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%13.4%
1 years$54,337$53,853$53,381$52,920$52,470$51,728
2 years$26,900$26,399$25,913$25,442$24,986$24,240
3 years$17,755$17,252$16,767$16,301$15,852$15,125
4 years$13,183$12,682$12,202$11,744$11,306$10,604
5 years$10,441$9,943$9,470$9,021$8,594$7,919
6 years$8,614$8,119$7,653$7,214$6,800$6,153
7 years$7,309$6,818$6,360$5,931$5,531$4,911
8 years$6,331$5,845$5,393$4,975$4,588$3,996
9 years$5,570$5,089$4,645$4,238$3,864$3,299
10 years$4,962$4,485$4,050$3,653$3,292$2,754
11 years$4,465$3,993$3,565$3,179$2,831$2,320
12 years$4,051$3,584$3,164$2,789$2,454$1,968
13 years$3,701$3,239$2,827$2,462$2,140$1,679
14 years$3,402$2,944$2,540$2,185$1,876$1,439
15 years$3,142$2,689$2,293$1,949$1,651$1,239
16 years$2,915$2,468$2,079$1,745$1,460$1,070
17 years$2,715$2,273$1,892$1,568$1,294$927
18 years$2,538$2,100$1,727$1,413$1,151$804
19 years$2,379$1,946$1,581$1,277$1,026$700
20 years$2,236$1,808$1,451$1,156$916$610
21 years$2,107$1,685$1,335$1,050$820$532
22 years$1,990$1,572$1,230$954$735$465
23 years$1,884$1,471$1,136$869$660$407
24 years$1,786$1,378$1,050$793$593$356
25 years$1,696$1,293$973$724$534$312
26 years$1,614$1,215$902$662$481$274
27 years$1,537$1,144$838$606$433$240
28 years$1,467$1,078$779$555$391$211
29 years$1,401$1,017$725$509$353$186
30 years$1,339$960$675$467$319$163
31 years$1,282$908$629$429$288$143
32 years$1,229$859$587$394$261$126
33 years$1,178$813$548$363$236$111
34 years$1,131$771$512$334$214$98
35 years$1,087$731$479$307$194$86
36 years$1,045$694$448$283$175$76
37 years$1,006$659$419$261$159$67
38 years$968$626$393$240$144$59
39 years$933$596$368$221$131$52
40 years$900$567$345$204$119$46
41 years$868$539$323$188$108$40
42 years$838$514$303$174$98$35
43 years$809$490$285$161$89$31
44 years$782$467$267$148$80$28
45 years$756$445$251$137$73$24
46 years$731$424$236$126$66$21
47 years$707$405$221$117$60$19
48 years$685$387$208$108$55$17
49 years$663$369$196$100$50$15
50 years$642$353$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 $658,000, adding $3,221 every year, while hoping to spend $58,614 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: 68/11/21 Blend
61$658,000$658,000$658,000$658,000
62$728,438$693,564$683,365$773,936
63$740,374$665,184$643,893$776,410
64$751,563$633,449$601,134$772,013
65$761,867$598,132$554,917$765,794
66$771,131$558,995$505,061$757,571
67$779,185$515,784$451,378$747,145
68$785,836$468,231$393,673$734,300
69$790,871$416,054$331,741$718,799
70$794,054$358,955$265,369$700,383
71$795,120$296,617$194,331$678,771
72$793,778$228,706$118,397$653,655
73$789,701$154,871$37,321$624,696
74$782,530$74,739$0$591,528
75$771,865$0$0$564,772
76$757,261$0$0$544,068
77$738,227$0$0$529,068
78$714,220$0$0$510,318
79$684,636$0$0$487,364
80$648,807$0$0$459,707
81$605,996$0$0$426,792
82$555,384$0$0$388,005
83$496,069$0$0$342,669
84$427,051$0$0$290,034
85$347,225$0$0$229,271
86$255,370$0$0$159,465
87$150,137$0$0$79,602
88$30,034$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0