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%11.9%
1 years$52,025$51,561$51,109$50,668$50,237$49,837
2 years$25,755$25,275$24,810$24,360$23,922$23,519
3 years$16,999$16,518$16,054$15,607$15,177$14,783
4 years$12,622$12,142$11,683$11,244$10,825$10,443
5 years$9,997$9,520$9,067$8,637$8,229$7,860
6 years$8,247$7,773$7,327$6,907$6,511$6,157
7 years$6,998$6,528$6,089$5,678$5,295$4,955
8 years$6,061$5,596$5,164$4,764$4,393$4,067
9 years$5,333$4,872$4,448$4,057$3,699$3,387
10 years$4,751$4,295$3,878$3,498$3,152$2,854
11 years$4,275$3,823$3,414$3,044$2,711$2,426
12 years$3,879$3,432$3,030$2,670$2,349$2,078
13 years$3,544$3,101$2,707$2,357$2,049$1,790
14 years$3,257$2,819$2,432$2,092$1,796$1,550
15 years$3,008$2,575$2,196$1,866$1,581$1,348
16 years$2,791$2,363$1,991$1,671$1,397$1,176
17 years$2,600$2,176$1,812$1,501$1,239$1,029
18 years$2,430$2,011$1,654$1,353$1,102$903
19 years$2,278$1,863$1,514$1,222$982$794
20 years$2,141$1,732$1,389$1,107$877$700
21 years$2,018$1,613$1,278$1,005$785$618
22 years$1,906$1,506$1,178$914$704$546
23 years$1,804$1,408$1,088$832$632$483
24 years$1,710$1,319$1,006$759$568$428
25 years$1,624$1,238$932$693$511$380
26 years$1,545$1,164$864$634$460$337
27 years$1,472$1,095$802$580$415$299
28 years$1,404$1,032$746$531$374$266
29 years$1,341$973$694$487$338$237
30 years$1,282$919$646$447$305$211
31 years$1,228$869$603$411$276$187
32 years$1,176$822$562$378$250$167
33 years$1,128$779$525$347$226$149
34 years$1,083$738$491$319$205$133
35 years$1,041$700$459$294$185$118
36 years$1,001$664$429$271$168$105
37 years$963$631$402$250$152$94
38 years$927$600$376$230$138$84
39 years$893$570$352$212$125$75
40 years$861$543$330$196$114$67
41 years$831$517$310$180$103$60
42 years$802$492$290$167$93$53
43 years$775$469$273$154$85$48
44 years$749$447$256$142$77$42
45 years$724$426$240$131$70$38
46 years$700$406$226$121$63$34
47 years$677$388$212$112$58$30
48 years$656$370$199$103$52$27
49 years$635$354$187$96$48$24
50 years$615$338$176$88$43$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $630,000, adding $6,305 every year, while hoping to spend $40,631 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: 45/45/10 Blend
61$630,000$630,000$630,000$630,000
62$700,764$667,374$657,609$730,043
63$729,010$656,844$636,407$740,434
64$758,777$644,436$613,134$747,030
65$790,174$630,016$587,677$753,263
66$823,326$613,441$559,917$759,112
67$858,364$594,558$529,734$764,561
68$895,434$573,209$496,997$769,593
69$934,696$549,223$461,574$774,193
70$976,322$522,422$423,323$778,347
71$1,020,501$492,616$382,099$782,046
72$1,067,442$459,603$337,749$785,282
73$1,117,371$423,173$290,113$788,049
74$1,170,535$383,101$239,025$790,350
75$1,227,206$339,150$184,309$792,188
76$1,287,683$291,070$125,785$793,574
77$1,352,290$238,595$63,262$794,526
78$1,421,384$181,448$0$795,068
79$1,495,358$119,331$0$795,602
80$1,574,640$51,934$0$803,032
81$1,659,702$0$0$810,678
82$1,751,061$0$0$829,066
83$1,849,283$0$0$876,537
84$1,954,991$0$0$927,681
85$2,068,870$0$0$982,837
86$2,191,671$0$0$1,042,376
87$2,324,218$0$0$1,106,705
88$2,467,418$0$0$1,176,273
89$2,622,268$0$0$1,251,572
90$2,789,862$0$0$1,333,145
91$2,971,405$0$0$1,421,586
92$3,168,220$0$0$1,517,550
93$3,381,763$0$0$1,621,759
94$3,613,634$0$0$1,735,003
95$3,865,594$0$0$1,858,155
96$4,139,581$0$0$1,992,173
97$4,437,724$0$0$2,138,112
98$4,762,369$0$0$2,297,133
99$5,116,096$0$0$2,470,513
100$5,501,744$0$0$2,659,660