Can I retire at age 62 with 745,000?

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 $745,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$61,521$60,973$60,439$59,917$59,407$58,447
2 years$30,456$29,889$29,339$28,806$28,289$27,325
3 years$20,102$19,533$18,984$18,456$17,948$17,009
4 years$14,927$14,359$13,816$13,297$12,801$11,894
5 years$11,822$11,257$10,722$10,213$9,731$8,860
6 years$9,753$9,192$8,665$8,168$7,700$6,865
7 years$8,275$7,720$7,200$6,715$6,262$5,464
8 years$7,168$6,617$6,106$5,633$5,195$4,433
9 years$6,307$5,762$5,260$4,798$4,375$3,649
10 years$5,619$5,079$4,585$4,136$3,728$3,037
11 years$5,056$4,521$4,037$3,600$3,206$2,550
12 years$4,587$4,058$3,583$3,157$2,778$2,156
13 years$4,191$3,667$3,201$2,787$2,423$1,834
14 years$3,851$3,333$2,876$2,474$2,124$1,567
15 years$3,558$3,045$2,597$2,207$1,870$1,344
16 years$3,301$2,794$2,354$1,976$1,653$1,157
17 years$3,074$2,573$2,142$1,775$1,465$998
18 years$2,873$2,378$1,956$1,600$1,303$863
19 years$2,694$2,203$1,790$1,446$1,161$748
20 years$2,532$2,048$1,643$1,309$1,037$650
21 years$2,386$1,907$1,511$1,188$928$565
22 years$2,254$1,780$1,393$1,080$832$492
23 years$2,133$1,665$1,286$984$747$429
24 years$2,022$1,560$1,189$897$671$374
25 years$1,921$1,464$1,102$820$604$326
26 years$1,827$1,376$1,022$749$544$285
27 years$1,741$1,295$949$686$491$249
28 years$1,660$1,220$882$628$443$218
29 years$1,586$1,151$821$576$400$191
30 years$1,516$1,087$764$529$361$167
31 years$1,452$1,028$713$486$327$146
32 years$1,391$972$665$446$295$128
33 years$1,334$921$621$411$267$112
34 years$1,281$873$580$378$242$98
35 years$1,231$828$542$348$219$86
36 years$1,183$786$507$320$199$76
37 years$1,139$746$475$295$180$66
38 years$1,096$709$445$272$163$58
39 years$1,056$674$417$251$148$51
40 years$1,019$642$391$231$134$45
41 years$983$611$366$213$122$39
42 years$948$582$343$197$110$34
43 years$916$554$322$182$100$30
44 years$885$528$303$168$91$27
45 years$856$504$284$155$83$23
46 years$828$481$267$143$75$20
47 years$801$459$251$132$68$18
48 years$775$438$236$122$62$16
49 years$751$418$221$113$56$14
50 years$727$399$208$104$51$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $745,000, adding $3,817 every year, while hoping to spend $47,982 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: 57/30/13 Blend
61$745,000$745,000$745,000$745,000
62$824,927$785,442$773,895$869,021
63$858,017$772,876$748,768$886,721
64$892,874$758,087$721,191$900,381
65$929,628$740,914$691,031$914,139
66$968,420$721,188$658,150$928,012
67$1,009,403$698,731$622,403$942,021
68$1,052,746$673,352$583,637$956,193
69$1,098,632$644,853$541,695$970,557
70$1,147,262$613,019$496,411$985,150
71$1,198,854$577,628$447,612$1,000,017
72$1,253,647$538,442$395,117$1,015,209
73$1,311,903$495,210$338,737$1,030,786
74$1,373,908$447,666$278,276$1,046,818
75$1,439,975$395,531$213,527$1,063,386
76$1,510,449$338,508$144,276$1,080,584
77$1,585,704$276,284$70,299$1,098,519
78$1,666,152$208,528$0$1,117,315
79$1,752,246$134,892$0$1,138,313
80$1,844,479$55,006$0$1,170,957
81$1,943,396$0$0$1,205,706
82$2,049,591$0$0$1,253,208
83$2,163,720$0$0$1,323,819
84$2,286,500$0$0$1,399,830
85$2,418,719$0$0$1,481,734
86$2,561,242$0$0$1,570,076
87$2,715,021$0$0$1,665,450
88$2,881,100$0$0$1,768,512
89$3,060,627$0$0$1,879,982
90$3,254,864$0$0$2,000,651
91$3,465,198$0$0$2,131,388
92$3,693,154$0$0$2,273,151
93$3,940,408$0$0$2,426,992
94$4,208,805$0$0$2,594,066
95$4,500,372$0$0$2,775,647
96$4,817,340$0$0$2,973,134
97$5,162,164$0$0$3,188,067
98$5,537,543$0$0$3,422,142
99$5,946,450$0$0$3,677,222
100$6,392,154$0$0$3,955,360