Can I retire at age 62 with 658,000?

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 $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%12.5%
1 years$54,337$53,853$53,381$52,920$52,470$51,922
2 years$26,900$26,399$25,913$25,442$24,986$24,434
3 years$17,755$17,252$16,767$16,301$15,852$15,313
4 years$13,183$12,682$12,202$11,744$11,306$10,785
5 years$10,441$9,943$9,470$9,021$8,594$8,092
6 years$8,614$8,119$7,653$7,214$6,800$6,318
7 years$7,309$6,818$6,360$5,931$5,531$5,068
8 years$6,331$5,845$5,393$4,975$4,588$4,145
9 years$5,570$5,089$4,645$4,238$3,864$3,440
10 years$4,962$4,485$4,050$3,653$3,292$2,888
11 years$4,465$3,993$3,565$3,179$2,831$2,446
12 years$4,051$3,584$3,164$2,789$2,454$2,087
13 years$3,701$3,239$2,827$2,462$2,140$1,791
14 years$3,402$2,944$2,540$2,185$1,876$1,545
15 years$3,142$2,689$2,293$1,949$1,651$1,338
16 years$2,915$2,468$2,079$1,745$1,460$1,162
17 years$2,715$2,273$1,892$1,568$1,294$1,013
18 years$2,538$2,100$1,727$1,413$1,151$885
19 years$2,379$1,946$1,581$1,277$1,026$775
20 years$2,236$1,808$1,451$1,156$916$680
21 years$2,107$1,685$1,335$1,050$820$597
22 years$1,990$1,572$1,230$954$735$526
23 years$1,884$1,471$1,136$869$660$463
24 years$1,786$1,378$1,050$793$593$408
25 years$1,696$1,293$973$724$534$361
26 years$1,614$1,215$902$662$481$318
27 years$1,537$1,144$838$606$433$282
28 years$1,467$1,078$779$555$391$249
29 years$1,401$1,017$725$509$353$220
30 years$1,339$960$675$467$319$195
31 years$1,282$908$629$429$288$173
32 years$1,229$859$587$394$261$153
33 years$1,178$813$548$363$236$136
34 years$1,131$771$512$334$214$121
35 years$1,087$731$479$307$194$107
36 years$1,045$694$448$283$175$95
37 years$1,006$659$419$261$159$84
38 years$968$626$393$240$144$75
39 years$933$596$368$221$131$66
40 years$900$567$345$204$119$59
41 years$868$539$323$188$108$52
42 years$838$514$303$174$98$46
43 years$809$490$285$161$89$41
44 years$782$467$267$148$80$37
45 years$756$445$251$137$73$33
46 years$731$424$236$126$66$29
47 years$707$405$221$117$60$26
48 years$685$387$208$108$55$23
49 years$663$369$196$100$50$20
50 years$642$353$184$92$45$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $658,000, adding $3,596 every year, while hoping to spend $29,585 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: 70/21/9 Blend
61$658,000$658,000$658,000$658,000
62$728,825$693,951$683,752$778,371
63$771,687$696,477$675,180$814,175
64$817,930$698,134$665,329$849,379
65$867,866$698,850$654,124$887,102
66$921,841$698,546$641,490$927,585
67$980,232$697,139$627,344$971,095
68$1,043,458$694,541$611,602$1,017,925
69$1,111,974$690,657$594,174$1,068,401
70$1,186,285$685,389$574,968$1,122,878
71$1,266,943$678,630$553,887$1,181,753
72$1,354,558$670,269$530,829$1,245,460
73$1,449,799$660,188$505,688$1,314,480
74$1,553,402$648,261$478,352$1,389,344
75$1,666,178$634,355$448,706$1,470,637
76$1,789,019$618,329$416,628$1,559,004
77$1,922,905$600,033$381,991$1,655,157
78$2,068,917$579,311$344,663$1,759,883
79$2,228,243$555,994$304,506$1,874,050
80$2,402,192$529,905$261,375$1,998,613
81$2,592,204$500,859$215,120$2,134,629
82$2,799,864$468,656$165,581$2,283,263
83$3,026,918$433,088$112,596$2,445,801
84$3,275,288$393,934$55,992$2,623,659
85$3,547,089$350,959$0$2,818,402
86$3,844,653$303,916$0$3,032,181
87$4,170,544$252,545$0$3,272,240
88$4,527,589$196,569$0$3,535,317
89$4,918,900$135,698$0$3,823,746
90$5,347,904$69,623$0$4,140,106
91$5,818,375$0$0$4,487,234
92$6,334,471$0$0$4,868,722
93$6,900,771$0$0$5,305,009
94$7,522,320$0$0$5,783,897
95$8,204,674$0$0$6,309,672
96$8,953,953$0$0$6,887,054
97$9,776,898$0$0$7,521,244
98$10,680,938$0$0$8,217,969
99$11,674,254$0$0$8,983,542
100$12,765,860$0$0$9,824,915