Can I retire at age 62 with 654,000?

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 $654,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$54,007$53,526$53,056$52,598$52,151$51,372
2 years$26,736$26,238$25,755$25,288$24,834$24,050
3 years$17,647$17,147$16,666$16,202$15,756$14,992
4 years$13,103$12,605$12,128$11,673$11,237$10,500
5 years$10,378$9,882$9,412$8,966$8,542$7,834
6 years$8,561$8,070$7,606$7,170$6,759$6,080
7 years$7,265$6,777$6,321$5,895$5,497$4,847
8 years$6,292$5,809$5,361$4,945$4,560$3,939
9 years$5,537$5,058$4,617$4,212$3,840$3,249
10 years$4,932$4,458$4,025$3,631$3,272$2,709
11 years$4,438$3,969$3,544$3,160$2,814$2,279
12 years$4,027$3,562$3,145$2,772$2,439$1,931
13 years$3,679$3,219$2,810$2,447$2,127$1,645
14 years$3,381$2,926$2,525$2,172$1,864$1,408
15 years$3,123$2,673$2,279$1,937$1,641$1,211
16 years$2,897$2,453$2,067$1,735$1,451$1,044
17 years$2,699$2,259$1,881$1,558$1,286$903
18 years$2,522$2,087$1,717$1,404$1,144$783
19 years$2,365$1,934$1,572$1,269$1,019$680
20 years$2,223$1,797$1,442$1,149$911$592
21 years$2,095$1,674$1,327$1,043$815$516
22 years$1,978$1,563$1,223$948$730$450
23 years$1,872$1,462$1,129$864$656$393
24 years$1,775$1,370$1,044$788$589$344
25 years$1,686$1,285$967$719$530$301
26 years$1,604$1,208$897$658$478$263
27 years$1,528$1,137$833$602$431$231
28 years$1,458$1,071$774$552$389$202
29 years$1,392$1,011$720$506$351$177
30 years$1,331$954$671$464$317$156
31 years$1,274$902$626$426$287$137
32 years$1,221$854$584$392$259$120
33 years$1,171$808$545$360$235$106
34 years$1,124$766$509$332$212$93
35 years$1,080$727$476$305$192$81
36 years$1,039$690$445$281$174$72
37 years$999$655$417$259$158$63
38 years$962$623$390$239$143$55
39 years$927$592$366$220$130$49
40 years$894$563$343$203$118$43
41 years$863$536$321$187$107$38
42 years$833$511$302$173$97$33
43 years$804$487$283$160$88$29
44 years$777$464$266$147$80$26
45 years$751$442$249$136$73$23
46 years$727$422$234$126$66$20
47 years$703$403$220$116$60$17
48 years$681$384$207$107$54$15
49 years$659$367$194$99$49$14
50 years$639$351$183$92$45$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $654,000, adding $6,475 every year, while hoping to spend $46,826 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: 79/13/8 Blend
61$654,000$654,000$654,000$654,000
62$727,387$692,725$682,588$783,553
63$751,758$676,846$655,632$805,440
64$777,045$658,620$626,204$822,677
65$803,293$637,881$594,171$840,196
66$830,549$614,457$559,395$858,004
67$858,861$588,162$521,732$876,107
68$888,286$558,802$481,030$894,514
69$918,878$526,171$437,132$913,232
70$950,701$490,051$389,873$932,273
71$983,820$450,211$339,081$951,648
72$1,018,305$406,407$284,577$971,370
73$1,054,234$358,382$226,171$991,457
74$1,091,687$305,864$163,669$1,011,925
75$1,130,753$248,565$96,866$1,032,795
76$1,171,526$186,181$25,547$1,054,092
77$1,214,109$118,392$0$1,075,842
78$1,258,614$44,858$0$1,102,393
79$1,305,158$0$0$1,132,071
80$1,353,873$0$0$1,167,730
81$1,404,897$0$0$1,211,807
82$1,458,383$0$0$1,258,016
83$1,514,496$0$0$1,306,500
84$1,573,414$0$0$1,357,415
85$1,635,331$0$0$1,410,930
86$1,700,459$0$0$1,467,227
87$1,769,027$0$0$1,526,507
88$1,841,286$0$0$1,588,986
89$1,917,507$0$0$1,654,901
90$1,997,988$0$0$1,724,511
91$2,083,051$0$0$1,798,097
92$2,173,052$0$0$1,875,965
93$2,268,374$0$0$1,958,452
94$2,369,440$0$0$2,045,923
95$2,476,710$0$0$2,138,778
96$2,590,687$0$0$2,237,457
97$2,711,923$0$0$2,342,437
98$2,841,020$0$0$2,454,243
99$2,978,638$0$0$2,573,449
100$3,125,500$0$0$2,700,684