Can I retire at age 62 with 758,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%13.9%
1 years$62,595$62,037$61,493$60,962$60,444$59,467
2 years$30,988$30,410$29,851$29,309$28,783$27,801
3 years$20,453$19,874$19,316$18,778$18,261$17,305
4 years$15,187$14,609$14,057$13,529$13,024$12,102
5 years$12,028$11,454$10,909$10,391$9,901$9,014
6 years$9,923$9,353$8,816$8,310$7,834$6,985
7 years$8,420$7,855$7,326$6,832$6,371$5,559
8 years$7,293$6,733$6,213$5,731$5,285$4,510
9 years$6,417$5,862$5,351$4,882$4,451$3,713
10 years$5,717$5,167$4,665$4,208$3,793$3,090
11 years$5,144$4,600$4,107$3,662$3,262$2,595
12 years$4,667$4,129$3,645$3,212$2,827$2,194
13 years$4,264$3,731$3,257$2,836$2,465$1,866
14 years$3,919$3,392$2,926$2,518$2,161$1,594
15 years$3,620$3,098$2,642$2,245$1,902$1,367
16 years$3,358$2,843$2,395$2,010$1,681$1,177
17 years$3,128$2,618$2,180$1,806$1,491$1,016
18 years$2,923$2,419$1,990$1,628$1,326$878
19 years$2,741$2,242$1,821$1,471$1,181$761
20 years$2,576$2,083$1,672$1,332$1,055$661
21 years$2,428$1,941$1,538$1,209$944$575
22 years$2,293$1,811$1,417$1,099$847$500
23 years$2,170$1,694$1,308$1,001$760$436
24 years$2,058$1,587$1,210$913$683$380
25 years$1,954$1,490$1,121$834$615$332
26 years$1,859$1,400$1,040$762$554$290
27 years$1,771$1,318$965$698$499$254
28 years$1,689$1,242$897$639$450$222
29 years$1,614$1,171$835$586$407$194
30 years$1,543$1,106$778$538$367$170
31 years$1,477$1,046$725$494$332$149
32 years$1,415$989$677$454$301$130
33 years$1,357$937$632$418$272$114
34 years$1,303$888$590$384$246$100
35 years$1,252$842$552$354$223$88
36 years$1,204$799$516$326$202$77
37 years$1,158$759$483$300$183$68
38 years$1,115$722$452$277$166$59
39 years$1,075$686$424$255$151$52
40 years$1,036$653$397$235$137$46
41 years$1,000$621$373$217$124$40
42 years$965$592$349$200$112$35
43 years$932$564$328$185$102$31
44 years$901$538$308$171$93$27
45 years$871$513$289$158$84$24
46 years$842$489$271$146$76$21
47 years$815$467$255$135$69$18
48 years$789$445$240$124$63$16
49 years$764$425$225$115$57$14
50 years$740$406$212$106$52$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $758,000, adding $5,309 every year, while hoping to spend $35,330 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: 29/42/29 Blend
61$758,000$758,000$758,000$758,000
62$840,792$800,618$788,869$857,545
63$888,962$802,258$777,706$872,894
64$940,861$802,793$764,984$885,974
65$996,833$802,134$750,614$899,337
66$1,057,254$800,182$734,504$913,033
67$1,122,538$796,835$716,554$927,120
68$1,193,140$791,984$696,662$941,664
69$1,269,561$785,512$674,721$956,742
70$1,352,351$777,297$650,619$972,442
71$1,442,114$767,208$624,238$988,865
72$1,539,516$755,107$595,456$1,006,126
73$1,645,287$740,847$564,144$1,024,355
74$1,760,232$724,275$530,169$1,043,701
75$1,885,236$705,225$493,390$1,064,333
76$2,021,273$683,523$453,660$1,086,442
77$2,169,413$658,986$410,828$1,110,243
78$2,330,835$631,418$364,733$1,135,978
79$2,506,837$600,614$315,208$1,163,923
80$2,698,846$566,356$262,080$1,194,385
81$2,908,434$528,413$205,165$1,227,710
82$3,137,330$486,542$144,274$1,264,287
83$3,387,440$440,484$79,209$1,304,552
84$3,660,858$389,968$9,762$1,348,992
85$3,959,895$334,705$0$1,398,154
86$4,287,090$274,391$0$1,472,560
87$4,645,243$208,706$0$1,557,500
88$5,037,434$137,309$0$1,650,783
89$5,467,058$59,843$0$1,753,335
90$5,937,852$0$0$1,866,185
91$6,453,931$0$0$2,001,594
92$7,019,828$0$0$2,180,523
93$7,640,536$0$0$2,376,909
94$8,321,554$0$0$2,592,505
95$9,068,938$0$0$2,829,247
96$9,889,362$0$0$3,089,264
97$10,790,173$0$0$3,374,904
98$11,779,468$0$0$3,688,750
99$12,866,165$0$0$4,033,651
100$14,060,089$0$0$4,412,744