Can I retire at age 62 with 750,000?

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 $750,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$61,934$61,383$60,844$60,319$59,806$58,408
2 years$30,661$30,090$29,536$29,000$28,479$27,078
3 years$20,237$19,664$19,112$18,580$18,068$16,709
4 years$15,027$14,455$13,909$13,386$12,886$11,579
5 years$11,901$11,333$10,794$10,282$9,796$8,544
6 years$9,818$9,254$8,723$8,222$7,751$6,555
7 years$8,331$7,772$7,249$6,760$6,304$5,165
8 years$7,216$6,662$6,147$5,671$5,230$4,147
9 years$6,349$5,800$5,295$4,830$4,404$3,377
10 years$5,656$5,113$4,616$4,164$3,753$2,780
11 years$5,090$4,551$4,064$3,624$3,227$2,308
12 years$4,618$4,085$3,607$3,179$2,797$1,929
13 years$4,219$3,692$3,222$2,806$2,439$1,621
14 years$3,877$3,356$2,895$2,491$2,138$1,368
15 years$3,581$3,066$2,614$2,222$1,882$1,159
16 years$3,323$2,813$2,370$1,989$1,664$985
17 years$3,095$2,590$2,157$1,787$1,475$839
18 years$2,892$2,394$1,969$1,611$1,312$716
19 years$2,712$2,218$1,802$1,455$1,169$613
20 years$2,549$2,061$1,654$1,318$1,044$525
21 years$2,402$1,920$1,521$1,196$934$450
22 years$2,269$1,792$1,402$1,088$838$386
23 years$2,147$1,676$1,295$991$752$332
24 years$2,036$1,571$1,197$903$676$286
25 years$1,934$1,474$1,109$825$608$246
26 years$1,839$1,385$1,029$754$548$212
27 years$1,752$1,304$955$691$494$182
28 years$1,672$1,228$888$633$446$157
29 years$1,597$1,159$826$580$402$136
30 years$1,527$1,094$770$532$364$117
31 years$1,461$1,035$717$489$329$101
32 years$1,400$979$669$449$297$87
33 years$1,343$927$625$413$269$75
34 years$1,289$879$584$380$244$65
35 years$1,239$833$546$350$221$56
36 years$1,191$791$511$322$200$48
37 years$1,146$751$478$297$181$42
38 years$1,104$714$448$274$164$36
39 years$1,063$679$419$252$149$31
40 years$1,025$646$393$233$135$27
41 years$989$615$369$215$123$23
42 years$955$586$346$198$111$20
43 years$922$558$324$183$101$17
44 years$891$532$305$169$92$15
45 years$861$507$286$156$83$13
46 years$833$484$269$144$76$11
47 years$806$462$252$133$69$10
48 years$780$441$237$123$62$8
49 years$756$421$223$114$57$7
50 years$732$402$210$105$51$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $750,000, adding $2,218 every year, while hoping to spend $21,441 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: 82/5/13 Blend
61$750,000$750,000$750,000$750,000
62$828,788$789,038$777,413$894,553
63$890,511$804,888$780,643$953,865
64$957,812$820,795$783,263$1,015,931
65$1,031,236$836,742$785,229$1,083,448
66$1,111,384$852,704$786,497$1,156,950
67$1,198,919$868,661$787,019$1,237,028
68$1,294,569$884,585$786,744$1,324,333
69$1,399,136$900,451$785,621$1,419,582
70$1,513,504$916,229$783,595$1,523,562
71$1,638,644$931,887$780,608$1,637,144
72$1,775,627$947,391$776,600$1,761,286
73$1,925,633$962,705$771,508$1,897,042
74$2,089,959$977,789$765,265$2,045,575
75$2,270,036$992,602$757,803$2,208,165
76$2,467,438$1,007,098$749,047$2,386,224
77$2,683,900$1,021,229$738,924$2,581,306
78$2,921,331$1,034,942$727,351$2,795,123
79$3,181,836$1,048,184$714,247$3,029,563
80$3,467,733$1,060,894$699,523$3,286,706
81$3,781,573$1,073,009$683,089$3,568,842
82$4,126,169$1,084,462$664,848$3,878,496
83$4,504,618$1,095,181$644,700$4,218,451
84$4,920,333$1,105,089$622,542$4,591,771
85$5,377,073$1,114,104$598,263$5,001,835
86$5,878,979$1,122,139$571,748$5,452,365
87$6,430,612$1,129,102$542,879$5,947,462
88$7,036,999$1,134,892$511,531$6,491,646
89$7,703,677$1,139,406$477,571$7,089,898
90$8,436,747$1,142,532$440,865$7,747,708
91$9,242,930$1,144,151$401,269$8,471,122
92$10,129,631$1,144,137$358,633$9,266,806
93$11,105,009$1,142,355$312,803$10,142,106
94$12,178,054$1,138,664$263,616$11,105,114
95$13,358,670$1,132,913$210,901$12,164,752
96$14,657,769$1,124,941$154,481$13,330,847
97$16,087,378$1,114,579$94,172$14,614,233
98$17,660,743$1,101,646$29,780$16,026,846
99$19,392,464$1,085,952$0$17,581,840
100$21,298,626$1,067,294$0$19,299,114