421,501$0$0$1,374,747
85$2,570,401$0$0$1,460,467
86$2,731,399$0$0$1,553,215
87$2,905,631$0$0$1,653,651
88$3,094,348$0$0$1,762,505
89$3,298,922$0$0$1,880,579
90$3,520,865$0$0$2,008,752
91$3,761,838$0$0$2,147,993
92$4,023,668$0$0$2,299,370
93$4,308,365$0$0$2,464,053
94$4,618,142$0$0$2,643,334
95$4,955,431$0$0$2,838,633
96$5,322,911$0$0$3,051,510
97$5,723,526$0$0$3,283,686
98$6,160,522$0$0$3,537,053
99$6,637,467$0$0$3,813,694
100$7,158,290$0$0$4,115,902