Can I retire at age 62 with 753,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $753,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$62,182$61,628$61,088$60,560$60,045$58,287
2 years$30,783$30,210$29,654$29,116$28,593$26,835
3 years$20,318$19,742$19,188$18,655$18,141$16,439
4 years$15,087$14,513$13,964$13,440$12,938$11,306
5 years$11,949$11,378$10,837$10,323$9,835$8,277
6 years$9,857$9,291$8,758$8,255$7,782$6,299
7 years$8,364$7,803$7,278$6,787$6,329$4,921
8 years$7,245$6,688$6,172$5,694$5,251$3,917
9 years$6,375$5,823$5,316$4,850$4,422$3,161
10 years$5,679$5,133$4,635$4,180$3,768$2,577
11 years$5,110$4,570$4,080$3,638$3,240$2,119
12 years$4,636$4,101$3,621$3,191$2,808$1,754
13 years$4,236$3,707$3,235$2,817$2,449$1,459
14 years$3,893$3,369$2,907$2,501$2,146$1,219
15 years$3,596$3,078$2,624$2,230$1,890$1,022
16 years$3,336$2,824$2,379$1,997$1,670$859
17 years$3,107$2,601$2,165$1,794$1,481$724
18 years$2,904$2,403$1,977$1,617$1,317$611
19 years$2,722$2,227$1,809$1,461$1,174$517
20 years$2,559$2,070$1,661$1,323$1,048$438
21 years$2,412$1,928$1,527$1,201$938$371
22 years$2,278$1,799$1,408$1,092$841$315
23 years$2,156$1,683$1,300$995$755$267
24 years$2,044$1,577$1,202$907$678$227
25 years$1,941$1,480$1,113$828$611$193
26 years$1,847$1,391$1,033$757$550$164
27 years$1,759$1,309$959$693$496$140
28 years$1,678$1,233$891$635$447$119
29 years$1,603$1,164$830$583$404$102
30 years$1,533$1,099$773$535$365$86
31 years$1,467$1,039$720$491$330$74
32 years$1,406$983$672$451$299$63
33 years$1,349$931$628$415$270$54
34 years$1,295$882$586$382$245$46
35 years$1,244$837$548$351$222$39
36 years$1,196$794$513$324$201$33
37 years$1,151$754$480$298$182$28
38 years$1,108$717$449$275$165$24
39 years$1,068$682$421$253$150$21
40 years$1,029$649$395$234$136$18
41 years$993$617$370$216$123$15
42 years$959$588$347$199$112$13
43 years$926$560$326$184$101$11
44 years$895$534$306$170$92$9
45 years$865$509$287$157$84$8
46 years$837$486$270$145$76$7
47 years$809$464$253$134$69$6
48 years$784$443$238$124$63$5
49 years$759$423$224$114$57$4
50 years$735$404$210$106$52$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $753,000, adding $5,883 every year, while hoping to spend $50,554 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: 28/47/25 Blend
61$753,000$753,000$753,000$753,000
62$835,874$795,965$784,294$852,630
63$867,344$781,179$756,779$851,530
64$900,330$763,973$726,647$845,542
65$934,933$744,176$693,759$838,066
66$971,262$721,607$657,966$829,008
67$1,009,437$696,072$619,114$818,272
68$1,049,588$667,368$577,043$805,753
69$1,091,856$635,279$531,584$791,348
70$1,136,394$599,577$482,560$774,944
71$1,183,370$560,020$429,790$756,428
72$1,232,966$516,353$373,080$735,680
73$1,285,381$468,306$312,231$712,577
74$1,340,831$415,595$247,032$686,992
75$1,399,555$357,918$177,267$658,792
76$1,461,810$294,957$102,705$627,842
77$1,527,879$226,374$23,111$594,002
78$1,598,072$151,815$0$557,128
79$1,672,726$70,905$0$533,565
80$1,752,212$0$0$514,322
81$1,836,935$0$0$501,807
82$1,927,339$0$0$527,655
83$2,023,909$0$0$555,341
84$2,127,179$0$0$585,027
85$2,237,733$0$0$616,893
86$2,356,211$0$0$651,133
87$2,483,316$0$0$687,961
88$2,619,819$0$0$727,615
89$2,766,566$0$0$770,351
90$2,924,487$0$0$816,455
91$3,094,601$0$0$866,239
92$3,278,029$0$0$920,045
93$3,476,002$0$0$978,252
94$3,689,871$0$0$1,041,273
95$3,921,124$0$0$1,109,564
96$4,171,394$0$0$1,183,627
97$4,442,476$0$0$1,264,012
98$4,736,344$0$0$1,351,325
99$5,055,171$0$0$1,446,233
100$5,401,343$0$0$1,549,470