Can I retire at age 62 with 639,000?

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 $639,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$52,768$52,298$51,839$51,392$50,955$49,147
2 years$26,123$25,636$25,165$24,708$24,264$22,462
3 years$17,242$16,754$16,283$15,830$15,394$13,654
4 years$12,803$12,316$11,850$11,405$10,979$9,315
5 years$10,140$9,656$9,196$8,760$8,346$6,762
6 years$8,365$7,885$7,432$7,005$6,604$5,101
7 years$7,098$6,621$6,176$5,760$5,371$3,949
8 years$6,148$5,676$5,238$4,832$4,456$3,113
9 years$5,410$4,942$4,511$4,115$3,752$2,488
10 years$4,819$4,356$3,933$3,548$3,197$2,009
11 years$4,336$3,878$3,463$3,087$2,750$1,635
12 years$3,934$3,481$3,073$2,708$2,383$1,338
13 years$3,594$3,145$2,745$2,391$2,078$1,101
14 years$3,303$2,859$2,467$2,122$1,821$910
15 years$3,051$2,612$2,227$1,893$1,604$754
16 years$2,831$2,396$2,019$1,695$1,417$627
17 years$2,637$2,207$1,837$1,523$1,257$522
18 years$2,464$2,039$1,677$1,372$1,117$435
19 years$2,310$1,890$1,536$1,240$996$364
20 years$2,172$1,756$1,409$1,123$890$304
21 years$2,047$1,636$1,296$1,019$796$255
22 years$1,933$1,527$1,195$927$714$214
23 years$1,829$1,428$1,103$844$641$179
24 years$1,735$1,338$1,020$770$576$150
25 years$1,647$1,256$945$703$518$126
26 years$1,567$1,180$876$643$467$106
27 years$1,493$1,111$814$588$421$89
28 years$1,424$1,047$756$539$380$75
29 years$1,360$987$704$494$343$63
30 years$1,301$932$656$454$310$53
31 years$1,245$882$611$417$280$45
32 years$1,193$834$570$383$253$37
33 years$1,144$790$533$352$229$31
34 years$1,099$749$498$324$208$26
35 years$1,055$710$465$298$188$22
36 years$1,015$674$435$275$170$19
37 years$977$640$407$253$154$16
38 years$940$608$381$233$140$13
39 years$906$578$357$215$127$11
40 years$874$550$335$198$115$9
41 years$843$524$314$183$104$8
42 years$814$499$295$169$95$7
43 years$786$475$276$156$86$6
44 years$759$453$260$144$78$5
45 years$734$432$244$133$71$4
46 years$710$412$229$123$64$3
47 years$687$393$215$113$58$3
48 years$665$376$202$105$53$2
49 years$644$359$190$97$48$2
50 years$624$343$179$90$44$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $639,000, adding $5,894 every year, while hoping to spend $41,308 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: 65/16/19 Blend
61$639,000$639,000$639,000$639,000
62$710,258$676,391$666,486$752,668
63$738,753$665,582$644,862$771,046
64$768,769$652,860$621,129$785,863
65$800,420$638,086$595,173$801,073
66$833,826$621,116$566,874$816,715
67$869,120$601,794$536,108$832,834
68$906,446$579,958$502,744$849,481
69$945,963$555,435$466,645$866,712
70$987,843$528,043$427,670$884,594
71$1,032,275$497,589$385,668$903,200
72$1,079,464$463,869$340,486$922,613
73$1,129,637$426,665$291,959$942,926
74$1,183,039$385,751$239,919$964,244
75$1,239,941$340,885$184,188$986,685
76$1,300,638$291,811$124,582$1,010,383
77$1,365,454$238,261$60,906$1,035,487
78$1,434,745$179,950$0$1,062,162
79$1,508,898$116,577$0$1,092,026
80$1,588,341$47,825$0$1,137,128
81$1,673,542$0$0$1,185,387
82$1,765,013$0$0$1,241,802
83$1,863,319$0$0$1,311,510
84$1,969,078$0$0$1,386,535
85$2,082,969$0$0$1,467,361
86$2,205,737$0$0$1,554,523
87$2,338,203$0$0$1,648,607
88$2,481,265$0$0$1,750,256
89$2,635,914$0$0$1,860,178
90$2,803,236$0$0$1,979,151
91$2,984,426$0$0$2,108,030
92$3,180,799$0$0$2,247,756
93$3,393,798$0$0$2,399,362
94$3,625,013$0$0$2,563,985
95$3,876,191$0$0$2,742,876
96$4,149,254$0$0$2,937,411
97$4,446,316$0$0$3,149,104
98$4,769,705$0$0$3,379,620
99$5,121,980$0$0$3,630,792
100$5,505,959$0$0$3,904,636