Can I retire at age 62 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$57,805$57,290$56,788$56,298$55,819$55,053
2 years$28,617$28,084$27,567$27,066$26,580$25,810
3 years$18,888$18,353$17,838$17,342$16,864$16,113
4 years$14,025$13,491$12,981$12,494$12,027$11,302
5 years$11,108$10,577$10,074$9,596$9,143$8,445
6 years$9,164$8,637$8,141$7,674$7,235$6,565
7 years$7,776$7,254$6,765$6,309$5,884$5,242
8 years$6,735$6,218$5,738$5,293$4,881$4,268
9 years$5,926$5,414$4,942$4,508$4,111$3,526
10 years$5,279$4,772$4,308$3,886$3,502$2,946
11 years$4,750$4,248$3,793$3,382$3,012$2,483
12 years$4,310$3,813$3,366$2,967$2,610$2,107
13 years$3,938$3,446$3,008$2,619$2,276$1,799
14 years$3,619$3,132$2,702$2,325$1,995$1,543
15 years$3,343$2,861$2,440$2,073$1,757$1,329
16 years$3,101$2,625$2,212$1,857$1,553$1,149
17 years$2,889$2,418$2,013$1,668$1,377$996
18 years$2,700$2,234$1,837$1,503$1,224$865
19 years$2,531$2,070$1,682$1,358$1,091$753
20 years$2,379$1,924$1,544$1,230$975$657
21 years$2,242$1,792$1,420$1,117$872$574
22 years$2,117$1,673$1,309$1,015$782$502
23 years$2,004$1,565$1,208$925$702$439
24 years$1,900$1,466$1,118$843$631$385
25 years$1,805$1,376$1,035$770$568$338
26 years$1,717$1,293$960$704$511$296
27 years$1,635$1,217$891$645$461$260
28 years$1,560$1,147$829$591$416$229
29 years$1,490$1,082$771$542$376$201
30 years$1,425$1,021$718$497$339$177
31 years$1,364$966$670$456$307$156
32 years$1,307$914$625$419$278$137
33 years$1,254$865$583$386$251$121
34 years$1,203$820$545$355$227$106
35 years$1,156$778$510$327$206$94
36 years$1,112$738$477$301$187$83
37 years$1,070$701$446$277$169$73
38 years$1,030$666$418$256$153$64
39 years$993$634$391$236$139$57
40 years$957$603$367$217$126$50
41 years$923$574$344$201$114$44
42 years$891$547$323$185$104$39
43 years$861$521$303$171$94$34
44 years$832$496$284$158$86$30
45 years$804$473$267$146$78$27
46 years$778$452$251$135$70$24
47 years$753$431$236$124$64$21
48 years$728$411$221$115$58$18
49 years$705$393$208$106$53$16
50 years$683$375$196$98$48$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $700,000, adding $5,536 every year, while hoping to spend $39,889 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: 76/7/17 Blend
61$700,000$700,000$700,000$700,000
62$777,110$740,010$729,160$832,800
63$813,934$733,829$711,146$864,193
64$853,177$726,008$691,191$893,095
65$895,043$716,425$669,188$923,709
66$939,758$704,950$645,026$956,194
67$987,566$691,446$618,587$990,725
68$1,038,737$675,766$589,749$1,027,494
69$1,093,566$657,756$558,383$1,066,717
70$1,152,378$637,254$524,357$1,108,629
71$1,215,527$614,086$487,530$1,153,490
72$1,283,404$588,070$447,755$1,201,588
73$1,356,437$559,011$404,881$1,253,241
74$1,435,096$526,705$358,747$1,308,801
75$1,519,899$490,937$309,188$1,368,653
76$1,611,411$451,475$256,028$1,433,227
77$1,710,257$408,079$199,087$1,502,995
78$1,817,121$360,493$138,175$1,578,479
79$1,932,757$308,447$73,093$1,660,254
80$2,057,992$251,654$3,635$1,748,957
81$2,193,735$189,814$0$1,845,290
82$2,340,988$122,607$0$1,962,814
83$2,500,851$49,696$0$2,091,134
84$2,674,534$0$0$2,230,577
85$2,863,368$0$0$2,384,485
86$3,068,818$0$0$2,556,124
87$3,292,496$0$0$2,743,015
88$3,536,175$0$0$2,946,644
89$3,801,807$0$0$3,168,644
90$4,091,538$0$0$3,410,813
91$4,407,733$0$0$3,675,131
92$4,752,994$0$0$3,963,777
93$5,130,186$0$0$4,279,148
94$5,542,461$0$0$4,623,886
95$5,993,291$0$0$5,000,897
96$6,486,500$0$0$5,413,383
97$7,026,295$0$0$5,864,868
98$7,617,312$0$0$6,359,233
99$8,264,655$0$0$6,900,752
100$8,973,943$0$0$7,494,132