Can I retire at age 62 with 747,000?

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 $747,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$61,687$61,137$60,601$60,078$59,567$59,291
2 years$30,538$29,969$29,418$28,884$28,365$28,087
3 years$20,156$19,585$19,035$18,506$17,996$17,724
4 years$14,967$14,397$13,853$13,333$12,835$12,571
5 years$11,854$11,288$10,750$10,241$9,757$9,501
6 years$9,779$9,217$8,688$8,190$7,720$7,474
7 years$8,298$7,741$7,220$6,733$6,279$6,042
8 years$7,187$6,635$6,123$5,648$5,209$4,981
9 years$6,324$5,777$5,274$4,811$4,387$4,168
10 years$5,634$5,092$4,598$4,147$3,738$3,529
11 years$5,069$4,533$4,048$3,609$3,214$3,015
12 years$4,599$4,069$3,592$3,166$2,786$2,595
13 years$4,202$3,677$3,209$2,795$2,429$2,247
14 years$3,862$3,342$2,884$2,481$2,129$1,956
15 years$3,567$3,053$2,604$2,213$1,875$1,710
16 years$3,309$2,801$2,361$1,981$1,657$1,500
17 years$3,082$2,580$2,148$1,780$1,469$1,320
18 years$2,881$2,384$1,961$1,604$1,306$1,165
19 years$2,701$2,209$1,795$1,450$1,164$1,030
20 years$2,539$2,053$1,647$1,313$1,040$913
21 years$2,392$1,912$1,515$1,191$931$811
22 years$2,260$1,785$1,397$1,083$834$721
23 years$2,139$1,670$1,289$987$749$642
24 years$2,028$1,564$1,193$900$673$572
25 years$1,926$1,468$1,105$822$606$510
26 years$1,832$1,380$1,024$751$546$456
27 years$1,745$1,298$951$688$492$407
28 years$1,665$1,224$884$630$444$365
29 years$1,590$1,154$823$578$401$326
30 years$1,521$1,090$767$530$362$292
31 years$1,456$1,030$715$487$327$262
32 years$1,395$975$667$448$296$235
33 years$1,338$923$623$412$268$211
34 years$1,284$875$582$379$243$189
35 years$1,234$830$544$349$220$170
36 years$1,186$788$509$321$199$152
37 years$1,142$748$476$296$180$137
38 years$1,099$711$446$273$164$123
39 years$1,059$676$418$251$148$110
40 years$1,021$643$392$232$135$99
41 years$985$612$367$214$122$89
42 years$951$583$344$197$111$80
43 years$919$556$323$182$101$72
44 years$888$530$303$168$91$65
45 years$858$505$285$155$83$58
46 years$830$482$268$144$75$52
47 years$803$460$251$133$68$47
48 years$777$439$236$123$62$42
49 years$753$419$222$113$56$38
50 years$729$400$209$105$51$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $747,000, adding $4,088 every year, while hoping to spend $20,420 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: 60/33/7 Blend
61$747,000$747,000$747,000$747,000
62$827,411$787,820$776,241$875,625
63$890,080$804,696$780,519$925,281
64$958,457$821,715$784,255$976,708
65$1,033,103$838,862$787,410$1,032,284
66$1,114,634$856,121$789,943$1,092,409
67$1,203,730$873,475$791,810$1,157,521
68$1,301,139$890,904$792,965$1,228,107
69$1,407,685$908,388$793,359$1,304,700
70$1,524,274$925,904$792,941$1,387,888
71$1,651,905$943,428$791,660$1,478,319
72$1,791,677$960,934$789,458$1,576,707
73$1,944,802$978,393$786,278$1,683,838
74$2,112,611$995,774$782,058$1,800,580
75$2,296,575$1,013,044$776,734$1,927,886
76$2,498,310$1,030,168$770,239$2,066,810
77$2,719,597$1,047,106$762,502$2,218,511
78$2,962,399$1,063,817$753,450$2,384,266
79$3,228,878$1,080,258$743,004$2,565,484
80$3,521,413$1,096,380$731,084$2,763,717
81$3,842,627$1,112,133$717,605$2,980,674
82$4,195,409$1,127,461$702,479$3,218,241
83$4,582,941$1,142,307$685,612$3,478,494
84$5,008,729$1,156,608$666,908$3,763,724
85$5,476,634$1,170,297$646,264$4,076,453
86$5,990,912$1,183,302$623,575$4,419,461
87$6,556,249$1,195,548$598,729$4,795,815
88$7,177,810$1,206,954$571,610$5,208,893
89$7,861,284$1,217,432$542,097$5,662,416
90$8,612,939$1,226,891$510,061$6,160,490
91$9,439,683$1,235,232$475,372$6,707,637
92$10,349,123$1,242,351$437,890$7,308,841
93$11,349,644$1,248,136$397,469$7,969,598
94$12,450,482$1,252,470$353,959$8,695,963
95$13,661,816$1,255,226$307,202$9,494,611
96$14,994,860$1,256,270$257,031$10,372,899
97$16,461,970$1,255,461$203,276$11,338,935
98$18,076,760$1,252,649$145,755$12,401,656
99$19,854,233$1,247,671$84,281$13,570,912
100$21,810,917$1,240,360$18,657$14,857,560