Can I retire at age 62 with 770,000?

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 $770,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$63,586$63,019$62,467$61,928$61,401$59,771
2 years$31,478$30,892$30,324$29,773$29,239$27,608
3 years$20,777$20,188$19,621$19,076$18,550$16,970
4 years$15,427$14,840$14,279$13,743$13,230$11,712
5 years$12,219$11,635$11,081$10,556$10,057$8,606
6 years$10,080$9,501$8,955$8,442$7,958$6,574
7 years$8,553$7,979$7,442$6,940$6,472$5,156
8 years$7,408$6,839$6,311$5,822$5,369$4,121
9 years$6,519$5,955$5,436$4,959$4,522$3,340
10 years$5,807$5,249$4,739$4,275$3,853$2,735
11 years$5,225$4,673$4,172$3,720$3,313$2,259
12 years$4,741$4,194$3,703$3,263$2,871$1,878
13 years$4,331$3,790$3,308$2,881$2,504$1,570
14 years$3,981$3,445$2,972$2,557$2,195$1,318
15 years$3,677$3,147$2,684$2,281$1,933$1,110
16 years$3,411$2,888$2,433$2,042$1,708$938
17 years$3,177$2,659$2,214$1,835$1,514$794
18 years$2,970$2,457$2,021$1,654$1,347$674
19 years$2,784$2,277$1,850$1,494$1,200$573
20 years$2,617$2,116$1,698$1,353$1,072$488
21 years$2,466$1,971$1,562$1,228$959$416
22 years$2,329$1,840$1,440$1,117$860$355
23 years$2,204$1,721$1,329$1,017$772$303
24 years$2,090$1,612$1,229$928$694$259
25 years$1,985$1,513$1,139$847$624$222
26 years$1,888$1,422$1,056$775$562$190
27 years$1,799$1,338$981$709$507$162
28 years$1,716$1,261$912$650$457$139
29 years$1,639$1,190$848$596$413$119
30 years$1,567$1,124$790$547$373$102
31 years$1,500$1,062$737$502$337$87
32 years$1,438$1,005$687$461$305$75
33 years$1,379$952$642$424$276$64
34 years$1,324$902$600$390$250$55
35 years$1,272$856$561$359$227$47
36 years$1,223$812$524$331$205$41
37 years$1,177$771$491$305$186$35
38 years$1,133$733$460$281$169$30
39 years$1,092$697$431$259$153$26
40 years$1,053$663$404$239$139$22
41 years$1,016$631$378$221$126$19
42 years$980$601$355$204$114$16
43 years$947$573$333$188$104$14
44 years$915$546$313$173$94$12
45 years$884$521$294$160$85$10
46 years$855$497$276$148$78$9
47 years$828$474$259$137$70$8
48 years$801$453$243$126$64$6
49 years$776$432$229$117$58$6
50 years$752$413$215$108$53$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $770,000, adding $6,022 every year, while hoping to spend $57,388 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: 58/30/12 Blend
61$770,000$770,000$770,000$770,000
62$854,752$813,942$802,007$901,452
63$880,876$792,764$767,814$912,483
64$907,742$768,626$730,551$917,587
65$935,363$741,321$690,057$921,781
66$963,756$710,631$646,160$924,986
67$992,934$676,327$598,681$927,116
68$1,022,911$638,165$547,434$928,080
69$1,053,699$595,886$492,224$927,781
70$1,085,311$549,219$432,849$926,117
71$1,117,757$497,875$369,094$922,977
72$1,151,048$441,551$300,738$918,244
73$1,185,192$379,924$227,550$911,795
74$1,220,196$312,655$149,287$903,496
75$1,256,065$239,383$65,697$893,208
76$1,292,802$159,732$0$880,779
77$1,330,407$73,298$0$869,061
78$1,368,879$0$0$864,046
79$1,408,213$0$0$863,884
80$1,448,399$0$0$888,429
81$1,489,425$0$0$913,476
82$1,531,275$0$0$939,012
83$1,573,927$0$0$965,022
84$1,617,352$0$0$991,487
85$1,661,517$0$0$1,018,384
86$1,706,382$0$0$1,045,687
87$1,751,898$0$0$1,073,363
88$1,798,008$0$0$1,101,374
89$1,844,645$0$0$1,129,675
90$1,891,731$0$0$1,158,216
91$1,939,176$0$0$1,186,937
92$1,986,876$0$0$1,215,771
93$2,034,714$0$0$1,244,641
94$2,082,555$0$0$1,273,459
95$2,130,244$0$0$1,302,125
96$2,177,609$0$0$1,330,527
97$2,224,453$0$0$1,358,536
98$2,270,554$0$0$1,386,010
99$2,315,662$0$0$1,412,786
100$2,359,497$0$0$1,438,684