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%14.4%
1 years$62,512$61,956$61,412$60,882$60,364$59,267
2 years$30,947$30,370$29,812$29,270$28,745$27,643
3 years$20,426$19,847$19,290$18,754$18,237$17,165
4 years$15,167$14,590$14,038$13,511$13,007$11,973
5 years$12,012$11,439$10,894$10,378$9,888$8,895
6 years$9,910$9,341$8,804$8,299$7,824$6,874
7 years$8,409$7,844$7,316$6,823$6,363$5,455
8 years$7,283$6,724$6,205$5,724$5,278$4,414
9 years$6,408$5,854$5,344$4,875$4,445$3,622
10 years$5,709$5,160$4,659$4,203$3,788$3,006
11 years$5,137$4,594$4,102$3,658$3,257$2,516
12 years$4,661$4,123$3,640$3,208$2,823$2,120
13 years$4,258$3,726$3,252$2,832$2,462$1,797
14 years$3,913$3,387$2,922$2,514$2,158$1,531
15 years$3,615$3,094$2,638$2,242$1,900$1,308
16 years$3,354$2,839$2,392$2,008$1,679$1,122
17 years$3,124$2,614$2,177$1,804$1,489$965
18 years$2,919$2,416$1,987$1,626$1,324$832
19 years$2,737$2,239$1,819$1,469$1,180$718
20 years$2,573$2,081$1,669$1,330$1,054$621
21 years$2,425$1,938$1,536$1,207$943$538
22 years$2,290$1,809$1,415$1,098$845$467
23 years$2,167$1,692$1,307$1,000$759$405
24 years$2,055$1,585$1,209$912$682$352
25 years$1,952$1,488$1,119$833$614$306
26 years$1,857$1,398$1,038$761$553$266
27 years$1,769$1,316$964$697$498$232
28 years$1,687$1,240$896$639$450$202
29 years$1,611$1,170$834$586$406$176
30 years$1,541$1,105$777$537$367$154
31 years$1,475$1,044$724$494$332$134
32 years$1,413$988$676$454$300$117
33 years$1,356$936$631$417$272$102
34 years$1,301$887$589$384$246$89
35 years$1,250$841$551$353$223$78
36 years$1,202$798$516$325$202$68
37 years$1,157$758$483$300$183$59
38 years$1,114$721$452$276$166$52
39 years$1,073$685$423$255$150$45
40 years$1,035$652$397$235$136$39
41 years$998$621$372$217$124$34
42 years$964$591$349$200$112$30
43 years$931$563$328$185$102$26
44 years$899$537$307$171$92$23
45 years$870$512$289$158$84$20
46 years$841$488$271$146$76$18
47 years$814$466$255$134$69$15
48 years$788$445$239$124$63$13
49 years$763$425$225$115$57$12
50 years$739$406$212$106$52$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $757,000, adding $2,465 every year, while hoping to spend $25,458 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: 55/17/28 Blend
61$757,000$757,000$757,000$757,000
62$836,757$796,636$784,902$876,170
63$895,019$808,584$784,109$915,570
64$958,370$820,264$782,437$955,630
65$1,027,304$831,636$779,828$998,748
66$1,102,360$842,658$776,224$1,045,230
67$1,184,136$853,284$771,562$1,095,409
68$1,273,287$863,464$765,779$1,149,657
69$1,370,536$873,147$758,805$1,208,381
70$1,476,675$882,276$750,571$1,272,033
71$1,592,581$890,792$741,000$1,341,111
72$1,719,216$898,633$730,015$1,416,165
73$1,857,640$905,729$717,534$1,497,800
74$2,009,019$912,010$703,471$1,586,688
75$2,174,639$917,399$687,738$1,683,567
76$2,355,914$921,813$670,239$1,789,252
77$2,554,402$925,167$650,877$1,904,645
78$2,771,819$927,368$629,549$2,030,740
79$3,010,054$928,318$606,148$2,168,632
80$3,271,187$927,913$580,562$2,319,532
81$3,557,510$926,043$552,673$2,484,775
82$3,871,547$922,590$522,358$2,665,834
83$4,216,078$917,430$489,490$2,864,336
84$4,594,164$910,431$453,934$3,082,074
85$5,009,179$901,451$415,551$3,321,027
86$5,464,836$890,344$374,193$3,583,377
87$5,965,230$876,951$329,709$3,871,533
88$6,514,868$861,106$281,939$4,188,151
89$7,118,716$842,632$230,715$4,536,163
90$7,782,246$821,342$175,865$4,918,800
91$8,511,484$797,037$117,205$5,339,627
92$9,313,071$769,507$54,548$5,802,578
93$10,194,323$738,532$0$6,311,990
94$11,163,299$703,875$0$6,876,325
95$12,228,879$665,288$0$7,514,811
96$13,400,846$622,509$0$8,217,015
97$14,689,979$575,259$0$8,989,421
98$16,108,155$523,244$0$9,839,174
99$17,668,458$466,155$0$10,774,148
100$19,385,307$403,662$0$11,803,024