Can I retire at age 62 with 642,000?

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 $642,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$53,016$52,544$52,083$51,633$51,194$50,935
2 years$26,245$25,757$25,283$24,824$24,378$24,117
3 years$17,323$16,832$16,360$15,905$15,466$15,211
4 years$12,863$12,373$11,906$11,458$11,031$10,783
5 years$10,187$9,701$9,239$8,801$8,385$8,146
6 years$8,404$7,922$7,467$7,038$6,635$6,405
7 years$7,131$6,653$6,205$5,787$5,396$5,174
8 years$6,177$5,702$5,262$4,854$4,477$4,264
9 years$5,435$4,965$4,532$4,135$3,770$3,566
10 years$4,842$4,376$3,951$3,564$3,212$3,017
11 years$4,357$3,896$3,479$3,102$2,763$2,576
12 years$3,953$3,497$3,087$2,721$2,394$2,216
13 years$3,611$3,160$2,758$2,402$2,088$1,917
14 years$3,319$2,873$2,478$2,132$1,830$1,668
15 years$3,066$2,624$2,238$1,902$1,611$1,457
16 years$2,844$2,408$2,029$1,703$1,424$1,277
17 years$2,649$2,217$1,846$1,530$1,263$1,123
18 years$2,476$2,049$1,685$1,379$1,123$991
19 years$2,321$1,899$1,543$1,246$1,001$875
20 years$2,182$1,765$1,416$1,128$894$775
21 years$2,056$1,644$1,302$1,024$800$688
22 years$1,942$1,534$1,200$931$717$611
23 years$1,838$1,435$1,108$848$644$544
24 years$1,743$1,344$1,025$773$578$484
25 years$1,655$1,262$949$706$521$432
26 years$1,575$1,186$880$646$469$385
27 years$1,500$1,116$818$591$423$344
28 years$1,431$1,052$760$542$381$308
29 years$1,367$992$707$497$344$275
30 years$1,307$937$659$456$311$246
31 years$1,251$886$614$419$281$221
32 years$1,199$838$573$385$255$198
33 years$1,150$794$535$354$230$177
34 years$1,104$752$500$326$209$159
35 years$1,060$713$467$300$189$142
36 years$1,020$677$437$276$171$128
37 years$981$643$409$254$155$115
38 years$945$611$383$234$141$103
39 years$910$581$359$216$128$92
40 years$878$553$337$199$116$83
41 years$847$526$316$184$105$74
42 years$817$501$296$170$95$67
43 years$789$478$278$157$86$60
44 years$763$455$261$145$78$54
45 years$737$434$245$134$71$48
46 years$713$414$230$123$65$44
47 years$690$395$216$114$59$39
48 years$668$377$203$105$53$35
49 years$647$360$191$97$48$32
50 years$627$344$179$90$44$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $642,000, adding $5,780 every year, while hoping to spend $22,867 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: 33/41/26 Blend
61$642,000$642,000$642,000$642,000
62$713,446$679,420$669,469$731,184
63$761,887$688,381$667,566$754,035
64$814,503$697,015$664,833$776,196
65$871,695$705,282$661,217$799,628
66$933,905$713,138$656,665$824,458
67$1,001,620$720,538$651,120$850,828
68$1,075,374$727,433$644,521$878,896
69$1,155,755$733,770$636,806$908,836
70$1,243,413$739,496$627,909$940,843
71$1,339,059$744,549$617,762$975,132
72$1,443,479$748,868$606,293$1,011,942
73$1,557,536$752,385$593,427$1,051,539
74$1,682,183$755,030$579,085$1,094,217
75$1,818,465$756,726$563,184$1,140,301
76$1,967,536$757,393$545,638$1,190,154
77$2,130,666$756,946$526,358$1,244,176
78$2,309,251$755,294$505,248$1,302,812
79$2,504,832$752,341$482,211$1,366,553
80$2,719,104$747,984$457,144$1,435,944
81$2,953,932$742,115$429,938$1,511,588
82$3,211,374$734,619$400,482$1,594,154
83$3,493,693$725,375$368,657$1,684,380
84$3,803,383$714,252$334,341$1,783,087
85$4,143,192$701,114$297,405$1,891,178
86$4,516,146$685,817$257,716$2,009,656
87$4,925,576$668,205$215,133$2,139,631
88$5,375,155$648,117$169,510$2,282,327
89$5,868,927$625,381$120,695$2,439,100
90$6,411,347$599,815$68,527$2,611,450
91$7,007,324$571,224$12,842$2,801,034
92$7,662,263$539,407$0$3,009,683
93$8,382,123$504,147$0$3,252,347
94$9,173,465$465,215$0$3,522,982
95$10,043,519$422,371$0$3,820,546
96$11,000,251$375,361$0$4,147,826
97$12,052,437$323,914$0$4,507,897
98$13,209,746$267,746$0$4,904,153
99$14,482,831$206,557$0$5,340,338
100$15,883,430$140,029$0$5,820,584