Can I retire at age 62 with 631,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $631,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$52,107$51,643$51,190$50,748$50,317$49,854
2 years$25,796$25,315$24,850$24,398$23,960$23,494
3 years$17,026$16,544$16,079$15,632$15,201$14,746
4 years$12,642$12,161$11,702$11,262$10,842$10,401
5 years$10,013$9,535$9,081$8,650$8,242$7,816
6 years$8,260$7,786$7,339$6,918$6,521$6,112
7 years$7,009$6,539$6,099$5,687$5,304$4,911
8 years$6,071$5,605$5,172$4,771$4,400$4,024
9 years$5,342$4,880$4,455$4,064$3,705$3,346
10 years$4,759$4,301$3,884$3,503$3,157$2,814
11 years$4,282$3,829$3,419$3,049$2,715$2,388
12 years$3,885$3,437$3,034$2,674$2,353$2,041
13 years$3,549$3,106$2,711$2,361$2,052$1,755
14 years$3,262$2,823$2,436$2,096$1,799$1,516
15 years$3,013$2,579$2,199$1,869$1,584$1,316
16 years$2,796$2,366$1,994$1,674$1,400$1,146
17 years$2,604$2,179$1,814$1,504$1,241$1,001
18 years$2,434$2,014$1,656$1,355$1,103$876
19 years$2,281$1,866$1,516$1,224$984$769
20 years$2,145$1,734$1,392$1,109$879$676
21 years$2,021$1,615$1,280$1,006$786$595
22 years$1,909$1,508$1,180$915$705$525
23 years$1,806$1,410$1,089$833$633$464
24 years$1,713$1,321$1,007$760$569$410
25 years$1,627$1,240$933$694$512$363
26 years$1,548$1,165$865$635$461$321
27 years$1,474$1,097$804$581$415$285
28 years$1,406$1,034$747$532$375$252
29 years$1,343$975$695$488$339$224
30 years$1,284$921$648$448$306$199
31 years$1,230$870$604$411$277$176
32 years$1,178$824$563$378$250$157
33 years$1,130$780$526$348$226$139
34 years$1,085$739$491$320$205$124
35 years$1,042$701$459$295$186$110
36 years$1,002$666$430$271$168$98
37 years$964$632$402$250$152$87
38 years$929$601$377$230$138$78
39 years$895$571$353$212$125$69
40 years$863$543$331$196$114$61
41 years$832$517$310$181$103$55
42 years$803$493$291$167$94$49
43 years$776$469$273$154$85$43
44 years$750$447$256$142$77$39
45 years$725$427$241$131$70$34
46 years$701$407$226$121$64$31
47 years$678$388$212$112$58$27
48 years$657$371$200$104$52$24
49 years$636$354$188$96$48$22
50 years$616$338$176$88$43$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $631,000, adding $6,114 every year, while hoping to spend $35,522 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: 66/23/11 Blend
61$631,000$631,000$631,000$631,000
62$701,669$668,226$658,445$745,897
63$735,444$663,174$642,708$771,083
64$771,473$656,683$625,253$793,835
65$809,950$648,647$605,985$817,792
66$851,084$638,950$584,805$843,066
67$895,108$627,472$561,609$869,787
68$942,274$614,083$536,288$898,093
69$992,861$598,648$508,729$928,144
70$1,047,173$581,023$478,812$960,111
71$1,105,546$561,054$446,414$994,187
72$1,168,348$538,582$411,404$1,030,588
73$1,235,981$513,434$373,648$1,069,549
74$1,308,890$485,431$333,004$1,111,333
75$1,387,561$454,381$289,323$1,156,232
76$1,472,528$420,082$242,452$1,204,569
77$1,564,381$382,321$192,229$1,256,702
78$1,663,765$340,872$138,486$1,313,027
79$1,771,390$295,495$81,046$1,373,983
80$1,888,037$245,940$19,727$1,440,057
81$2,014,566$191,940$0$1,511,787
82$2,151,920$133,213$0$1,595,134
83$2,301,137$69,462$0$1,688,215
84$2,463,361$374$0$1,789,465
85$2,639,849$0$0$1,899,720
86$2,831,982$0$0$2,038,725
87$3,041,284$0$0$2,190,292
88$3,269,428$0$0$2,355,543
89$3,518,258$0$0$2,535,817
90$3,789,802$0$0$2,732,589
91$4,086,293$0$0$2,947,483
92$4,410,189$0$0$3,182,285
93$4,764,196$0$0$3,438,964
94$5,151,293$0$0$3,719,684
95$5,574,760$0$0$4,026,830
96$6,038,208$0$0$4,363,030
97$6,545,616$0$0$4,731,174
98$7,101,361$0$0$5,134,447
99$7,710,267$0$0$5,576,355
100$8,377,646$0$0$6,060,762