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%17.9%
1 years$62,347$61,792$61,250$60,721$60,205$58,278
2 years$30,865$30,290$29,733$29,193$28,669$26,745
3 years$20,372$19,795$19,239$18,704$18,189$16,329
4 years$15,127$14,551$14,001$13,475$12,972$11,190
5 years$11,981$11,408$10,866$10,350$9,861$8,162
6 years$9,884$9,316$8,781$8,277$7,803$6,188
7 years$8,386$7,823$7,297$6,805$6,346$4,815
8 years$7,264$6,706$6,188$5,709$5,265$3,816
9 years$6,392$5,839$5,330$4,863$4,434$3,067
10 years$5,694$5,147$4,647$4,192$3,778$2,490
11 years$5,124$4,582$4,091$3,648$3,249$2,038
12 years$4,649$4,112$3,631$3,200$2,815$1,679
13 years$4,247$3,716$3,244$2,825$2,455$1,390
14 years$3,903$3,378$2,915$2,508$2,152$1,156
15 years$3,605$3,086$2,631$2,236$1,895$964
16 years$3,345$2,831$2,386$2,002$1,675$806
17 years$3,115$2,608$2,171$1,799$1,485$676
18 years$2,912$2,409$1,982$1,621$1,320$568
19 years$2,730$2,233$1,814$1,465$1,177$478
20 years$2,566$2,075$1,665$1,327$1,051$402
21 years$2,418$1,933$1,532$1,204$941$339
22 years$2,284$1,804$1,412$1,095$843$286
23 years$2,161$1,687$1,303$997$757$242
24 years$2,049$1,581$1,205$909$680$204
25 years$1,947$1,484$1,116$831$612$173
26 years$1,852$1,394$1,035$759$551$146
27 years$1,764$1,312$961$695$497$124
28 years$1,683$1,237$894$637$449$105
29 years$1,607$1,167$832$584$405$89
30 years$1,537$1,102$775$536$366$75
31 years$1,471$1,042$722$492$331$64
32 years$1,410$985$674$452$299$54
33 years$1,352$933$629$416$271$46
34 years$1,298$885$588$383$245$39
35 years$1,247$839$550$352$222$33
36 years$1,199$796$514$325$201$28
37 years$1,154$756$481$299$182$24
38 years$1,111$719$451$276$165$20
39 years$1,071$683$422$254$150$17
40 years$1,032$650$396$234$136$14
41 years$996$619$371$216$123$12
42 years$961$590$348$200$112$10
43 years$928$562$327$184$102$9
44 years$897$535$307$170$92$7
45 years$867$511$288$157$84$6
46 years$839$487$270$145$76$5
47 years$812$465$254$134$69$5
48 years$786$444$239$124$63$4
49 years$761$424$224$114$57$3
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 $6,817 every year, while hoping to spend $29,160 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: 36/45/19 Blend
61$755,000$755,000$755,000$755,000
62$839,042$799,027$787,324$864,190
63$893,598$807,153$782,674$891,235
64$952,742$814,700$776,890$917,189
65$1,016,910$821,609$769,904$944,601
66$1,086,583$827,817$761,645$973,618
67$1,162,291$833,256$752,036$1,004,404
68$1,244,614$837,855$740,999$1,037,139
69$1,334,193$841,538$728,451$1,072,026
70$1,431,732$844,225$714,305$1,109,289
71$1,538,006$845,829$698,471$1,149,176
72$1,653,867$846,259$680,854$1,191,966
73$1,780,254$845,418$661,355$1,237,965
74$1,918,199$843,203$639,870$1,287,513
75$2,068,841$839,505$616,291$1,340,989
76$2,233,430$834,208$590,504$1,398,813
77$2,413,344$827,189$562,390$1,461,450
78$2,610,101$818,317$531,826$1,529,415
79$2,825,371$807,454$498,682$1,603,282
80$3,060,993$794,453$462,822$1,683,684
81$3,318,992$779,160$424,105$1,771,324
82$3,601,600$761,409$382,383$1,866,979
83$3,911,272$741,027$337,501$1,971,512
84$4,250,713$717,828$289,299$2,085,878
85$4,622,902$691,619$237,607$2,211,132
86$5,031,122$662,191$182,250$2,348,446
87$5,478,985$629,327$123,045$2,499,113
88$5,970,473$592,796$59,798$2,664,566
89$6,509,971$552,352$0$2,846,390
90$7,102,308$507,738$0$3,047,899
91$7,752,806$458,680$0$3,282,510
92$8,467,326$404,889$0$3,540,277
93$9,252,324$346,059$0$3,823,616
94$10,114,914$281,869$0$4,135,196
95$11,062,932$211,978$0$4,477,966
96$12,105,012$136,025$0$4,855,180
97$13,250,663$53,631$0$5,270,432
98$14,510,366$0$0$5,727,689
99$15,895,665$0$0$6,248,962
100$17,419,279$0$0$6,851,610