Can I retire at age 62 with 751,000?

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 $751,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$62,017$61,464$60,926$60,399$59,886$58,773
2 years$30,701$30,130$29,575$29,038$28,517$27,400
3 years$20,264$19,690$19,137$18,605$18,092$17,006
4 years$15,047$14,474$13,927$13,404$12,904$11,856
5 years$11,917$11,348$10,808$10,295$9,809$8,804
6 years$9,831$9,266$8,734$8,233$7,762$6,799
7 years$8,342$7,782$7,258$6,769$6,312$5,393
8 years$7,226$6,671$6,156$5,678$5,237$4,361
9 years$6,358$5,808$5,302$4,837$4,410$3,577
10 years$5,664$5,119$4,622$4,169$3,758$2,966
11 years$5,096$4,558$4,069$3,629$3,232$2,481
12 years$4,624$4,091$3,611$3,183$2,800$2,090
13 years$4,224$3,697$3,227$2,810$2,442$1,770
14 years$3,882$3,360$2,899$2,494$2,141$1,506
15 years$3,586$3,070$2,618$2,224$1,885$1,287
16 years$3,327$2,816$2,373$1,992$1,666$1,103
17 years$3,099$2,594$2,159$1,790$1,477$948
18 years$2,896$2,397$1,971$1,613$1,313$816
19 years$2,715$2,221$1,805$1,457$1,171$704
20 years$2,552$2,064$1,656$1,320$1,046$609
21 years$2,405$1,923$1,523$1,198$936$527
22 years$2,272$1,795$1,404$1,089$839$457
23 years$2,150$1,679$1,296$992$753$396
24 years$2,039$1,573$1,199$905$677$344
25 years$1,936$1,476$1,110$826$609$299
26 years$1,842$1,387$1,030$755$548$260
27 years$1,755$1,305$956$691$495$226
28 years$1,674$1,230$889$634$446$197
29 years$1,599$1,160$827$581$403$171
30 years$1,529$1,096$771$533$364$149
31 years$1,463$1,036$718$490$329$130
32 years$1,402$980$670$450$298$113
33 years$1,345$928$626$414$269$99
34 years$1,291$880$585$381$244$86
35 years$1,240$835$547$351$221$75
36 years$1,193$792$511$323$200$66
37 years$1,148$752$479$297$181$57
38 years$1,105$715$448$274$165$50
39 years$1,065$680$420$253$149$44
40 years$1,027$647$394$233$135$38
41 years$991$616$369$215$123$33
42 years$956$586$346$199$111$29
43 years$923$559$325$183$101$25
44 years$892$533$305$169$92$22
45 years$863$508$286$156$83$19
46 years$834$484$269$144$76$17
47 years$807$462$253$133$69$15
48 years$782$441$237$123$62$13
49 years$757$421$223$114$57$11
50 years$733$403$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 $751,000, adding $3,370 every year, while hoping to spend $49,454 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: 61/30/9 Blend
61$751,000$751,000$751,000$751,000
62$831,078$791,275$779,635$879,921
63$863,229$777,429$753,134$899,196
64$897,003$761,247$724,088$914,237
65$932,511$742,562$692,359$929,412
66$969,878$721,198$657,803$944,734
67$1,009,237$696,968$620,271$960,221
68$1,050,734$669,675$579,605$975,895
69$1,094,529$639,109$535,642$991,780
70$1,140,793$605,048$488,209$1,007,909
71$1,189,718$567,259$437,127$1,024,319
72$1,241,509$525,494$382,211$1,041,052
73$1,296,391$479,492$323,263$1,058,160
74$1,354,611$428,975$260,080$1,075,703
75$1,416,438$373,651$192,450$1,093,749
76$1,482,167$313,212$120,149$1,112,380
77$1,552,119$247,331$42,945$1,131,688
78$1,626,648$175,663$0$1,151,779
79$1,706,139$97,844$0$1,176,562
80$1,791,016$13,489$0$1,207,036
81$1,881,743$0$0$1,239,256
82$1,978,827$0$0$1,299,116
83$2,082,825$0$0$1,368,046
84$2,194,350$0$0$1,442,005
85$2,314,070$0$0$1,521,441
86$2,442,723$0$0$1,606,850
87$2,581,116$0$0$1,698,772
88$2,730,136$0$0$1,797,802
89$2,890,758$0$0$1,904,595
90$3,064,050$0$0$2,019,869
91$3,251,188$0$0$2,144,412
92$3,453,465$0$0$2,279,092
93$3,672,300$0$0$2,424,861
94$3,909,253$0$0$2,582,768
95$4,166,040$0$0$2,753,965
96$4,444,548$0$0$2,939,718
97$4,746,851$0$0$3,141,420
98$5,075,232$0$0$3,360,605
99$5,432,199$0$0$3,598,957
100$5,820,515$0$0$3,858,331