Can I retire at age 62 with 774,000?

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 $774,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$63,916$63,347$62,791$62,249$61,720$60,179
2 years$31,642$31,052$30,481$29,928$29,390$27,848
3 years$20,885$20,293$19,723$19,175$18,646$17,150
4 years$15,508$14,918$14,354$13,814$13,299$11,861
5 years$12,282$11,696$11,139$10,611$10,110$8,733
6 years$10,132$9,550$9,002$8,486$7,999$6,686
7 years$8,597$8,020$7,481$6,976$6,506$5,256
8 years$7,447$6,875$6,344$5,852$5,397$4,211
9 years$6,552$5,986$5,464$4,985$4,545$3,421
10 years$5,837$5,276$4,764$4,297$3,873$2,809
11 years$5,253$4,697$4,194$3,740$3,331$2,326
12 years$4,766$4,216$3,722$3,280$2,886$1,939
13 years$4,354$3,810$3,325$2,896$2,517$1,625
14 years$4,001$3,463$2,988$2,571$2,206$1,368
15 years$3,696$3,164$2,698$2,293$1,943$1,155
16 years$3,429$2,903$2,446$2,053$1,717$979
17 years$3,194$2,673$2,226$1,844$1,522$832
18 years$2,985$2,470$2,032$1,662$1,354$708
19 years$2,798$2,289$1,860$1,502$1,206$604
20 years$2,631$2,127$1,707$1,360$1,078$515
21 years$2,479$1,981$1,570$1,235$964$441
22 years$2,341$1,850$1,447$1,122$864$377
23 years$2,216$1,730$1,336$1,022$776$323
24 years$2,101$1,621$1,236$932$697$277
25 years$1,995$1,521$1,144$851$628$238
26 years$1,898$1,430$1,061$779$565$204
27 years$1,808$1,345$986$713$510$175
28 years$1,725$1,268$916$653$460$151
29 years$1,648$1,196$853$599$415$129
30 years$1,576$1,129$794$550$375$111
31 years$1,508$1,068$740$505$339$96
32 years$1,445$1,010$691$464$307$82
33 years$1,386$957$645$427$278$71
34 years$1,331$907$603$392$251$61
35 years$1,278$860$563$361$228$52
36 years$1,229$816$527$333$206$45
37 years$1,183$775$493$307$187$39
38 years$1,139$737$462$283$170$33
39 years$1,098$701$433$261$154$29
40 years$1,058$667$406$240$139$25
41 years$1,021$635$380$222$127$21
42 years$985$604$357$205$115$18
43 years$952$576$335$189$104$16
44 years$920$549$314$174$95$14
45 years$889$523$295$161$86$12
46 years$860$499$277$149$78$10
47 years$832$476$260$137$71$9
48 years$805$455$245$127$64$7
49 years$780$434$230$117$58$6
50 years$756$415$216$108$53$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $774,000, adding $6,830 every year, while hoping to spend $20,583 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: 69/21/10 Blend
61$774,000$774,000$774,000$774,000
62$859,993$818,971$806,974$917,142
63$925,812$837,201$812,108$974,167
64$997,655$855,633$816,723$1,033,391
65$1,076,114$874,258$820,782$1,097,632
66$1,161,842$893,061$824,242$1,167,379
67$1,255,558$912,028$827,062$1,243,172
68$1,358,051$931,144$829,195$1,325,602
69$1,470,193$950,391$830,594$1,415,325
70$1,592,942$969,750$831,208$1,513,059
71$1,727,355$989,200$830,986$1,619,598
72$1,874,594$1,008,719$829,873$1,735,814
73$2,035,939$1,028,283$827,810$1,862,671
74$2,212,801$1,047,865$824,738$2,001,228
75$2,406,732$1,067,436$820,592$2,152,654
76$2,619,443$1,086,965$815,307$2,318,235
77$2,852,819$1,106,418$808,812$2,499,390
78$3,108,933$1,125,760$801,034$2,697,681
79$3,390,073$1,144,951$791,898$2,914,830
80$3,698,757$1,163,950$781,322$3,152,734
81$4,037,757$1,182,710$769,223$3,413,484
82$4,410,129$1,201,184$755,513$3,699,382
83$4,819,240$1,219,320$740,101$4,012,969
84$5,268,798$1,237,062$722,889$4,357,041
85$5,762,887$1,254,349$703,778$4,734,680
86$6,306,008$1,271,120$682,661$5,149,286
87$6,903,120$1,287,304$659,430$5,604,600
88$7,559,686$1,302,829$633,968$6,104,750
89$8,281,723$1,317,616$606,155$6,654,281
90$9,075,862$1,331,583$575,865$7,258,205
91$9,949,410$1,344,641$542,966$7,922,044
92$10,910,417$1,356,695$507,322$8,651,884
93$11,967,749$1,367,643$468,788$9,454,430
94$13,131,181$1,377,379$427,213$10,337,075
95$14,411,479$1,385,788$382,442$11,307,965
96$15,820,505$1,392,747$334,310$12,376,076
97$17,371,333$1,398,128$282,645$13,551,301
98$19,078,365$1,401,792$227,270$14,844,544
99$20,957,472$1,403,593$167,997$16,267,822
100$23,026,140$1,403,376$104,631$17,834,376