Can I retire at age 62 with 641,000?

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 $641,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$52,933$52,462$52,002$51,553$51,114$50,686
2 years$26,205$25,717$25,244$24,785$24,340$23,908
3 years$17,296$16,806$16,334$15,880$15,442$15,021
4 years$12,843$12,354$11,887$11,441$11,014$10,605
5 years$10,172$9,686$9,225$8,787$8,372$7,978
6 years$8,391$7,909$7,455$7,027$6,625$6,246
7 years$7,120$6,642$6,195$5,778$5,388$5,024
8 years$6,167$5,694$5,254$4,847$4,470$4,121
9 years$5,426$4,957$4,525$4,128$3,764$3,430
10 years$4,834$4,370$3,945$3,559$3,207$2,888
11 years$4,350$3,890$3,473$3,097$2,758$2,454
12 years$3,947$3,491$3,083$2,717$2,390$2,100
13 years$3,606$3,155$2,754$2,398$2,084$1,808
14 years$3,314$2,868$2,474$2,129$1,827$1,565
15 years$3,061$2,620$2,234$1,899$1,609$1,360
16 years$2,840$2,404$2,026$1,700$1,422$1,186
17 years$2,645$2,214$1,843$1,527$1,261$1,037
18 years$2,472$2,046$1,683$1,377$1,121$909
19 years$2,318$1,896$1,540$1,244$999$799
20 years$2,179$1,762$1,414$1,127$892$703
21 years$2,053$1,641$1,300$1,022$799$620
22 years$1,939$1,532$1,198$930$716$548
23 years$1,835$1,433$1,107$847$643$485
24 years$1,740$1,342$1,023$772$578$429
25 years$1,653$1,260$948$705$520$380
26 years$1,572$1,184$879$645$468$337
27 years$1,498$1,114$816$590$422$299
28 years$1,429$1,050$759$541$381$266
29 years$1,365$990$706$496$344$236
30 years$1,305$935$658$455$311$210
31 years$1,249$884$613$418$281$187
32 years$1,197$837$572$384$254$166
33 years$1,148$792$534$353$230$148
34 years$1,102$751$499$325$208$132
35 years$1,059$712$467$299$189$117
36 years$1,018$676$437$276$171$105
37 years$980$642$409$254$155$93
38 years$943$610$383$234$140$83
39 years$909$580$358$216$127$74
40 years$876$552$336$199$115$66
41 years$845$526$315$184$105$59
42 years$816$500$296$169$95$53
43 years$788$477$277$156$86$47
44 years$762$455$260$144$78$42
45 years$736$433$244$133$71$37
46 years$712$414$230$123$65$33
47 years$689$395$216$114$59$30
48 years$667$377$203$105$53$27
49 years$646$360$191$97$48$24
50 years$626$344$179$90$44$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $641,000, adding $5,642 every year, while hoping to spend $32,150 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: 51/42/7 Blend
61$641,000$641,000$641,000$641,000
62$712,202$678,229$668,293$746,997
63$750,639$677,255$656,474$770,315
64$791,919$675,155$643,181$791,710
65$836,299$671,841$628,331$814,201
66$884,058$667,219$611,837$837,899
67$935,507$661,187$593,608$862,926
68$990,983$653,640$573,549$889,420
69$1,050,860$644,465$551,559$917,533
70$1,115,546$633,542$527,535$947,435
71$1,185,492$620,745$501,367$979,315
72$1,261,190$605,941$472,942$1,013,384
73$1,343,186$588,986$442,139$1,049,875
74$1,432,076$569,731$408,836$1,089,051
75$1,528,517$548,017$372,901$1,131,200
76$1,633,232$523,676$334,199$1,176,645
77$1,747,015$496,530$292,588$1,225,743
78$1,870,740$466,390$247,920$1,278,893
79$2,005,370$433,057$200,040$1,336,537
80$2,151,962$396,321$148,785$1,399,164
81$2,311,681$355,959$93,988$1,467,319
82$2,485,808$311,737$35,472$1,541,606
83$2,675,753$263,405$0$1,622,695
84$2,883,069$210,701$0$1,713,344
85$3,109,465$153,348$0$1,815,320
86$3,356,822$91,053$0$1,926,899
87$3,627,210$23,507$0$2,049,108
88$3,922,909$0$0$2,183,086
89$4,246,429$0$0$2,353,022
90$4,600,536$0$0$2,550,980
91$4,988,271$0$0$2,767,805
92$5,412,988$0$0$3,005,379
93$5,878,378$0$0$3,265,778
94$6,388,505$0$0$3,551,282
95$6,947,847$0$0$3,864,409
96$7,561,334$0$0$4,207,928
97$8,234,399$0$0$4,584,891
98$8,973,023$0$0$4,998,658
99$9,783,797$0$0$5,452,931
100$10,673,978$0$0$5,951,790