Can I retire at age 62 with 669,000?

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 $669,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$55,245$54,753$54,273$53,805$53,347$52,856
2 years$27,349$26,840$26,346$25,868$25,403$24,909
3 years$18,052$17,540$17,048$16,574$16,117$15,634
4 years$13,404$12,894$12,406$11,940$11,495$11,027
5 years$10,616$10,109$9,628$9,171$8,738$8,287
6 years$8,758$8,255$7,781$7,334$6,914$6,480
7 years$7,431$6,932$6,466$6,030$5,623$5,207
8 years$6,437$5,942$5,484$5,058$4,665$4,266
9 years$5,664$5,174$4,723$4,309$3,929$3,547
10 years$5,045$4,560$4,118$3,714$3,347$2,983
11 years$4,540$4,060$3,625$3,232$2,879$2,531
12 years$4,119$3,644$3,217$2,835$2,495$2,164
13 years$3,763$3,293$2,874$2,503$2,175$1,861
14 years$3,458$2,993$2,583$2,222$1,907$1,608
15 years$3,195$2,734$2,332$1,982$1,679$1,395
16 years$2,964$2,509$2,114$1,774$1,484$1,215
17 years$2,761$2,311$1,924$1,594$1,316$1,061
18 years$2,580$2,135$1,756$1,437$1,170$929
19 years$2,419$1,979$1,608$1,298$1,043$815
20 years$2,274$1,839$1,475$1,176$931$717
21 years$2,143$1,713$1,357$1,067$834$631
22 years$2,024$1,599$1,251$970$747$557
23 years$1,915$1,495$1,155$884$671$491
24 years$1,816$1,401$1,068$806$603$434
25 years$1,725$1,315$989$736$542$384
26 years$1,641$1,236$917$673$489$340
27 years$1,563$1,163$852$616$441$302
28 years$1,491$1,096$792$564$397$267
29 years$1,424$1,034$737$518$359$237
30 years$1,362$976$686$475$324$211
31 years$1,304$923$640$436$293$187
32 years$1,249$873$597$401$265$166
33 years$1,198$827$558$369$240$148
34 years$1,150$784$521$339$217$131
35 years$1,105$743$487$312$197$117
36 years$1,063$706$456$288$178$104
37 years$1,022$670$426$265$162$92
38 years$985$637$399$244$147$82
39 years$949$606$374$225$133$73
40 years$915$576$351$208$121$65
41 years$882$548$329$192$109$58
42 years$852$522$308$177$99$52
43 years$823$498$289$163$90$46
44 years$795$474$272$151$82$41
45 years$768$452$255$139$74$36
46 years$743$432$240$129$67$33
47 years$719$412$225$119$61$29
48 years$696$393$212$110$56$26
49 years$674$375$199$101$50$23
50 years$653$359$187$94$46$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $669,000, adding $3,139 every year, while hoping to spend $25,101 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: 49/37/14 Blend
61$669,000$669,000$669,000$669,000
62$740,476$705,019$694,649$773,754
63$789,297$712,858$691,213$804,842
64$842,257$720,239$686,820$835,730
65$899,751$727,114$681,412$868,725
66$962,214$733,432$674,928$904,032
67$1,030,125$739,135$667,303$941,881
68$1,104,011$744,165$658,471$982,521
69$1,184,450$748,460$648,360$1,026,232
70$1,272,081$751,952$636,897$1,073,322
71$1,367,605$754,569$624,005$1,124,130
72$1,471,795$756,237$609,603$1,179,032
73$1,585,499$756,874$593,606$1,238,443
74$1,709,655$756,395$575,926$1,302,824
75$1,845,290$754,709$556,471$1,372,682
76$1,993,540$751,720$535,143$1,448,577
77$2,155,653$747,326$511,842$1,531,129
78$2,333,002$741,418$486,461$1,621,023
79$2,527,101$733,880$458,891$1,719,016
80$2,739,617$724,592$429,015$1,825,942
81$2,972,384$713,423$396,713$1,942,727
82$3,227,423$700,236$361,858$2,070,389
83$3,506,959$684,887$324,320$2,210,054
84$3,813,444$667,221$283,959$2,362,967
85$4,149,576$647,076$240,633$2,530,502
86$4,518,330$624,280$194,191$2,714,175
87$4,922,979$598,649$144,476$2,915,661
88$5,367,132$569,992$91,325$3,136,811
89$5,854,762$538,104$34,567$3,379,665
90$6,390,246$502,769$0$3,646,478
91$6,978,406$463,760$0$3,943,623
92$7,624,553$420,833$0$4,275,724
93$8,334,539$373,736$0$4,640,674
94$9,114,810$322,198$0$5,041,848
95$9,972,469$265,933$0$5,482,971
96$10,915,339$204,643$0$5,968,150
97$11,952,041$138,008$0$6,501,917
98$13,092,072$65,693$0$7,089,269
99$14,345,895$0$0$7,735,720
100$15,725,038$0$0$8,452,501