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%13.2%
1 years$53,263$52,789$52,326$51,874$51,433$50,748
2 years$26,368$25,877$25,401$24,940$24,492$23,803
3 years$17,404$16,911$16,436$15,979$15,539$14,867
4 years$12,923$12,431$11,961$11,512$11,082$10,433
5 years$10,235$9,746$9,282$8,842$8,425$7,800
6 years$8,444$7,959$7,502$7,071$6,666$6,067
7 years$7,165$6,684$6,234$5,814$5,421$4,847
8 years$6,206$5,729$5,287$4,877$4,498$3,949
9 years$5,460$4,988$4,554$4,154$3,788$3,264
10 years$4,864$4,397$3,970$3,581$3,227$2,728
11 years$4,377$3,914$3,495$3,116$2,775$2,301
12 years$3,971$3,513$3,102$2,734$2,405$1,954
13 years$3,628$3,175$2,771$2,413$2,097$1,670
14 years$3,334$2,886$2,490$2,142$1,839$1,433
15 years$3,080$2,636$2,248$1,911$1,619$1,235
16 years$2,858$2,419$2,038$1,711$1,431$1,068
17 years$2,662$2,228$1,855$1,537$1,269$927
18 years$2,488$2,058$1,693$1,385$1,128$806
19 years$2,332$1,908$1,550$1,252$1,005$702
20 years$2,192$1,773$1,422$1,134$898$612
21 years$2,066$1,651$1,308$1,029$804$535
22 years$1,951$1,541$1,206$935$720$469
23 years$1,847$1,442$1,113$852$647$411
24 years$1,751$1,351$1,030$777$581$360
25 years$1,663$1,268$954$710$523$316
26 years$1,582$1,191$885$649$471$278
27 years$1,507$1,121$821$594$425$244
28 years$1,438$1,056$764$544$383$215
29 years$1,373$997$711$499$346$189
30 years$1,313$941$662$458$313$166
31 years$1,257$890$617$421$283$147
32 years$1,204$842$576$387$256$129
33 years$1,155$797$538$355$231$114
34 years$1,109$756$502$327$210$100
35 years$1,065$717$470$301$190$89
36 years$1,024$680$439$277$172$78
37 years$986$646$411$255$156$69
38 years$949$614$385$235$141$61
39 years$915$584$361$217$128$54
40 years$882$556$338$200$116$47
41 years$851$529$317$185$105$42
42 years$821$504$297$171$96$37
43 years$793$480$279$157$87$33
44 years$766$457$262$145$79$29
45 years$741$436$246$134$72$25
46 years$717$416$231$124$65$22
47 years$693$397$217$115$59$20
48 years$671$379$204$106$54$17
49 years$650$362$192$98$49$15
50 years$630$346$180$90$44$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $645,000, adding $2,249 every year, while hoping to spend $45,780 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: 59/15/26 Blend
61$645,000$645,000$645,000$645,000
62$713,110$678,925$668,927$750,049
63$737,137$663,483$642,627$760,065
64$762,082$645,749$613,911$765,893
65$787,987$625,564$582,650$771,281
66$814,903$602,758$548,710$776,197
67$842,880$577,150$511,949$780,608
68$871,974$548,550$472,219$784,481
69$902,243$516,757$429,366$787,780
70$933,752$481,558$383,230$790,472
71$966,568$442,728$333,642$792,519
72$1,000,765$400,029$280,426$793,885
73$1,036,422$353,210$223,399$794,532
74$1,073,624$302,003$162,370$794,423
75$1,112,462$246,130$97,137$793,519
76$1,153,035$185,293$27,494$791,782
77$1,195,451$119,178$0$789,173
78$1,239,824$47,455$0$798,647
79$1,286,280$0$0$816,159
80$1,334,954$0$0$839,091
81$1,385,994$0$0$871,367
82$1,439,558$0$0$905,255
83$1,495,820$0$0$940,868
84$1,554,968$0$0$978,327
85$1,617,206$0$0$1,017,763
86$1,682,756$0$0$1,059,321
87$1,751,861$0$0$1,103,156
88$1,824,785$0$0$1,149,440
89$1,901,816$0$0$1,198,358
90$1,983,267$0$0$1,250,114
91$2,069,482$0$0$1,304,929
92$2,160,834$0$0$1,363,045
93$2,257,732$0$0$1,424,727
94$2,360,623$0$0$1,490,264
95$2,469,996$0$0$1,559,972
96$2,586,386$0$0$1,634,199
97$2,710,378$0$0$1,713,322
98$2,842,613$0$0$1,797,757
99$2,983,792$0$0$1,887,960
100$3,134,686$0$0$1,984,429