Can I retire at age 62 with 756,000?

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 $756,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$62,430$61,874$61,331$60,802$60,285$59,680
2 years$30,906$30,330$29,772$29,232$28,707$28,098
3 years$20,399$19,821$19,265$18,729$18,213$17,618
4 years$15,147$14,571$14,020$13,493$12,990$12,414
5 years$11,996$11,424$10,880$10,364$9,874$9,320
6 years$9,897$9,328$8,793$8,288$7,813$7,280
7 years$8,398$7,834$7,307$6,814$6,354$5,843
8 years$7,274$6,715$6,197$5,716$5,272$4,782
9 years$6,400$5,847$5,337$4,869$4,439$3,971
10 years$5,701$5,154$4,653$4,197$3,783$3,336
11 years$5,130$4,588$4,096$3,653$3,253$2,827
12 years$4,655$4,118$3,636$3,204$2,819$2,413
13 years$4,253$3,721$3,248$2,829$2,458$2,073
14 years$3,908$3,383$2,918$2,511$2,155$1,789
15 years$3,610$3,090$2,635$2,239$1,897$1,550
16 years$3,349$2,835$2,389$2,005$1,677$1,348
17 years$3,120$2,611$2,174$1,802$1,487$1,176
18 years$2,916$2,413$1,984$1,624$1,322$1,028
19 years$2,733$2,236$1,817$1,467$1,178$901
20 years$2,569$2,078$1,667$1,329$1,053$791
21 years$2,421$1,935$1,534$1,206$942$695
22 years$2,287$1,807$1,413$1,096$844$612
23 years$2,164$1,690$1,305$998$758$540
24 years$2,052$1,583$1,207$911$681$476
25 years$1,949$1,486$1,118$832$613$421
26 years$1,854$1,396$1,037$760$552$372
27 years$1,766$1,314$963$696$498$329
28 years$1,685$1,238$895$638$449$291
29 years$1,609$1,168$833$585$406$258
30 years$1,539$1,103$776$537$366$229
31 years$1,473$1,043$723$493$331$203
32 years$1,412$987$675$453$300$180
33 years$1,354$935$630$417$271$160
34 years$1,300$886$589$383$246$142
35 years$1,249$840$550$353$222$126
36 years$1,201$797$515$325$202$112
37 years$1,155$757$482$299$183$99
38 years$1,113$720$451$276$166$88
39 years$1,072$684$423$254$150$78
40 years$1,034$651$396$235$136$70
41 years$997$620$372$217$124$62
42 years$962$590$349$200$112$55
43 years$930$562$327$184$102$49
44 years$898$536$307$170$92$43
45 years$868$511$288$157$84$39
46 years$840$488$271$145$76$34
47 years$813$465$254$134$69$31
48 years$787$444$239$124$63$27
49 years$762$424$225$115$57$24
50 years$738$405$211$106$52$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $756,000, adding $5,384 every year, while hoping to spend $59,552 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: 62/22/16 Blend
61$756,000$756,000$756,000$756,000
62$838,666$798,598$786,880$886,988
63$860,847$774,366$749,877$895,902
64$883,294$746,951$709,639$898,417
65$905,973$716,134$665,995$899,747
66$928,841$681,683$618,764$899,779
67$951,850$643,354$567,761$898,395
68$974,948$600,887$512,790$895,464
69$998,070$554,009$453,646$890,849
70$1,021,147$502,429$390,117$884,398
71$1,044,098$445,842$321,980$875,950
72$1,066,832$383,924$249,002$865,329
73$1,089,247$316,333$170,941$852,346
74$1,111,225$242,709$87,543$836,797
75$1,132,639$162,670$0$818,462
76$1,153,340$75,814$0$797,351
77$1,173,166$0$0$788,924
78$1,191,933$0$0$782,417
79$1,209,436$0$0$793,369
80$1,225,446$0$0$803,269
81$1,239,708$0$0$811,942
82$1,251,936$0$0$819,192
83$1,261,813$0$0$824,801
84$1,268,987$0$0$828,526
85$1,273,064$0$0$830,099
86$1,273,608$0$0$829,220
87$1,270,134$0$0$825,556
88$1,262,104$0$0$818,739
89$1,248,922$0$0$808,360
90$1,229,924$0$0$793,964
91$1,204,378$0$0$775,049
92$1,171,469$0$0$751,058
93$1,130,298$0$0$721,373
94$1,079,866$0$0$685,313
95$1,019,069$0$0$642,121
96$946,687$0$0$590,961
97$861,368$0$0$530,908
98$761,616$0$0$460,939
99$645,781$0$0$379,924
100$512,034$0$0$286,611