Can I retire at age 62 with 640,000?

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 $640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$52,851$52,380$51,921$51,472$51,034$50,189
2 years$26,164$25,676$25,204$24,746$24,302$23,453
3 years$17,269$16,780$16,309$15,855$15,418$14,592
4 years$12,823$12,335$11,869$11,423$10,996$10,199
5 years$10,156$9,671$9,211$8,774$8,359$7,593
6 years$8,378$7,897$7,443$7,016$6,614$5,880
7 years$7,109$6,632$6,186$5,769$5,379$4,677
8 years$6,158$5,685$5,246$4,839$4,463$3,793
9 years$5,418$4,950$4,518$4,122$3,758$3,120
10 years$4,827$4,363$3,939$3,553$3,202$2,595
11 years$4,343$3,884$3,468$3,092$2,754$2,178
12 years$3,941$3,486$3,078$2,712$2,387$1,840
13 years$3,600$3,150$2,750$2,395$2,081$1,564
14 years$3,309$2,864$2,471$2,126$1,824$1,335
15 years$3,056$2,616$2,231$1,896$1,606$1,145
16 years$2,835$2,400$2,022$1,697$1,420$984
17 years$2,641$2,210$1,840$1,525$1,259$849
18 years$2,468$2,042$1,680$1,374$1,119$734
19 years$2,314$1,893$1,538$1,242$998$636
20 years$2,175$1,759$1,411$1,125$891$551
21 years$2,050$1,638$1,298$1,021$797$479
22 years$1,936$1,529$1,197$928$715$417
23 years$1,832$1,430$1,105$845$642$363
24 years$1,737$1,340$1,022$771$577$316
25 years$1,650$1,258$946$704$519$276
26 years$1,570$1,182$878$644$467$241
27 years$1,495$1,112$815$589$421$210
28 years$1,426$1,048$758$540$380$184
29 years$1,362$989$705$495$343$161
30 years$1,303$934$657$454$310$141
31 years$1,247$883$612$417$280$123
32 years$1,195$835$571$384$254$108
33 years$1,146$791$533$353$230$94
34 years$1,100$750$498$324$208$83
35 years$1,057$711$466$299$188$72
36 years$1,016$675$436$275$171$63
37 years$978$641$408$253$155$56
38 years$942$609$382$234$140$49
39 years$908$579$358$215$127$43
40 years$875$551$335$199$115$37
41 years$844$525$315$183$105$33
42 years$815$500$295$169$95$29
43 years$787$476$277$156$86$25
44 years$760$454$260$144$78$22
45 years$735$433$244$133$71$19
46 years$711$413$229$123$64$17
47 years$688$394$215$114$59$15
48 years$666$376$202$105$53$13
49 years$645$359$190$97$48$11
50 years$625$343$179$90$44$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $640,000, adding $5,453 every year, while hoping to spend $33,942 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: 31/44/25 Blend
61$640,000$640,000$640,000$640,000
62$710,905$676,985$667,065$727,335
63$747,303$674,043$653,297$737,424
64$786,276$669,819$637,931$744,888
65$828,051$664,216$620,877$752,239
66$872,877$657,127$602,041$759,488
67$921,027$648,442$581,325$766,653
68$972,800$638,044$558,628$773,755
69$1,028,525$625,808$533,842$780,822
70$1,088,564$611,602$506,855$787,887
71$1,153,314$595,287$477,551$794,992
72$1,223,210$576,714$445,807$802,185
73$1,298,732$555,727$411,496$809,526
74$1,380,406$532,161$374,484$817,082
75$1,468,810$505,840$334,632$824,936
76$1,564,581$476,578$291,795$833,181
77$1,668,418$444,180$245,820$841,926
78$1,781,091$408,439$196,549$851,298
79$1,903,444$369,135$143,815$861,442
80$2,036,410$326,037$87,447$872,524
81$2,181,010$278,899$27,263$884,734
82$2,338,371$227,463$0$898,289
83$2,509,733$171,457$0$923,296
84$2,696,458$110,591$0$958,575
85$2,900,047$44,560$0$997,219
86$3,122,152$0$0$1,039,642
87$3,364,590$0$0$1,099,360
88$3,629,362$0$0$1,188,235
89$3,918,670$0$0$1,285,442
90$4,234,940$0$0$1,391,809
91$4,580,842$0$0$1,508,245
92$4,959,314$0$0$1,635,754
93$5,373,594$0$0$1,775,439
94$5,827,246$0$0$1,928,517
95$6,324,195$0$0$2,096,326
96$6,868,765$0$0$2,280,341
97$7,465,714$0$0$2,482,187
98$8,120,287$0$0$2,703,652
99$8,838,258$0$0$2,946,708
100$9,625,988$0$0$3,213,525