Can I retire at age 62 with 621,000?

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 $621,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$51,282$50,825$50,379$49,944$49,519$49,105
2 years$25,387$24,914$24,456$24,012$23,581$23,163
3 years$16,757$16,282$15,825$15,384$14,961$14,552
4 years$12,442$11,969$11,516$11,084$10,670$10,274
5 years$9,854$9,384$8,937$8,513$8,111$7,730
6 years$8,129$7,662$7,222$6,808$6,418$6,051
7 years$6,898$6,435$6,002$5,597$5,220$4,867
8 years$5,975$5,516$5,090$4,695$4,330$3,992
9 years$5,257$4,803$4,384$4,000$3,647$3,323
10 years$4,683$4,233$3,822$3,448$3,107$2,798
11 years$4,214$3,769$3,365$3,000$2,672$2,377
12 years$3,824$3,383$2,986$2,632$2,316$2,035
13 years$3,493$3,057$2,668$2,323$2,019$1,752
14 years$3,210$2,779$2,397$2,063$1,770$1,516
15 years$2,965$2,538$2,164$1,839$1,559$1,317
16 years$2,751$2,329$1,962$1,647$1,377$1,149
17 years$2,563$2,145$1,786$1,480$1,221$1,005
18 years$2,395$1,982$1,630$1,334$1,086$881
19 years$2,245$1,837$1,492$1,205$968$774
20 years$2,111$1,707$1,370$1,091$865$682
21 years$1,989$1,590$1,260$991$774$601
22 years$1,879$1,484$1,161$901$694$531
23 years$1,778$1,388$1,072$820$623$469
24 years$1,686$1,300$991$748$560$416
25 years$1,601$1,220$918$683$504$368
26 years$1,523$1,147$852$625$454$327
27 years$1,451$1,079$791$572$409$290
28 years$1,384$1,017$735$524$369$257
29 years$1,322$960$684$480$333$229
30 years$1,264$906$637$441$301$203
31 years$1,210$857$594$405$272$181
32 years$1,160$811$554$372$246$161
33 years$1,112$768$518$342$223$143
34 years$1,068$728$484$315$202$128
35 years$1,026$690$452$290$183$114
36 years$986$655$423$267$166$101
37 years$949$622$396$246$150$90
38 years$914$591$371$227$136$81
39 years$881$562$347$209$123$72
40 years$849$535$326$193$112$64
41 years$819$509$305$178$102$57
42 years$791$485$286$164$92$51
43 years$764$462$269$152$84$45
44 years$738$440$252$140$76$41
45 years$713$420$237$129$69$36
46 years$690$401$222$119$63$32
47 years$668$382$209$110$57$29
48 years$646$365$196$102$52$26
49 years$626$349$185$94$47$23
50 years$606$333$174$87$43$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $621,000, adding $4,458 every year, while hoping to spend $24,427 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: 86/9/5 Blend
61$621,000$621,000$621,000$621,000
62$688,940$656,027$646,402$747,830
63$733,222$662,183$642,066$793,023
64$781,202$667,821$636,767$838,829
65$833,231$672,891$630,445$888,370
66$889,697$677,338$623,041$942,002
67$951,023$681,105$614,489$1,000,120
68$1,017,677$684,129$604,725$1,063,158
69$1,090,175$686,346$593,678$1,131,593
70$1,169,081$687,685$581,274$1,205,952
71$1,255,018$688,072$567,438$1,286,813
72$1,348,671$687,429$552,089$1,374,815
73$1,450,795$685,673$535,143$1,470,660
74$1,562,219$682,714$516,513$1,575,121
75$1,683,857$678,458$496,108$1,689,052
76$1,816,714$672,806$473,831$1,813,390
77$1,961,898$665,652$449,583$1,949,170
78$2,120,626$656,884$423,259$2,097,530
79$2,294,240$646,382$394,749$2,259,726
80$2,484,219$634,021$363,939$2,437,139
81$2,692,189$619,667$330,710$2,631,294
82$2,919,940$603,180$294,937$2,843,868
83$3,169,447$584,408$256,491$3,076,710
84$3,442,881$563,194$215,233$3,331,857
85$3,742,635$539,371$171,024$3,611,553
86$4,071,344$512,760$123,713$3,918,272
87$4,431,911$483,175$73,147$4,254,739
88$4,827,532$450,417$19,164$4,623,956
89$5,261,728$414,276$0$5,029,233
90$5,738,380$374,530$0$5,476,266
91$6,261,758$330,946$0$5,968,247
92$6,836,569$283,274$0$6,508,589
93$7,467,999$231,255$0$7,102,182
94$8,161,760$174,610$0$7,754,412
95$8,924,142$113,049$0$8,471,215
96$9,762,079$46,263$0$9,259,132
97$10,683,206$0$0$10,125,370
98$11,695,939$0$0$11,080,453
99$12,809,547$0$0$12,135,714
100$14,034,242$0$0$13,296,252