Can I retire at age 62 with 732,000?

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 $732,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$60,448$59,909$59,384$58,871$58,371$58,076
2 years$29,925$29,367$28,827$28,304$27,796$27,498
3 years$19,752$19,192$18,653$18,134$17,635$17,344
4 years$14,666$14,108$13,575$13,065$12,577$12,295
5 years$11,616$11,061$10,535$10,035$9,561$9,288
6 years$9,583$9,032$8,513$8,025$7,565$7,302
7 years$8,131$7,585$7,075$6,598$6,153$5,900
8 years$7,043$6,502$6,000$5,535$5,104$4,861
9 years$6,197$5,661$5,168$4,714$4,298$4,066
10 years$5,520$4,990$4,505$4,064$3,662$3,440
11 years$4,967$4,442$3,966$3,537$3,150$2,937
12 years$4,507$3,987$3,520$3,102$2,730$2,526
13 years$4,118$3,603$3,145$2,739$2,380$2,186
14 years$3,784$3,275$2,826$2,431$2,087$1,902
15 years$3,495$2,992$2,551$2,168$1,837$1,661
16 years$3,243$2,745$2,313$1,941$1,624$1,456
17 years$3,021$2,528$2,105$1,744$1,440$1,281
18 years$2,823$2,336$1,921$1,572$1,280$1,129
19 years$2,647$2,165$1,759$1,420$1,141$998
20 years$2,488$2,012$1,614$1,286$1,019$884
21 years$2,344$1,874$1,485$1,168$912$784
22 years$2,214$1,749$1,369$1,062$817$697
23 years$2,096$1,636$1,264$967$734$620
24 years$1,987$1,533$1,169$882$660$552
25 years$1,887$1,439$1,082$805$594$492
26 years$1,795$1,352$1,004$736$535$439
27 years$1,710$1,272$932$674$482$392
28 years$1,631$1,199$867$617$435$351
29 years$1,558$1,131$806$566$393$314
30 years$1,490$1,068$751$520$355$281
31 years$1,426$1,010$700$477$321$251
32 years$1,367$955$653$439$290$225
33 years$1,311$905$610$403$263$202
34 years$1,258$858$570$371$238$181
35 years$1,209$813$533$342$215$162
36 years$1,163$772$499$315$195$146
37 years$1,119$733$467$290$177$131
38 years$1,077$697$437$267$160$117
39 years$1,038$663$409$246$145$105
40 years$1,001$630$384$227$132$94
41 years$965$600$360$210$120$85
42 years$932$572$338$194$109$76
43 years$900$545$317$179$99$68
44 years$870$519$297$165$89$61
45 years$841$495$279$152$81$55
46 years$813$472$262$141$74$50
47 years$787$451$246$130$67$45
48 years$762$430$231$120$61$40
49 years$738$411$218$111$55$36
50 years$715$392$205$103$50$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $732,000, adding $6,861 every year, while hoping to spend $47,259 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: 53/26/21 Blend
61$732,000$732,000$732,000$732,000
62$813,741$774,945$763,599$851,837
63$846,460$762,634$738,896$866,463
64$880,931$748,136$711,782$876,875
65$917,285$731,294$682,126$887,198
66$955,662$711,941$649,791$897,441
67$996,215$689,902$614,635$907,613
68$1,039,111$664,989$576,507$917,730
69$1,084,533$637,006$535,253$927,810
70$1,132,681$605,744$490,709$937,878
71$1,183,771$570,983$442,704$947,963
72$1,238,042$532,488$391,062$958,104
73$1,295,756$490,013$335,595$968,344
74$1,357,196$443,296$276,111$978,736
75$1,422,675$392,063$212,406$989,345
76$1,492,535$336,021$144,268$1,000,244
77$1,567,150$274,863$71,478$1,011,520
78$1,646,931$208,263$0$1,023,275
79$1,732,327$135,877$0$1,037,015
80$1,823,833$57,343$0$1,068,668
81$1,921,988$0$0$1,102,411
82$2,027,387$0$0$1,146,413
83$2,140,681$0$0$1,211,396
84$2,262,586$0$0$1,281,371
85$2,393,887$0$0$1,356,795
86$2,535,448$0$0$1,438,172
87$2,688,215$0$0$1,526,052
88$2,853,230$0$0$1,621,044
89$3,031,638$0$0$1,723,814
90$3,224,695$0$0$1,835,096
91$3,433,786$0$0$1,955,695
92$3,660,428$0$0$2,086,498
93$3,906,295$0$0$2,228,479
94$4,173,224$0$0$2,382,712
95$4,463,237$0$0$2,550,373
96$4,778,558$0$0$2,732,763
97$5,121,634$0$0$2,931,306
98$5,495,157$0$0$3,147,575
99$5,902,090$0$0$3,383,298
100$6,345,693$0$0$3,640,376