Can I retire at age 62 with 666,000?

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 $666,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$54,998$54,508$54,030$53,563$53,108$51,782
2 years$27,227$26,719$26,228$25,752$25,289$23,962
3 years$17,971$17,461$16,971$16,499$16,045$14,757
4 years$13,344$12,836$12,351$11,887$11,443$10,206
5 years$10,568$10,064$9,585$9,130$8,699$7,515
6 years$8,719$8,218$7,746$7,302$6,883$5,753
7 years$7,398$6,901$6,437$6,003$5,598$4,523
8 years$6,408$5,916$5,459$5,036$4,644$3,623
9 years$5,638$5,151$4,702$4,289$3,911$2,943
10 years$5,023$4,540$4,099$3,697$3,332$2,417
11 years$4,520$4,042$3,609$3,218$2,866$2,001
12 years$4,101$3,628$3,203$2,823$2,483$1,668
13 years$3,746$3,278$2,861$2,492$2,166$1,398
14 years$3,443$2,980$2,571$2,212$1,898$1,177
15 years$3,180$2,722$2,321$1,973$1,672$994
16 years$2,951$2,498$2,105$1,766$1,477$842
17 years$2,748$2,300$1,915$1,587$1,310$716
18 years$2,569$2,125$1,748$1,430$1,165$609
19 years$2,408$1,970$1,600$1,292$1,038$519
20 years$2,264$1,830$1,469$1,170$927$443
21 years$2,133$1,705$1,351$1,062$830$379
22 years$2,015$1,592$1,245$966$744$325
23 years$1,907$1,489$1,150$880$668$278
24 years$1,808$1,395$1,063$802$600$238
25 years$1,717$1,309$985$733$540$205
26 years$1,633$1,230$913$670$486$176
27 years$1,556$1,158$848$613$439$151
28 years$1,484$1,091$788$562$396$130
29 years$1,418$1,029$734$515$357$111
30 years$1,356$972$683$473$323$96
31 years$1,298$919$637$434$292$82
32 years$1,244$869$594$399$264$71
33 years$1,193$823$555$367$239$61
34 years$1,145$780$519$338$216$52
35 years$1,100$740$485$311$196$45
36 years$1,058$702$454$286$178$39
37 years$1,018$667$425$264$161$33
38 years$980$634$398$243$146$29
39 years$944$603$372$224$132$25
40 years$911$574$349$207$120$21
41 years$878$546$327$191$109$18
42 years$848$520$307$176$99$16
43 years$819$495$288$163$90$14
44 years$791$472$270$150$81$12
45 years$765$450$254$139$74$10
46 years$740$430$239$128$67$9
47 years$716$410$224$118$61$7
48 years$693$391$211$109$55$6
49 years$671$374$198$101$50$6
50 years$650$357$186$93$46$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $666,000, adding $6,425 every year, while hoping to spend $29,857 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: 67/25/8 Blend
61$666,000$666,000$666,000$666,000
62$740,559$705,261$694,938$788,645
63$784,329$708,052$686,451$824,189
64$831,562$709,978$676,679$858,844
65$882,581$710,966$665,547$895,938
66$937,739$710,938$652,978$935,705
67$997,425$709,811$638,889$978,405
68$1,062,066$707,495$623,196$1,024,321
69$1,132,132$703,898$605,808$1,073,770
70$1,208,139$698,918$586,632$1,127,098
71$1,290,656$692,452$565,571$1,184,690
72$1,380,307$684,386$542,522$1,246,968
73$1,477,779$674,602$517,377$1,314,402
74$1,583,829$662,974$490,026$1,387,505
75$1,699,289$649,369$460,351$1,466,850
76$1,825,073$633,645$428,230$1,553,063
77$1,962,190$615,654$393,535$1,646,840
78$2,111,749$595,236$356,133$1,748,946
79$2,274,968$572,224$315,885$1,860,228
80$2,453,193$546,440$272,645$1,981,619
81$2,647,901$517,698$226,261$2,114,148
82$2,860,721$485,799$176,575$2,258,953
83$3,093,444$450,533$123,419$2,417,289
84$3,348,044$411,678$66,623$2,590,539
85$3,626,694$369,000$6,005$2,780,234
86$3,931,787$322,251$0$2,988,057
87$4,265,957$271,169$0$3,220,880
88$4,632,106$215,477$0$3,476,618
89$5,033,429$154,884$0$3,757,042
90$5,473,446$89,080$0$4,064,668
91$5,956,032$17,741$0$4,402,274
92$6,485,458$0$0$4,772,921
93$7,066,425$0$0$5,196,348
94$7,704,114$0$0$5,666,515
95$8,404,230$0$0$6,182,754
96$9,173,058$0$0$6,749,704
97$10,017,522$0$0$7,372,477
98$10,945,249$0$0$8,056,703
99$11,964,640$0$0$8,808,585
100$13,084,954$0$0$9,634,958