Can I retire at age 62 with 622,000?

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 $622,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$51,364$50,907$50,460$50,025$49,599$47,858
2 years$25,428$24,954$24,495$24,050$23,619$21,883
3 years$16,783$16,308$15,850$15,409$14,985$13,309
4 years$12,462$11,988$11,535$11,101$10,687$9,084
5 years$9,870$9,399$8,951$8,527$8,124$6,598
6 years$8,143$7,675$7,234$6,819$6,428$4,980
7 years$6,909$6,445$6,012$5,606$5,228$3,857
8 years$5,984$5,525$5,098$4,703$4,337$3,043
9 years$5,266$4,810$4,391$4,006$3,653$2,433
10 years$4,691$4,240$3,828$3,453$3,112$1,966
11 years$4,221$3,775$3,370$3,005$2,677$1,601
12 years$3,830$3,388$2,991$2,636$2,319$1,312
13 years$3,499$3,062$2,672$2,327$2,023$1,080
14 years$3,215$2,783$2,401$2,066$1,773$893
15 years$2,970$2,542$2,168$1,842$1,561$741
16 years$2,756$2,333$1,966$1,650$1,380$616
17 years$2,567$2,148$1,789$1,482$1,223$513
18 years$2,399$1,985$1,633$1,336$1,088$429
19 years$2,249$1,840$1,495$1,207$970$358
20 years$2,114$1,710$1,372$1,093$866$300
21 years$1,992$1,592$1,262$992$775$251
22 years$1,882$1,486$1,163$902$695$211
23 years$1,781$1,390$1,074$822$624$177
24 years$1,688$1,303$993$749$560$149
25 years$1,604$1,222$920$684$504$125
26 years$1,525$1,149$853$626$454$105
27 years$1,453$1,081$792$573$410$88
28 years$1,386$1,019$736$525$370$74
29 years$1,324$961$685$481$334$62
30 years$1,266$908$638$442$302$53
31 years$1,212$858$595$406$273$44
32 years$1,161$812$555$373$247$37
33 years$1,114$769$518$343$223$31
34 years$1,069$729$484$315$202$26
35 years$1,027$691$453$290$183$22
36 years$988$656$424$267$166$19
37 years$951$623$396$246$150$16
38 years$915$592$371$227$136$13
39 years$882$563$348$209$124$11
40 years$850$536$326$193$112$9
41 years$820$510$306$178$102$8
42 years$792$486$287$164$92$7
43 years$765$463$269$152$84$6
44 years$739$441$253$140$76$5
45 years$714$421$237$129$69$4
46 years$691$401$223$120$63$3
47 years$669$383$209$110$57$3
48 years$647$366$197$102$52$2
49 years$627$349$185$94$47$2
50 years$607$333$174$87$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $622,000, adding $4,549 every year, while hoping to spend $45,419 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: 50/41/9 Blend
61$622,000$622,000$622,000$622,000
62$690,136$657,170$647,529$722,790
63$712,205$641,046$620,896$729,466
64$735,002$622,610$591,848$731,509
65$758,554$601,700$560,257$732,671
66$782,889$578,145$525,988$732,882
67$808,036$551,766$488,901$732,066
68$834,024$522,371$448,847$730,145
69$860,885$489,758$405,675$727,035
70$888,652$453,714$359,222$722,648
71$917,361$414,011$309,322$716,889
72$947,046$370,413$255,799$709,661
73$977,748$322,666$198,471$700,858
74$1,009,505$270,503$137,146$690,372
75$1,042,360$213,644$71,626$678,085
76$1,076,358$151,789$1,703$663,874
77$1,111,545$84,626$0$647,611
78$1,147,972$11,821$0$636,162
79$1,185,690$0$0$623,009
80$1,224,755$0$0$638,078
81$1,265,226$0$0$659,219
82$1,307,164$0$0$681,133
83$1,350,636$0$0$703,854
84$1,395,711$0$0$727,419
85$1,442,465$0$0$751,870
86$1,490,976$0$0$777,247
87$1,541,328$0$0$803,596
88$1,593,611$0$0$830,966
89$1,647,923$0$0$859,407
90$1,704,364$0$0$888,975
91$1,763,046$0$0$919,730
92$1,824,086$0$0$951,734
93$1,887,609$0$0$985,055
94$1,953,753$0$0$1,019,767
95$2,022,661$0$0$1,055,948
96$2,094,492$0$0$1,093,683
97$2,169,413$0$0$1,133,063
98$2,247,606$0$0$1,174,185
99$2,329,268$0$0$1,217,157
100$2,414,611$0$0$1,262,093