Can I retire at age 62 with 768,000?

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 $768,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$63,421$62,856$62,305$61,767$61,241$60,451
2 years$31,396$30,812$30,245$29,696$29,163$28,367
3 years$20,723$20,136$19,571$19,026$18,502$17,727
4 years$15,387$14,802$14,242$13,707$13,196$12,446
5 years$12,187$11,605$11,053$10,529$10,031$9,310
6 years$10,054$9,476$8,932$8,420$7,937$7,245
7 years$8,531$7,958$7,423$6,922$6,455$5,792
8 years$7,389$6,822$6,295$5,807$5,355$4,721
9 years$6,502$5,939$5,422$4,946$4,510$3,905
10 years$5,792$5,235$4,727$4,264$3,843$3,266
11 years$5,212$4,661$4,162$3,711$3,305$2,756
12 years$4,729$4,183$3,693$3,255$2,864$2,342
13 years$4,320$3,780$3,300$2,873$2,497$2,002
14 years$3,970$3,436$2,965$2,551$2,189$1,720
15 years$3,667$3,139$2,677$2,275$1,927$1,484
16 years$3,403$2,880$2,427$2,037$1,704$1,284
17 years$3,169$2,652$2,208$1,830$1,510$1,114
18 years$2,962$2,451$2,016$1,649$1,343$969
19 years$2,777$2,272$1,846$1,490$1,197$845
20 years$2,610$2,111$1,694$1,350$1,069$738
21 years$2,460$1,966$1,558$1,225$957$646
22 years$2,323$1,835$1,436$1,114$858$566
23 years$2,199$1,717$1,326$1,014$770$496
24 years$2,085$1,608$1,226$925$692$435
25 years$1,980$1,509$1,136$845$623$382
26 years$1,884$1,418$1,053$773$561$336
27 years$1,794$1,335$978$707$506$296
28 years$1,712$1,258$909$648$456$260
29 years$1,635$1,187$846$594$412$229
30 years$1,563$1,121$788$545$372$202
31 years$1,496$1,059$735$501$337$178
32 years$1,434$1,002$685$460$304$157
33 years$1,375$949$640$423$276$139
34 years$1,320$900$598$389$249$122
35 years$1,269$853$559$358$226$108
36 years$1,220$810$523$330$205$95
37 years$1,174$769$490$304$186$84
38 years$1,130$731$458$280$168$74
39 years$1,089$695$430$259$153$66
40 years$1,050$661$403$238$138$58
41 years$1,013$630$377$220$126$51
42 years$978$600$354$203$114$45
43 years$944$571$332$187$103$40
44 years$912$545$312$173$94$35
45 years$882$519$293$160$85$31
46 years$853$495$275$148$77$28
47 years$826$473$258$136$70$24
48 years$799$451$243$126$64$22
49 years$774$431$228$116$58$19
50 years$750$412$215$108$53$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $768,000, adding $3,928 every year, while hoping to spend $42,181 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: 65/12/23 Blend
61$768,000$768,000$768,000$768,000
62$850,388$809,684$797,780$900,368
63$892,247$804,478$779,625$929,290
64$936,962$797,603$759,449$955,771
65$984,780$788,934$737,138$983,745
66$1,035,971$778,335$712,576$1,013,361
67$1,090,832$765,665$685,639$1,044,784
68$1,149,689$750,775$656,199$1,078,198
69$1,212,898$733,503$624,123$1,113,808
70$1,280,851$713,683$589,268$1,151,839
71$1,353,979$691,134$551,490$1,192,542
72$1,432,754$665,669$510,635$1,236,196
73$1,517,696$637,088$466,541$1,283,110
74$1,609,374$605,178$419,043$1,333,626
75$1,708,414$569,716$367,965$1,388,122
76$1,815,505$530,465$313,125$1,447,018
77$1,931,404$487,175$254,332$1,510,781
78$2,056,942$439,582$191,387$1,579,925
79$2,193,034$387,405$124,083$1,655,021
80$2,340,685$330,349$52,201$1,736,700
81$2,501,002$268,103$0$1,825,662
82$2,675,200$200,336$0$1,928,696
83$2,864,618$126,700$0$2,054,704
84$3,070,727$46,827$0$2,191,871
85$3,295,149$0$0$2,341,308
86$3,539,664$0$0$2,509,477
87$3,806,234$0$0$2,699,603
88$4,097,019$0$0$2,907,048
89$4,414,395$0$0$3,133,513
90$4,760,976$0$0$3,380,871
91$5,139,642$0$0$3,651,183
92$5,553,563$0$0$3,946,719
93$6,006,230$0$0$4,269,978
94$6,501,483$0$0$4,623,711
95$7,043,555$0$0$5,010,948
96$7,637,104$0$0$5,435,025
97$8,287,261$0$0$5,899,616
98$8,999,675$0$0$6,408,768
99$9,780,571$0$0$6,966,935
100$10,636,799$0$0$7,579,027