Can I retire at age 62 with 638,000?

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 $638,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$52,685$52,216$51,758$51,311$50,875$49,848
2 years$26,082$25,596$25,125$24,669$24,226$23,196
3 years$17,215$16,727$16,258$15,806$15,370$14,369
4 years$12,783$12,296$11,832$11,387$10,962$9,997
5 years$10,124$9,641$9,182$8,746$8,333$7,408
6 years$8,352$7,872$7,420$6,995$6,594$5,709
7 years$7,087$6,611$6,166$5,751$5,363$4,518
8 years$6,138$5,667$5,229$4,824$4,449$3,645
9 years$5,401$4,934$4,504$4,109$3,746$2,982
10 years$4,812$4,349$3,927$3,542$3,192$2,467
11 years$4,330$3,872$3,457$3,083$2,745$2,059
12 years$3,928$3,475$3,068$2,704$2,379$1,729
13 years$3,589$3,140$2,741$2,387$2,075$1,461
14 years$3,298$2,855$2,463$2,119$1,819$1,240
15 years$3,047$2,608$2,224$1,890$1,601$1,056
16 years$2,827$2,393$2,016$1,692$1,415$903
17 years$2,633$2,203$1,835$1,520$1,255$773
18 years$2,461$2,036$1,675$1,370$1,116$664
19 years$2,307$1,887$1,533$1,238$994$571
20 years$2,168$1,754$1,407$1,121$888$492
21 years$2,043$1,633$1,294$1,018$795$425
22 years$1,930$1,525$1,193$925$713$367
23 years$1,827$1,426$1,101$843$640$317
24 years$1,732$1,336$1,019$769$575$275
25 years$1,645$1,254$943$702$517$238
26 years$1,565$1,178$875$642$466$206
27 years$1,491$1,109$812$587$420$179
28 years$1,422$1,045$755$538$379$155
29 years$1,358$986$703$494$342$135
30 years$1,299$931$655$453$309$117
31 years$1,243$880$610$416$280$102
32 years$1,191$833$569$382$253$88
33 years$1,143$789$532$352$229$77
34 years$1,097$747$497$323$207$67
35 years$1,054$709$464$298$188$58
36 years$1,013$673$435$274$170$50
37 years$975$639$407$253$154$44
38 years$939$607$381$233$140$38
39 years$905$578$357$215$127$33
40 years$872$549$334$198$115$29
41 years$841$523$314$183$104$25
42 years$812$498$294$169$95$22
43 years$784$475$276$156$86$19
44 years$758$452$259$144$78$17
45 years$733$431$243$133$71$14
46 years$709$412$229$123$64$12
47 years$686$393$215$113$58$11
48 years$664$375$202$105$53$9
49 years$643$358$190$97$48$8
50 years$623$342$178$89$44$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $638,000, adding $2,144 every year, while hoping to spend $41,762 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: 63/24/13 Blend
61$638,000$638,000$638,000$638,000
62$705,288$671,474$661,585$747,413
63$732,792$659,941$639,313$764,362
64$761,703$646,444$614,896$777,867
65$792,119$630,842$588,217$791,587
66$824,148$612,986$559,155$805,543
67$857,908$592,719$527,584$819,761
68$893,526$569,875$493,370$834,268
69$931,144$544,276$456,375$849,101
70$970,912$515,737$416,456$864,298
71$1,012,998$484,061$373,460$879,904
72$1,057,582$449,039$327,229$895,973
73$1,104,864$410,450$277,600$912,565
74$1,155,060$368,062$224,399$929,748
75$1,208,407$321,628$167,448$947,601
76$1,265,165$270,888$106,557$966,214
77$1,325,618$215,567$41,533$985,688
78$1,390,075$155,375$0$1,006,139
79$1,458,879$90,004$0$1,031,561
80$1,532,402$19,132$0$1,064,638
81$1,611,052$0$0$1,099,800
82$1,695,279$0$0$1,152,475
83$1,785,574$0$0$1,214,391
84$1,882,476$0$0$1,280,871
85$1,986,578$0$0$1,352,324
86$2,098,529$0$0$1,429,200
87$2,219,042$0$0$1,511,994
88$2,348,901$0$0$1,601,250
89$2,488,967$0$0$1,697,562
90$2,640,185$0$0$1,801,588
91$2,803,593$0$0$1,914,047
92$2,980,333$0$0$2,035,731
93$3,171,660$0$0$2,167,510
94$3,378,953$0$0$2,310,340
95$3,603,730$0$0$2,465,274
96$3,847,657$0$0$2,633,469
97$4,112,570$0$0$2,816,196
98$4,400,487$0$0$3,014,857
99$4,713,626$0$0$3,230,990
100$5,054,431$0$0$3,466,290