Can I retire at age 62 with 755,000?

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 $755,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$62,347$61,792$61,250$60,721$60,205$59,725
2 years$30,865$30,290$29,733$29,193$28,669$28,186
3 years$20,372$19,795$19,239$18,704$18,189$17,717
4 years$15,127$14,551$14,001$13,475$12,972$12,515
5 years$11,981$11,408$10,866$10,350$9,861$9,420
6 years$9,884$9,316$8,781$8,277$7,803$7,378
7 years$8,386$7,823$7,297$6,805$6,346$5,938
8 years$7,264$6,706$6,188$5,709$5,265$4,874
9 years$6,392$5,839$5,330$4,863$4,434$4,059
10 years$5,694$5,147$4,647$4,192$3,778$3,420
11 years$5,124$4,582$4,091$3,648$3,249$2,907
12 years$4,649$4,112$3,631$3,200$2,815$2,490
13 years$4,247$3,716$3,244$2,825$2,455$2,145
14 years$3,903$3,378$2,915$2,508$2,152$1,857
15 years$3,605$3,086$2,631$2,236$1,895$1,615
16 years$3,345$2,831$2,386$2,002$1,675$1,409
17 years$3,115$2,608$2,171$1,799$1,485$1,233
18 years$2,912$2,409$1,982$1,621$1,320$1,082
19 years$2,730$2,233$1,814$1,465$1,177$952
20 years$2,566$2,075$1,665$1,327$1,051$839
21 years$2,418$1,933$1,532$1,204$941$740
22 years$2,284$1,804$1,412$1,095$843$654
23 years$2,161$1,687$1,303$997$757$579
24 years$2,049$1,581$1,205$909$680$513
25 years$1,947$1,484$1,116$831$612$455
26 years$1,852$1,394$1,035$759$551$404
27 years$1,764$1,312$961$695$497$359
28 years$1,683$1,237$894$637$449$319
29 years$1,607$1,167$832$584$405$284
30 years$1,537$1,102$775$536$366$252
31 years$1,471$1,042$722$492$331$225
32 years$1,410$985$674$452$299$200
33 years$1,352$933$629$416$271$178
34 years$1,298$885$588$383$245$159
35 years$1,247$839$550$352$222$142
36 years$1,199$796$514$325$201$126
37 years$1,154$756$481$299$182$113
38 years$1,111$719$451$276$165$101
39 years$1,071$683$422$254$150$90
40 years$1,032$650$396$234$136$80
41 years$996$619$371$216$123$71
42 years$961$590$348$200$112$64
43 years$928$562$327$184$102$57
44 years$897$535$307$170$92$51
45 years$867$511$288$157$84$45
46 years$839$487$270$145$76$41
47 years$812$465$254$134$69$36
48 years$786$444$239$124$63$32
49 years$761$424$224$114$57$29
50 years$737$405$211$106$52$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $755,000, adding $6,908 every year, while hoping to spend $55,973 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: 49/35/16 Blend
61$755,000$755,000$755,000$755,000
62$839,136$799,121$787,418$876,204
63$865,173$778,723$754,242$882,122
64$891,989$755,449$718,078$882,214
65$919,606$729,100$678,768$881,093
66$948,044$699,464$636,145$878,664
67$977,324$666,317$590,035$874,829
68$1,007,467$629,422$540,256$869,482
69$1,038,493$588,529$486,620$862,511
70$1,070,424$543,372$428,926$853,798
71$1,103,282$493,671$366,970$843,217
72$1,137,087$439,131$300,533$830,634
73$1,171,860$379,439$229,391$815,911
74$1,207,621$314,263$153,308$798,896
75$1,244,392$243,255$72,037$779,433
76$1,282,191$166,046$0$757,355
77$1,321,038$82,246$0$734,993
78$1,360,952$0$0$722,939
79$1,401,950$0$0$712,026
80$1,444,048$0$0$733,341
81$1,487,262$0$0$755,213
82$1,531,605$0$0$777,650
83$1,577,090$0$0$800,655
84$1,623,725$0$0$824,232
85$1,671,520$0$0$848,385
86$1,720,477$0$0$873,114
87$1,770,600$0$0$898,418
88$1,821,887$0$0$924,295
89$1,874,331$0$0$950,740
90$1,927,923$0$0$977,746
91$1,982,647$0$0$1,005,302
92$2,038,483$0$0$1,033,396
93$2,095,402$0$0$1,062,010
94$2,153,371$0$0$1,091,123
95$2,212,345$0$0$1,120,711
96$2,272,274$0$0$1,150,743
97$2,333,096$0$0$1,181,184
98$2,394,736$0$0$1,211,991
99$2,457,108$0$0$1,243,116
100$2,520,114$0$0$1,274,502