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%11.3%
1 years$53,676$53,198$52,732$52,276$51,832$51,548
2 years$26,572$26,078$25,598$25,133$24,682$24,396
3 years$17,539$17,042$16,564$16,103$15,659$15,379
4 years$13,023$12,528$12,054$11,601$11,168$10,897
5 years$10,314$9,822$9,354$8,911$8,490$8,228
6 years$8,509$8,020$7,560$7,126$6,718$6,465
7 years$7,220$6,735$6,282$5,859$5,463$5,221
8 years$6,254$5,773$5,328$4,915$4,532$4,299
9 years$5,503$5,027$4,589$4,186$3,817$3,594
10 years$4,902$4,431$4,001$3,609$3,252$3,038
11 years$4,411$3,945$3,522$3,141$2,797$2,593
12 years$4,002$3,540$3,126$2,755$2,424$2,229
13 years$3,656$3,200$2,793$2,432$2,114$1,928
14 years$3,360$2,908$2,509$2,159$1,853$1,676
15 years$3,104$2,657$2,266$1,925$1,631$1,463
16 years$2,880$2,438$2,054$1,724$1,442$1,282
17 years$2,682$2,245$1,869$1,549$1,278$1,126
18 years$2,507$2,074$1,706$1,396$1,137$992
19 years$2,350$1,923$1,562$1,261$1,013$877
20 years$2,209$1,786$1,433$1,142$905$776
21 years$2,082$1,664$1,319$1,037$810$688
22 years$1,966$1,553$1,215$943$726$611
23 years$1,861$1,453$1,122$858$652$543
24 years$1,764$1,361$1,038$783$586$483
25 years$1,676$1,277$961$715$527$430
26 years$1,594$1,201$891$654$475$384
27 years$1,519$1,130$828$598$428$343
28 years$1,449$1,065$769$548$386$306
29 years$1,384$1,004$716$503$349$273
30 years$1,323$949$667$461$315$245
31 years$1,267$897$622$424$285$219
32 years$1,214$848$580$390$258$196
33 years$1,164$803$542$358$233$175
34 years$1,117$762$506$330$211$157
35 years$1,074$722$473$303$191$141
36 years$1,032$686$443$279$173$126
37 years$993$651$414$257$157$113
38 years$957$619$388$237$142$101
39 years$922$588$364$219$129$91
40 years$889$560$341$202$117$82
41 years$857$533$319$186$106$73
42 years$828$508$300$172$96$66
43 years$799$484$281$159$87$59
44 years$772$461$264$146$79$53
45 years$747$440$248$135$72$47
46 years$722$419$233$125$65$43
47 years$699$400$219$115$59$38
48 years$676$382$206$107$54$34
49 years$655$365$193$99$49$31
50 years$635$348$182$91$45$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $650,000, adding $6,561 every year, while hoping to spend $43,923 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: 54/33/13 Blend
61$650,000$650,000$650,000$650,000
62$723,068$688,618$678,543$759,316
63$750,087$675,626$654,540$771,717
64$778,390$660,526$628,261$779,913
65$808,061$643,167$599,584$787,823
66$839,193$623,392$568,379$795,429
67$871,884$601,032$534,514$802,715
68$906,244$575,910$497,847$809,664
69$942,389$547,837$458,233$816,263
70$980,447$516,616$415,519$822,499
71$1,020,559$482,036$369,544$828,359
72$1,062,875$443,875$320,143$833,836
73$1,107,561$401,898$267,141$838,922
74$1,154,798$355,857$210,356$843,617
75$1,204,783$305,489$149,598$847,919
76$1,257,730$250,517$84,669$851,835
77$1,313,874$190,649$15,361$855,375
78$1,373,473$125,574$0$858,557
79$1,436,806$54,967$0$869,533
80$1,504,182$0$0$883,008
81$1,575,936$0$0$904,737
82$1,652,436$0$0$949,219
83$1,734,086$0$0$996,732
84$1,821,326$0$0$1,047,539
85$1,914,641$0$0$1,101,926
86$2,014,562$0$0$1,160,208
87$2,121,671$0$0$1,222,729
88$2,236,606$0$0$1,289,870
89$2,360,068$0$0$1,362,045
90$2,492,825$0$0$1,439,712
91$2,635,723$0$0$1,523,370
92$2,789,689$0$0$1,613,572
93$2,955,740$0$0$1,710,920
94$3,134,996$0$0$1,816,080
95$3,328,686$0$0$1,929,782
96$3,538,160$0$0$2,052,828
97$3,764,904$0$0$2,186,100
98$4,010,551$0$0$2,330,568
99$4,276,895$0$0$2,487,299
100$4,565,909$0$0$2,657,466