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%15.6%
1 years$62,347$61,792$61,250$60,721$60,205$58,821
2 years$30,865$30,290$29,733$29,193$28,669$27,282
3 years$20,372$19,795$19,239$18,704$18,189$16,843
4 years$15,127$14,551$14,001$13,475$12,972$11,677
5 years$11,981$11,408$10,866$10,350$9,861$8,621
6 years$9,884$9,316$8,781$8,277$7,803$6,619
7 years$8,386$7,823$7,297$6,805$6,346$5,218
8 years$7,264$6,706$6,188$5,709$5,265$4,192
9 years$6,392$5,839$5,330$4,863$4,434$3,416
10 years$5,694$5,147$4,647$4,192$3,778$2,813
11 years$5,124$4,582$4,091$3,648$3,249$2,337
12 years$4,649$4,112$3,631$3,200$2,815$1,954
13 years$4,247$3,716$3,244$2,825$2,455$1,643
14 years$3,903$3,378$2,915$2,508$2,152$1,388
15 years$3,605$3,086$2,631$2,236$1,895$1,177
16 years$3,345$2,831$2,386$2,002$1,675$1,001
17 years$3,115$2,608$2,171$1,799$1,485$853
18 years$2,912$2,409$1,982$1,621$1,320$729
19 years$2,730$2,233$1,814$1,465$1,177$624
20 years$2,566$2,075$1,665$1,327$1,051$535
21 years$2,418$1,933$1,532$1,204$941$459
22 years$2,284$1,804$1,412$1,095$843$394
23 years$2,161$1,687$1,303$997$757$339
24 years$2,049$1,581$1,205$909$680$292
25 years$1,947$1,484$1,116$831$612$251
26 years$1,852$1,394$1,035$759$551$217
27 years$1,764$1,312$961$695$497$187
28 years$1,683$1,237$894$637$449$161
29 years$1,607$1,167$832$584$405$139
30 years$1,537$1,102$775$536$366$120
31 years$1,471$1,042$722$492$331$104
32 years$1,410$985$674$452$299$90
33 years$1,352$933$629$416$271$77
34 years$1,298$885$588$383$245$67
35 years$1,247$839$550$352$222$58
36 years$1,199$796$514$325$201$50
37 years$1,154$756$481$299$182$43
38 years$1,111$719$451$276$165$37
39 years$1,071$683$422$254$150$32
40 years$1,032$650$396$234$136$28
41 years$996$619$371$216$123$24
42 years$961$590$348$200$112$21
43 years$928$562$327$184$102$18
44 years$897$535$307$170$92$16
45 years$867$511$288$157$84$13
46 years$839$487$270$145$76$12
47 years$812$465$254$134$69$10
48 years$786$444$239$124$63$9
49 years$761$424$224$114$57$8
50 years$737$405$211$106$52$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $755,000, adding $6,580 every year, while hoping to spend $57,772 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: 66/28/6 Blend
61$755,000$755,000$755,000$755,000
62$838,797$798,782$787,080$892,935
63$862,886$776,454$751,978$907,389
64$887,495$751,095$713,764$915,630
65$912,617$722,496$672,273$923,095
66$938,241$690,435$627,331$929,700
67$964,354$654,679$578,759$935,354
68$990,938$614,978$526,368$939,962
69$1,017,973$571,072$469,960$943,419
70$1,045,433$522,681$409,331$945,612
71$1,073,288$469,514$344,264$946,420
72$1,101,503$411,259$274,537$945,713
73$1,130,037$347,591$199,914$943,351
74$1,158,840$278,162$120,150$939,180
75$1,187,858$202,608$34,991$933,039
76$1,217,026$120,543$0$924,751
77$1,246,271$31,559$0$917,704
78$1,275,511$0$0$910,738
79$1,304,650$0$0$921,367
80$1,333,581$0$0$941,542
81$1,362,182$0$0$961,449
82$1,390,316$0$0$980,990
83$1,417,830$0$0$1,000,049
84$1,444,550$0$0$1,018,501
85$1,470,281$0$0$1,036,203
86$1,494,806$0$0$1,052,996
87$1,517,881$0$0$1,068,702
88$1,539,234$0$0$1,083,121
89$1,558,561$0$0$1,096,031
90$1,575,522$0$0$1,107,185
91$1,589,740$0$0$1,116,306
92$1,600,794$0$0$1,123,087
93$1,608,215$0$0$1,127,187
94$1,611,484$0$0$1,128,226
95$1,610,023$0$0$1,125,782
96$1,603,188$0$0$1,119,387
97$1,590,268$0$0$1,108,521
98$1,570,472$0$0$1,092,607
99$1,542,924$0$0$1,071,008
100$1,506,652$0$0$1,043,014