Can I retire at age 62 with 760,000?

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 $760,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$62,760$62,201$61,656$61,123$60,603$58,453
2 years$31,069$30,491$29,930$29,386$28,859$26,715
3 years$20,507$19,926$19,367$18,828$18,309$16,240
4 years$15,227$14,648$14,094$13,565$13,058$11,079
5 years$12,060$11,484$10,937$10,419$9,927$8,043
6 years$9,949$9,378$8,839$8,332$7,855$6,067
7 years$8,442$7,875$7,345$6,850$6,388$4,697
8 years$7,312$6,751$6,229$5,746$5,299$3,703
9 years$6,434$5,878$5,365$4,895$4,463$2,959
10 years$5,732$5,181$4,678$4,219$3,803$2,389
11 years$5,157$4,612$4,118$3,672$3,270$1,944
12 years$4,679$4,140$3,655$3,221$2,834$1,592
13 years$4,275$3,741$3,265$2,844$2,471$1,310
14 years$3,929$3,400$2,934$2,524$2,166$1,082
15 years$3,629$3,106$2,649$2,251$1,907$897
16 years$3,367$2,850$2,402$2,016$1,686$745
17 years$3,136$2,625$2,185$1,811$1,495$621
18 years$2,931$2,425$1,995$1,632$1,329$518
19 years$2,748$2,248$1,826$1,475$1,185$433
20 years$2,583$2,089$1,676$1,336$1,058$362
21 years$2,434$1,946$1,542$1,212$947$303
22 years$2,299$1,816$1,421$1,102$849$254
23 years$2,176$1,699$1,312$1,004$762$213
24 years$2,063$1,592$1,213$916$685$179
25 years$1,959$1,494$1,124$836$616$150
26 years$1,864$1,404$1,042$764$555$126
27 years$1,776$1,321$968$700$500$106
28 years$1,694$1,245$900$641$452$89
29 years$1,618$1,174$837$588$408$75
30 years$1,547$1,109$780$540$368$63
31 years$1,481$1,048$727$496$333$53
32 years$1,419$992$678$455$301$45
33 years$1,361$939$633$419$273$37
34 years$1,307$890$592$385$247$32
35 years$1,255$845$553$355$224$27
36 years$1,207$802$518$327$203$22
37 years$1,161$761$484$301$184$19
38 years$1,118$724$454$277$166$16
39 years$1,078$688$425$256$151$13
40 years$1,039$655$398$236$137$11
41 years$1,002$623$374$218$124$9
42 years$968$593$350$201$113$8
43 years$934$565$329$185$102$7
44 years$903$539$309$171$93$6
45 years$873$514$290$158$84$5
46 years$844$490$272$146$77$4
47 years$817$468$256$135$70$3
48 years$791$447$240$125$63$3
49 years$766$427$226$115$57$2
50 years$742$407$212$107$52$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $760,000, adding $3,723 every year, while hoping to spend $31,953 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: 65/16/19 Blend
61$760,000$760,000$760,000$760,000
62$841,360$801,080$789,300$891,801
63$893,181$806,335$781,744$931,365
64$949,217$810,777$772,864$970,592
65$1,009,864$814,332$762,581$1,012,699
66$1,075,557$816,921$750,815$1,057,971
67$1,146,776$818,462$737,479$1,106,720
68$1,224,047$818,867$722,484$1,159,290
69$1,307,948$818,040$705,736$1,216,062
70$1,399,118$815,883$687,138$1,277,456
71$1,498,256$812,289$666,585$1,343,937
72$1,606,134$807,148$643,971$1,416,017
73$1,723,600$800,338$619,185$1,494,262
74$1,851,587$791,734$592,107$1,579,295
75$1,991,122$781,203$562,616$1,671,807
76$2,143,336$768,601$530,583$1,772,558
77$2,309,474$753,780$495,875$1,882,388
78$2,490,904$736,578$458,350$2,002,224
79$2,689,134$716,829$417,863$2,133,089
80$2,905,825$694,353$374,261$2,276,112
81$3,142,804$668,961$327,384$2,432,539
82$3,402,084$640,454$277,065$2,603,746
83$3,685,879$608,619$223,129$2,791,250
84$3,996,631$573,233$165,396$2,996,725
85$4,337,024$534,059$103,674$3,222,020
86$4,710,019$490,846$37,766$3,469,172
87$5,118,875$443,331$0$3,740,431
88$5,567,179$391,233$0$4,044,882
89$6,058,884$334,257$0$4,387,258
90$6,598,345$272,090$0$4,762,962
91$7,190,357$204,404$0$5,175,373
92$7,840,202$130,848$0$5,628,216
93$8,553,699$51,056$0$6,125,596
94$9,337,257$0$0$6,672,040
95$10,197,937$0$0$7,278,761
96$11,143,517$0$0$7,955,261
97$12,182,566$0$0$8,698,686
98$13,324,524$0$0$9,515,798
99$14,579,791$0$0$10,414,046
100$15,959,824$0$0$11,401,636