Can I retire at age 62 with 643,000?

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 $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%14.9%
1 years$53,098$52,625$52,164$51,714$51,274$50,238
2 years$26,286$25,797$25,322$24,862$24,416$23,378
3 years$17,350$16,858$16,385$15,929$15,491$14,481
4 years$12,883$12,393$11,924$11,476$11,048$10,076
5 years$10,203$9,716$9,254$8,815$8,399$7,466
6 years$8,417$7,934$7,478$7,049$6,645$5,754
7 years$7,142$6,663$6,215$5,796$5,405$4,554
8 years$6,186$5,711$5,270$4,862$4,484$3,673
9 years$5,443$4,973$4,539$4,141$3,776$3,006
10 years$4,849$4,383$3,958$3,570$3,217$2,486
11 years$4,364$3,902$3,484$3,107$2,767$2,075
12 years$3,959$3,502$3,092$2,725$2,398$1,743
13 years$3,617$3,165$2,763$2,406$2,091$1,472
14 years$3,324$2,877$2,482$2,136$1,833$1,250
15 years$3,070$2,628$2,241$1,905$1,614$1,065
16 years$2,849$2,411$2,032$1,705$1,426$910
17 years$2,653$2,221$1,849$1,532$1,265$779
18 years$2,480$2,052$1,688$1,381$1,124$669
19 years$2,325$1,902$1,545$1,248$1,002$576
20 years$2,185$1,767$1,418$1,130$895$496
21 years$2,059$1,646$1,304$1,026$801$428
22 years$1,945$1,537$1,202$933$718$370
23 years$1,841$1,437$1,110$849$645$320
24 years$1,745$1,347$1,027$775$579$277
25 years$1,658$1,264$951$707$521$240
26 years$1,577$1,188$882$647$470$208
27 years$1,502$1,118$819$592$423$180
28 years$1,433$1,053$761$542$382$156
29 years$1,369$994$708$497$345$136
30 years$1,309$938$660$456$312$118
31 years$1,253$887$615$419$282$102
32 years$1,201$839$574$385$255$89
33 years$1,152$795$536$354$231$77
34 years$1,105$753$501$326$209$67
35 years$1,062$715$468$300$189$58
36 years$1,021$678$438$276$171$51
37 years$983$644$410$255$155$44
38 years$946$612$384$235$141$38
39 years$912$582$360$216$128$33
40 years$879$554$337$200$116$29
41 years$848$527$316$184$105$25
42 years$819$502$296$170$95$22
43 years$791$478$278$157$87$19
44 years$764$456$261$145$79$17
45 years$739$435$245$134$71$14
46 years$714$415$230$124$65$13
47 years$691$396$216$114$59$11
48 years$669$378$203$106$53$10
49 years$648$361$191$98$49$8
50 years$628$345$180$90$44$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $643,000, adding $6,950 every year, while hoping to spend $33,987 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: 82/7/11 Blend
61$643,000$643,000$643,000$643,000
62$715,755$681,676$671,709$772,553
63$752,600$678,916$658,050$808,025
64$792,064$674,882$642,793$841,759
65$834,379$669,475$625,851$877,779
66$879,797$662,592$607,129$916,298
67$928,599$654,120$586,530$957,546
68$981,088$643,945$563,951$1,001,780
69$1,037,601$631,940$539,285$1,049,283
70$1,098,506$617,975$512,421$1,100,365
71$1,164,209$601,911$483,242$1,155,367
72$1,235,153$583,599$451,626$1,214,669
73$1,311,828$562,885$417,444$1,278,685
74$1,394,770$539,602$380,564$1,347,873
75$1,484,570$513,576$340,847$1,422,739
76$1,581,877$484,622$298,146$1,503,839
77$1,687,404$452,544$252,310$1,591,786
78$1,801,937$417,136$203,180$1,687,257
79$1,926,338$378,180$150,590$1,790,997
80$2,061,558$335,443$94,368$1,903,826
81$2,208,639$288,683$34,332$2,026,651
82$2,368,733$237,641$0$2,160,471
83$2,543,102$182,044$0$2,309,875
84$2,733,139$121,604$0$2,477,113
85$2,940,375$56,019$0$2,659,514
86$3,166,496$0$0$2,858,576
87$3,413,356$0$0$3,077,110
88$3,682,998$0$0$3,320,538
89$3,977,670$0$0$3,586,577
90$4,299,847$0$0$3,877,464
91$4,652,255$0$0$4,195,660
92$5,037,894$0$0$4,543,877
93$5,460,068$0$0$4,925,100
94$5,922,415$0$0$5,342,617
95$6,428,942$0$0$5,800,049
96$6,984,063$0$0$6,301,381
97$7,592,635$0$0$6,851,006
98$8,260,012$0$0$7,453,760
99$8,992,089$0$0$8,114,969
100$9,795,359$0$0$8,840,500