Can I retire at age 62 with 644,000?

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 $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%15.2%
1 years$53,181$52,707$52,245$51,794$51,353$50,255
2 years$26,327$25,837$25,362$24,901$24,454$23,353
3 years$17,377$16,885$16,411$15,954$15,515$14,445
4 years$12,903$12,412$11,943$11,494$11,065$10,035
5 years$10,219$9,731$9,268$8,829$8,412$7,424
6 years$8,431$7,946$7,490$7,060$6,656$5,712
7 years$7,153$6,673$6,224$5,805$5,413$4,513
8 years$6,196$5,720$5,279$4,869$4,491$3,634
9 years$5,452$4,980$4,546$4,148$3,782$2,968
10 years$4,857$4,390$3,964$3,575$3,222$2,451
11 years$4,370$3,908$3,490$3,112$2,771$2,041
12 years$3,965$3,508$3,097$2,729$2,401$1,712
13 years$3,623$3,170$2,767$2,410$2,094$1,443
14 years$3,329$2,881$2,486$2,139$1,836$1,222
15 years$3,075$2,632$2,245$1,908$1,616$1,039
16 years$2,853$2,415$2,035$1,708$1,428$886
17 years$2,657$2,224$1,852$1,535$1,267$758
18 years$2,484$2,055$1,690$1,383$1,126$649
19 years$2,328$1,905$1,548$1,250$1,004$557
20 years$2,189$1,770$1,420$1,132$897$479
21 years$2,063$1,649$1,306$1,027$802$412
22 years$1,948$1,539$1,204$934$719$355
23 years$1,844$1,439$1,112$851$646$307
24 years$1,748$1,349$1,028$776$580$265
25 years$1,660$1,266$952$708$522$229
26 years$1,579$1,189$883$648$470$198
27 years$1,505$1,119$820$593$424$171
28 years$1,435$1,055$762$543$383$148
29 years$1,371$995$709$498$346$128
30 years$1,311$940$661$457$312$111
31 years$1,255$888$616$420$282$96
32 years$1,202$841$575$386$255$83
33 years$1,153$796$537$355$231$72
34 years$1,107$754$501$327$209$63
35 years$1,064$716$469$301$189$54
36 years$1,023$679$439$277$172$47
37 years$984$645$411$255$156$41
38 years$948$613$384$235$141$35
39 years$913$583$360$217$128$31
40 years$880$555$338$200$116$27
41 years$849$528$317$184$105$23
42 years$820$503$297$170$96$20
43 years$792$479$279$157$87$17
44 years$765$457$262$145$79$15
45 years$740$435$246$134$71$13
46 years$715$415$231$124$65$11
47 years$692$396$217$114$59$10
48 years$670$378$204$106$53$9
49 years$649$361$191$98$49$7
50 years$629$345$180$90$44$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $644,000, adding $5,794 every year, while hoping to spend $23,940 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: 30/41/29 Blend
61$644,000$644,000$644,000$644,000
62$715,665$681,533$671,551$730,632
63$763,190$689,456$668,575$750,759
64$814,761$696,965$664,698$769,925
65$870,765$704,014$659,864$790,072
66$931,627$710,555$654,014$811,305
67$997,817$716,536$647,087$833,737
68$1,069,850$721,901$639,019$857,495
69$1,148,293$726,593$629,745$882,723
70$1,233,771$730,548$619,193$909,579
71$1,326,970$733,700$607,291$938,240
72$1,428,648$735,978$593,962$968,901
73$1,539,636$737,307$579,126$1,001,783
74$1,660,851$737,607$562,699$1,037,128
75$1,793,301$736,793$544,592$1,075,207
76$1,938,097$734,775$524,715$1,116,322
77$2,096,461$731,457$502,972$1,160,806
78$2,269,740$726,738$479,261$1,209,030
79$2,459,415$720,510$453,478$1,261,408
80$2,667,120$712,659$425,514$1,318,397
81$2,894,651$703,064$395,253$1,380,505
82$3,143,987$691,597$362,577$1,448,295
83$3,417,310$678,121$327,359$1,522,392
84$3,717,020$662,494$289,470$1,603,488
85$4,045,761$644,561$248,773$1,692,353
86$4,406,447$624,162$205,124$1,789,836
87$4,802,285$601,126$158,376$1,896,880
88$5,236,809$575,273$108,373$2,014,530
89$5,713,913$546,410$54,953$2,143,941
90$6,237,884$514,336$0$2,286,394
91$6,813,446$478,837$0$2,443,942
92$7,445,804$439,686$0$2,635,703
93$8,140,690$396,645$0$2,846,449
94$8,904,419$349,460$0$3,078,157
95$9,743,951$297,864$0$3,333,013
96$10,666,950$241,576$0$3,613,430
97$11,681,862$180,296$0$3,922,070
98$12,797,992$113,711$0$4,261,873
99$14,025,592$41,487$0$4,636,087
100$15,375,956$0$0$5,048,292