Can I retire at age 62 with 664,000?

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 $664,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$54,832$54,344$53,868$53,402$52,948$51,605
2 years$27,145$26,639$26,149$25,674$25,213$23,869
3 years$17,917$17,409$16,920$16,450$15,996$14,693
4 years$13,304$12,797$12,314$11,851$11,409$10,156
5 years$10,537$10,033$9,556$9,103$8,673$7,474
6 years$8,692$8,193$7,723$7,280$6,862$5,719
7 years$7,376$6,880$6,418$5,985$5,581$4,493
8 years$6,389$5,898$5,443$5,021$4,630$3,597
9 years$5,621$5,135$4,688$4,276$3,899$2,921
10 years$5,008$4,526$4,087$3,686$3,322$2,397
11 years$4,506$4,030$3,598$3,208$2,857$1,983
12 years$4,088$3,617$3,193$2,814$2,476$1,652
13 years$3,735$3,268$2,853$2,484$2,159$1,384
14 years$3,433$2,971$2,563$2,205$1,893$1,164
15 years$3,171$2,714$2,314$1,967$1,666$983
16 years$2,942$2,490$2,098$1,761$1,473$832
17 years$2,740$2,293$1,909$1,582$1,306$706
18 years$2,561$2,119$1,743$1,426$1,161$601
19 years$2,401$1,964$1,596$1,288$1,035$512
20 years$2,257$1,825$1,464$1,167$924$437
21 years$2,127$1,700$1,347$1,059$827$373
22 years$2,009$1,587$1,241$963$742$319
23 years$1,901$1,484$1,146$877$666$273
24 years$1,802$1,390$1,060$800$598$234
25 years$1,712$1,305$982$730$538$201
26 years$1,628$1,226$911$668$485$172
27 years$1,551$1,154$846$611$437$148
28 years$1,480$1,088$786$560$395$127
29 years$1,413$1,026$732$514$356$109
30 years$1,352$969$681$471$322$94
31 years$1,294$916$635$433$291$80
32 years$1,240$867$593$398$263$69
33 years$1,189$821$553$366$238$59
34 years$1,142$778$517$337$216$51
35 years$1,097$738$483$310$195$44
36 years$1,055$700$452$285$177$38
37 years$1,015$665$423$263$160$32
38 years$977$632$396$242$145$28
39 years$942$601$371$223$132$24
40 years$908$572$348$206$120$21
41 years$876$544$326$190$109$18
42 years$845$518$306$176$98$15
43 years$816$494$287$162$89$13
44 years$789$471$270$150$81$11
45 years$763$449$253$138$74$10
46 years$738$428$238$128$67$8
47 years$714$409$223$118$61$7
48 years$691$390$210$109$55$6
49 years$669$373$197$101$50$5
50 years$648$356$186$93$45$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $664,000, adding $4,744 every year, while hoping to spend $40,425 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: 43/28/29 Blend
61$664,000$664,000$664,000$664,000
62$736,621$701,429$691,137$761,894
63$768,745$692,788$671,279$771,850
64$802,790$682,367$649,400$778,456
65$838,910$670,039$625,390$784,849
66$877,273$655,665$599,135$791,033
67$918,062$639,100$570,513$797,018
68$961,478$620,189$539,399$802,814
69$1,007,740$598,769$505,660$808,439
70$1,057,089$574,668$469,158$813,914
71$1,109,788$547,703$429,751$819,268
72$1,166,125$517,680$387,287$824,535
73$1,226,418$484,394$341,609$829,759
74$1,291,014$447,630$292,554$834,992
75$1,360,292$407,159$239,950$840,295
76$1,434,671$362,739$183,617$845,742
77$1,514,609$314,115$123,370$851,419
78$1,600,609$261,017$59,013$857,427
79$1,693,224$203,159$0$863,883
80$1,793,060$140,241$0$873,914
81$1,900,784$71,945$0$904,366
82$2,017,128$0$0$937,208
83$2,142,896$0$0$973,353
84$2,278,974$0$0$1,036,509
85$2,426,333$0$0$1,104,969
86$2,586,042$0$0$1,179,239
87$2,759,276$0$0$1,259,873
88$2,947,328$0$0$1,347,483
89$3,151,620$0$0$1,442,740
90$3,373,714$0$0$1,546,385
91$3,615,333$0$0$1,659,232
92$3,878,367$0$0$1,782,174
93$4,164,900$0$0$1,916,199
94$4,477,225$0$0$2,062,389
95$4,817,863$0$0$2,221,940
96$5,189,591$0$0$2,396,163
97$5,595,464$0$0$2,586,507
98$6,038,848$0$0$2,794,563
99$6,523,445$0$0$3,022,083
100$7,053,333$0$0$3,270,999