Can I retire at age 62 with 650,000?

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 $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%12.6%
1 years$53,676$53,198$52,732$52,276$51,832$51,269
2 years$26,572$26,078$25,598$25,133$24,682$24,115
3 years$17,539$17,042$16,564$16,103$15,659$15,106
4 years$13,023$12,528$12,054$11,601$11,168$10,633
5 years$10,314$9,822$9,354$8,911$8,490$7,975
6 years$8,509$8,020$7,560$7,126$6,718$6,223
7 years$7,220$6,735$6,282$5,859$5,463$4,989
8 years$6,254$5,773$5,328$4,915$4,532$4,078
9 years$5,503$5,027$4,589$4,186$3,817$3,383
10 years$4,902$4,431$4,001$3,609$3,252$2,838
11 years$4,411$3,945$3,522$3,141$2,797$2,402
12 years$4,002$3,540$3,126$2,755$2,424$2,048
13 years$3,656$3,200$2,793$2,432$2,114$1,757
14 years$3,360$2,908$2,509$2,159$1,853$1,514
15 years$3,104$2,657$2,266$1,925$1,631$1,310
16 years$2,880$2,438$2,054$1,724$1,442$1,138
17 years$2,682$2,245$1,869$1,549$1,278$991
18 years$2,507$2,074$1,706$1,396$1,137$865
19 years$2,350$1,923$1,562$1,261$1,013$757
20 years$2,209$1,786$1,433$1,142$905$664
21 years$2,082$1,664$1,319$1,037$810$583
22 years$1,966$1,553$1,215$943$726$512
23 years$1,861$1,453$1,122$858$652$451
24 years$1,764$1,361$1,038$783$586$397
25 years$1,676$1,277$961$715$527$351
26 years$1,594$1,201$891$654$475$309
27 years$1,519$1,130$828$598$428$273
28 years$1,449$1,065$769$548$386$242
29 years$1,384$1,004$716$503$349$214
30 years$1,323$949$667$461$315$189
31 years$1,267$897$622$424$285$167
32 years$1,214$848$580$390$258$148
33 years$1,164$803$542$358$233$131
34 years$1,117$762$506$330$211$116
35 years$1,074$722$473$303$191$103
36 years$1,032$686$443$279$173$91
37 years$993$651$414$257$157$81
38 years$957$619$388$237$142$72
39 years$922$588$364$219$129$64
40 years$889$560$341$202$117$57
41 years$857$533$319$186$106$50
42 years$828$508$300$172$96$45
43 years$799$484$281$159$87$40
44 years$772$461$264$146$79$35
45 years$747$440$248$135$72$31
46 years$722$419$233$125$65$28
47 years$699$400$219$115$59$25
48 years$676$382$206$107$54$22
49 years$655$365$193$99$49$19
50 years$635$348$182$91$45$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $650,000, adding $3,216 every year, while hoping to spend $39,237 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: 70/17/13 Blend
61$650,000$650,000$650,000$650,000
62$719,617$685,167$675,092$767,722
63$751,270$676,993$655,960$791,900
64$784,837$667,102$634,872$813,307
65$820,471$655,371$611,721$835,706
66$858,340$641,666$586,395$859,190
67$898,629$625,845$558,777$883,858
68$941,539$607,761$528,745$909,824
69$987,290$587,255$496,172$937,212
70$1,036,123$564,160$460,923$966,161
71$1,088,303$538,300$422,860$996,824
72$1,144,120$509,487$381,836$1,029,373
73$1,203,892$477,524$337,700$1,063,998
74$1,267,968$442,201$290,291$1,100,908
75$1,336,730$403,298$239,445$1,140,337
76$1,410,597$360,580$184,987$1,182,545
77$1,490,031$313,802$126,737$1,227,817
78$1,575,537$262,701$64,506$1,276,473
79$1,667,671$207,002$0$1,328,866
80$1,767,042$146,414$0$1,385,650
81$1,874,321$80,629$0$1,456,562
82$1,990,244$9,322$0$1,533,153
83$2,115,621$0$0$1,615,988
84$2,251,341$0$0$1,718,380
85$2,398,382$0$0$1,831,230
86$2,557,819$0$0$1,953,626
87$2,730,836$0$0$2,086,477
88$2,918,732$0$0$2,230,787
89$3,122,937$0$0$2,387,659
90$3,345,027$0$0$2,558,305
91$3,586,731$0$0$2,744,061
92$3,849,955$0$0$2,946,396
93$4,136,796$0$0$3,166,926
94$4,449,559$0$0$3,407,429
95$4,790,786$0$0$3,669,865
96$5,163,269$0$0$3,956,388
97$5,570,086$0$0$4,269,370
98$6,014,624$0$0$4,611,423
99$6,500,611$0$0$4,985,424
100$7,032,152$0$0$5,394,536