Can I retire at age 62 with 644,000?

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 $644,000?

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$53,181$52,707$52,245$51,794$51,353$51,094
2 years$26,327$25,837$25,362$24,901$24,454$24,192
3 years$17,377$16,885$16,411$15,954$15,515$15,259
4 years$12,903$12,412$11,943$11,494$11,065$10,817
5 years$10,219$9,731$9,268$8,829$8,412$8,172
6 years$8,431$7,946$7,490$7,060$6,656$6,425
7 years$7,153$6,673$6,224$5,805$5,413$5,191
8 years$6,196$5,720$5,279$4,869$4,491$4,277
9 years$5,452$4,980$4,546$4,148$3,782$3,577
10 years$4,857$4,390$3,964$3,575$3,222$3,026
11 years$4,370$3,908$3,490$3,112$2,771$2,584
12 years$3,965$3,508$3,097$2,729$2,401$2,222
13 years$3,623$3,170$2,767$2,410$2,094$1,923
14 years$3,329$2,881$2,486$2,139$1,836$1,673
15 years$3,075$2,632$2,245$1,908$1,616$1,461
16 years$2,853$2,415$2,035$1,708$1,428$1,281
17 years$2,657$2,224$1,852$1,535$1,267$1,127
18 years$2,484$2,055$1,690$1,383$1,126$994
19 years$2,328$1,905$1,548$1,250$1,004$878
20 years$2,189$1,770$1,420$1,132$897$778
21 years$2,063$1,649$1,306$1,027$802$690
22 years$1,948$1,539$1,204$934$719$613
23 years$1,844$1,439$1,112$851$646$545
24 years$1,748$1,349$1,028$776$580$486
25 years$1,660$1,266$952$708$522$433
26 years$1,579$1,189$883$648$470$387
27 years$1,505$1,119$820$593$424$345
28 years$1,435$1,055$762$543$383$309
29 years$1,371$995$709$498$346$276
30 years$1,311$940$661$457$312$247
31 years$1,255$888$616$420$282$221
32 years$1,202$841$575$386$255$198
33 years$1,153$796$537$355$231$178
34 years$1,107$754$501$327$209$159
35 years$1,064$716$469$301$189$143
36 years$1,023$679$439$277$172$128
37 years$984$645$411$255$156$115
38 years$948$613$384$235$141$103
39 years$913$583$360$217$128$93
40 years$880$555$338$200$116$83
41 years$849$528$317$184$105$75
42 years$820$503$297$170$96$67
43 years$792$479$279$157$87$60
44 years$765$457$262$145$79$54
45 years$740$435$246$134$71$49
46 years$715$415$231$124$65$44
47 years$692$396$217$114$59$39
48 years$670$378$204$106$53$35
49 years$649$361$191$98$49$32
50 years$629$345$180$90$44$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $644,000, adding $5,771 every year, while hoping to spend $33,733 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: 49/31/20 Blend
61$644,000$644,000$644,000$644,000
62$715,641$681,509$671,527$746,428
63$752,744$679,011$658,131$765,890
64$792,502$675,260$643,156$783,124
65$835,149$670,160$626,514$801,138
66$880,943$663,606$608,111$820,017
67$930,167$655,491$587,850$839,859
68$983,132$645,698$565,631$860,774
69$1,040,179$634,104$541,347$882,884
70$1,101,683$620,581$514,888$906,326
71$1,168,056$604,991$486,138$931,254
72$1,239,749$587,188$454,976$957,841
73$1,317,261$567,017$421,275$986,278
74$1,401,138$544,317$384,904$1,016,781
75$1,491,980$518,914$345,724$1,049,588
76$1,590,447$490,626$303,591$1,084,969
77$1,697,266$459,260$258,354$1,123,220
78$1,813,235$424,612$209,857$1,164,675
79$1,939,232$386,466$157,935$1,209,703
80$2,076,224$344,593$102,416$1,258,718
81$2,225,275$298,753$43,122$1,312,177
82$2,387,552$248,691$0$1,370,591
83$2,564,343$194,139$0$1,438,828
84$2,757,065$134,810$0$1,523,317
85$2,967,277$70,407$0$1,615,591
86$3,196,692$610$0$1,716,473
87$3,447,202$0$0$1,826,872
88$3,720,883$0$0$1,973,351
89$4,020,024$0$0$2,133,752
90$4,347,146$0$0$2,309,227
91$4,705,022$0$0$2,501,271
92$5,096,708$0$0$2,711,534
93$5,525,566$0$0$2,941,830
94$5,995,301$0$0$3,194,159
95$6,509,991$0$0$3,470,722
96$7,074,131$0$0$3,773,942
97$7,692,666$0$0$4,106,492
98$8,371,046$0$0$4,471,311
99$9,115,274$0$0$4,871,639
100$9,931,960$0$0$5,311,044