Can I retire at age 62 with 629,000?

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 $629,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$51,942$51,480$51,028$50,588$50,157$48,358
2 years$25,714$25,235$24,771$24,321$23,884$22,092
3 years$16,972$16,491$16,028$15,583$15,153$13,423
4 years$12,602$12,123$11,665$11,226$10,807$9,153
5 years$9,981$9,505$9,052$8,623$8,216$6,641
6 years$8,234$7,761$7,316$6,896$6,501$5,007
7 years$6,987$6,518$6,079$5,669$5,287$3,874
8 years$6,052$5,587$5,156$4,756$4,386$3,052
9 years$5,325$4,864$4,441$4,051$3,694$2,438
10 years$4,744$4,288$3,871$3,492$3,147$1,967
11 years$4,269$3,817$3,408$3,039$2,707$1,599
12 years$3,873$3,426$3,025$2,666$2,346$1,309
13 years$3,538$3,096$2,702$2,353$2,045$1,076
14 years$3,252$2,814$2,428$2,089$1,793$889
15 years$3,004$2,571$2,192$1,863$1,579$736
16 years$2,787$2,359$1,988$1,668$1,395$611
17 years$2,596$2,172$1,809$1,499$1,237$509
18 years$2,426$2,007$1,651$1,351$1,100$424
19 years$2,274$1,860$1,511$1,221$980$354
20 years$2,138$1,729$1,387$1,105$876$296
21 years$2,015$1,610$1,276$1,003$784$248
22 years$1,903$1,503$1,176$912$702$207
23 years$1,801$1,406$1,086$831$631$174
24 years$1,707$1,317$1,004$758$567$146
25 years$1,622$1,236$930$692$510$122
26 years$1,543$1,162$863$633$459$103
27 years$1,470$1,093$801$579$414$86
28 years$1,402$1,030$745$531$374$72
29 years$1,339$972$693$487$337$61
30 years$1,280$918$645$447$305$51
31 years$1,226$868$602$410$276$43
32 years$1,174$821$561$377$249$36
33 years$1,126$778$524$347$226$30
34 years$1,081$737$490$319$204$25
35 years$1,039$699$458$294$185$21
36 years$999$663$428$270$168$18
37 years$961$630$401$249$152$15
38 years$926$599$375$230$138$13
39 years$892$569$352$212$125$11
40 years$860$542$330$195$113$9
41 years$830$516$309$180$103$8
42 years$801$491$290$166$93$6
43 years$773$468$272$153$85$5
44 years$747$446$255$142$77$4
45 years$722$425$240$131$70$4
46 years$699$406$225$121$63$3
47 years$676$387$212$112$58$3
48 years$655$370$199$103$52$2
49 years$634$353$187$95$47$2
50 years$614$337$176$88$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $629,000, adding $2,451 every year, while hoping to spend $44,521 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: 42/44/14 Blend
61$629,000$629,000$629,000$629,000
62$695,686$662,349$652,600$721,955
63$719,276$647,434$627,092$725,746
64$743,780$630,296$599,237$725,250
65$769,244$610,780$568,910$723,746
66$795,718$588,719$535,980$721,162
67$823,255$563,940$500,309$717,422
68$851,911$536,257$461,753$712,446
69$881,748$505,475$420,164$706,151
70$912,831$471,388$375,383$698,449
71$945,230$433,776$327,249$689,248
72$979,021$392,409$275,590$678,452
73$1,014,287$347,043$220,228$665,961
74$1,051,115$297,419$160,976$651,670
75$1,089,601$243,264$97,641$635,468
76$1,129,847$184,291$30,019$617,241
77$1,171,965$120,195$0$596,870
78$1,216,076$50,655$0$580,526
79$1,262,310$0$0$566,979
80$1,310,809$0$0$563,584
81$1,361,727$0$0$585,793
82$1,415,231$0$0$609,156
83$1,471,502$0$0$633,756
84$1,530,739$0$0$659,683
85$1,593,156$0$0$687,034
86$1,658,986$0$0$715,918
87$1,728,487$0$0$746,449
88$1,801,936$0$0$778,757
89$1,879,636$0$0$812,980
90$1,961,920$0$0$849,269
91$2,049,149$0$0$887,790
92$2,141,720$0$0$928,725
93$2,240,065$0$0$972,273
94$2,344,658$0$0$1,018,651
95$2,456,017$0$0$1,068,096
96$2,574,708$0$0$1,120,868
97$2,701,354$0$0$1,177,255
98$2,836,634$0$0$1,237,567
99$2,981,295$0$0$1,302,149
100$3,136,155$0$0$1,371,376