Can I retire at age 62 with 628,000?

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 $628,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$51,860$51,398$50,947$50,507$50,078$49,147
2 years$25,673$25,195$24,732$24,282$23,846$22,912
3 years$16,945$16,465$16,003$15,558$15,129$14,221
4 years$12,582$12,104$11,646$11,209$10,790$9,914
5 years$9,965$9,489$9,038$8,609$8,203$7,362
6 years$8,221$7,749$7,304$6,885$6,490$5,686
7 years$6,976$6,507$6,070$5,660$5,278$4,510
8 years$6,042$5,578$5,147$4,748$4,379$3,647
9 years$5,316$4,857$4,434$4,045$3,688$2,991
10 years$4,736$4,281$3,865$3,486$3,142$2,480
11 years$4,262$3,811$3,403$3,034$2,702$2,075
12 years$3,867$3,421$3,020$2,661$2,342$1,748
13 years$3,533$3,091$2,698$2,350$2,042$1,480
14 years$3,247$2,810$2,424$2,086$1,790$1,260
15 years$2,999$2,567$2,189$1,860$1,576$1,076
16 years$2,782$2,355$1,984$1,666$1,393$922
17 years$2,591$2,169$1,806$1,496$1,235$792
18 years$2,422$2,004$1,648$1,349$1,098$682
19 years$2,271$1,857$1,509$1,219$979$589
20 years$2,134$1,726$1,385$1,104$874$509
21 years$2,011$1,608$1,274$1,002$782$441
22 years$1,900$1,501$1,174$911$701$382
23 years$1,798$1,404$1,084$829$630$331
24 years$1,705$1,315$1,003$756$566$288
25 years$1,619$1,234$929$691$509$250
26 years$1,540$1,160$861$632$459$217
27 years$1,467$1,092$800$578$414$189
28 years$1,400$1,029$743$530$373$165
29 years$1,337$970$692$486$337$143
30 years$1,278$916$644$446$304$125
31 years$1,224$866$601$409$275$109
32 years$1,173$820$561$376$249$95
33 years$1,125$776$523$346$225$83
34 years$1,080$736$489$318$204$72
35 years$1,037$698$457$293$185$63
36 years$997$662$428$270$167$55
37 years$960$629$400$249$152$48
38 years$924$598$375$229$138$42
39 years$890$569$351$211$125$36
40 years$859$541$329$195$113$32
41 years$828$515$309$180$103$28
42 years$800$490$290$166$93$24
43 years$772$467$272$153$85$21
44 years$746$445$255$141$77$18
45 years$721$425$239$131$70$16
46 years$698$405$225$121$63$14
47 years$675$387$211$112$57$12
48 years$654$369$199$103$52$11
49 years$633$352$187$95$47$9
50 years$613$337$175$88$43$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $628,000, adding $6,377 every year, while hoping to spend $42,368 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: 41/29/30 Blend
61$628,000$628,000$628,000$628,000
62$698,634$665,350$655,616$720,902
63$724,815$652,873$632,500$725,182
64$752,247$638,364$607,189$725,409
65$781,013$621,680$579,566$724,862
66$811,201$602,668$549,507$723,498
67$842,910$581,165$516,882$721,272
68$876,246$557,002$481,557$718,136
69$911,324$529,996$443,390$714,046
70$948,270$499,956$402,234$708,953
71$987,220$466,680$357,935$702,810
72$1,028,323$429,954$310,332$695,570
73$1,071,741$389,551$259,258$687,184
74$1,117,651$345,232$204,536$677,606
75$1,166,247$296,744$145,983$666,790
76$1,217,740$243,819$83,409$654,691
77$1,272,360$186,177$16,614$641,264
78$1,330,358$123,517$0$626,469
79$1,392,012$55,527$0$627,766
80$1,457,622$0$0$634,435
81$1,527,518$0$0$646,977
82$1,602,062$0$0$679,297
83$1,681,650$0$0$713,853
84$1,766,715$0$0$750,840
85$1,857,733$0$0$790,471
86$1,955,226$0$0$832,980
87$2,059,765$0$0$878,624
88$2,171,978$0$0$927,686
89$2,292,554$0$0$980,474
90$2,422,247$0$0$1,037,329
91$2,561,889$0$0$1,098,623
92$2,712,391$0$0$1,164,768
93$2,874,753$0$0$1,236,213
94$3,050,075$0$0$1,313,453
95$3,239,566$0$0$1,397,033
96$3,444,555$0$0$1,487,551
97$3,666,501$0$0$1,585,664
98$3,907,009$0$0$1,692,096
99$4,167,844$0$0$1,807,642
100$4,450,948$0$0$1,933,177