Can I retire at age 62 with 649,000?

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 $649,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$53,594$53,116$52,651$52,196$51,752$50,687
2 years$26,532$26,037$25,559$25,094$24,644$23,575
3 years$17,512$17,016$16,538$16,078$15,635$14,597
4 years$13,003$12,508$12,035$11,583$11,151$10,151
5 years$10,299$9,807$9,340$8,897$8,477$7,518
6 years$8,496$8,008$7,548$7,115$6,707$5,790
7 years$7,209$6,725$6,273$5,850$5,455$4,580
8 years$6,244$5,765$5,320$4,907$4,525$3,693
9 years$5,494$5,019$4,582$4,180$3,811$3,020
10 years$4,895$4,424$3,994$3,603$3,247$2,496
11 years$4,404$3,939$3,517$3,136$2,793$2,082
12 years$3,996$3,535$3,121$2,750$2,420$1,748
13 years$3,651$3,195$2,788$2,428$2,110$1,476
14 years$3,355$2,904$2,505$2,156$1,850$1,251
15 years$3,099$2,653$2,262$1,922$1,629$1,065
16 years$2,875$2,434$2,051$1,721$1,440$910
17 years$2,678$2,241$1,866$1,547$1,276$779
18 years$2,503$2,071$1,704$1,394$1,135$668
19 years$2,346$1,920$1,560$1,259$1,012$575
20 years$2,206$1,784$1,431$1,141$904$495
21 years$2,079$1,661$1,317$1,035$809$427
22 years$1,963$1,551$1,213$941$725$368
23 years$1,858$1,451$1,120$857$651$318
24 years$1,762$1,359$1,036$782$585$275
25 years$1,673$1,275$960$714$526$238
26 years$1,592$1,199$890$653$474$206
27 years$1,516$1,128$826$598$427$179
28 years$1,446$1,063$768$547$386$155
29 years$1,382$1,003$715$502$348$134
30 years$1,321$947$666$461$315$117
31 years$1,265$895$621$423$284$101
32 years$1,212$847$579$389$257$88
33 years$1,162$802$541$358$233$76
34 years$1,116$760$505$329$211$66
35 years$1,072$721$472$303$191$58
36 years$1,031$685$442$279$173$50
37 years$992$650$414$257$157$43
38 years$955$618$387$237$142$38
39 years$920$588$363$218$129$33
40 years$887$559$340$201$117$28
41 years$856$532$319$186$106$25
42 years$826$507$299$172$96$22
43 years$798$483$281$158$87$19
44 years$771$460$264$146$79$16
45 years$745$439$247$135$72$14
46 years$721$419$232$125$65$12
47 years$698$400$218$115$59$11
48 years$675$381$205$106$54$9
49 years$654$364$193$98$49$8
50 years$634$348$181$91$44$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $649,000, adding $3,023 every year, while hoping to spend $32,219 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: 47/29/24 Blend
61$649,000$649,000$649,000$649,000
62$718,316$683,919$673,860$747,025
63$757,304$683,151$662,153$766,706
64$799,188$681,264$648,975$784,633
65$844,231$678,172$634,241$803,445
66$892,719$673,779$617,865$823,241
67$944,968$667,985$599,755$844,131
68$1,001,323$660,686$579,815$866,240
69$1,062,166$651,767$557,947$889,704
70$1,127,915$641,111$534,046$914,679
71$1,199,028$628,591$508,002$941,337
72$1,276,010$614,074$479,702$969,870
73$1,359,417$597,418$449,026$1,000,494
74$1,449,860$578,473$415,850$1,033,449
75$1,548,008$557,081$380,044$1,069,002
76$1,654,601$533,074$341,471$1,107,450
77$1,770,450$506,274$299,990$1,149,125
78$1,896,449$476,495$255,453$1,194,395
79$2,033,580$443,537$207,704$1,243,672
80$2,182,926$407,190$156,582$1,297,411
81$2,345,674$367,233$101,918$1,356,119
82$2,523,136$323,430$43,536$1,420,360
83$2,716,753$275,535$0$1,490,759
84$2,928,110$223,285$0$1,572,817
85$3,158,955$166,403$0$1,674,708
86$3,411,210$104,598$0$1,786,180
87$3,686,990$37,561$0$1,908,232
88$3,988,628$0$0$2,041,974
89$4,318,687$0$0$2,199,808
90$4,679,994$0$0$2,385,778
91$5,075,660$0$0$2,589,506
92$5,509,110$0$0$2,812,767
93$5,984,118$0$0$3,057,513
94$6,504,838$0$0$3,325,895
95$7,075,848$0$0$3,620,282
96$7,702,188$0$0$3,943,284
97$8,389,409$0$0$4,297,775
98$9,143,626$0$0$4,686,920
99$9,971,577$0$0$5,114,207
100$10,880,681$0$0$5,583,479