Can I retire at age 62 with 757,000?

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 $757,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$62,512$61,956$61,412$60,882$60,364$58,432
2 years$30,947$30,370$29,812$29,270$28,745$26,816
3 years$20,426$19,847$19,290$18,754$18,237$16,372
4 years$15,167$14,590$14,038$13,511$13,007$11,220
5 years$12,012$11,439$10,894$10,378$9,888$8,184
6 years$9,910$9,341$8,804$8,299$7,824$6,204
7 years$8,409$7,844$7,316$6,823$6,363$4,827
8 years$7,283$6,724$6,205$5,724$5,278$3,826
9 years$6,408$5,854$5,344$4,875$4,445$3,075
10 years$5,709$5,160$4,659$4,203$3,788$2,496
11 years$5,137$4,594$4,102$3,658$3,257$2,043
12 years$4,661$4,123$3,640$3,208$2,823$1,683
13 years$4,258$3,726$3,252$2,832$2,462$1,394
14 years$3,913$3,387$2,922$2,514$2,158$1,159
15 years$3,615$3,094$2,638$2,242$1,900$966
16 years$3,354$2,839$2,392$2,008$1,679$808
17 years$3,124$2,614$2,177$1,804$1,489$678
18 years$2,919$2,416$1,987$1,626$1,324$569
19 years$2,737$2,239$1,819$1,469$1,180$479
20 years$2,573$2,081$1,669$1,330$1,054$403
21 years$2,425$1,938$1,536$1,207$943$340
22 years$2,290$1,809$1,415$1,098$845$287
23 years$2,167$1,692$1,307$1,000$759$242
24 years$2,055$1,585$1,209$912$682$205
25 years$1,952$1,488$1,119$833$614$173
26 years$1,857$1,398$1,038$761$553$147
27 years$1,769$1,316$964$697$498$124
28 years$1,687$1,240$896$639$450$105
29 years$1,611$1,170$834$586$406$89
30 years$1,541$1,105$777$537$367$75
31 years$1,475$1,044$724$494$332$64
32 years$1,413$988$676$454$300$54
33 years$1,356$936$631$417$272$46
34 years$1,301$887$589$384$246$39
35 years$1,250$841$551$353$223$33
36 years$1,202$798$516$325$202$28
37 years$1,157$758$483$300$183$24
38 years$1,114$721$452$276$166$20
39 years$1,073$685$423$255$150$17
40 years$1,035$652$397$235$136$14
41 years$998$621$372$217$124$12
42 years$964$591$349$200$112$10
43 years$931$563$328$185$102$9
44 years$899$537$307$171$92$7
45 years$870$512$289$158$84$6
46 years$841$488$271$146$76$5
47 years$814$466$255$134$69$5
48 years$788$445$239$124$63$4
49 years$763$425$225$115$57$3
50 years$739$406$212$106$52$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $757,000, adding $3,290 every year, while hoping to spend $23,285 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: 58/30/12 Blend
61$757,000$757,000$757,000$757,000
62$837,608$797,487$785,753$883,519
63$898,269$811,788$787,301$929,178
64$964,336$826,011$788,120$976,044
65$1,036,338$840,125$788,161$1,026,574
66$1,114,854$854,100$787,374$1,081,123
67$1,200,522$867,903$785,704$1,140,082
68$1,294,044$881,500$783,094$1,203,882
69$1,396,195$894,851$779,485$1,272,997
70$1,507,824$907,917$774,816$1,347,952
71$1,629,870$920,653$769,021$1,429,324
72$1,763,365$933,013$762,031$1,517,749
73$1,909,445$944,947$753,775$1,613,930
74$2,069,360$956,401$744,179$1,718,639
75$2,244,489$967,319$733,163$1,832,730
76$2,436,350$977,640$720,646$1,957,143
77$2,646,611$987,299$706,542$2,092,915
78$2,877,115$996,226$690,761$2,241,190
79$3,129,888$1,004,348$673,208$2,403,228
80$3,407,161$1,011,586$653,785$2,580,419
81$3,711,394$1,017,856$632,390$2,774,295
82$4,045,295$1,023,070$608,914$2,986,547
83$4,411,847$1,027,132$583,244$3,219,037
84$4,814,337$1,029,943$555,264$3,473,819
85$5,256,383$1,031,394$524,849$3,753,159
86$5,741,974$1,031,372$491,872$4,059,552
87$6,275,503$1,029,757$456,197$4,395,754
88$6,861,809$1,026,419$417,684$4,764,798
89$7,506,223$1,021,224$376,186$5,170,033
90$8,214,620$1,014,026$331,550$5,615,147
91$8,993,470$1,004,672$283,616$6,104,209
92$9,849,903$993,000$232,217$6,641,704
93$10,791,775$978,838$177,177$7,232,577
94$11,827,738$962,003$118,315$7,882,279
95$12,967,328$942,303$55,439$8,596,821
96$14,221,051$919,531$0$9,382,828
97$15,600,482$893,472$0$10,249,098
98$17,118,375$863,896$0$11,209,864
99$18,788,782$830,559$0$12,266,923
100$20,627,187$793,206$0$13,430,093