Can I retire at age 62 with 645,000?

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 $645,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$53,263$52,789$52,326$51,874$51,433$51,066
2 years$26,368$25,877$25,401$24,940$24,492$24,122
3 years$17,404$16,911$16,436$15,979$15,539$15,177
4 years$12,923$12,431$11,961$11,512$11,082$10,732
5 years$10,235$9,746$9,282$8,842$8,425$8,086
6 years$8,444$7,959$7,502$7,071$6,666$6,341
7 years$7,165$6,684$6,234$5,814$5,421$5,109
8 years$6,206$5,729$5,287$4,877$4,498$4,198
9 years$5,460$4,988$4,554$4,154$3,788$3,500
10 years$4,864$4,397$3,970$3,581$3,227$2,952
11 years$4,377$3,914$3,495$3,116$2,775$2,513
12 years$3,971$3,513$3,102$2,734$2,405$2,155
13 years$3,628$3,175$2,771$2,413$2,097$1,859
14 years$3,334$2,886$2,490$2,142$1,839$1,612
15 years$3,080$2,636$2,248$1,911$1,619$1,403
16 years$2,858$2,419$2,038$1,711$1,431$1,226
17 years$2,662$2,228$1,855$1,537$1,269$1,075
18 years$2,488$2,058$1,693$1,385$1,128$944
19 years$2,332$1,908$1,550$1,252$1,005$832
20 years$2,192$1,773$1,422$1,134$898$734
21 years$2,066$1,651$1,308$1,029$804$649
22 years$1,951$1,541$1,206$935$720$574
23 years$1,847$1,442$1,113$852$647$509
24 years$1,751$1,351$1,030$777$581$452
25 years$1,663$1,268$954$710$523$401
26 years$1,582$1,191$885$649$471$357
27 years$1,507$1,121$821$594$425$317
28 years$1,438$1,056$764$544$383$282
29 years$1,373$997$711$499$346$252
30 years$1,313$941$662$458$313$224
31 years$1,257$890$617$421$283$200
32 years$1,204$842$576$387$256$178
33 years$1,155$797$538$355$231$159
34 years$1,109$756$502$327$210$142
35 years$1,065$717$470$301$190$127
36 years$1,024$680$439$277$172$113
37 years$986$646$411$255$156$101
38 years$949$614$385$235$141$91
39 years$915$584$361$217$128$81
40 years$882$556$338$200$116$72
41 years$851$529$317$185$105$65
42 years$821$504$297$171$96$58
43 years$793$480$279$157$87$52
44 years$766$457$262$145$79$46
45 years$741$436$246$134$72$41
46 years$717$416$231$124$65$37
47 years$693$397$217$115$59$33
48 years$671$379$204$106$54$30
49 years$650$362$192$98$49$27
50 years$630$346$180$90$44$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $645,000, adding $2,845 every year, while hoping to spend $24,102 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: 63/32/5 Blend
61$645,000$645,000$645,000$645,000
62$713,725$679,540$669,542$757,977
63$760,880$687,193$666,327$795,451
64$812,038$694,413$662,197$833,244
65$867,580$701,154$657,095$873,872
66$927,929$707,366$650,963$917,608
67$993,546$712,995$643,739$964,752
68$1,064,942$717,986$635,359$1,015,636
69$1,142,677$722,278$625,754$1,070,626
70$1,227,367$725,807$614,854$1,130,124
71$1,319,693$728,506$602,586$1,194,576
72$1,420,400$730,302$588,872$1,264,472
73$1,530,312$731,117$573,630$1,340,352
74$1,650,333$730,872$556,776$1,422,815
75$1,781,461$729,477$538,221$1,512,517
76$1,924,791$726,843$517,872$1,610,185
77$2,081,532$722,871$495,633$1,716,620
78$2,253,013$717,456$471,402$1,832,705
79$2,440,699$710,491$445,073$1,959,414
80$2,646,203$701,857$416,535$2,097,823
81$2,871,299$691,431$385,673$2,249,115
82$3,117,943$679,083$352,365$2,414,599
83$3,388,289$664,674$316,485$2,595,718
84$3,684,708$648,057$277,900$2,794,060
85$4,009,813$629,076$236,474$3,011,381
86$4,366,480$607,566$192,062$3,249,616
87$4,757,878$583,355$144,514$3,510,898
88$5,187,499$556,256$93,672$3,797,582
89$5,659,187$526,076$39,373$4,112,262
90$6,177,177$492,607$0$4,457,802
91$6,746,137$455,632$0$4,838,349
92$7,371,205$414,921$0$5,258,701
93$8,058,045$370,229$0$5,720,604
94$8,812,894$321,298$0$6,228,302
95$9,642,625$267,858$0$6,786,475
96$10,554,810$209,619$0$7,400,284
97$11,557,789$146,279$0$8,075,417
98$12,660,753$77,517$0$8,818,148
99$13,873,828$2,993$0$9,635,393
100$15,208,169$0$0$10,534,777