Can I retire at age 62 with 763,000?

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 $763,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$63,008$62,447$61,899$61,365$60,843$59,614
2 years$31,192$30,611$30,048$29,502$28,973$27,740
3 years$20,588$20,005$19,443$18,902$18,381$17,184
4 years$15,287$14,706$14,150$13,618$13,110$11,956
5 years$12,107$11,529$10,981$10,460$9,966$8,859
6 years$9,988$9,415$8,874$8,365$7,886$6,827
7 years$8,475$7,906$7,374$6,877$6,413$5,403
8 years$7,341$6,777$6,254$5,769$5,320$4,359
9 years$6,459$5,901$5,387$4,914$4,480$3,567
10 years$5,754$5,201$4,696$4,236$3,818$2,950
11 years$5,178$4,630$4,134$3,687$3,283$2,462
12 years$4,698$4,156$3,669$3,234$2,845$2,068
13 years$4,292$3,756$3,278$2,855$2,481$1,747
14 years$3,944$3,414$2,945$2,534$2,175$1,483
15 years$3,643$3,119$2,659$2,260$1,915$1,263
16 years$3,380$2,861$2,411$2,024$1,692$1,080
17 years$3,148$2,635$2,194$1,818$1,501$925
18 years$2,943$2,435$2,003$1,639$1,334$794
19 years$2,759$2,257$1,834$1,481$1,189$683
20 years$2,593$2,097$1,683$1,341$1,062$589
21 years$2,444$1,953$1,548$1,217$951$508
22 years$2,308$1,823$1,426$1,107$852$439
23 years$2,184$1,705$1,317$1,008$765$380
24 years$2,071$1,598$1,218$919$688$329
25 years$1,967$1,499$1,128$839$619$285
26 years$1,871$1,409$1,046$767$557$247
27 years$1,783$1,326$972$703$502$214
28 years$1,701$1,250$903$644$453$186
29 years$1,624$1,179$841$590$409$161
30 years$1,553$1,113$783$542$370$140
31 years$1,487$1,053$730$497$334$121
32 years$1,425$996$681$457$302$106
33 years$1,366$943$636$420$274$92
34 years$1,312$894$594$387$248$80
35 years$1,260$848$555$356$224$69
36 years$1,212$805$520$328$203$60
37 years$1,166$764$486$302$184$52
38 years$1,123$726$455$279$167$46
39 years$1,082$691$427$257$152$40
40 years$1,043$657$400$237$137$34
41 years$1,006$626$375$219$125$30
42 years$971$596$352$202$113$26
43 years$938$568$330$186$103$23
44 years$907$541$310$172$93$20
45 years$876$516$291$159$85$17
46 years$848$492$273$147$77$15
47 years$820$470$257$135$70$13
48 years$794$448$241$125$63$11
49 years$769$428$227$116$58$10
50 years$745$409$213$107$52$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $763,000, adding $6,028 every year, while hoping to spend $41,146 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: 53/38/9 Blend
61$763,000$763,000$763,000$763,000
62$847,044$806,605$794,778$889,709
63$889,663$802,349$777,624$915,094
64$935,251$796,507$758,517$937,718
65$984,066$788,955$737,347$961,357
66$1,036,393$779,566$714,000$986,116
67$1,092,544$768,203$688,357$1,012,111
68$1,152,861$754,723$660,295$1,039,474
69$1,217,719$738,971$629,682$1,068,351
70$1,287,533$720,787$596,382$1,098,906
71$1,362,754$699,998$560,254$1,131,322
72$1,443,880$676,423$521,148$1,165,804
73$1,531,458$649,870$478,908$1,202,579
74$1,626,088$620,135$433,373$1,241,903
75$1,728,431$587,004$384,373$1,284,060
76$1,839,213$550,248$331,731$1,329,366
77$1,959,230$509,628$275,261$1,378,175
78$2,089,359$464,888$214,771$1,430,879
79$2,230,567$415,760$150,058$1,487,916
80$2,383,912$361,960$80,913$1,549,773
81$2,550,562$303,187$7,114$1,616,991
82$2,731,800$239,124$0$1,690,172
83$2,929,039$169,436$0$1,776,865
84$3,143,832$93,769$0$1,872,110
85$3,377,888$11,750$0$1,976,073
86$3,633,090$0$0$2,089,695
87$3,911,509$0$0$2,246,224
88$4,215,423$0$0$2,422,521
89$4,547,342$0$0$2,615,136
90$4,910,028$0$0$2,825,681
91$5,306,522$0$0$3,055,933
92$5,740,172$0$0$3,307,843
93$6,214,664$0$0$3,583,565
94$6,734,058$0$0$3,885,468
95$7,302,823$0$0$4,216,161
96$7,925,882$0$0$4,578,517
97$8,608,656$0$0$4,975,702
98$9,357,114$0$0$5,411,199
99$10,177,831$0$0$5,888,849
100$11,078,049$0$0$6,412,879