Can I retire at age 62 with 734,000?

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 $734,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$60,613$60,073$59,546$59,032$58,530$58,161
2 years$30,006$29,448$28,906$28,381$27,872$27,499
3 years$19,806$19,244$18,704$18,184$17,683$17,319
4 years$14,706$14,147$13,612$13,100$12,612$12,259
5 years$11,647$11,091$10,563$10,062$9,587$9,247
6 years$9,609$9,057$8,537$8,047$7,586$7,258
7 years$8,153$7,606$7,094$6,616$6,169$5,854
8 years$7,062$6,520$6,016$5,550$5,118$4,816
9 years$6,214$5,676$5,182$4,727$4,310$4,020
10 years$5,536$5,004$4,518$4,075$3,672$3,395
11 years$4,981$4,454$3,977$3,546$3,158$2,894
12 years$4,519$3,998$3,530$3,111$2,737$2,484
13 years$4,129$3,613$3,154$2,746$2,387$2,146
14 years$3,794$3,284$2,834$2,438$2,092$1,863
15 years$3,505$3,000$2,558$2,174$1,842$1,624
16 years$3,252$2,753$2,319$1,947$1,628$1,421
17 years$3,029$2,535$2,111$1,749$1,444$1,247
18 years$2,831$2,342$1,927$1,576$1,284$1,097
19 years$2,654$2,171$1,764$1,424$1,144$968
20 years$2,495$2,017$1,619$1,290$1,022$855
21 years$2,351$1,879$1,489$1,171$914$757
22 years$2,220$1,754$1,372$1,064$820$671
23 years$2,101$1,641$1,267$969$736$596
24 years$1,992$1,537$1,172$884$661$529
25 years$1,892$1,442$1,085$807$595$471
26 years$1,800$1,356$1,007$738$536$419
27 years$1,715$1,276$935$676$483$374
28 years$1,636$1,202$869$619$436$333
29 years$1,563$1,134$809$568$394$297
30 years$1,494$1,071$753$521$356$265
31 years$1,430$1,013$702$479$322$237
32 years$1,370$958$655$440$291$212
33 years$1,314$907$612$404$263$189
34 years$1,262$860$572$372$238$169
35 years$1,212$816$534$343$216$152
36 years$1,166$774$500$316$196$136
37 years$1,122$735$468$291$177$121
38 years$1,080$699$438$268$161$109
39 years$1,041$664$410$247$146$97
40 years$1,003$632$385$228$132$87
41 years$968$602$361$210$120$78
42 years$934$573$338$194$109$70
43 years$903$546$318$179$99$63
44 years$872$521$298$165$90$56
45 years$843$496$280$153$81$50
46 years$815$473$263$141$74$45
47 years$789$452$247$130$67$40
48 years$764$431$232$120$61$36
49 years$740$412$218$111$55$32
50 years$717$393$205$103$50$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $734,000, adding $4,691 every year, while hoping to spend $45,375 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: 47/38/15 Blend
61$734,000$734,000$734,000$734,000
62$813,707$774,805$763,428$848,308
63$848,426$764,492$740,724$862,462
64$885,166$752,152$715,739$872,808
65$924,085$737,640$688,348$883,047
66$965,356$720,798$658,421$893,185
67$1,009,167$701,462$625,823$903,235
68$1,055,725$679,456$590,411$913,211
69$1,105,256$654,597$552,037$923,134
70$1,158,007$626,687$510,546$933,030
71$1,214,250$595,521$465,775$942,931
72$1,274,280$560,878$417,556$952,878
73$1,338,423$522,528$365,710$962,920
74$1,407,035$480,224$310,054$973,114
75$1,480,506$433,709$250,394$983,530
76$1,559,265$382,708$186,530$994,250
77$1,643,781$326,932$118,250$1,005,368
78$1,734,570$266,075$45,335$1,016,997
79$1,832,199$199,814$0$1,029,266
80$1,937,287$127,809$0$1,047,521
81$2,050,518$49,699$0$1,074,816
82$2,172,640$0$0$1,104,125
83$2,304,478$0$0$1,150,306
84$2,446,935$0$0$1,222,727
85$2,601,006$0$0$1,301,120
86$2,767,783$0$0$1,386,050
87$2,948,468$0$0$1,478,138
88$3,144,382$0$0$1,578,067
89$3,356,976$0$0$1,686,586
90$3,587,849$0$0$1,804,523
91$3,838,758$0$0$1,932,785
92$4,111,636$0$0$2,072,372
93$4,408,608$0$0$2,224,383
94$4,732,016$0$0$2,390,030
95$5,084,434$0$0$2,570,644
96$5,468,695$0$0$2,767,691
97$5,887,919$0$0$2,982,784
98$6,345,539$0$0$3,217,699
99$6,845,333$0$0$3,474,392
100$7,391,462$0$0$3,755,014