Can I retire at age 62 with 754,000?

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 $754,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$62,265$61,710$61,169$60,641$60,125$58,294
2 years$30,824$30,250$29,694$29,154$28,631$26,802
3 years$20,345$19,769$19,214$18,679$18,165$16,395
4 years$15,107$14,532$13,983$13,457$12,955$11,258
5 years$11,965$11,393$10,851$10,337$9,848$8,229
6 years$9,871$9,304$8,769$8,266$7,793$6,252
7 years$8,375$7,813$7,287$6,796$6,338$4,876
8 years$7,254$6,697$6,180$5,701$5,258$3,874
9 years$6,383$5,831$5,323$4,856$4,428$3,121
10 years$5,686$5,140$4,641$4,186$3,773$2,540
11 years$5,117$4,576$4,086$3,643$3,245$2,084
12 years$4,642$4,107$3,626$3,195$2,812$1,722
13 years$4,241$3,711$3,240$2,821$2,452$1,429
14 years$3,898$3,374$2,911$2,504$2,149$1,192
15 years$3,600$3,082$2,628$2,233$1,892$997
16 years$3,341$2,828$2,383$2,000$1,672$836
17 years$3,111$2,604$2,168$1,797$1,483$703
18 years$2,908$2,406$1,979$1,619$1,319$592
19 years$2,726$2,230$1,812$1,463$1,175$500
20 years$2,563$2,072$1,663$1,325$1,050$422
21 years$2,415$1,930$1,530$1,203$939$357
22 years$2,281$1,802$1,410$1,093$842$302
23 years$2,159$1,685$1,302$996$756$256
24 years$2,047$1,579$1,204$908$679$217
25 years$1,944$1,482$1,115$829$611$184
26 years$1,849$1,393$1,034$758$551$156
27 years$1,762$1,311$960$694$496$133
28 years$1,681$1,235$893$636$448$113
29 years$1,605$1,165$831$583$405$96
30 years$1,535$1,100$774$535$366$81
31 years$1,469$1,040$721$492$330$69
32 years$1,408$984$673$452$299$59
33 years$1,350$932$628$415$271$50
34 years$1,296$883$587$382$245$43
35 years$1,245$838$549$352$222$36
36 years$1,198$795$514$324$201$31
37 years$1,152$755$481$299$182$26
38 years$1,110$718$450$275$165$22
39 years$1,069$683$422$254$150$19
40 years$1,031$649$395$234$136$16
41 years$994$618$371$216$123$14
42 years$960$589$348$199$112$12
43 years$927$561$326$184$101$10
44 years$896$535$306$170$92$8
45 years$866$510$288$157$84$7
46 years$838$486$270$145$76$6
47 years$811$464$254$134$69$5
48 years$785$443$238$124$63$4
49 years$760$423$224$114$57$4
50 years$736$404$211$106$52$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $754,000, adding $4,390 every year, while hoping to spend $54,766 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: 69/11/20 Blend
61$754,000$754,000$754,000$754,000
62$835,436$795,474$783,787$888,674
63$862,380$776,182$751,774$905,497
64$890,237$754,109$716,852$917,065
65$919,042$729,061$678,867$928,382
66$948,831$700,832$637,657$939,419
67$979,645$669,206$593,051$950,146
68$1,011,524$633,952$544,873$960,531
69$1,044,511$594,827$492,938$970,541
70$1,078,652$551,575$437,052$980,141
71$1,113,995$503,922$377,014$989,295
72$1,150,590$451,582$312,612$997,963
73$1,188,491$394,251$243,625$1,006,108
74$1,227,756$331,607$169,825$1,013,687
75$1,268,443$263,313$90,971$1,020,659
76$1,310,618$189,008$6,812$1,026,977
77$1,354,347$108,316$0$1,032,597
78$1,399,704$20,836$0$1,055,184
79$1,446,763$0$0$1,079,678
80$1,495,608$0$0$1,113,574
81$1,546,326$0$0$1,151,394
82$1,599,009$0$0$1,190,684
83$1,653,756$0$0$1,231,520
84$1,710,675$0$0$1,273,982
85$1,769,879$0$0$1,318,156
86$1,831,490$0$0$1,364,134
87$1,895,640$0$0$1,412,014
88$1,962,469$0$0$1,461,904
89$2,032,129$0$0$1,513,917
90$2,104,783$0$0$1,568,177
91$2,180,608$0$0$1,624,816
92$2,259,792$0$0$1,683,978
93$2,342,541$0$0$1,745,818
94$2,429,076$0$0$1,810,502
95$2,519,638$0$0$1,878,213
96$2,614,484$0$0$1,949,146
97$2,713,898$0$0$2,023,513
98$2,818,182$0$0$2,101,547
99$2,927,668$0$0$2,183,496
100$3,042,717$0$0$2,269,633