Can I retire at age 62 with 759,000?

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 $759,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$62,678$62,119$61,575$61,043$60,524$58,822
2 years$31,028$30,451$29,891$29,348$28,821$27,119
3 years$20,480$19,900$19,341$18,803$18,285$16,637
4 years$15,207$14,628$14,075$13,547$13,041$11,459
5 years$12,044$11,469$10,923$10,405$9,914$8,402
6 years$9,936$9,365$8,827$8,321$7,844$6,405
7 years$8,431$7,865$7,336$6,841$6,380$5,012
8 years$7,303$6,742$6,221$5,739$5,292$3,996
9 years$6,425$5,870$5,358$4,888$4,457$3,231
10 years$5,724$5,174$4,672$4,214$3,798$2,640
11 years$5,151$4,606$4,113$3,667$3,266$2,175
12 years$4,673$4,134$3,650$3,217$2,830$1,803
13 years$4,269$3,736$3,261$2,840$2,468$1,503
14 years$3,924$3,396$2,930$2,521$2,163$1,258
15 years$3,624$3,102$2,645$2,248$1,905$1,057
16 years$3,363$2,846$2,398$2,013$1,684$891
17 years$3,132$2,621$2,182$1,809$1,493$752
18 years$2,927$2,422$1,992$1,630$1,327$636
19 years$2,744$2,245$1,824$1,473$1,183$539
20 years$2,580$2,086$1,674$1,334$1,057$458
21 years$2,431$1,943$1,540$1,211$946$389
22 years$2,296$1,814$1,419$1,101$848$331
23 years$2,173$1,696$1,310$1,002$761$282
24 years$2,060$1,589$1,212$914$684$240
25 years$1,957$1,492$1,122$835$615$205
26 years$1,861$1,402$1,041$763$554$175
27 years$1,773$1,319$967$699$500$149
28 years$1,692$1,243$899$640$451$127
29 years$1,616$1,173$836$587$407$109
30 years$1,545$1,108$779$539$368$93
31 years$1,479$1,047$726$495$333$79
32 years$1,417$991$677$455$301$68
33 years$1,359$938$633$418$272$58
34 years$1,305$889$591$385$247$49
35 years$1,254$843$553$354$223$42
36 years$1,205$801$517$326$202$36
37 years$1,160$760$484$301$183$31
38 years$1,117$723$453$277$166$26
39 years$1,076$687$424$255$151$23
40 years$1,038$654$398$236$137$19
41 years$1,001$622$373$217$124$17
42 years$966$593$350$201$113$14
43 years$933$565$328$185$102$12
44 years$902$538$308$171$93$10
45 years$872$513$289$158$84$9
46 years$843$490$272$146$76$8
47 years$816$467$255$135$69$6
48 years$790$446$240$125$63$6
49 years$765$426$226$115$57$5
50 years$741$407$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 $759,000, adding $5,673 every year, while hoping to spend $51,474 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: 77/8/15 Blend
61$759,000$759,000$759,000$759,000
62$842,270$802,043$790,278$904,008
63$873,413$786,575$761,985$930,053
64$906,008$768,624$731,018$951,556
65$940,148$748,014$697,234$973,714
66$975,935$724,558$660,483$996,575
67$1,013,479$698,060$620,608$1,020,193
68$1,052,899$668,310$577,444$1,044,625
69$1,094,326$635,088$530,819$1,069,937
70$1,137,900$598,160$480,554$1,096,202
71$1,183,775$557,279$426,462$1,123,500
72$1,232,118$512,184$368,346$1,151,921
73$1,283,111$462,598$306,003$1,181,564
74$1,336,954$408,231$239,220$1,212,542
75$1,393,861$348,773$167,772$1,244,977
76$1,454,071$283,898$91,428$1,279,006
77$1,517,839$213,262$9,944$1,314,782
78$1,585,449$136,502$0$1,352,475
79$1,657,208$53,234$0$1,404,599
80$1,733,453$0$0$1,461,537
81$1,814,552$0$0$1,525,223
82$1,900,908$0$0$1,598,043
83$1,992,962$0$0$1,675,684
84$2,091,198$0$0$1,758,555
85$2,196,145$0$0$1,847,106
86$2,308,384$0$0$1,941,827
87$2,428,550$0$0$2,043,260
88$2,557,341$0$0$2,151,995
89$2,695,523$0$0$2,268,680
90$2,843,936$0$0$2,394,029
91$3,003,501$0$0$2,528,823
92$3,175,231$0$0$2,673,920
93$3,360,236$0$0$2,830,262
94$3,559,737$0$0$2,998,884
95$3,775,076$0$0$3,180,924
96$4,007,724$0$0$3,377,631
97$4,259,302$0$0$3,590,377
98$4,531,589$0$0$3,820,673
99$4,826,541$0$0$4,070,178
100$5,146,309$0$0$4,340,716