Can I retire at age 62 with 754,000?

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 $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%18.5%
1 years$62,265$61,710$61,169$60,641$60,125$58,061
2 years$30,824$30,250$29,694$29,154$28,631$26,573
3 years$20,345$19,769$19,214$18,679$18,165$16,176
4 years$15,107$14,532$13,983$13,457$12,955$11,052
5 years$11,965$11,393$10,851$10,337$9,848$8,036
6 years$9,871$9,304$8,769$8,266$7,793$6,072
7 years$8,375$7,813$7,287$6,796$6,338$4,709
8 years$7,254$6,697$6,180$5,701$5,258$3,719
9 years$6,383$5,831$5,323$4,856$4,428$2,977
10 years$5,686$5,140$4,641$4,186$3,773$2,408
11 years$5,117$4,576$4,086$3,643$3,245$1,964
12 years$4,642$4,107$3,626$3,195$2,812$1,611
13 years$4,241$3,711$3,240$2,821$2,452$1,328
14 years$3,898$3,374$2,911$2,504$2,149$1,100
15 years$3,600$3,082$2,628$2,233$1,892$914
16 years$3,341$2,828$2,383$2,000$1,672$761
17 years$3,111$2,604$2,168$1,797$1,483$635
18 years$2,908$2,406$1,979$1,619$1,319$531
19 years$2,726$2,230$1,812$1,463$1,175$445
20 years$2,563$2,072$1,663$1,325$1,050$373
21 years$2,415$1,930$1,530$1,203$939$313
22 years$2,281$1,802$1,410$1,093$842$263
23 years$2,159$1,685$1,302$996$756$221
24 years$2,047$1,579$1,204$908$679$186
25 years$1,944$1,482$1,115$829$611$156
26 years$1,849$1,393$1,034$758$551$132
27 years$1,762$1,311$960$694$496$111
28 years$1,681$1,235$893$636$448$93
29 years$1,605$1,165$831$583$405$79
30 years$1,535$1,100$774$535$366$66
31 years$1,469$1,040$721$492$330$56
32 years$1,408$984$673$452$299$47
33 years$1,350$932$628$415$271$40
34 years$1,296$883$587$382$245$34
35 years$1,245$838$549$352$222$28
36 years$1,198$795$514$324$201$24
37 years$1,152$755$481$299$182$20
38 years$1,110$718$450$275$165$17
39 years$1,069$683$422$254$150$14
40 years$1,031$649$395$234$136$12
41 years$994$618$371$216$123$10
42 years$960$589$348$199$112$9
43 years$927$561$326$184$101$7
44 years$896$535$306$170$92$6
45 years$866$510$288$157$84$5
46 years$838$486$270$145$76$4
47 years$811$464$254$134$69$4
48 years$785$443$238$124$63$3
49 years$760$423$224$114$57$3
50 years$736$404$211$106$52$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $754,000, adding $6,087 every year, while hoping to spend $41,948 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: 67/7/26 Blend
61$754,000$754,000$754,000$754,000
62$837,187$797,225$785,538$887,245
63$877,947$791,656$767,221$916,107
64$921,460$784,409$746,885$942,350
65$967,960$775,357$724,417$970,098
66$1,017,708$764,365$699,700$999,500
67$1,070,987$751,292$672,613$1,030,724
68$1,128,108$735,986$643,026$1,063,953
69$1,189,415$718,288$610,807$1,099,393
70$1,255,281$698,030$575,815$1,137,271
71$1,326,118$675,033$537,904$1,177,838
72$1,402,380$649,107$496,921$1,221,373
73$1,484,561$620,051$452,706$1,268,186
74$1,573,208$587,655$405,093$1,318,619
75$1,668,919$551,694$353,908$1,373,051
76$1,772,353$511,932$298,968$1,431,901
77$1,884,233$468,116$240,083$1,495,636
78$2,005,354$419,984$177,056$1,564,769
79$2,136,591$367,254$109,678$1,639,870
80$2,278,905$309,631$37,734$1,721,568
81$2,433,353$246,803$0$1,810,562
82$2,601,098$178,439$0$1,918,453
83$2,783,418$104,191$0$2,047,138
84$2,981,721$23,690$0$2,187,150
85$3,197,554$0$0$2,339,602
86$3,432,621$0$0$2,510,608
87$3,688,795$0$0$2,699,001
88$3,968,139$0$0$2,904,478
89$4,272,924$0$0$3,128,714
90$4,605,648$0$0$3,373,553
91$4,969,062$0$0$3,641,026
92$5,366,193$0$0$3,933,368
93$5,800,376$0$0$4,253,038
94$6,275,281$0$0$4,602,746
95$6,794,949$0$0$4,985,476
96$7,363,830$0$0$5,404,511
97$7,986,824$0$0$5,863,469
98$8,669,329$0$0$6,366,333
99$9,417,286$0$0$6,917,491
100$10,237,240$0$0$7,521,772