Can I retire at age 62 with 754,000?

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 $754,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$62,265$61,710$61,169$60,641$60,125$57,717
2 years$30,824$30,250$29,694$29,154$28,631$26,235
3 years$20,345$19,769$19,214$18,679$18,165$15,856
4 years$15,107$14,532$13,983$13,457$12,955$10,752
5 years$11,965$11,393$10,851$10,337$9,848$7,756
6 years$9,871$9,304$8,769$8,266$7,793$5,812
7 years$8,375$7,813$7,287$6,796$6,338$4,469
8 years$7,254$6,697$6,180$5,701$5,258$3,498
9 years$6,383$5,831$5,323$4,856$4,428$2,775
10 years$5,686$5,140$4,641$4,186$3,773$2,223
11 years$5,117$4,576$4,086$3,643$3,245$1,795
12 years$4,642$4,107$3,626$3,195$2,812$1,458
13 years$4,241$3,711$3,240$2,821$2,452$1,190
14 years$3,898$3,374$2,911$2,504$2,149$975
15 years$3,600$3,082$2,628$2,233$1,892$801
16 years$3,341$2,828$2,383$2,000$1,672$660
17 years$3,111$2,604$2,168$1,797$1,483$545
18 years$2,908$2,406$1,979$1,619$1,319$451
19 years$2,726$2,230$1,812$1,463$1,175$373
20 years$2,563$2,072$1,663$1,325$1,050$309
21 years$2,415$1,930$1,530$1,203$939$256
22 years$2,281$1,802$1,410$1,093$842$213
23 years$2,159$1,685$1,302$996$756$177
24 years$2,047$1,579$1,204$908$679$147
25 years$1,944$1,482$1,115$829$611$122
26 years$1,849$1,393$1,034$758$551$102
27 years$1,762$1,311$960$694$496$85
28 years$1,681$1,235$893$636$448$70
29 years$1,605$1,165$831$583$405$59
30 years$1,535$1,100$774$535$366$49
31 years$1,469$1,040$721$492$330$41
32 years$1,408$984$673$452$299$34
33 years$1,350$932$628$415$271$28
34 years$1,296$883$587$382$245$23
35 years$1,245$838$549$352$222$20
36 years$1,198$795$514$324$201$16
37 years$1,152$755$481$299$182$14
38 years$1,110$718$450$275$165$11
39 years$1,069$683$422$254$150$9
40 years$1,031$649$395$234$136$8
41 years$994$618$371$216$123$7
42 years$960$589$348$199$112$5
43 years$927$561$326$184$101$5
44 years$896$535$306$170$92$4
45 years$866$510$288$157$84$3
46 years$838$486$270$145$76$3
47 years$811$464$254$134$69$2
48 years$785$443$238$124$63$2
49 years$760$423$224$114$57$2
50 years$736$404$211$106$52$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $754,000, adding $5,602 every year, while hoping to spend $32,936 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: 64/18/18 Blend
61$754,000$754,000$754,000$754,000
62$836,686$796,724$785,037$886,113
63$886,985$800,720$776,293$923,986
64$941,310$803,808$766,151$961,086
65$1,000,037$805,909$754,531$1,000,831
66$1,063,580$806,937$741,347$1,043,482
67$1,132,393$806,805$726,510$1,089,327
68$1,206,976$805,417$709,926$1,138,681
69$1,287,876$802,671$691,498$1,191,895
70$1,375,699$798,461$671,122$1,249,356
71$1,471,108$792,674$648,693$1,311,491
72$1,574,834$785,188$624,097$1,378,771
73$1,687,681$775,876$597,218$1,451,718
74$1,810,534$764,603$567,934$1,530,908
75$1,944,364$751,224$536,115$1,616,975
76$2,090,243$735,589$501,630$1,710,621
77$2,249,351$717,535$464,337$1,812,622
78$2,422,983$696,892$424,090$1,923,833
79$2,612,567$673,481$380,738$2,045,199
80$2,819,676$647,109$334,120$2,177,762
81$3,046,041$617,574$284,070$2,322,675
82$3,293,565$584,663$230,414$2,481,207
83$3,564,346$548,150$172,971$2,654,763
84$3,860,695$507,795$111,551$2,844,891
85$4,185,154$463,345$45,956$3,053,299
86$4,540,524$414,533$0$3,281,875
87$4,929,889$361,076$0$3,537,319
88$5,356,646$302,677$0$3,827,028
89$5,824,535$239,019$0$4,144,747
90$6,337,676$169,769$0$4,493,318
91$6,900,607$94,576$0$4,875,874
92$7,518,326$13,068$0$5,295,870
93$8,196,339$0$0$5,757,115
94$8,940,711$0$0$6,278,692
95$9,758,122$0$0$6,854,345
96$10,655,930$0$0$7,486,673
97$11,642,243$0$0$8,181,395
98$12,725,991$0$0$8,944,807
99$13,917,013$0$0$9,783,848
100$15,226,148$0$0$10,706,161