Can I retire at age 62 with 758,000?

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 $758,000?

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$62,595$62,037$61,493$60,962$60,444$58,509
2 years$30,988$30,410$29,851$29,309$28,783$26,851
3 years$20,453$19,874$19,316$18,778$18,261$16,394
4 years$15,187$14,609$14,057$13,529$13,024$11,235
5 years$12,028$11,454$10,909$10,391$9,901$8,194
6 years$9,923$9,353$8,816$8,310$7,834$6,212
7 years$8,420$7,855$7,326$6,832$6,371$4,834
8 years$7,293$6,733$6,213$5,731$5,285$3,831
9 years$6,417$5,862$5,351$4,882$4,451$3,079
10 years$5,717$5,167$4,665$4,208$3,793$2,500
11 years$5,144$4,600$4,107$3,662$3,262$2,046
12 years$4,667$4,129$3,645$3,212$2,827$1,685
13 years$4,264$3,731$3,257$2,836$2,465$1,395
14 years$3,919$3,392$2,926$2,518$2,161$1,160
15 years$3,620$3,098$2,642$2,245$1,902$968
16 years$3,358$2,843$2,395$2,010$1,681$809
17 years$3,128$2,618$2,180$1,806$1,491$679
18 years$2,923$2,419$1,990$1,628$1,326$570
19 years$2,741$2,242$1,821$1,471$1,181$479
20 years$2,576$2,083$1,672$1,332$1,055$404
21 years$2,428$1,941$1,538$1,209$944$341
22 years$2,293$1,811$1,417$1,099$847$287
23 years$2,170$1,694$1,308$1,001$760$243
24 years$2,058$1,587$1,210$913$683$205
25 years$1,954$1,490$1,121$834$615$174
26 years$1,859$1,400$1,040$762$554$147
27 years$1,771$1,318$965$698$499$124
28 years$1,689$1,242$897$639$450$105
29 years$1,614$1,171$835$586$407$89
30 years$1,543$1,106$778$538$367$75
31 years$1,477$1,046$725$494$332$64
32 years$1,415$989$677$454$301$54
33 years$1,357$937$632$418$272$46
34 years$1,303$888$590$384$246$39
35 years$1,252$842$552$354$223$33
36 years$1,204$799$516$326$202$28
37 years$1,158$759$483$300$183$24
38 years$1,115$722$452$277$166$20
39 years$1,075$686$424$255$151$17
40 years$1,036$653$397$235$137$14
41 years$1,000$621$373$217$124$12
42 years$965$592$349$200$112$10
43 years$932$564$328$185$102$9
44 years$901$538$308$171$93$7
45 years$871$513$289$158$84$6
46 years$842$489$271$146$76$5
47 years$815$467$255$135$69$5
48 years$789$445$240$124$63$4
49 years$764$425$225$115$57$3
50 years$740$406$212$106$52$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $758,000, adding $4,060 every year, while hoping to spend $23,965 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: 63/24/13 Blend
61$758,000$758,000$758,000$758,000
62$839,504$799,330$787,581$889,552
63$899,635$812,998$788,466$937,245
64$965,096$826,534$788,578$986,179
65$1,036,405$839,903$787,865$1,039,023
66$1,114,134$853,074$786,274$1,096,157
67$1,198,909$866,008$783,748$1,158,001
68$1,291,422$878,667$780,227$1,225,016
69$1,392,433$891,008$775,651$1,297,712
70$1,502,780$902,986$769,955$1,376,650
71$1,623,385$914,553$763,069$1,462,448
72$1,755,262$925,658$754,923$1,555,789
73$1,899,528$936,245$745,443$1,657,424
74$2,057,414$946,255$734,550$1,768,183
75$2,230,275$955,627$722,162$1,888,979
76$2,419,603$964,292$708,194$2,020,820
77$2,627,039$972,179$692,555$2,164,816
78$2,854,395$979,213$675,153$2,322,192
79$3,103,661$985,313$655,889$2,494,299
80$3,377,034$990,393$634,661$2,682,623
81$3,676,930$994,360$611,360$2,888,806
82$4,006,011$997,118$585,875$3,114,657
83$4,367,211$998,564$558,089$3,362,171
84$4,763,759$998,586$527,878$3,633,546
85$5,199,215$997,070$495,114$3,931,205
86$5,677,499$993,890$459,664$4,257,823
87$6,202,928$988,915$421,387$4,616,344
88$6,780,260$982,005$380,137$5,010,016
89$7,414,736$973,013$335,761$5,442,422
90$8,112,130$961,781$288,100$5,917,508
91$8,878,802$948,143$236,986$6,439,626
92$9,721,761$931,923$182,246$7,013,574
93$10,648,726$912,933$123,698$7,644,641
94$11,668,206$890,977$61,151$8,338,657
95$12,789,572$865,844$0$9,102,051
96$14,023,151$837,312$0$9,942,684
97$15,380,319$805,148$0$10,876,693
98$16,873,613$769,101$0$11,904,228
99$18,516,845$728,910$0$13,034,811
100$20,325,233$684,297$0$14,278,939