Can I retire at age 62 with 756,000?

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 $756,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$62,430$61,874$61,331$60,802$60,285$57,938
2 years$30,906$30,330$29,772$29,232$28,707$26,372
3 years$20,399$19,821$19,265$18,729$18,213$15,962
4 years$15,147$14,571$14,020$13,493$12,990$10,840
5 years$11,996$11,424$10,880$10,364$9,874$7,832
6 years$9,897$9,328$8,793$8,288$7,813$5,879
7 years$8,398$7,834$7,307$6,814$6,354$4,528
8 years$7,274$6,715$6,197$5,716$5,272$3,551
9 years$6,400$5,847$5,337$4,869$4,439$2,822
10 years$5,701$5,154$4,653$4,197$3,783$2,265
11 years$5,130$4,588$4,096$3,653$3,253$1,833
12 years$4,655$4,118$3,636$3,204$2,819$1,492
13 years$4,253$3,721$3,248$2,829$2,458$1,220
14 years$3,908$3,383$2,918$2,511$2,155$1,001
15 years$3,610$3,090$2,635$2,239$1,897$825
16 years$3,349$2,835$2,389$2,005$1,677$681
17 years$3,120$2,611$2,174$1,802$1,487$563
18 years$2,916$2,413$1,984$1,624$1,322$467
19 years$2,733$2,236$1,817$1,467$1,178$387
20 years$2,569$2,078$1,667$1,329$1,053$322
21 years$2,421$1,935$1,534$1,206$942$268
22 years$2,287$1,807$1,413$1,096$844$223
23 years$2,164$1,690$1,305$998$758$185
24 years$2,052$1,583$1,207$911$681$155
25 years$1,949$1,486$1,118$832$613$129
26 years$1,854$1,396$1,037$760$552$107
27 years$1,766$1,314$963$696$498$90
28 years$1,685$1,238$895$638$449$75
29 years$1,609$1,168$833$585$406$62
30 years$1,539$1,103$776$537$366$52
31 years$1,473$1,043$723$493$331$43
32 years$1,412$987$675$453$300$36
33 years$1,354$935$630$417$271$30
34 years$1,300$886$589$383$246$25
35 years$1,249$840$550$353$222$21
36 years$1,201$797$515$325$202$18
37 years$1,155$757$482$299$183$15
38 years$1,113$720$451$276$166$12
39 years$1,072$684$423$254$150$10
40 years$1,034$651$396$235$136$9
41 years$997$620$372$217$124$7
42 years$962$590$349$200$112$6
43 years$930$562$327$184$102$5
44 years$898$536$307$170$92$4
45 years$868$511$288$157$84$3
46 years$840$488$271$145$76$3
47 years$813$465$254$134$69$2
48 years$787$444$239$124$63$2
49 years$762$424$225$115$57$2
50 years$738$405$211$106$52$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $756,000, adding $3,586 every year, while hoping to spend $31,595 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: 79/14/7 Blend
61$756,000$756,000$756,000$756,000
62$836,811$796,743$785,025$901,981
63$888,549$802,167$777,706$950,640
64$944,505$806,797$769,084$999,506
65$1,005,077$810,562$759,080$1,052,166
66$1,070,700$813,385$747,615$1,108,982
67$1,141,854$815,184$734,603$1,170,355
68$1,219,067$815,872$719,956$1,236,724
69$1,302,920$815,357$703,582$1,308,576
70$1,394,050$813,542$685,385$1,386,443
71$1,493,160$810,322$665,262$1,470,915
72$1,601,021$805,587$643,107$1,562,641
73$1,718,485$799,221$618,811$1,662,336
74$1,846,486$791,098$592,257$1,770,787
75$1,986,054$781,088$563,323$1,888,862
76$2,138,321$769,051$531,884$2,017,519
77$2,304,535$754,839$497,807$2,157,811
78$2,486,067$738,297$460,954$2,310,901
79$2,684,430$719,257$421,180$2,478,069
80$2,901,287$697,546$378,334$2,660,728
81$3,138,469$672,976$332,259$2,860,434
82$3,397,993$645,352$282,790$3,078,900
83$3,682,079$614,465$229,755$3,318,019
84$3,993,173$580,096$172,974$3,579,873
85$4,333,968$542,012$112,259$3,866,759
86$4,707,429$499,967$47,416$4,181,208
87$5,116,822$453,700$0$4,526,012
88$5,565,743$402,937$0$4,905,873
89$6,058,156$347,388$0$5,326,440
90$6,598,423$286,745$0$5,787,921
91$7,191,350$220,684$0$6,294,452
92$7,842,233$148,862$0$6,850,594
93$8,556,902$70,918$0$7,461,370
94$9,341,783$0$0$8,132,316
95$10,203,953$0$0$8,871,620
96$11,151,206$0$0$9,695,910
97$12,192,133$0$0$10,601,739
98$13,336,195$0$0$11,597,342
99$14,593,815$0$0$12,691,796
100$15,976,479$0$0$13,895,097