Can I retire at age 62 with 657,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%11%
1 years$54,254$53,771$53,300$52,839$52,390$52,169
2 years$26,859$26,358$25,874$25,404$24,948$24,725
3 years$17,728$17,226$16,742$16,276$15,828$15,610
4 years$13,163$12,663$12,184$11,726$11,289$11,077
5 years$10,425$9,928$9,455$9,007$8,581$8,377
6 years$8,601$8,107$7,641$7,203$6,790$6,593
7 years$7,298$6,808$6,350$5,922$5,522$5,333
8 years$6,321$5,836$5,385$4,968$4,581$4,399
9 years$5,562$5,081$4,638$4,231$3,858$3,683
10 years$4,955$4,479$4,044$3,647$3,287$3,120
11 years$4,459$3,987$3,560$3,174$2,827$2,667
12 years$4,045$3,579$3,159$2,784$2,450$2,297
13 years$3,696$3,234$2,823$2,458$2,136$1,990
14 years$3,396$2,940$2,536$2,182$1,873$1,733
15 years$3,137$2,685$2,290$1,946$1,649$1,516
16 years$2,911$2,464$2,076$1,742$1,457$1,331
17 years$2,711$2,269$1,889$1,566$1,292$1,172
18 years$2,534$2,097$1,725$1,411$1,149$1,035
19 years$2,375$1,943$1,579$1,275$1,024$916
20 years$2,233$1,806$1,449$1,155$915$813
21 years$2,104$1,682$1,333$1,048$819$722
22 years$1,987$1,570$1,228$953$734$642
23 years$1,881$1,468$1,134$868$659$572
24 years$1,783$1,376$1,049$791$592$511
25 years$1,694$1,291$971$723$533$456
26 years$1,611$1,213$901$661$480$408
27 years$1,535$1,142$837$605$433$365
28 years$1,464$1,076$778$554$390$326
29 years$1,399$1,015$724$508$352$292
30 years$1,337$959$674$466$318$262
31 years$1,280$906$629$428$288$235
32 years$1,227$858$586$394$260$211
33 years$1,177$812$548$362$236$189
34 years$1,130$770$512$333$213$170
35 years$1,085$730$478$307$193$153
36 years$1,043$693$447$282$175$137
37 years$1,004$658$419$260$159$123
38 years$967$625$392$240$144$111
39 years$932$595$367$221$131$100
40 years$898$566$344$204$118$90
41 years$867$539$323$188$107$81
42 years$836$513$303$174$97$73
43 years$808$489$284$160$88$65
44 years$781$466$267$148$80$59
45 years$755$444$251$137$73$53
46 years$730$424$235$126$66$48
47 years$706$404$221$117$60$43
48 years$684$386$208$108$55$39
49 years$662$369$195$100$50$35
50 years$641$352$184$92$45$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $657,000, adding $3,028 every year, while hoping to spend $20,906 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: 81/10/9 Blend
61$657,000$657,000$657,000$657,000
62$727,137$692,316$682,133$784,847
63$779,062$703,996$682,741$834,774
64$835,581$715,547$682,668$886,493
65$897,143$726,942$681,870$942,631
66$964,239$738,149$680,300$1,003,619
67$1,037,410$749,137$677,908$1,069,933
68$1,117,251$759,870$674,643$1,142,094
69$1,204,417$770,310$670,450$1,220,680
70$1,299,630$780,418$665,273$1,306,324
71$1,403,685$790,151$659,052$1,399,727
72$1,517,455$799,462$651,725$1,501,657
73$1,641,903$808,304$643,225$1,612,963
74$1,778,090$816,623$633,486$1,734,579
75$1,927,182$824,365$622,435$1,867,535
76$2,090,465$831,469$609,996$2,012,965
77$2,269,354$837,873$596,093$2,172,118
78$2,465,408$843,508$580,642$2,346,372
79$2,680,344$848,305$563,558$2,537,243
80$2,916,053$852,185$544,751$2,746,403
81$3,174,617$855,068$524,126$2,975,694
82$3,458,329$856,869$501,586$3,227,145
83$3,769,718$857,494$477,028$3,502,992
84$4,111,565$856,847$450,344$3,805,699
85$4,486,936$854,824$421,423$4,137,983
86$4,899,209$851,316$390,146$4,502,834
87$5,352,104$846,207$356,392$4,903,551
88$5,849,720$839,371$320,032$5,343,767
89$6,396,571$830,680$280,932$5,827,487
90$6,997,631$819,993$238,953$6,359,121
91$7,658,380$807,164$193,949$6,943,534
92$8,384,856$792,037$145,768$7,586,084
93$9,183,711$774,446$94,250$8,292,676
94$10,062,272$754,216$39,230$9,069,818
95$11,028,613$731,162$0$9,924,682
96$12,091,631$705,089$0$10,867,042
97$13,261,128$675,788$0$11,907,879
98$14,547,901$643,040$0$13,053,039
99$15,963,851$606,612$0$14,313,117
100$17,522,087$566,260$0$15,699,792