Can I retire at age 62 with 755,000?

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 $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%17.7%
1 years$62,347$61,792$61,250$60,721$60,205$58,324
2 years$30,865$30,290$29,733$29,193$28,669$26,791
3 years$20,372$19,795$19,239$18,704$18,189$16,373
4 years$15,127$14,551$14,001$13,475$12,972$11,232
5 years$11,981$11,408$10,866$10,350$9,861$8,201
6 years$9,884$9,316$8,781$8,277$7,803$6,224
7 years$8,386$7,823$7,297$6,805$6,346$4,848
8 years$7,264$6,706$6,188$5,709$5,265$3,848
9 years$6,392$5,839$5,330$4,863$4,434$3,095
10 years$5,694$5,147$4,647$4,192$3,778$2,516
11 years$5,124$4,582$4,091$3,648$3,249$2,062
12 years$4,649$4,112$3,631$3,200$2,815$1,701
13 years$4,247$3,716$3,244$2,825$2,455$1,410
14 years$3,903$3,378$2,915$2,508$2,152$1,174
15 years$3,605$3,086$2,631$2,236$1,895$981
16 years$3,345$2,831$2,386$2,002$1,675$822
17 years$3,115$2,608$2,171$1,799$1,485$690
18 years$2,912$2,409$1,982$1,621$1,320$580
19 years$2,730$2,233$1,814$1,465$1,177$489
20 years$2,566$2,075$1,665$1,327$1,051$412
21 years$2,418$1,933$1,532$1,204$941$348
22 years$2,284$1,804$1,412$1,095$843$294
23 years$2,161$1,687$1,303$997$757$249
24 years$2,049$1,581$1,205$909$680$211
25 years$1,947$1,484$1,116$831$612$179
26 years$1,852$1,394$1,035$759$551$151
27 years$1,764$1,312$961$695$497$128
28 years$1,683$1,237$894$637$449$109
29 years$1,607$1,167$832$584$405$92
30 years$1,537$1,102$775$536$366$78
31 years$1,471$1,042$722$492$331$66
32 years$1,410$985$674$452$299$56
33 years$1,352$933$629$416$271$48
34 years$1,298$885$588$383$245$41
35 years$1,247$839$550$352$222$35
36 years$1,199$796$514$325$201$29
37 years$1,154$756$481$299$182$25
38 years$1,111$719$451$276$165$21
39 years$1,071$683$422$254$150$18
40 years$1,032$650$396$234$136$15
41 years$996$619$371$216$123$13
42 years$961$590$348$200$112$11
43 years$928$562$327$184$102$9
44 years$897$535$307$170$92$8
45 years$867$511$288$157$84$7
46 years$839$487$270$145$76$6
47 years$812$465$254$134$69$5
48 years$786$444$239$124$63$4
49 years$761$424$224$114$57$4
50 years$737$405$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 $755,000, adding $6,275 every year, while hoping to spend $31,491 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: 30/48/22 Blend
61$755,000$755,000$755,000$755,000
62$838,483$798,468$786,765$857,736
63$890,502$804,086$779,616$878,595
64$946,771$808,925$771,171$897,779
65$1,007,692$812,912$761,355$917,762
66$1,073,703$815,971$750,087$938,633
67$1,145,289$818,022$737,283$960,492
68$1,222,982$818,979$722,856$983,452
69$1,307,367$818,750$706,713$1,007,639
70$1,399,088$817,238$688,757$1,033,197
71$1,498,853$814,341$668,889$1,060,284
72$1,607,442$809,950$647,002$1,089,079
73$1,725,712$803,948$622,987$1,119,782
74$1,854,606$796,212$596,729$1,152,618
75$1,995,162$786,613$568,106$1,187,836
76$2,148,524$775,013$536,992$1,225,716
77$2,315,949$761,264$503,257$1,266,571
78$2,498,822$745,213$466,763$1,310,749
79$2,698,668$726,694$427,365$1,358,639
80$2,917,164$705,534$384,914$1,410,674
81$3,156,159$681,549$339,253$1,467,336
82$3,417,687$654,545$290,217$1,529,164
83$3,703,988$624,314$237,637$1,596,755
84$4,017,529$590,640$181,332$1,670,775
85$4,361,027$553,291$121,117$1,751,963
86$4,737,473$512,024$56,796$1,841,141
87$5,150,164$466,582$0$1,939,224
88$5,602,726$416,690$0$2,050,005
89$6,099,159$362,063$0$2,186,239
90$6,643,864$302,394$0$2,335,882
91$7,241,690$237,364$0$2,500,375
92$7,897,979$166,631$0$2,681,312
93$8,618,615$89,839$0$2,880,457
94$9,410,081$6,607$0$3,099,763
95$10,279,515$0$0$3,341,388
96$11,234,783$0$0$3,651,804
97$12,284,553$0$0$3,996,891
98$13,438,369$0$0$4,376,315
99$14,706,749$0$0$4,793,549
100$16,101,281$0$0$5,252,424