Can I retire at age 62 with 738,000?

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 $738,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$60,943$60,400$59,871$59,354$58,849$57,011
2 years$30,170$29,608$29,064$28,536$28,023$26,188
3 years$19,914$19,349$18,806$18,283$17,779$16,004
4 years$14,786$14,224$13,686$13,172$12,680$10,979
5 years$11,711$11,152$10,621$10,117$9,639$8,016
6 years$9,661$9,106$8,583$8,091$7,627$6,084
7 years$8,198$7,647$7,133$6,652$6,203$4,739
8 years$7,100$6,555$6,049$5,580$5,146$3,761
9 years$6,248$5,707$5,210$4,753$4,334$3,026
10 years$5,566$5,031$4,542$4,097$3,693$2,460
11 years$5,008$4,479$3,999$3,566$3,176$2,016
12 years$4,544$4,020$3,549$3,128$2,752$1,663
13 years$4,151$3,633$3,171$2,761$2,400$1,379
14 years$3,815$3,302$2,849$2,451$2,104$1,148
15 years$3,524$3,016$2,572$2,186$1,852$959
16 years$3,270$2,768$2,332$1,957$1,637$803
17 years$3,045$2,549$2,122$1,759$1,451$674
18 years$2,846$2,355$1,937$1,585$1,291$567
19 years$2,668$2,183$1,773$1,432$1,150$478
20 years$2,508$2,028$1,628$1,297$1,027$403
21 years$2,364$1,889$1,497$1,177$919$340
22 years$2,232$1,764$1,380$1,070$824$288
23 years$2,113$1,649$1,274$975$740$243
24 years$2,003$1,545$1,178$889$665$206
25 years$1,903$1,450$1,091$812$598$175
26 years$1,810$1,363$1,012$742$539$148
27 years$1,724$1,283$940$679$486$125
28 years$1,645$1,209$874$623$438$106
29 years$1,571$1,140$813$571$396$90
30 years$1,502$1,077$757$524$358$77
31 years$1,438$1,018$706$481$323$65
32 years$1,378$963$659$442$293$55
33 years$1,322$912$615$407$265$47
34 years$1,269$865$575$374$240$40
35 years$1,219$820$537$344$217$34
36 years$1,172$778$503$317$197$29
37 years$1,128$739$470$292$178$24
38 years$1,086$703$441$269$162$21
39 years$1,046$668$413$248$147$18
40 years$1,009$636$387$229$133$15
41 years$973$605$363$211$121$13
42 years$940$576$340$195$109$11
43 years$907$549$319$180$99$9
44 years$877$523$300$166$90$8
45 years$848$499$281$154$82$7
46 years$820$476$264$142$74$6
47 years$793$454$248$131$67$5
48 years$768$434$233$121$61$4
49 years$744$414$219$112$56$3
50 years$721$396$206$103$51$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $738,000, adding $3,138 every year, while hoping to spend $49,659 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: 58/19/23 Blend
61$738,000$738,000$738,000$738,000
62$816,513$777,399$765,960$858,652
63$846,960$762,655$738,783$872,985
64$878,849$745,524$709,031$883,007
65$912,274$725,836$676,565$892,861
66$947,337$703,413$641,242$902,541
67$984,150$678,065$602,908$912,045
68$1,022,834$649,591$561,405$921,373
69$1,063,519$617,778$516,569$930,527
70$1,106,350$582,401$468,226$939,514
71$1,151,482$543,223$416,196$948,341
72$1,199,085$499,992$360,290$957,024
73$1,249,342$452,442$300,310$965,579
74$1,302,456$400,293$236,052$974,032
75$1,358,647$343,248$167,300$982,413
76$1,418,155$280,992$93,830$990,760
77$1,481,241$213,195$15,408$999,118
78$1,548,193$139,507$0$1,007,543
79$1,619,324$59,558$0$1,032,859
80$1,694,976$0$0$1,063,511
81$1,775,525$0$0$1,101,525
82$1,861,382$0$0$1,155,352
83$1,952,996$0$0$1,212,825
84$2,050,859$0$0$1,274,259
85$2,155,512$0$0$1,339,997
86$2,267,547$0$0$1,410,417
87$2,387,613$0$0$1,485,933
88$2,516,422$0$0$1,566,998
89$2,654,756$0$0$1,654,111
90$2,803,472$0$0$1,747,819
91$2,963,511$0$0$1,848,723
92$3,135,909$0$0$1,957,482
93$3,321,800$0$0$2,074,819
94$3,522,432$0$0$2,201,532
95$3,739,175$0$0$2,338,495
96$3,973,535$0$0$2,486,669
97$4,227,169$0$0$2,647,110
98$4,501,896$0$0$2,820,981
99$4,799,717$0$0$3,009,558
100$5,122,833$0$0$3,214,246