Can I retire at age 62 with 750,000?

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 $750,000?

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$61,934$61,383$60,844$60,319$59,806$58,719
2 years$30,661$30,090$29,536$29,000$28,479$27,387
3 years$20,237$19,664$19,112$18,580$18,068$17,006
4 years$15,027$14,455$13,909$13,386$12,886$11,863
5 years$11,901$11,333$10,794$10,282$9,796$8,813
6 years$9,818$9,254$8,723$8,222$7,751$6,810
7 years$8,331$7,772$7,249$6,760$6,304$5,405
8 years$7,216$6,662$6,147$5,671$5,230$4,373
9 years$6,349$5,800$5,295$4,830$4,404$3,589
10 years$5,656$5,113$4,616$4,164$3,753$2,978
11 years$5,090$4,551$4,064$3,624$3,227$2,493
12 years$4,618$4,085$3,607$3,179$2,797$2,101
13 years$4,219$3,692$3,222$2,806$2,439$1,781
14 years$3,877$3,356$2,895$2,491$2,138$1,516
15 years$3,581$3,066$2,614$2,222$1,882$1,296
16 years$3,323$2,813$2,370$1,989$1,664$1,112
17 years$3,095$2,590$2,157$1,787$1,475$956
18 years$2,892$2,394$1,969$1,611$1,312$824
19 years$2,712$2,218$1,802$1,455$1,169$711
20 years$2,549$2,061$1,654$1,318$1,044$615
21 years$2,402$1,920$1,521$1,196$934$533
22 years$2,269$1,792$1,402$1,088$838$462
23 years$2,147$1,676$1,295$991$752$401
24 years$2,036$1,571$1,197$903$676$349
25 years$1,934$1,474$1,109$825$608$303
26 years$1,839$1,385$1,029$754$548$264
27 years$1,752$1,304$955$691$494$230
28 years$1,672$1,228$888$633$446$200
29 years$1,597$1,159$826$580$402$174
30 years$1,527$1,094$770$532$364$152
31 years$1,461$1,035$717$489$329$133
32 years$1,400$979$669$449$297$116
33 years$1,343$927$625$413$269$101
34 years$1,289$879$584$380$244$88
35 years$1,239$833$546$350$221$77
36 years$1,191$791$511$322$200$67
37 years$1,146$751$478$297$181$59
38 years$1,104$714$448$274$164$51
39 years$1,063$679$419$252$149$45
40 years$1,025$646$393$233$135$39
41 years$989$615$369$215$123$34
42 years$955$586$346$198$111$30
43 years$922$558$324$183$101$26
44 years$891$532$305$169$92$23
45 years$861$507$286$156$83$20
46 years$833$484$269$144$76$17
47 years$806$462$252$133$69$15
48 years$780$441$237$123$62$13
49 years$756$421$223$114$57$12
50 years$732$402$210$105$51$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $750,000, adding $6,558 every year, while hoping to spend $58,586 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: 69/10/21 Blend
61$750,000$750,000$750,000$750,000
62$833,265$793,515$781,890$885,978
63$855,923$770,062$745,748$898,590
64$878,928$743,496$706,432$904,925
65$902,255$713,603$663,773$910,435
66$925,871$680,157$617,596$915,034
67$949,742$642,916$567,718$918,630
68$973,825$601,628$513,945$921,123
69$998,071$556,024$456,078$922,405
70$1,022,425$505,820$393,908$922,359
71$1,046,823$450,716$327,215$920,857
72$1,071,194$390,396$255,771$917,761
73$1,095,454$324,524$179,338$912,924
74$1,119,512$252,747$97,667$906,182
75$1,143,262$174,691$10,499$897,362
76$1,166,585$89,962$0$886,272
77$1,189,349$0$0$891,198
78$1,211,403$0$0$897,342
79$1,232,580$0$0$912,696
80$1,252,693$0$0$927,216
81$1,271,529$0$0$940,742
82$1,288,856$0$0$953,094
83$1,304,411$0$0$964,074
84$1,317,900$0$0$973,456
85$1,329,000$0$0$980,994
86$1,337,347$0$0$986,410
87$1,342,538$0$0$989,397
88$1,344,126$0$0$989,613
89$1,341,611$0$0$986,680
90$1,334,443$0$0$980,175
91$1,322,006$0$0$969,632
92$1,303,622$0$0$954,532
93$1,278,536$0$0$934,300
94$1,245,913$0$0$908,301
95$1,204,827$0$0$875,829
96$1,154,252$0$0$836,104
97$1,093,054$0$0$788,261
98$1,019,978$0$0$731,345
99$933,634$0$0$664,298
100$832,487$0$0$585,950