Can I retire at age 62 with 656,000?

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 $656,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$54,172$53,689$53,219$52,759$52,310$51,317
2 years$26,818$26,318$25,834$25,365$24,910$23,913
3 years$17,701$17,199$16,716$16,252$15,804$14,834
4 years$13,143$12,643$12,165$11,708$11,271$10,337
5 years$10,410$9,913$9,441$8,993$8,568$7,672
6 years$8,588$8,094$7,630$7,192$6,780$5,922
7 years$7,287$6,798$6,340$5,913$5,514$4,695
8 years$6,312$5,827$5,377$4,960$4,574$3,794
9 years$5,553$5,073$4,631$4,225$3,852$3,110
10 years$4,947$4,472$4,038$3,642$3,282$2,577
11 years$4,452$3,981$3,555$3,170$2,823$2,155
12 years$4,039$3,573$3,155$2,780$2,446$1,814
13 years$3,690$3,229$2,818$2,454$2,133$1,535
14 years$3,391$2,935$2,532$2,179$1,870$1,306
15 years$3,133$2,681$2,286$1,943$1,646$1,114
16 years$2,906$2,460$2,073$1,740$1,455$954
17 years$2,707$2,266$1,886$1,563$1,290$820
18 years$2,530$2,094$1,722$1,409$1,147$705
19 years$2,372$1,940$1,576$1,273$1,023$608
20 years$2,230$1,803$1,447$1,153$913$525
21 years$2,101$1,679$1,331$1,046$817$454
22 years$1,984$1,568$1,226$951$733$393
23 years$1,878$1,466$1,132$866$658$341
24 years$1,781$1,374$1,047$790$591$296
25 years$1,691$1,289$970$722$532$257
26 years$1,609$1,212$900$660$479$223
27 years$1,533$1,140$835$604$432$194
28 years$1,462$1,074$777$553$390$169
29 years$1,396$1,014$723$507$352$147
30 years$1,335$957$673$466$318$128
31 years$1,278$905$628$428$288$111
32 years$1,225$856$586$393$260$97
33 years$1,175$811$547$361$235$84
34 years$1,128$769$511$333$213$74
35 years$1,084$729$478$306$193$64
36 years$1,042$692$447$282$175$56
37 years$1,003$657$418$260$158$49
38 years$965$625$392$239$144$42
39 years$930$594$367$221$130$37
40 years$897$565$344$204$118$32
41 years$865$538$322$188$107$28
42 years$835$512$302$173$97$25
43 years$807$488$284$160$88$21
44 years$779$465$266$148$80$19
45 years$754$444$250$137$73$16
46 years$729$423$235$126$66$14
47 years$705$404$221$116$60$12
48 years$683$386$207$108$54$11
49 years$661$368$195$99$49$9
50 years$640$352$183$92$45$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $656,000, adding $3,139 every year, while hoping to spend $35,664 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: 63/28/9 Blend
61$656,000$656,000$656,000$656,000
62$726,150$691,382$681,214$770,310
63$762,271$687,313$666,088$796,122
64$800,881$681,850$649,261$819,854
65$842,196$674,886$630,637$844,860
66$886,454$666,310$610,117$871,261
67$933,914$656,001$587,597$899,195
68$984,862$643,833$562,971$928,811
69$1,039,611$629,674$536,123$960,278
70$1,098,505$613,381$506,936$993,781
71$1,161,920$594,805$475,286$1,029,528
72$1,230,272$573,786$441,045$1,067,748
73$1,304,016$550,158$404,076$1,108,694
74$1,383,651$523,741$364,238$1,152,650
75$1,469,728$494,349$321,385$1,199,927
76$1,562,851$461,783$275,361$1,250,872
77$1,663,683$425,832$226,008$1,305,871
78$1,772,955$386,274$173,155$1,365,348
79$1,891,470$342,874$116,629$1,429,777
80$2,020,109$295,385$56,246$1,499,681
81$2,159,845$243,543$0$1,575,637
82$2,311,745$187,073$0$1,659,077
83$2,476,984$125,680$0$1,755,737
84$2,656,854$59,057$0$1,861,019
85$2,852,779$0$0$1,975,813
86$3,066,324$0$0$2,105,150
87$3,299,210$0$0$2,266,087
88$3,553,335$0$0$2,441,747
89$3,830,785$0$0$2,633,576
90$4,133,857$0$0$2,843,168
91$4,465,082$0$0$3,072,280
92$4,827,243$0$0$3,322,843
93$5,223,406$0$0$3,596,985
94$5,656,947$0$0$3,897,049
95$6,131,583$0$0$4,225,614
96$6,651,407$0$0$4,585,521
97$7,220,927$0$0$4,979,899
98$7,845,107$0$0$5,412,193
99$8,529,414$0$0$5,886,197
100$9,279,870$0$0$6,406,093