Can I retire at age 62 with 661,000?

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 $661,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$54,585$54,099$53,624$53,161$52,709$52,443
2 years$27,022$26,519$26,031$25,558$25,100$24,831
3 years$17,836$17,330$16,844$16,375$15,924$15,661
4 years$13,244$12,740$12,258$11,798$11,357$11,102
5 years$10,489$9,988$9,513$9,062$8,634$8,387
6 years$8,653$8,156$7,688$7,247$6,831$6,594
7 years$7,342$6,849$6,389$5,958$5,556$5,328
8 years$6,360$5,871$5,418$4,998$4,609$4,390
9 years$5,596$5,112$4,666$4,257$3,882$3,671
10 years$4,985$4,506$4,068$3,670$3,307$3,106
11 years$4,486$4,011$3,582$3,194$2,844$2,652
12 years$4,070$3,600$3,179$2,801$2,465$2,281
13 years$3,718$3,254$2,840$2,473$2,149$1,974
14 years$3,417$2,958$2,552$2,195$1,884$1,717
15 years$3,156$2,702$2,304$1,958$1,659$1,500
16 years$2,928$2,479$2,089$1,753$1,466$1,315
17 years$2,728$2,283$1,901$1,575$1,300$1,157
18 years$2,549$2,109$1,735$1,420$1,156$1,020
19 years$2,390$1,955$1,588$1,283$1,030$901
20 years$2,247$1,817$1,458$1,162$920$798
21 years$2,117$1,692$1,341$1,054$824$708
22 years$2,000$1,580$1,236$959$738$629
23 years$1,892$1,477$1,141$873$663$560
24 years$1,794$1,384$1,055$796$596$499
25 years$1,704$1,299$977$727$536$445
26 years$1,621$1,221$906$665$483$397
27 years$1,544$1,149$842$609$435$354
28 years$1,473$1,083$783$558$393$317
29 years$1,407$1,021$728$511$355$283
30 years$1,346$965$678$469$320$254
31 years$1,288$912$632$431$290$227
32 years$1,234$863$590$396$262$203
33 years$1,184$817$551$364$237$182
34 years$1,136$774$515$335$215$163
35 years$1,092$735$481$309$194$147
36 years$1,050$697$450$284$176$131
37 years$1,010$662$421$262$160$118
38 years$973$629$395$241$145$106
39 years$937$598$370$222$131$95
40 years$904$569$346$205$119$85
41 years$872$542$325$189$108$77
42 years$842$516$305$175$98$69
43 years$813$492$286$161$89$62
44 years$785$469$268$149$81$56
45 years$759$447$252$138$73$50
46 years$734$426$237$127$67$45
47 years$711$407$222$117$60$40
48 years$688$388$209$108$55$36
49 years$666$371$196$100$50$33
50 years$645$354$185$93$45$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $661,000, adding $4,167 every year, while hoping to spend $59,631 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: 31/43/26 Blend
61$661,000$661,000$661,000$661,000
62$732,720$697,687$687,442$749,476
63$744,011$668,427$647,024$733,434
64$754,454$635,734$603,254$710,616
65$763,902$599,378$555,956$684,862
66$772,186$559,114$504,947$655,954
67$779,122$514,684$450,036$623,662
68$784,503$465,814$391,022$587,737
69$788,099$412,216$327,698$547,917
70$789,655$353,584$259,846$503,916
71$788,886$289,595$187,237$455,432
72$785,477$219,910$109,634$402,139
73$779,078$144,169$26,789$343,689
74$769,301$61,990$0$279,709
75$755,716$0$0$226,894
76$737,846$0$0$189,548
77$715,162$0$0$179,829
78$687,079$0$0$168,204
79$652,949$0$0$154,449
80$612,055$0$0$138,318
81$563,603$0$0$119,536
82$506,717$0$0$97,803
83$440,426$0$0$72,785
84$363,657$0$0$44,112
85$275,224$0$0$11,378
86$173,816$0$0$0
87$57,987$0$0$0
88$0$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