Can I retire at age 62 with 663,000?

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 $663,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$54,750$54,262$53,786$53,322$52,869$51,611
2 years$27,104$26,599$26,110$25,636$25,176$23,916
3 years$17,890$17,383$16,895$16,425$15,972$14,750
4 years$13,284$12,778$12,295$11,833$11,392$10,216
5 years$10,521$10,018$9,542$9,089$8,660$7,535
6 years$8,679$8,181$7,711$7,269$6,852$5,778
7 years$7,365$6,870$6,408$5,976$5,573$4,550
8 years$6,379$5,889$5,434$5,013$4,623$3,651
9 years$5,613$5,127$4,681$4,270$3,893$2,971
10 years$5,000$4,520$4,081$3,681$3,317$2,444
11 years$4,499$4,023$3,593$3,203$2,853$2,028
12 years$4,082$3,611$3,188$2,810$2,472$1,694
13 years$3,729$3,264$2,849$2,481$2,156$1,422
14 years$3,427$2,966$2,559$2,202$1,890$1,200
15 years$3,166$2,710$2,311$1,964$1,664$1,016
16 years$2,937$2,486$2,095$1,758$1,471$862
17 years$2,736$2,290$1,906$1,580$1,304$734
18 years$2,557$2,116$1,740$1,424$1,159$626
19 years$2,397$1,961$1,593$1,287$1,033$535
20 years$2,253$1,822$1,462$1,165$923$458
21 years$2,123$1,697$1,345$1,057$826$393
22 years$2,006$1,584$1,240$962$740$337
23 years$1,898$1,482$1,144$876$665$289
24 years$1,800$1,388$1,058$799$597$249
25 years$1,709$1,303$980$729$538$214
26 years$1,626$1,225$909$667$484$184
27 years$1,549$1,152$844$610$437$158
28 years$1,478$1,086$785$559$394$136
29 years$1,411$1,024$730$513$356$118
30 years$1,350$968$680$471$321$101
31 years$1,292$915$634$432$291$87
32 years$1,238$865$592$397$263$75
33 years$1,187$820$553$365$238$65
34 years$1,140$777$516$336$215$56
35 years$1,095$737$483$309$195$48
36 years$1,053$699$452$285$177$42
37 years$1,013$664$423$263$160$36
38 years$976$631$396$242$145$31
39 years$940$600$371$223$132$27
40 years$906$571$348$206$119$23
41 years$874$544$326$190$108$20
42 years$844$518$306$175$98$17
43 years$815$493$287$162$89$15
44 years$788$470$269$149$81$13
45 years$762$448$253$138$74$11
46 years$737$428$237$127$67$10
47 years$713$408$223$118$61$8
48 years$690$390$210$109$55$7
49 years$668$372$197$101$50$6
50 years$647$355$185$93$45$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $663,000, adding $4,571 every year, while hoping to spend $24,740 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: 56/15/29 Blend
61$663,000$663,000$663,000$663,000
62$735,341$700,202$689,925$770,402
63$784,023$708,189$686,715$803,041
64$836,841$715,738$682,567$835,642
65$894,191$722,801$677,426$870,668
66$956,508$729,328$671,230$908,361
67$1,024,272$735,266$663,916$948,989
68$1,098,009$740,555$655,418$992,849
69$1,178,299$745,135$645,668$1,040,268
70$1,265,780$748,941$634,592$1,091,607
71$1,361,154$751,904$622,115$1,147,267
72$1,465,193$753,948$608,158$1,207,689
73$1,578,748$754,997$592,636$1,273,361
74$1,702,755$754,967$575,464$1,344,820
75$1,838,244$753,768$556,550$1,422,662
76$1,986,350$751,308$535,800$1,507,545
77$2,148,322$747,487$513,114$1,600,192
78$2,325,536$742,198$488,387$1,701,406
79$2,519,504$735,329$461,512$1,812,070
80$2,731,896$726,762$432,375$1,933,161
81$2,964,546$716,371$400,857$2,065,757
82$3,219,478$704,021$366,834$2,211,048
83$3,498,918$689,572$330,176$2,370,346
84$3,805,319$672,872$290,748$2,545,102
85$4,141,383$653,764$248,410$2,736,916
86$4,510,085$632,079$203,012$2,947,552
87$4,914,702$607,640$154,401$3,178,960
88$5,358,845$580,257$102,417$3,433,290
89$5,846,490$549,732$46,891$3,712,914
90$6,382,017$515,855$0$4,020,449
91$6,970,253$478,401$0$4,362,611
92$7,616,512$437,137$0$4,754,492
93$8,326,652$391,812$0$5,185,142
94$9,107,124$342,164$0$5,658,501
95$9,965,035$287,915$0$6,178,909
96$10,908,216$228,770$0$6,751,154
97$11,945,294$164,419$0$7,380,510
98$13,085,773$94,536$0$8,072,790
99$14,340,127$18,773$0$8,834,402
100$15,719,892$0$0$9,672,407