Can I retire at age 62 with 660,000?

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 $660,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$54,502$54,017$53,543$53,081$52,629$51,399
2 years$26,981$26,479$25,992$25,520$25,062$23,829
3 years$17,809$17,304$16,818$16,351$15,900$14,704
4 years$13,224$12,720$12,239$11,780$11,340$10,189
5 years$10,473$9,973$9,498$9,048$8,621$7,518
6 years$8,640$8,144$7,676$7,236$6,821$5,769
7 years$7,331$6,839$6,379$5,949$5,547$4,545
8 years$6,350$5,862$5,410$4,990$4,602$3,649
9 years$5,587$5,104$4,659$4,251$3,876$2,972
10 years$4,977$4,499$4,062$3,664$3,302$2,446
11 years$4,479$4,005$3,576$3,189$2,840$2,031
12 years$4,064$3,595$3,174$2,797$2,461$1,697
13 years$3,713$3,249$2,836$2,469$2,146$1,426
14 years$3,412$2,953$2,548$2,192$1,881$1,204
15 years$3,152$2,698$2,300$1,955$1,656$1,020
16 years$2,924$2,475$2,086$1,750$1,464$867
17 years$2,723$2,279$1,898$1,573$1,298$738
18 years$2,545$2,106$1,732$1,417$1,154$630
19 years$2,386$1,952$1,586$1,281$1,029$539
20 years$2,243$1,814$1,456$1,160$919$462
21 years$2,114$1,690$1,339$1,053$822$396
22 years$1,996$1,577$1,234$957$737$340
23 years$1,889$1,475$1,139$872$662$292
24 years$1,792$1,382$1,054$795$595$251
25 years$1,702$1,297$976$726$535$216
26 years$1,619$1,219$905$664$482$186
27 years$1,542$1,147$840$608$435$160
28 years$1,471$1,081$781$557$392$138
29 years$1,405$1,020$727$511$354$119
30 years$1,343$963$677$469$320$103
31 years$1,286$910$631$430$289$89
32 years$1,232$861$589$395$262$77
33 years$1,182$816$550$364$237$66
34 years$1,135$773$514$335$214$57
35 years$1,090$733$480$308$194$49
36 years$1,048$696$449$284$176$43
37 years$1,009$661$421$261$159$37
38 years$971$628$394$241$145$32
39 years$936$597$369$222$131$27
40 years$902$568$346$205$119$24
41 years$871$541$324$189$108$20
42 years$840$515$304$174$98$18
43 years$812$491$286$161$89$15
44 years$784$468$268$149$81$13
45 years$758$446$252$137$73$11
46 years$733$426$236$127$66$10
47 years$710$406$222$117$60$9
48 years$687$388$209$108$55$7
49 years$665$370$196$100$50$6
50 years$644$354$184$93$45$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $660,000, adding $5,909 every year, while hoping to spend $23,684 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: 65/20/15 Blend
61$660,000$660,000$660,000$660,000
62$733,415$698,435$688,205$778,071
63$783,024$707,459$686,060$817,706
64$836,899$716,131$683,050$857,714
65$895,450$724,409$679,120$900,848
66$959,130$732,249$674,214$947,414
67$1,028,433$739,601$668,272$997,748
68$1,103,907$746,415$661,233$1,052,221
69$1,186,151$752,635$653,030$1,111,242
70$1,275,829$758,205$643,597$1,175,262
71$1,373,668$763,061$632,862$1,244,778
72$1,480,469$767,138$620,750$1,320,340
73$1,597,114$770,365$607,182$1,402,551
74$1,724,575$772,668$592,078$1,492,081
75$1,863,920$773,967$575,351$1,589,664
76$2,016,326$774,178$556,912$1,696,112
77$2,183,091$773,212$536,667$1,812,320
78$2,365,639$770,973$514,519$1,939,276
79$2,565,544$767,360$490,365$2,078,068
80$2,784,535$762,266$464,098$2,229,896
81$3,024,518$755,578$435,606$2,396,085
82$3,287,593$747,175$404,772$2,578,095
83$3,576,070$736,929$371,474$2,777,536
84$3,892,496$724,705$335,585$2,996,183
85$4,239,674$710,360$296,972$3,235,995
86$4,620,695$693,741$255,494$3,499,130
87$5,038,959$674,688$211,007$3,787,971
88$5,498,216$653,030$163,358$4,105,141
89$6,002,593$628,588$112,390$4,453,537
90$6,556,639$601,170$57,936$4,836,350
91$7,165,363$570,575$0$5,257,101
92$7,834,286$536,588$0$5,719,698
93$8,569,488$498,986$0$6,238,289
94$9,377,667$457,528$0$6,808,342
95$10,266,205$411,962$0$7,435,088
96$11,243,232$362,023$0$8,124,297
97$12,317,707$307,427$0$8,882,326
98$13,499,499$247,877$0$9,716,182
99$14,799,485$183,060$0$10,633,589
100$16,229,644$112,642$0$11,643,059