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%13.4%
1 years$54,254$53,771$53,300$52,839$52,390$51,650
2 years$26,859$26,358$25,874$25,404$24,948$24,203
3 years$17,728$17,226$16,742$16,276$15,828$15,102
4 years$13,163$12,663$12,184$11,726$11,289$10,588
5 years$10,425$9,928$9,455$9,007$8,581$7,907
6 years$8,601$8,107$7,641$7,203$6,790$6,144
7 years$7,298$6,808$6,350$5,922$5,522$4,903
8 years$6,321$5,836$5,385$4,968$4,581$3,990
9 years$5,562$5,081$4,638$4,231$3,858$3,294
10 years$4,955$4,479$4,044$3,647$3,287$2,750
11 years$4,459$3,987$3,560$3,174$2,827$2,316
12 years$4,045$3,579$3,159$2,784$2,450$1,965
13 years$3,696$3,234$2,823$2,458$2,136$1,677
14 years$3,396$2,940$2,536$2,182$1,873$1,437
15 years$3,137$2,685$2,290$1,946$1,649$1,237
16 years$2,911$2,464$2,076$1,742$1,457$1,068
17 years$2,711$2,269$1,889$1,566$1,292$925
18 years$2,534$2,097$1,725$1,411$1,149$803
19 years$2,375$1,943$1,579$1,275$1,024$699
20 years$2,233$1,806$1,449$1,155$915$609
21 years$2,104$1,682$1,333$1,048$819$531
22 years$1,987$1,570$1,228$953$734$464
23 years$1,881$1,468$1,134$868$659$406
24 years$1,783$1,376$1,049$791$592$356
25 years$1,694$1,291$971$723$533$312
26 years$1,611$1,213$901$661$480$274
27 years$1,535$1,142$837$605$433$240
28 years$1,464$1,076$778$554$390$211
29 years$1,399$1,015$724$508$352$185
30 years$1,337$959$674$466$318$163
31 years$1,280$906$629$428$288$143
32 years$1,227$858$586$394$260$126
33 years$1,177$812$548$362$236$111
34 years$1,130$770$512$333$213$98
35 years$1,085$730$478$307$193$86
36 years$1,043$693$447$282$175$76
37 years$1,004$658$419$260$159$67
38 years$967$625$392$240$144$59
39 years$932$595$367$221$131$52
40 years$898$566$344$204$118$46
41 years$867$539$323$188$107$40
42 years$836$513$303$174$97$35
43 years$808$489$284$160$88$31
44 years$781$466$267$148$80$27
45 years$755$444$251$137$73$24
46 years$730$424$235$126$66$21
47 years$706$404$221$117$60$19
48 years$684$386$208$108$55$17
49 years$662$369$195$100$50$15
50 years$641$352$184$92$45$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $657,000, adding $5,061 every year, while hoping to spend $41,158 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: 53/32/15 Blend
61$657,000$657,000$657,000$657,000
62$729,234$694,413$684,230$764,700
63$759,825$684,648$663,360$779,717
64$792,155$673,024$640,411$791,244
65$826,361$659,408$615,271$802,861
66$862,588$643,658$587,821$814,586
67$900,996$625,621$557,937$826,445
68$941,761$605,139$525,490$838,465
69$985,072$582,043$490,346$850,681
70$1,031,139$556,153$452,363$863,132
71$1,080,192$527,281$411,393$875,867
72$1,132,480$495,226$367,283$888,940
73$1,188,277$459,777$319,872$902,416
74$1,247,885$420,709$268,991$916,369
75$1,311,633$377,788$214,466$930,886
76$1,379,882$330,761$156,113$946,065
77$1,453,028$279,366$93,740$962,019
78$1,531,504$223,323$27,148$978,878
79$1,615,790$162,338$0$996,788
80$1,706,406$96,098$0$1,022,947
81$1,803,928$24,276$0$1,055,609
82$1,908,987$0$0$1,090,676
83$2,022,275$0$0$1,147,260
84$2,144,553$0$0$1,217,611
85$2,276,658$0$0$1,293,668
86$2,419,508$0$0$1,375,966
87$2,574,115$0$0$1,465,094
88$2,741,587$0$0$1,561,700
89$2,923,146$0$0$1,666,496
90$3,120,134$0$0$1,780,264
91$3,334,029$0$0$1,903,866
92$3,566,453$0$0$2,038,248
93$3,819,194$0$0$2,184,453
94$4,094,216$0$0$2,343,628
95$4,393,683$0$0$2,517,034
96$4,719,974$0$0$2,706,060
97$5,075,708$0$0$2,912,233
98$5,463,768$0$0$3,137,236
99$5,887,325$0$0$3,382,920
100$6,349,871$0$0$3,651,323