Can I retire at age 62 with 658,000?

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 $658,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$54,337$53,853$53,381$52,920$52,470$51,622
2 years$26,900$26,399$25,913$25,442$24,986$24,134
3 years$17,755$17,252$16,767$16,301$15,852$15,022
4 years$13,183$12,682$12,202$11,744$11,306$10,505
5 years$10,441$9,943$9,470$9,021$8,594$7,825
6 years$8,614$8,119$7,653$7,214$6,800$6,063
7 years$7,309$6,818$6,360$5,931$5,531$4,826
8 years$6,331$5,845$5,393$4,975$4,588$3,915
9 years$5,570$5,089$4,645$4,238$3,864$3,223
10 years$4,962$4,485$4,050$3,653$3,292$2,683
11 years$4,465$3,993$3,565$3,179$2,831$2,252
12 years$4,051$3,584$3,164$2,789$2,454$1,905
13 years$3,701$3,239$2,827$2,462$2,140$1,620
14 years$3,402$2,944$2,540$2,185$1,876$1,384
15 years$3,142$2,689$2,293$1,949$1,651$1,187
16 years$2,915$2,468$2,079$1,745$1,460$1,022
17 years$2,715$2,273$1,892$1,568$1,294$882
18 years$2,538$2,100$1,727$1,413$1,151$763
19 years$2,379$1,946$1,581$1,277$1,026$661
20 years$2,236$1,808$1,451$1,156$916$574
21 years$2,107$1,685$1,335$1,050$820$499
22 years$1,990$1,572$1,230$954$735$434
23 years$1,884$1,471$1,136$869$660$379
24 years$1,786$1,378$1,050$793$593$330
25 years$1,696$1,293$973$724$534$288
26 years$1,614$1,215$902$662$481$252
27 years$1,537$1,144$838$606$433$220
28 years$1,467$1,078$779$555$391$193
29 years$1,401$1,017$725$509$353$169
30 years$1,339$960$675$467$319$148
31 years$1,282$908$629$429$288$129
32 years$1,229$859$587$394$261$113
33 years$1,178$813$548$363$236$99
34 years$1,131$771$512$334$214$87
35 years$1,087$731$479$307$194$76
36 years$1,045$694$448$283$175$67
37 years$1,006$659$419$261$159$59
38 years$968$626$393$240$144$51
39 years$933$596$368$221$131$45
40 years$900$567$345$204$119$40
41 years$868$539$323$188$108$35
42 years$838$514$303$174$98$30
43 years$809$490$285$161$89$27
44 years$782$467$267$148$80$23
45 years$756$445$251$137$73$21
46 years$731$424$236$126$66$18
47 years$707$405$221$117$60$16
48 years$685$387$208$108$55$14
49 years$663$369$196$100$50$12
50 years$642$353$184$92$45$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $658,000, adding $5,047 every year, while hoping to spend $53,746 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: 57/27/16 Blend
61$658,000$658,000$658,000$658,000
62$730,322$695,448$685,249$768,629
63$747,629$672,340$651,019$772,083
64$764,901$646,298$613,842$769,547
65$782,076$617,121$573,561$765,553
66$799,087$584,599$530,014$759,973
67$815,855$548,506$483,031$752,666
68$832,295$508,605$432,435$743,481
69$848,308$464,646$378,040$732,256
70$863,784$416,363$319,654$718,814
71$878,601$363,475$257,073$702,965
72$892,621$305,688$190,088$684,505
73$905,690$242,688$118,477$663,211
74$917,635$174,145$42,011$638,845
75$928,265$99,709$0$611,147
76$937,365$19,012$0$586,596
77$944,698$0$0$566,224
78$949,998$0$0$562,871
79$952,971$0$0$563,671
80$953,287$0$0$562,770
81$950,585$0$0$559,937
82$944,458$0$0$554,918
83$934,460$0$0$547,430
84$920,092$0$0$537,160
85$900,803$0$0$523,759
86$875,984$0$0$506,844
87$844,956$0$0$485,987
88$806,972$0$0$460,718
89$761,203$0$0$430,514
90$706,730$0$0$394,797
91$642,539$0$0$352,928
92$567,508$0$0$304,202
93$480,396$0$0$247,837
94$379,831$0$0$182,970
95$264,297$0$0$108,646
96$132,119$0$0$23,813
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0