Can I retire at age 62 with 720,000?

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 $720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$59,457$58,927$58,411$57,906$57,414$56,416
2 years$29,434$28,886$28,355$27,840$27,340$26,338
3 years$19,428$18,877$18,347$17,837$17,346$16,371
4 years$14,426$13,877$13,352$12,851$12,371$11,431
5 years$11,425$10,880$10,362$9,870$9,404$8,501
6 years$9,425$8,884$8,374$7,894$7,441$6,576
7 years$7,998$7,461$6,959$6,490$6,052$5,225
8 years$6,927$6,395$5,902$5,444$5,020$4,232
9 years$6,095$5,568$5,083$4,637$4,228$3,478
10 years$5,430$4,908$4,431$3,997$3,602$2,889
11 years$4,886$4,369$3,901$3,479$3,098$2,421
12 years$4,433$3,922$3,462$3,051$2,685$2,043
13 years$4,050$3,544$3,093$2,694$2,341$1,734
14 years$3,722$3,221$2,779$2,391$2,052$1,479
15 years$3,438$2,943$2,509$2,133$1,807$1,266
16 years$3,190$2,700$2,275$1,910$1,597$1,087
17 years$2,971$2,487$2,070$1,716$1,416$936
18 years$2,777$2,298$1,890$1,546$1,259$808
19 years$2,603$2,130$1,730$1,397$1,122$699
20 years$2,447$1,979$1,588$1,265$1,002$605
21 years$2,306$1,843$1,461$1,148$897$525
22 years$2,178$1,721$1,346$1,044$804$456
23 years$2,061$1,609$1,243$951$722$397
24 years$1,954$1,508$1,149$867$649$345
25 years$1,856$1,415$1,065$792$584$301
26 years$1,766$1,330$987$724$526$262
27 years$1,682$1,252$917$663$474$229
28 years$1,605$1,179$852$607$428$199
29 years$1,533$1,113$793$557$386$174
30 years$1,466$1,051$739$511$349$152
31 years$1,403$993$689$469$316$133
32 years$1,344$940$643$431$285$116
33 years$1,289$890$600$397$258$101
34 years$1,238$844$561$365$234$89
35 years$1,189$800$524$336$212$78
36 years$1,144$759$490$309$192$68
37 years$1,100$721$459$285$174$59
38 years$1,060$685$430$263$158$52
39 years$1,021$652$403$242$143$45
40 years$984$620$377$224$130$40
41 years$950$590$354$206$118$35
42 years$917$562$332$190$107$30
43 years$885$536$312$176$97$27
44 years$855$511$292$162$88$23
45 years$827$487$275$150$80$20
46 years$800$464$258$138$73$18
47 years$774$443$242$128$66$16
48 years$749$423$228$118$60$14
49 years$726$404$214$109$54$12
50 years$703$386$201$101$49$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $720,000, adding $4,864 every year, while hoping to spend $39,004 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: 56/39/5 Blend
61$720,000$720,000$720,000$720,000
62$798,457$760,297$749,137$842,110
63$838,400$756,052$732,733$867,799
64$881,109$750,291$714,473$890,957
65$926,827$742,900$694,252$915,207
66$975,817$733,755$671,963$940,655
67$1,028,369$722,728$647,492$967,422
68$1,084,801$709,681$620,722$995,641
69$1,145,463$694,467$591,529$1,025,463
70$1,210,738$676,934$559,783$1,057,055
71$1,281,047$656,917$525,349$1,090,602
72$1,356,852$634,244$488,086$1,126,312
73$1,438,661$608,732$447,847$1,164,416
74$1,527,032$580,187$404,477$1,205,171
75$1,622,578$548,405$357,816$1,248,864
76$1,725,973$513,169$307,695$1,295,814
77$1,837,958$474,250$253,938$1,346,374
78$1,959,347$431,406$196,363$1,400,940
79$2,091,036$384,381$134,777$1,459,949
80$2,234,011$332,904$68,980$1,523,889
81$2,389,354$276,690$0$1,593,301
82$2,558,257$215,438$0$1,668,852
83$2,742,032$148,827$0$1,755,074
84$2,942,122$76,522$0$1,849,036
85$3,160,113$0$0$1,951,572
86$3,397,753$0$0$2,064,394
87$3,656,964$0$0$2,223,338
88$3,939,863$0$0$2,396,867
89$4,248,780$0$0$2,586,418
90$4,586,278$0$0$2,793,574
91$4,955,181$0$0$3,020,075
92$5,358,596$0$0$3,267,838
93$5,799,946$0$0$3,538,974
94$6,283,000$0$0$3,835,807
95$6,811,906$0$0$4,160,896
96$7,391,234$0$0$4,517,060
97$8,026,015$0$0$4,907,404
98$8,721,791$0$0$5,335,345
99$9,484,666$0$0$5,804,648
100$10,321,362$0$0$6,319,461