Can I retire at age 62 with 731,000?

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 $731,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$60,365$59,828$59,303$58,791$58,291$57,851
2 years$29,884$29,327$28,788$28,265$27,758$27,314
3 years$19,725$19,166$18,628$18,110$17,611$17,177
4 years$14,646$14,089$13,556$13,047$12,560$12,140
5 years$11,600$11,046$10,520$10,021$9,548$9,143
6 years$9,569$9,020$8,502$8,014$7,555$7,165
7 years$8,120$7,575$7,065$6,589$6,144$5,769
8 years$7,033$6,493$5,992$5,527$5,097$4,738
9 years$6,188$5,653$5,161$4,708$4,293$3,949
10 years$5,513$4,983$4,499$4,058$3,657$3,329
11 years$4,961$4,436$3,961$3,532$3,146$2,832
12 years$4,501$3,982$3,515$3,098$2,726$2,426
13 years$4,112$3,598$3,141$2,735$2,377$2,092
14 years$3,779$3,271$2,822$2,428$2,084$1,812
15 years$3,491$2,988$2,548$2,165$1,835$1,577
16 years$3,239$2,741$2,310$1,939$1,621$1,377
17 years$3,016$2,525$2,102$1,742$1,438$1,206
18 years$2,819$2,333$1,919$1,570$1,278$1,059
19 years$2,643$2,162$1,757$1,418$1,139$932
20 years$2,484$2,009$1,612$1,285$1,018$822
21 years$2,341$1,871$1,483$1,166$911$726
22 years$2,211$1,747$1,367$1,060$816$642
23 years$2,093$1,634$1,262$965$733$569
24 years$1,984$1,531$1,167$881$659$504
25 years$1,885$1,437$1,081$804$593$447
26 years$1,793$1,350$1,002$735$534$397
27 years$1,708$1,271$931$673$481$353
28 years$1,629$1,197$865$617$434$314
29 years$1,556$1,130$805$565$392$280
30 years$1,488$1,067$750$519$354$249
31 years$1,424$1,008$699$477$320$222
32 years$1,365$954$652$438$290$198
33 years$1,309$904$609$403$262$176
34 years$1,257$856$569$371$237$157
35 years$1,207$812$532$341$215$140
36 years$1,161$771$498$314$195$125
37 years$1,117$732$466$290$177$112
38 years$1,076$696$436$267$160$100
39 years$1,037$662$409$246$145$89
40 years$999$630$383$227$132$80
41 years$964$599$359$209$119$71
42 years$931$571$337$193$108$64
43 years$899$544$316$178$98$57
44 years$869$518$297$165$89$51
45 years$840$494$279$152$81$45
46 years$812$472$262$141$74$41
47 years$786$450$246$130$67$36
48 years$761$430$231$120$61$32
49 years$737$410$217$111$55$29
50 years$714$392$204$102$50$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $731,000, adding $2,319 every year, while hoping to spend $35,467 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: 32/40/28 Blend
61$731,000$731,000$731,000$731,000
62$807,954$769,211$757,881$826,846
63$852,629$769,166$745,533$841,481
64$900,672$767,930$731,583$853,940
65$952,389$765,407$715,940$866,668
66$1,008,116$761,495$698,507$879,712
67$1,068,223$756,088$679,186$893,128
68$1,133,115$749,070$657,873$906,982
69$1,203,238$740,319$634,457$921,348
70$1,279,082$729,708$608,825$936,312
71$1,361,185$717,101$580,857$951,972
72$1,450,139$702,352$550,429$968,441
73$1,546,595$685,309$517,410$985,846
74$1,651,269$665,810$481,664$1,004,332
75$1,764,947$643,683$443,048$1,024,063
76$1,888,495$618,748$401,414$1,045,227
77$2,022,867$590,812$356,607$1,068,033
78$2,169,110$559,672$308,463$1,092,719
79$2,328,376$525,113$256,814$1,119,552
80$2,501,935$486,908$201,482$1,148,834
81$2,691,184$444,817$142,283$1,180,902
82$2,897,658$398,587$79,023$1,216,137
83$3,123,049$347,948$11,501$1,254,963
84$3,369,221$292,618$0$1,297,859
85$3,638,222$232,297$0$1,363,450
86$3,932,309$166,668$0$1,439,083
87$4,253,967$95,397$0$1,522,055
88$4,605,932$18,132$0$1,613,182
89$4,991,216$0$0$1,713,368
90$5,413,137$0$0$1,852,450
91$5,875,348$0$0$2,013,666
92$6,381,871$0$0$2,190,453
93$6,937,138$0$0$2,384,370
94$7,546,028$0$0$2,597,138
95$8,213,916$0$0$2,830,649
96$8,946,721$0$0$3,086,990
97$9,750,965$0$0$3,368,457
98$10,633,829$0$0$3,677,581
99$11,603,226$0$0$4,017,151
100$12,667,870$0$0$4,390,237