Can I retire at age 62 with 748,000?

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 $748,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$61,769$61,219$60,682$60,158$59,647$58,134
2 years$30,579$30,009$29,457$28,922$28,403$26,889
3 years$20,183$19,611$19,061$18,531$18,020$16,552
4 years$14,987$14,416$13,871$13,350$12,852$11,441
5 years$11,869$11,303$10,765$10,254$9,770$8,420
6 years$9,792$9,229$8,700$8,200$7,731$6,443
7 years$8,309$7,751$7,229$6,742$6,287$5,062
8 years$7,197$6,644$6,131$5,656$5,216$4,053
9 years$6,332$5,785$5,281$4,817$4,392$3,290
10 years$5,641$5,099$4,604$4,153$3,743$2,700
11 years$5,076$4,539$4,053$3,614$3,219$2,234
12 years$4,605$4,074$3,597$3,170$2,789$1,861
13 years$4,208$3,682$3,214$2,799$2,432$1,559
14 years$3,867$3,347$2,888$2,484$2,132$1,311
15 years$3,572$3,057$2,607$2,216$1,877$1,107
16 years$3,314$2,805$2,364$1,984$1,659$937
17 years$3,087$2,583$2,151$1,782$1,471$796
18 years$2,885$2,387$1,963$1,606$1,308$677
19 years$2,704$2,212$1,797$1,451$1,166$577
20 years$2,542$2,056$1,650$1,315$1,041$492
21 years$2,396$1,915$1,517$1,193$932$420
22 years$2,263$1,788$1,398$1,085$835$359
23 years$2,141$1,672$1,291$988$750$308
24 years$2,030$1,566$1,194$901$674$264
25 years$1,928$1,470$1,106$823$606$226
26 years$1,834$1,382$1,026$752$546$194
27 years$1,748$1,300$953$689$493$166
28 years$1,667$1,225$886$631$444$143
29 years$1,592$1,156$824$579$401$123
30 years$1,523$1,092$768$531$363$105
31 years$1,458$1,032$716$488$328$91
32 years$1,397$976$668$448$297$78
33 years$1,340$925$623$412$268$67
34 years$1,286$876$582$379$243$57
35 years$1,236$831$545$349$220$49
36 years$1,188$789$509$322$199$43
37 years$1,143$749$477$296$181$37
38 years$1,101$712$447$273$164$31
39 years$1,061$677$418$252$149$27
40 years$1,023$644$392$232$135$23
41 years$987$613$368$214$122$20
42 years$952$584$345$198$111$17
43 years$920$556$324$183$101$15
44 years$889$530$304$169$91$13
45 years$859$506$285$156$83$11
46 years$831$483$268$144$75$9
47 years$804$460$252$133$68$8
48 years$778$440$237$123$62$7
49 years$754$420$222$113$56$6
50 years$730$401$209$105$51$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $748,000, adding $6,464 every year, while hoping to spend $38,752 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: 73/11/16 Blend
61$748,000$748,000$748,000$748,000
62$830,964$791,320$779,726$888,155
63$874,490$788,862$764,615$924,469
64$921,157$784,986$747,699$958,877
65$971,245$779,580$728,876$995,549
66$1,025,060$772,527$708,041$1,034,699
67$1,082,938$763,703$685,083$1,076,567
68$1,145,250$752,977$659,885$1,121,415
69$1,212,401$740,208$632,327$1,169,534
70$1,284,836$725,249$602,280$1,221,244
71$1,363,047$707,943$569,614$1,276,900
72$1,447,570$688,125$534,188$1,336,893
73$1,538,998$665,619$495,859$1,401,654
74$1,637,980$640,239$454,475$1,471,661
75$1,745,232$611,788$409,878$1,547,438
76$1,861,539$580,059$361,902$1,629,569
77$1,987,765$544,831$310,375$1,718,693
78$2,124,862$505,872$255,117$1,815,520
79$2,273,874$462,937$195,940$1,920,830
80$2,435,952$415,763$132,647$2,035,488
81$2,612,362$364,078$65,033$2,160,446
82$2,804,496$307,591$0$2,296,754
83$3,013,886$245,994$0$2,446,791
84$3,242,219$178,965$0$2,622,547
85$3,491,350$106,159$0$2,814,363
86$3,763,324$27,217$0$3,023,840
87$4,060,388$0$0$3,252,742
88$4,385,018$0$0$3,510,065
89$4,739,941$0$0$3,795,035
90$5,128,157$0$0$4,106,770
91$5,552,970$0$0$4,447,929
92$6,018,019$0$0$4,821,437
93$6,527,311$0$0$5,230,517
94$7,085,257$0$0$5,678,719
95$7,696,716$0$0$6,169,949
96$8,367,041$0$0$6,708,513
97$9,102,124$0$0$7,299,151
98$9,908,457$0$0$7,947,085
99$10,793,191$0$0$8,658,066
100$11,764,201$0$0$9,438,430