Can I retire at age 62 with 657,000?

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 $657,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$54,254$53,771$53,300$52,839$52,390$51,735
2 years$26,859$26,358$25,874$25,404$24,948$24,289
3 years$17,728$17,226$16,742$16,276$15,828$15,185
4 years$13,163$12,663$12,184$11,726$11,289$10,668
5 years$10,425$9,928$9,455$9,007$8,581$7,984
6 years$8,601$8,107$7,641$7,203$6,790$6,216
7 years$7,298$6,808$6,350$5,922$5,522$4,972
8 years$6,321$5,836$5,385$4,968$4,581$4,055
9 years$5,562$5,081$4,638$4,231$3,858$3,356
10 years$4,955$4,479$4,044$3,647$3,287$2,809
11 years$4,459$3,987$3,560$3,174$2,827$2,372
12 years$4,045$3,579$3,159$2,784$2,450$2,017
13 years$3,696$3,234$2,823$2,458$2,136$1,725
14 years$3,396$2,940$2,536$2,182$1,873$1,483
15 years$3,137$2,685$2,290$1,946$1,649$1,280
16 years$2,911$2,464$2,076$1,742$1,457$1,108
17 years$2,711$2,269$1,889$1,566$1,292$963
18 years$2,534$2,097$1,725$1,411$1,149$838
19 years$2,375$1,943$1,579$1,275$1,024$731
20 years$2,233$1,806$1,449$1,155$915$639
21 years$2,104$1,682$1,333$1,048$819$559
22 years$1,987$1,570$1,228$953$734$490
23 years$1,881$1,468$1,134$868$659$430
24 years$1,783$1,376$1,049$791$592$378
25 years$1,694$1,291$971$723$533$332
26 years$1,611$1,213$901$661$480$293
27 years$1,535$1,142$837$605$433$258
28 years$1,464$1,076$778$554$390$227
29 years$1,399$1,015$724$508$352$200
30 years$1,337$959$674$466$318$176
31 years$1,280$906$629$428$288$156
32 years$1,227$858$586$394$260$137
33 years$1,177$812$548$362$236$121
34 years$1,130$770$512$333$213$107
35 years$1,085$730$478$307$193$95
36 years$1,043$693$447$282$175$84
37 years$1,004$658$419$260$159$74
38 years$967$625$392$240$144$65
39 years$932$595$367$221$131$58
40 years$898$566$344$204$118$51
41 years$867$539$323$188$107$45
42 years$836$513$303$174$97$40
43 years$808$489$284$160$88$35
44 years$781$466$267$148$80$31
45 years$755$444$251$137$73$28
46 years$730$424$235$126$66$24
47 years$706$404$221$117$60$22
48 years$684$386$208$108$55$19
49 years$662$369$195$100$50$17
50 years$641$352$184$92$45$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $657,000, adding $3,711 every year, while hoping to spend $52,274 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: 58/22/20 Blend
61$657,000$657,000$657,000$657,000
62$727,842$693,021$682,837$765,992
63$746,463$671,360$650,093$770,682
64$765,231$646,885$614,500$769,807
65$784,106$619,404$575,908$767,691
66$803,042$588,713$534,158$764,224
67$821,987$554,594$489,087$759,291
68$840,881$516,821$440,523$752,763
69$859,657$475,150$388,286$744,507
70$878,237$429,328$332,189$734,374
71$896,535$379,083$272,035$722,207
72$914,455$324,131$207,621$707,836
73$931,886$264,171$138,733$691,078
74$948,706$198,883$65,149$671,735
75$964,777$127,931$0$649,593
76$979,946$50,962$0$627,277
77$994,040$0$0$616,706
78$1,006,867$0$0$611,591
79$1,018,213$0$0$617,836
80$1,027,838$0$0$622,950
81$1,035,476$0$0$626,761
82$1,040,832$0$0$629,080
83$1,043,576$0$0$629,694
84$1,043,342$0$0$628,369
85$1,039,724$0$0$624,843
86$1,032,270$0$0$618,829
87$1,020,481$0$0$610,003
88$1,003,801$0$0$598,011
89$981,616$0$0$582,459
90$953,244$0$0$562,908
91$917,930$0$0$538,876
92$874,839$0$0$509,828
93$823,045$0$0$475,170
94$761,527$0$0$434,247
95$689,152$0$0$386,334
96$604,667$0$0$330,629
97$506,690$0$0$266,247
98$393,690$0$0$192,207
99$263,976$0$0$107,427
100$115,681$0$0$10,712