Can I retire at age 62 with 659,000?

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 $659,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$54,420$53,935$53,462$53,000$52,550$51,342
2 years$26,940$26,439$25,952$25,481$25,024$23,813
3 years$17,782$17,278$16,793$16,326$15,876$14,701
4 years$13,203$12,701$12,221$11,762$11,323$10,193
5 years$10,457$9,958$9,484$9,034$8,607$7,525
6 years$8,627$8,131$7,664$7,225$6,811$5,777
7 years$7,320$6,829$6,369$5,940$5,539$4,554
8 years$6,340$5,853$5,402$4,983$4,595$3,659
9 years$5,579$5,096$4,652$4,244$3,870$2,981
10 years$4,970$4,492$4,056$3,659$3,297$2,456
11 years$4,472$3,999$3,571$3,184$2,836$2,040
12 years$4,058$3,589$3,169$2,793$2,457$1,706
13 years$3,707$3,244$2,831$2,466$2,143$1,434
14 years$3,407$2,949$2,544$2,189$1,878$1,212
15 years$3,147$2,694$2,297$1,952$1,654$1,027
16 years$2,920$2,471$2,082$1,748$1,462$873
17 years$2,719$2,276$1,895$1,570$1,296$745
18 years$2,542$2,103$1,730$1,415$1,152$636
19 years$2,383$1,949$1,584$1,279$1,027$544
20 years$2,240$1,811$1,453$1,158$917$467
21 years$2,111$1,687$1,337$1,051$821$401
22 years$1,993$1,575$1,232$956$736$344
23 years$1,887$1,473$1,138$870$661$296
24 years$1,789$1,380$1,052$794$594$255
25 years$1,699$1,295$974$725$534$219
26 years$1,616$1,217$904$663$481$189
27 years$1,540$1,145$839$607$434$163
28 years$1,469$1,079$780$556$392$141
29 years$1,403$1,018$726$510$354$121
30 years$1,341$962$676$468$319$105
31 years$1,284$909$630$430$289$91
32 years$1,230$860$588$395$261$78
33 years$1,180$815$549$363$236$68
34 years$1,133$772$513$334$214$58
35 years$1,089$732$480$308$194$50
36 years$1,047$695$449$283$176$44
37 years$1,007$660$420$261$159$38
38 years$970$627$393$241$144$33
39 years$934$597$369$222$131$28
40 years$901$568$345$205$119$24
41 years$869$540$324$189$108$21
42 years$839$515$304$174$98$18
43 years$810$490$285$161$89$16
44 years$783$467$268$148$81$14
45 years$757$446$251$137$73$12
46 years$732$425$236$127$66$10
47 years$708$406$222$117$60$9
48 years$686$387$208$108$55$8
49 years$664$370$196$100$50$7
50 years$643$353$184$92$45$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $659,000, adding $4,293 every year, while hoping to spend $38,849 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: 73/17/10 Blend
61$659,000$659,000$659,000$659,000
62$730,646$695,719$685,505$782,309
63$763,837$688,474$667,134$809,761
64$799,111$679,573$646,846$834,566
65$836,641$668,891$624,535$860,661
66$876,612$656,302$600,092$888,165
67$919,232$641,666$573,400$917,206
68$964,725$624,839$544,340$947,926
69$1,013,338$605,667$512,787$980,484
70$1,065,342$583,987$478,608$1,015,055
71$1,121,031$559,628$441,666$1,051,833
72$1,180,733$532,405$401,818$1,091,031
73$1,244,802$502,128$358,914$1,132,887
74$1,313,631$468,592$312,797$1,177,664
75$1,387,650$431,581$263,303$1,225,651
76$1,467,329$390,867$210,263$1,277,170
77$1,553,186$346,210$153,497$1,332,576
78$1,645,792$297,354$92,819$1,392,263
79$1,745,769$244,031$28,035$1,456,665
80$1,853,806$185,957$0$1,526,264
81$1,970,656$122,831$0$1,605,975
82$2,097,150$54,336$0$1,695,481
83$2,234,199$0$0$1,792,459
84$2,382,805$0$0$1,901,369
85$2,544,073$0$0$2,030,614
86$2,719,213$0$0$2,171,003
87$2,909,561$0$0$2,323,611
88$3,116,583$0$0$2,489,616
89$3,341,894$0$0$2,670,317
90$3,587,271$0$0$2,867,142
91$3,854,668$0$0$3,081,664
92$4,146,236$0$0$3,315,613
93$4,464,344$0$0$3,570,892
94$4,811,598$0$0$3,849,598
95$5,190,865$0$0$4,154,038
96$5,605,306$0$0$4,486,752
97$6,058,396$0$0$4,850,536
98$6,553,963$0$0$5,248,470
99$7,096,224$0$0$5,683,942
100$7,689,818$0$0$6,160,688