Can I retire at age 62 with 646,000?

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 $646,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$53,346$52,871$52,407$51,955$51,513$50,329
2 years$26,409$25,917$25,440$24,978$24,530$23,344
3 years$17,431$16,937$16,462$16,004$15,563$14,411
4 years$12,943$12,451$11,980$11,530$11,100$9,992
5 years$10,251$9,761$9,297$8,856$8,438$7,376
6 years$8,457$7,971$7,513$7,082$6,676$5,663
7 years$7,176$6,694$6,244$5,823$5,430$4,464
8 years$6,215$5,738$5,295$4,885$4,504$3,587
9 years$5,469$4,996$4,561$4,161$3,793$2,922
10 years$4,872$4,404$3,976$3,586$3,232$2,407
11 years$4,384$3,920$3,500$3,121$2,780$2,000
12 years$3,977$3,519$3,107$2,738$2,409$1,672
13 years$3,634$3,180$2,775$2,417$2,101$1,406
14 years$3,340$2,890$2,494$2,146$1,841$1,188
15 years$3,085$2,640$2,252$1,913$1,621$1,007
16 years$2,862$2,423$2,041$1,713$1,433$856
17 years$2,666$2,231$1,858$1,539$1,271$730
18 years$2,491$2,062$1,696$1,387$1,130$624
19 years$2,336$1,911$1,552$1,254$1,007$534
20 years$2,196$1,775$1,425$1,135$899$457
21 years$2,069$1,654$1,310$1,030$805$393
22 years$1,954$1,544$1,208$937$721$337
23 years$1,849$1,444$1,115$853$648$290
24 years$1,754$1,353$1,031$778$582$250
25 years$1,665$1,270$955$711$524$215
26 years$1,584$1,193$886$650$472$185
27 years$1,509$1,123$823$595$425$160
28 years$1,440$1,058$765$545$384$138
29 years$1,375$998$712$500$347$119
30 years$1,315$943$663$459$313$103
31 years$1,259$891$618$421$283$89
32 years$1,206$843$577$387$256$77
33 years$1,157$799$538$356$232$66
34 years$1,111$757$503$328$210$57
35 years$1,067$718$470$302$190$49
36 years$1,026$681$440$278$172$43
37 years$987$647$412$256$156$37
38 years$951$615$386$236$142$32
39 years$916$585$361$217$128$28
40 years$883$556$339$201$116$24
41 years$852$530$318$185$106$21
42 years$822$504$298$171$96$18
43 years$794$481$279$158$87$15
44 years$768$458$262$146$79$13
45 years$742$437$246$134$72$12
46 years$718$417$231$124$65$10
47 years$694$398$217$115$59$9
48 years$672$380$204$106$54$7
49 years$651$363$192$98$49$6
50 years$631$346$181$91$44$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $646,000, adding $3,081 every year, while hoping to spend $36,920 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: 29/47/24 Blend
61$646,000$646,000$646,000$646,000
62$715,070$680,832$670,819$730,390
63$748,725$674,910$654,009$736,631
64$784,575$667,461$635,398$739,874
65$822,805$658,370$614,888$742,600
66$863,618$647,517$592,373$744,788
67$907,236$634,775$567,747$746,418
68$953,902$620,007$540,895$747,476
69$1,003,883$603,070$511,698$747,944
70$1,057,472$583,813$480,032$747,812
71$1,114,989$562,075$445,769$747,070
72$1,176,788$537,686$408,771$745,715
73$1,243,254$510,467$368,899$743,745
74$1,314,812$480,226$326,003$741,166
75$1,391,928$446,763$279,930$737,990
76$1,475,116$409,865$230,518$734,236
77$1,564,936$369,306$177,599$729,931
78$1,662,008$324,851$120,997$725,112
79$1,767,011$276,247$60,528$719,826
80$1,880,691$223,228$0$714,134
81$2,003,871$165,515$0$709,137
82$2,137,452$102,812$0$720,507
83$2,282,428$34,806$0$732,891
84$2,439,891$0$0$746,475
85$2,611,042$0$0$781,556
86$2,797,202$0$0$839,383
87$2,999,824$0$0$902,419
88$3,220,510$0$0$971,173
89$3,461,019$0$0$1,046,207
90$3,723,288$0$0$1,128,137
91$4,009,450$0$0$1,217,643
92$4,321,851$0$0$1,315,474
93$4,663,076$0$0$1,422,453
94$5,035,968$0$0$1,539,487
95$5,443,659$0$0$1,667,575
96$5,889,596$0$0$1,807,816
97$6,377,575$0$0$1,961,421
98$6,911,776$0$0$2,129,725
99$7,496,802$0$0$2,314,194
100$8,137,721$0$0$2,516,448