Can I retire at age 62 with 630,000?

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 $630,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$52,025$51,561$51,109$50,668$50,237$49,733
2 years$25,755$25,275$24,810$24,360$23,922$23,415
3 years$16,999$16,518$16,054$15,607$15,177$14,682
4 years$12,622$12,142$11,683$11,244$10,825$10,345
5 years$9,997$9,520$9,067$8,637$8,229$7,767
6 years$8,247$7,773$7,327$6,907$6,511$6,067
7 years$6,998$6,528$6,089$5,678$5,295$4,869
8 years$6,061$5,596$5,164$4,764$4,393$3,985
9 years$5,333$4,872$4,448$4,057$3,699$3,309
10 years$4,751$4,295$3,878$3,498$3,152$2,780
11 years$4,275$3,823$3,414$3,044$2,711$2,356
12 years$3,879$3,432$3,030$2,670$2,349$2,011
13 years$3,544$3,101$2,707$2,357$2,049$1,727
14 years$3,257$2,819$2,432$2,092$1,796$1,491
15 years$3,008$2,575$2,196$1,866$1,581$1,292
16 years$2,791$2,363$1,991$1,671$1,397$1,123
17 years$2,600$2,176$1,812$1,501$1,239$980
18 years$2,430$2,011$1,654$1,353$1,102$857
19 years$2,278$1,863$1,514$1,222$982$751
20 years$2,141$1,732$1,389$1,107$877$659
21 years$2,018$1,613$1,278$1,005$785$579
22 years$1,906$1,506$1,178$914$704$510
23 years$1,804$1,408$1,088$832$632$450
24 years$1,710$1,319$1,006$759$568$397
25 years$1,624$1,238$932$693$511$351
26 years$1,545$1,164$864$634$460$310
27 years$1,472$1,095$802$580$415$274
28 years$1,404$1,032$746$531$374$243
29 years$1,341$973$694$487$338$215
30 years$1,282$919$646$447$305$191
31 years$1,228$869$603$411$276$169
32 years$1,176$822$562$378$250$150
33 years$1,128$779$525$347$226$133
34 years$1,083$738$491$319$205$118
35 years$1,041$700$459$294$185$105
36 years$1,001$664$429$271$168$93
37 years$963$631$402$250$152$83
38 years$927$600$376$230$138$73
39 years$893$570$352$212$125$65
40 years$861$543$330$196$114$58
41 years$831$517$310$180$103$52
42 years$802$492$290$167$93$46
43 years$775$469$273$154$85$41
44 years$749$447$256$142$77$36
45 years$724$426$240$131$70$32
46 years$700$406$226$121$63$29
47 years$677$388$212$112$58$25
48 years$656$370$199$103$52$23
49 years$635$354$187$96$48$20
50 years$615$338$176$88$43$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $630,000, adding $3,691 every year, while hoping to spend $27,522 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: 34/39/27 Blend
61$630,000$630,000$630,000$630,000
62$698,067$664,677$654,912$715,989
63$739,987$667,963$647,569$733,070
64$785,260$670,488$639,057$748,748
65$834,199$672,185$629,308$765,118
66$887,149$672,983$618,251$782,261
67$944,488$672,808$605,812$800,265
68$1,006,630$671,581$591,911$819,233
69$1,074,034$669,216$576,468$839,279
70$1,147,202$665,624$559,396$860,530
71$1,226,687$660,710$540,607$883,130
72$1,313,098$654,374$520,005$907,240
73$1,407,103$646,507$497,494$933,038
74$1,509,438$636,997$472,971$960,727
75$1,620,915$625,723$446,330$990,530
76$1,742,423$612,559$417,457$1,022,698
77$1,874,945$597,369$386,237$1,057,512
78$2,019,561$580,011$352,547$1,095,284
79$2,177,458$560,334$316,259$1,136,361
80$2,349,946$538,177$277,241$1,181,131
81$2,538,464$513,372$235,352$1,230,027
82$2,744,600$485,740$190,449$1,283,528
83$2,970,098$455,090$142,378$1,342,170
84$3,216,883$421,224$90,982$1,406,546
85$3,487,070$383,929$36,095$1,477,317
86$3,782,991$342,981$0$1,555,217
87$4,107,213$298,145$0$1,647,537
88$4,462,565$249,170$0$1,760,224
89$4,852,159$195,792$0$1,883,927
90$5,279,426$137,733$0$2,019,816
91$5,748,144$74,697$0$2,169,186
92$6,262,472$6,375$0$2,333,468
93$6,826,994$0$0$2,514,244
94$7,446,759$0$0$2,742,259
95$8,127,327$0$0$2,995,746
96$8,874,825$0$0$3,274,262
97$9,696,000$0$0$3,580,335
98$10,598,288$0$0$3,916,748
99$11,589,877$0$0$4,286,569
100$12,679,792$0$0$4,693,177