Can I retire at age 62 with 749,000?

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 $749,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$61,852$61,301$60,763$60,239$59,726$59,201
2 years$30,620$30,049$29,497$28,961$28,441$27,912
3 years$20,210$19,638$19,086$18,556$18,044$17,527
4 years$15,007$14,436$13,890$13,368$12,869$12,369
5 years$11,885$11,318$10,779$10,268$9,783$9,300
6 years$9,805$9,242$8,711$8,211$7,741$7,277
7 years$8,320$7,761$7,239$6,751$6,295$5,850
8 years$7,206$6,653$6,139$5,663$5,223$4,796
9 years$6,341$5,792$5,288$4,824$4,398$3,990
10 years$5,649$5,106$4,610$4,158$3,748$3,357
11 years$5,083$4,545$4,059$3,619$3,223$2,851
12 years$4,612$4,080$3,602$3,174$2,793$2,438
13 years$4,213$3,687$3,218$2,802$2,436$2,098
14 years$3,872$3,351$2,891$2,488$2,135$1,814
15 years$3,577$3,061$2,611$2,219$1,880$1,575
16 years$3,318$2,809$2,367$1,986$1,661$1,373
17 years$3,091$2,587$2,154$1,785$1,473$1,200
18 years$2,889$2,390$1,966$1,608$1,310$1,051
19 years$2,708$2,215$1,800$1,453$1,167$923
20 years$2,546$2,059$1,652$1,316$1,043$812
21 years$2,399$1,917$1,519$1,195$933$716
22 years$2,266$1,790$1,400$1,086$836$632
23 years$2,144$1,674$1,293$989$751$558
24 years$2,033$1,568$1,196$902$675$494
25 years$1,931$1,472$1,108$824$607$437
26 years$1,837$1,383$1,027$753$547$387
27 years$1,750$1,302$954$690$493$344
28 years$1,669$1,227$887$632$445$305
29 years$1,594$1,157$825$579$402$271
30 years$1,525$1,093$769$532$363$241
31 years$1,459$1,033$717$488$328$214
32 years$1,399$978$669$449$297$190
33 years$1,341$926$624$413$269$169
34 years$1,288$878$583$380$243$151
35 years$1,237$832$545$350$220$134
36 years$1,190$790$510$322$200$119
37 years$1,145$750$477$297$181$106
38 years$1,102$713$447$273$164$95
39 years$1,062$678$419$252$149$84
40 years$1,024$645$393$233$135$75
41 years$988$614$368$215$122$67
42 years$954$585$345$198$111$60
43 years$921$557$324$183$101$53
44 years$890$531$304$169$92$47
45 years$860$506$286$156$83$42
46 years$832$483$268$144$75$38
47 years$805$461$252$133$68$34
48 years$779$440$237$123$62$30
49 years$755$420$223$114$56$27
50 years$731$402$209$105$51$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $749,000, adding $4,580 every year, while hoping to spend $45,322 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: 64/22/14 Blend
61$749,000$749,000$749,000$749,000
62$830,122$790,425$778,816$880,188
63$866,572$780,934$756,684$904,779
64$905,222$769,458$732,291$925,982
65$946,246$755,854$705,515$948,028
66$989,839$739,966$676,226$971,000
67$1,036,211$721,633$644,288$994,988
68$1,085,594$700,682$609,560$1,020,095
69$1,138,239$676,931$571,896$1,046,437
70$1,194,425$650,186$531,140$1,074,143
71$1,254,455$620,243$487,131$1,103,355
72$1,318,660$586,886$439,701$1,134,234
73$1,387,407$549,887$388,675$1,166,961
74$1,461,095$509,004$333,867$1,201,733
75$1,540,162$463,980$275,087$1,238,775
76$1,625,090$414,547$212,134$1,278,334
77$1,716,407$360,418$144,799$1,320,687
78$1,814,694$301,291$72,863$1,366,142
79$1,920,587$236,849$0$1,415,043
80$2,034,786$166,754$0$1,468,354
81$2,158,061$90,651$0$1,537,569
82$2,291,254$8,165$0$1,612,302
83$2,435,295$0$0$1,693,115
84$2,591,204$0$0$1,800,265
85$2,760,102$0$0$1,918,527
86$2,943,222$0$0$2,046,792
87$3,141,921$0$0$2,186,017
88$3,357,689$0$0$2,337,251
89$3,592,167$0$0$2,501,652
90$3,847,160$0$0$2,680,491
91$4,124,653$0$0$2,875,167
92$4,426,830$0$0$3,087,220
93$4,756,096$0$0$3,318,343
94$5,115,095$0$0$3,570,403
95$5,506,739$0$0$3,845,451
96$5,934,232$0$0$4,145,746
97$6,401,103$0$0$4,473,775
98$6,911,235$0$0$4,832,275
99$7,468,902$0$0$5,224,261
100$8,078,812$0$0$5,653,051