Can I retire at age 62 with 662,000?

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 $662,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$54,667$54,180$53,705$53,242$52,789$51,723
2 years$27,063$26,559$26,071$25,597$25,138$24,068
3 years$17,863$17,357$16,869$16,400$15,948$14,909
4 years$13,264$12,759$12,277$11,815$11,374$10,373
5 years$10,505$10,003$9,527$9,075$8,647$7,687
6 years$8,666$8,168$7,699$7,258$6,842$5,924
7 years$7,353$6,860$6,398$5,967$5,564$4,688
8 years$6,369$5,880$5,426$5,005$4,616$3,782
9 years$5,604$5,120$4,674$4,264$3,887$3,095
10 years$4,993$4,513$4,075$3,675$3,312$2,560
11 years$4,492$4,017$3,587$3,199$2,849$2,136
12 years$4,076$3,606$3,183$2,806$2,469$1,794
13 years$3,724$3,259$2,844$2,477$2,153$1,516
14 years$3,422$2,962$2,556$2,199$1,887$1,287
15 years$3,161$2,706$2,307$1,961$1,661$1,096
16 years$2,933$2,483$2,092$1,756$1,468$937
17 years$2,732$2,286$1,904$1,578$1,302$803
18 years$2,553$2,113$1,738$1,422$1,158$689
19 years$2,393$1,958$1,591$1,285$1,032$593
20 years$2,250$1,819$1,460$1,163$922$511
21 years$2,120$1,695$1,343$1,056$825$441
22 years$2,003$1,582$1,238$960$739$381
23 years$1,895$1,480$1,143$874$664$329
24 years$1,797$1,386$1,057$797$597$285
25 years$1,707$1,301$979$728$537$247
26 years$1,624$1,223$908$666$483$214
27 years$1,547$1,151$843$610$436$186
28 years$1,475$1,084$784$558$393$161
29 years$1,409$1,023$729$512$355$140
30 years$1,348$966$679$470$321$121
31 years$1,290$913$633$432$290$105
32 years$1,236$864$591$397$262$92
33 years$1,186$818$552$365$238$80
34 years$1,138$776$515$336$215$69
35 years$1,093$736$482$309$195$60
36 years$1,051$698$451$285$176$52
37 years$1,012$663$422$262$160$45
38 years$974$630$395$242$145$40
39 years$939$599$370$223$131$34
40 years$905$570$347$206$119$30
41 years$873$543$325$190$108$26
42 years$843$517$305$175$98$23
43 years$814$492$286$162$89$20
44 years$787$469$269$149$81$17
45 years$760$448$252$138$73$15
46 years$735$427$237$127$67$13
47 years$712$408$223$118$61$11
48 years$689$389$209$109$55$10
49 years$667$372$197$100$50$9
50 years$646$355$185$93$45$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $662,000, adding $3,762 every year, while hoping to spend $45,400 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: 74/9/17 Blend
61$662,000$662,000$662,000$662,000
62$733,405$698,319$688,058$784,561
63$759,907$684,231$662,802$804,872
64$787,590$667,931$635,179$821,186
65$816,528$649,264$605,061$837,864
66$846,798$628,062$572,315$854,933
67$878,486$604,152$536,803$872,420
68$911,684$577,347$498,378$890,358
69$946,491$547,452$456,888$908,782
70$983,015$514,260$412,176$927,735
71$1,021,375$477,550$364,076$947,261
72$1,061,697$437,092$312,414$967,413
73$1,104,120$392,640$257,010$988,250
74$1,148,795$343,934$197,676$1,009,836
75$1,195,888$290,702$134,213$1,032,246
76$1,245,575$232,654$66,416$1,055,563
77$1,298,054$169,484$0$1,079,879
78$1,353,537$100,870$0$1,106,374
79$1,412,256$26,471$0$1,147,016
80$1,474,465$0$0$1,189,917
81$1,540,441$0$0$1,240,622
82$1,610,488$0$0$1,297,253
83$1,684,937$0$0$1,357,458
84$1,764,149$0$0$1,421,533
85$1,848,524$0$0$1,489,800
86$1,938,494$0$0$1,562,613
87$2,034,535$0$0$1,640,360
88$2,137,170$0$0$1,723,465
89$2,246,969$0$0$1,812,395
90$2,364,560$0$0$1,907,659
91$2,490,630$0$0$2,009,818
92$2,625,933$0$0$2,119,486
93$2,771,297$0$0$2,237,337
94$2,927,629$0$0$2,364,111
95$3,095,928$0$0$2,500,620
96$3,277,288$0$0$2,647,758
97$3,472,912$0$0$2,806,505
98$3,684,122$0$0$2,977,937
99$3,912,370$0$0$3,163,237
100$4,159,253$0$0$3,363,707