Can I retire at age 62 with 648,000?

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 $648,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$53,511$53,035$52,570$52,116$51,672$49,681
2 years$26,491$25,997$25,519$25,056$24,606$22,623
3 years$17,485$16,990$16,513$16,053$15,611$13,700
4 years$12,983$12,489$12,017$11,566$11,134$9,308
5 years$10,283$9,792$9,326$8,883$8,464$6,729
6 years$8,483$7,996$7,537$7,104$6,697$5,054
7 years$7,198$6,715$6,263$5,841$5,447$3,894
8 years$6,235$5,756$5,311$4,900$4,518$3,056
9 years$5,486$5,011$4,575$4,173$3,805$2,430
10 years$4,887$4,417$3,988$3,598$3,242$1,952
11 years$4,397$3,932$3,511$3,131$2,788$1,580
12 years$3,990$3,530$3,116$2,746$2,416$1,287
13 years$3,645$3,190$2,784$2,425$2,107$1,053
14 years$3,350$2,899$2,502$2,152$1,847$865
15 years$3,094$2,649$2,259$1,919$1,626$713
16 years$2,871$2,430$2,048$1,719$1,437$589
17 years$2,674$2,238$1,863$1,544$1,274$488
18 years$2,499$2,068$1,701$1,392$1,133$405
19 years$2,343$1,917$1,557$1,257$1,010$336
20 years$2,202$1,781$1,429$1,139$902$279
21 years$2,075$1,659$1,314$1,034$807$232
22 years$1,960$1,549$1,211$940$724$194
23 years$1,855$1,448$1,119$856$650$161
24 years$1,759$1,357$1,035$781$584$135
25 years$1,671$1,273$958$713$525$112
26 years$1,589$1,197$889$652$473$94
27 years$1,514$1,126$825$597$427$78
28 years$1,444$1,061$767$547$385$65
29 years$1,379$1,001$714$501$348$55
30 years$1,319$946$665$460$314$46
31 years$1,263$894$620$423$284$38
32 years$1,210$846$578$388$257$32
33 years$1,160$801$540$357$232$27
34 years$1,114$759$505$329$210$22
35 years$1,070$720$472$302$191$19
36 years$1,029$683$441$279$173$16
37 years$990$649$413$257$157$13
38 years$954$617$387$237$142$11
39 years$919$587$362$218$129$9
40 years$886$558$340$201$117$8
41 years$855$531$319$186$106$6
42 years$825$506$299$171$96$5
43 years$797$482$280$158$87$4
44 years$770$460$263$146$79$4
45 years$744$438$247$135$72$3
46 years$720$418$232$125$65$3
47 years$697$399$218$115$59$2
48 years$674$381$205$106$54$2
49 years$653$364$193$98$49$2
50 years$633$347$181$91$44$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $648,000, adding $4,393 every year, while hoping to spend $24,530 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: 45/45/10 Blend
61$648,000$648,000$648,000$648,000
62$718,627$684,283$674,239$748,743
63$765,828$691,714$670,727$777,478
64$817,020$698,686$666,274$805,754
65$872,586$705,151$660,824$835,858
66$932,945$711,059$654,317$867,969
67$998,559$716,354$646,690$902,282
68$1,069,934$720,978$637,876$939,015
69$1,147,630$724,868$627,808$978,409
70$1,232,260$727,958$616,411$1,020,729
71$1,324,501$730,179$603,611$1,066,269
72$1,425,097$731,454$589,329$1,115,356
73$1,534,867$731,706$573,482$1,168,349
74$1,654,712$730,848$555,982$1,225,647
75$1,785,625$728,792$536,740$1,287,690
76$1,928,699$725,442$515,660$1,354,965
77$2,085,135$720,698$492,644$1,428,012
78$2,256,259$714,453$467,588$1,507,425
79$2,443,528$706,592$440,383$1,593,863
80$2,648,549$696,995$410,917$1,688,053
81$2,873,089$685,536$379,070$1,790,801
82$3,119,095$672,078$344,720$1,902,995
83$3,388,711$656,479$307,737$2,025,617
84$3,684,300$638,586$267,986$2,159,755
85$4,008,461$618,240$225,327$2,306,606
86$4,364,061$595,271$179,612$2,467,496
87$4,754,254$569,498$130,688$2,643,890
88$5,182,516$540,731$78,394$2,837,405
89$5,652,676$508,770$22,563$3,049,827
90$6,168,951$473,402$0$3,283,130
91$6,735,986$434,401$0$3,543,441
92$7,358,900$391,529$0$3,832,044
93$8,043,330$344,536$0$4,149,205
94$8,795,487$293,156$0$4,497,878
95$9,622,214$237,108$0$4,881,326
96$10,531,049$176,096$0$5,303,145
97$11,530,297$109,806$0$5,767,307
98$12,629,109$37,908$0$6,278,193
99$13,837,565$0$0$6,840,636
100$15,166,773$0$0$7,479,754