Can I retire at age 62 with 650,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $650,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$53,676$53,198$52,732$52,276$51,832$50,053
2 years$26,572$26,078$25,598$25,133$24,682$22,907
3 years$17,539$17,042$16,564$16,103$15,659$13,945
4 years$13,023$12,528$12,054$11,601$11,168$9,528
5 years$10,314$9,822$9,354$8,911$8,490$6,928
6 years$8,509$8,020$7,560$7,126$6,718$5,235
7 years$7,220$6,735$6,282$5,859$5,463$4,059
8 years$6,254$5,773$5,328$4,915$4,532$3,206
9 years$5,503$5,027$4,589$4,186$3,817$2,567
10 years$4,902$4,431$4,001$3,609$3,252$2,076
11 years$4,411$3,945$3,522$3,141$2,797$1,693
12 years$4,002$3,540$3,126$2,755$2,424$1,389
13 years$3,656$3,200$2,793$2,432$2,114$1,145
14 years$3,360$2,908$2,509$2,159$1,853$948
15 years$3,104$2,657$2,266$1,925$1,631$788
16 years$2,880$2,438$2,054$1,724$1,442$656
17 years$2,682$2,245$1,869$1,549$1,278$547
18 years$2,507$2,074$1,706$1,396$1,137$458
19 years$2,350$1,923$1,562$1,261$1,013$383
20 years$2,209$1,786$1,433$1,142$905$321
21 years$2,082$1,664$1,319$1,037$810$270
22 years$1,966$1,553$1,215$943$726$227
23 years$1,861$1,453$1,122$858$652$191
24 years$1,764$1,361$1,038$783$586$160
25 years$1,676$1,277$961$715$527$135
26 years$1,594$1,201$891$654$475$114
27 years$1,519$1,130$828$598$428$96
28 years$1,449$1,065$769$548$386$81
29 years$1,384$1,004$716$503$349$68
30 years$1,323$949$667$461$315$57
31 years$1,267$897$622$424$285$48
32 years$1,214$848$580$390$258$41
33 years$1,164$803$542$358$233$34
34 years$1,117$762$506$330$211$29
35 years$1,074$722$473$303$191$24
36 years$1,032$686$443$279$173$21
37 years$993$651$414$257$157$17
38 years$957$619$388$237$142$15
39 years$922$588$364$219$129$12
40 years$889$560$341$202$117$10
41 years$857$533$319$186$106$9
42 years$828$508$300$172$96$7
43 years$799$484$281$159$87$6
44 years$772$461$264$146$79$5
45 years$747$440$248$135$72$4
46 years$722$419$233$125$65$4
47 years$699$400$219$115$59$3
48 years$676$382$206$107$54$3
49 years$655$365$193$99$49$2
50 years$635$348$182$91$45$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $650,000, adding $4,968 every year, while hoping to spend $49,865 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: 75/15/10 Blend
61$650,000$650,000$650,000$650,000
62$721,424$686,974$676,899$773,863
63$741,954$667,580$646,520$789,713
64$762,906$645,564$613,451$800,294
65$784,271$620,746$577,550$810,487
66$806,037$592,933$538,669$820,237
67$828,190$561,923$496,651$829,484
68$850,709$527,502$451,333$838,162
69$873,575$489,442$402,545$846,199
70$896,759$447,505$350,110$853,518
71$920,232$401,436$293,842$860,035
72$943,957$350,968$233,547$865,658
73$967,892$295,817$169,023$870,287
74$991,990$235,685$100,059$873,813
75$1,016,195$170,256$26,433$876,120
76$1,040,445$99,196$0$877,077
77$1,064,667$22,153$0$882,110
78$1,088,779$0$0$888,874
79$1,112,689$0$0$904,518
80$1,136,294$0$0$923,551
81$1,159,474$0$0$942,218
82$1,182,098$0$0$960,410
83$1,204,017$0$0$978,004
84$1,225,065$0$0$994,860
85$1,245,053$0$0$1,010,824
86$1,263,774$0$0$1,025,723
87$1,280,993$0$0$1,039,364
88$1,296,451$0$0$1,051,529
89$1,309,857$0$0$1,061,980
90$1,320,887$0$0$1,070,446
91$1,329,181$0$0$1,076,631
92$1,334,338$0$0$1,080,203
93$1,335,913$0$0$1,080,792
94$1,333,411$0$0$1,077,989
95$1,326,283$0$0$1,071,339
96$1,313,919$0$0$1,060,337
97$1,295,642$0$0$1,044,425
98$1,270,705$0$0$1,022,982
99$1,238,275$0$0$995,320
100$1,197,433$0$0$960,679