Can I retire at age 62 with 643,000?

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 $643,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$53,098$52,625$52,164$51,714$51,274$49,712
2 years$26,286$25,797$25,322$24,862$24,416$22,856
3 years$17,350$16,858$16,385$15,929$15,491$13,981
4 years$12,883$12,393$11,924$11,476$11,048$9,601
5 years$10,203$9,716$9,254$8,815$8,399$7,018
6 years$8,417$7,934$7,478$7,049$6,645$5,332
7 years$7,142$6,663$6,215$5,796$5,405$4,158
8 years$6,186$5,711$5,270$4,862$4,484$3,304
9 years$5,443$4,973$4,539$4,141$3,776$2,661
10 years$4,849$4,383$3,958$3,570$3,217$2,166
11 years$4,364$3,902$3,484$3,107$2,767$1,778
12 years$3,959$3,502$3,092$2,725$2,398$1,468
13 years$3,617$3,165$2,763$2,406$2,091$1,219
14 years$3,324$2,877$2,482$2,136$1,833$1,016
15 years$3,070$2,628$2,241$1,905$1,614$850
16 years$2,849$2,411$2,032$1,705$1,426$713
17 years$2,653$2,221$1,849$1,532$1,265$600
18 years$2,480$2,052$1,688$1,381$1,124$505
19 years$2,325$1,902$1,545$1,248$1,002$426
20 years$2,185$1,767$1,418$1,130$895$360
21 years$2,059$1,646$1,304$1,026$801$305
22 years$1,945$1,537$1,202$933$718$258
23 years$1,841$1,437$1,110$849$645$218
24 years$1,745$1,347$1,027$775$579$185
25 years$1,658$1,264$951$707$521$157
26 years$1,577$1,188$882$647$470$133
27 years$1,502$1,118$819$592$423$113
28 years$1,433$1,053$761$542$382$96
29 years$1,369$994$708$497$345$82
30 years$1,309$938$660$456$312$69
31 years$1,253$887$615$419$282$59
32 years$1,201$839$574$385$255$50
33 years$1,152$795$536$354$231$43
34 years$1,105$753$501$326$209$36
35 years$1,062$715$468$300$189$31
36 years$1,021$678$438$276$171$26
37 years$983$644$410$255$155$22
38 years$946$612$384$235$141$19
39 years$912$582$360$216$128$16
40 years$879$554$337$200$116$14
41 years$848$527$316$184$105$12
42 years$819$502$296$170$95$10
43 years$791$478$278$157$87$8
44 years$764$456$261$145$79$7
45 years$739$435$245$134$71$6
46 years$714$415$230$124$65$5
47 years$691$396$216$114$59$4
48 years$669$378$203$106$53$4
49 years$648$361$191$98$49$3
50 years$628$345$180$90$44$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $643,000, adding $3,879 every year, while hoping to spend $31,907 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: 50/27/23 Blend
61$643,000$643,000$643,000$643,000
62$712,587$678,508$668,542$743,437
63$751,322$677,806$656,989$764,565
64$792,939$676,001$643,980$783,969
65$837,697$673,003$629,432$804,404
66$885,884$668,721$613,259$825,979
67$937,811$663,056$595,370$848,818
68$993,824$655,902$575,672$873,060
69$1,054,302$647,150$554,065$898,858
70$1,119,661$636,680$530,446$926,384
71$1,190,357$624,368$504,707$955,828
72$1,266,894$610,083$476,735$987,403
73$1,349,824$593,683$446,412$1,021,347
74$1,439,755$575,023$413,616$1,057,922
75$1,537,354$553,943$378,216$1,097,423
76$1,643,358$530,279$340,080$1,140,174
77$1,758,572$503,855$299,065$1,186,539
78$1,883,888$474,486$255,025$1,236,921
79$2,020,284$441,975$207,807$1,291,765
80$2,168,835$406,114$157,251$1,351,569
81$2,330,727$366,684$103,189$1,416,883
82$2,507,263$323,453$45,448$1,488,319
83$2,699,877$276,176$0$1,566,554
84$2,910,150$224,594$0$1,656,310
85$3,139,820$168,433$0$1,766,612
86$3,390,800$107,405$0$1,887,266
87$3,665,198$41,204$0$2,019,348
88$3,965,333$0$0$2,164,043
89$4,293,760$0$0$2,331,721
90$4,653,292$0$0$2,528,748
91$5,047,025$0$0$2,744,585
92$5,478,370$0$0$2,981,112
93$5,951,084$0$0$3,240,397
94$6,469,303$0$0$3,524,719
95$7,037,584$0$0$3,836,586
96$7,660,944$0$0$4,178,762
97$8,344,911$0$0$4,554,291
98$9,095,573$0$0$4,966,528
99$9,919,637$0$0$5,419,165
100$10,824,488$0$0$5,916,272