Can I retire at age 62 with 753,000?

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 $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%13.4%
1 years$62,182$61,628$61,088$60,560$60,045$59,197
2 years$30,783$30,210$29,654$29,116$28,593$27,740
3 years$20,318$19,742$19,188$18,655$18,141$17,309
4 years$15,087$14,513$13,964$13,440$12,938$12,135
5 years$11,949$11,378$10,837$10,323$9,835$9,063
6 years$9,857$9,291$8,758$8,255$7,782$7,041
7 years$8,364$7,803$7,278$6,787$6,329$5,620
8 years$7,245$6,688$6,172$5,694$5,251$4,573
9 years$6,375$5,823$5,316$4,850$4,422$3,775
10 years$5,679$5,133$4,635$4,180$3,768$3,152
11 years$5,110$4,570$4,080$3,638$3,240$2,655
12 years$4,636$4,101$3,621$3,191$2,808$2,252
13 years$4,236$3,707$3,235$2,817$2,449$1,921
14 years$3,893$3,369$2,907$2,501$2,146$1,647
15 years$3,596$3,078$2,624$2,230$1,890$1,418
16 years$3,336$2,824$2,379$1,997$1,670$1,224
17 years$3,107$2,601$2,165$1,794$1,481$1,060
18 years$2,904$2,403$1,977$1,617$1,317$921
19 years$2,722$2,227$1,809$1,461$1,174$801
20 years$2,559$2,070$1,661$1,323$1,048$698
21 years$2,412$1,928$1,527$1,201$938$609
22 years$2,278$1,799$1,408$1,092$841$532
23 years$2,156$1,683$1,300$995$755$466
24 years$2,044$1,577$1,202$907$678$408
25 years$1,941$1,480$1,113$828$611$357
26 years$1,847$1,391$1,033$757$550$314
27 years$1,759$1,309$959$693$496$275
28 years$1,678$1,233$891$635$447$242
29 years$1,603$1,164$830$583$404$212
30 years$1,533$1,099$773$535$365$187
31 years$1,467$1,039$720$491$330$164
32 years$1,406$983$672$451$299$144
33 years$1,349$931$628$415$270$127
34 years$1,295$882$586$382$245$112
35 years$1,244$837$548$351$222$98
36 years$1,196$794$513$324$201$87
37 years$1,151$754$480$298$182$76
38 years$1,108$717$449$275$165$67
39 years$1,068$682$421$253$150$59
40 years$1,029$649$395$234$136$52
41 years$993$617$370$216$123$46
42 years$959$588$347$199$112$41
43 years$926$560$326$184$101$36
44 years$895$534$306$170$92$31
45 years$865$509$287$157$84$28
46 years$837$486$270$145$76$24
47 years$809$464$253$134$69$22
48 years$784$443$238$124$63$19
49 years$759$423$224$114$57$17
50 years$735$404$210$106$52$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $753,000, adding $2,347 every year, while hoping to spend $21,126 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: 41/46/13 Blend
61$753,000$753,000$753,000$753,000
62$832,227$792,318$780,646$863,059
63$894,636$808,664$784,320$901,349
64$962,703$825,102$787,409$940,499
65$1,036,983$841,616$789,871$982,409
66$1,118,085$858,185$791,662$1,027,341
67$1,206,683$874,790$792,736$1,075,581
68$1,303,516$891,406$793,044$1,127,447
69$1,409,400$908,010$792,536$1,183,288
70$1,525,231$924,574$791,158$1,243,489
71$1,651,996$941,071$788,854$1,308,475
72$1,790,785$957,468$785,565$1,378,715
73$1,942,793$973,733$781,230$1,454,726
74$2,109,342$989,829$775,785$1,537,078
75$2,291,882$1,005,718$769,161$1,626,399
76$2,492,014$1,021,358$761,288$1,723,382
77$2,711,500$1,036,705$752,091$1,828,793
78$2,952,280$1,051,710$741,494$1,943,474
79$3,216,492$1,066,324$729,414$2,068,357
80$3,506,491$1,080,491$715,766$2,204,467
81$3,824,871$1,094,152$700,461$2,352,935
82$4,174,487$1,107,245$683,407$2,515,011
83$4,558,488$1,119,704$664,504$2,692,070
84$4,980,341$1,131,456$643,652$2,885,631
85$5,443,865$1,142,426$620,743$3,097,369
86$5,953,267$1,152,533$595,666$3,329,131
87$6,513,183$1,161,690$568,304$3,582,954
88$7,128,720$1,169,806$538,534$3,861,085
89$7,805,505$1,176,781$506,230$4,166,001
90$8,549,735$1,182,513$471,258$4,500,436
91$9,368,242$1,186,889$433,479$4,867,401
92$10,268,549$1,189,793$392,746$5,270,223
93$11,258,946$1,191,098$348,909$5,712,564
94$12,348,569$1,190,672$301,807$6,198,466
95$13,547,481$1,188,374$251,276$6,732,388
96$14,866,772$1,184,052$197,142$7,319,243
97$16,318,661$1,177,548$139,224$7,964,451
98$17,916,609$1,168,693$77,334$8,673,987
99$19,675,452$1,157,308$11,273$9,454,442
100$21,611,535$1,143,203$0$10,313,082