Can I retire at age 62 with 757,000?

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 $757,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$62,512$61,956$61,412$60,882$60,364$58,644
2 years$30,947$30,370$29,812$29,270$28,745$27,025
3 years$20,426$19,847$19,290$18,754$18,237$16,571
4 years$15,167$14,590$14,038$13,511$13,007$11,408
5 years$12,012$11,439$10,894$10,378$9,888$8,360
6 years$9,910$9,341$8,804$8,299$7,824$6,370
7 years$8,409$7,844$7,316$6,823$6,363$4,982
8 years$7,283$6,724$6,205$5,724$5,278$3,970
9 years$6,408$5,854$5,344$4,875$4,445$3,207
10 years$5,709$5,160$4,659$4,203$3,788$2,619
11 years$5,137$4,594$4,102$3,658$3,257$2,156
12 years$4,661$4,123$3,640$3,208$2,823$1,787
13 years$4,258$3,726$3,252$2,832$2,462$1,488
14 years$3,913$3,387$2,922$2,514$2,158$1,245
15 years$3,615$3,094$2,638$2,242$1,900$1,045
16 years$3,354$2,839$2,392$2,008$1,679$880
17 years$3,124$2,614$2,177$1,804$1,489$743
18 years$2,919$2,416$1,987$1,626$1,324$628
19 years$2,737$2,239$1,819$1,469$1,180$532
20 years$2,573$2,081$1,669$1,330$1,054$451
21 years$2,425$1,938$1,536$1,207$943$383
22 years$2,290$1,809$1,415$1,098$845$325
23 years$2,167$1,692$1,307$1,000$759$277
24 years$2,055$1,585$1,209$912$682$236
25 years$1,952$1,488$1,119$833$614$201
26 years$1,857$1,398$1,038$761$553$171
27 years$1,769$1,316$964$697$498$146
28 years$1,687$1,240$896$639$450$124
29 years$1,611$1,170$834$586$406$106
30 years$1,541$1,105$777$537$367$91
31 years$1,475$1,044$724$494$332$77
32 years$1,413$988$676$454$300$66
33 years$1,356$936$631$417$272$56
34 years$1,301$887$589$384$246$48
35 years$1,250$841$551$353$223$41
36 years$1,202$798$516$325$202$35
37 years$1,157$758$483$300$183$30
38 years$1,114$721$452$276$166$26
39 years$1,073$685$423$255$150$22
40 years$1,035$652$397$235$136$19
41 years$998$621$372$217$124$16
42 years$964$591$349$200$112$14
43 years$931$563$328$185$102$12
44 years$899$537$307$171$92$10
45 years$870$512$289$158$84$9
46 years$841$488$271$146$76$7
47 years$814$466$255$134$69$6
48 years$788$445$239$124$63$5
49 years$763$425$225$115$57$5
50 years$739$406$212$106$52$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $757,000, adding $6,088 every year, while hoping to spend $29,926 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: 72/5/23 Blend
61$757,000$757,000$757,000$757,000
62$840,494$800,373$788,639$895,799
63$894,383$807,750$783,218$940,842
64$952,766$814,486$776,611$986,033
65$1,016,070$820,517$768,749$1,034,794
66$1,084,763$825,776$759,557$1,087,478
67$1,159,362$830,193$748,955$1,144,472
68$1,240,435$833,690$736,863$1,206,202
69$1,328,606$836,188$723,195$1,273,141
70$1,424,563$837,600$707,860$1,345,806
71$1,529,061$837,834$690,766$1,424,772
72$1,642,932$836,795$671,814$1,510,670
73$1,767,092$834,379$650,901$1,604,196
74$1,902,548$830,477$627,919$1,706,120
75$2,050,411$824,973$602,757$1,817,288
76$2,211,900$817,744$575,297$1,938,635
77$2,388,360$808,660$545,415$2,071,192
78$2,581,271$797,582$512,985$2,216,094
79$2,792,261$784,365$477,870$2,374,596
80$3,023,125$768,852$439,933$2,548,079
81$3,275,838$750,880$399,024$2,738,067
82$3,552,575$730,274$354,993$2,946,240
83$3,855,731$706,851$307,678$3,174,451
84$4,187,944$680,414$256,914$3,424,745
85$4,552,118$650,759$202,525$3,699,372
86$4,951,454$617,666$144,329$4,000,818
87$5,389,476$580,905$82,138$4,331,822
88$5,870,064$540,231$15,751$4,695,403
89$6,397,495$495,387$0$5,094,890
90$6,976,477$446,098$0$5,547,477
91$7,612,198$392,077$0$6,048,693
92$8,310,372$333,019$0$6,599,186
93$9,077,294$268,602$0$7,203,934
94$9,919,900$198,485$0$7,868,422
95$10,845,828$122,308$0$8,598,690
96$11,863,494$39,694$0$9,401,398
97$12,982,172$0$0$10,283,879
98$14,212,075$0$0$11,256,955
99$15,564,459$0$0$12,329,377
100$17,051,723$0$0$13,508,799