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%15.7%
1 years$55,245$54,753$54,273$53,805$53,347$52,100
2 years$27,349$26,840$26,346$25,868$25,403$24,154
3 years$18,052$17,540$17,048$16,574$16,117$14,904
4 years$13,404$12,894$12,406$11,940$11,495$10,328
5 years$10,616$10,109$9,628$9,171$8,738$7,621
6 years$8,758$8,255$7,781$7,334$6,914$5,847
7 years$7,431$6,932$6,466$6,030$5,623$4,607
8 years$6,437$5,942$5,484$5,058$4,665$3,699
9 years$5,664$5,174$4,723$4,309$3,929$3,012
10 years$5,045$4,560$4,118$3,714$3,347$2,480
11 years$4,540$4,060$3,625$3,232$2,879$2,059
12 years$4,119$3,644$3,217$2,835$2,495$1,720
13 years$3,763$3,293$2,874$2,503$2,175$1,446
14 years$3,458$2,993$2,583$2,222$1,907$1,220
15 years$3,195$2,734$2,332$1,982$1,679$1,034
16 years$2,964$2,509$2,114$1,774$1,484$878
17 years$2,761$2,311$1,924$1,594$1,316$748
18 years$2,580$2,135$1,756$1,437$1,170$639
19 years$2,419$1,979$1,608$1,298$1,043$546
20 years$2,274$1,839$1,475$1,176$931$468
21 years$2,143$1,713$1,357$1,067$834$401
22 years$2,024$1,599$1,251$970$747$345
23 years$1,915$1,495$1,155$884$671$296
24 years$1,816$1,401$1,068$806$603$255
25 years$1,725$1,315$989$736$542$219
26 years$1,641$1,236$917$673$489$189
27 years$1,563$1,163$852$616$441$163
28 years$1,491$1,096$792$564$397$140
29 years$1,424$1,034$737$518$359$121
30 years$1,362$976$686$475$324$104
31 years$1,304$923$640$436$293$90
32 years$1,249$873$597$401$265$78
33 years$1,198$827$558$369$240$67
34 years$1,150$784$521$339$217$58
35 years$1,105$743$487$312$197$50
36 years$1,063$706$456$288$178$43
37 years$1,022$670$426$265$162$37
38 years$985$637$399$244$147$32
39 years$949$606$374$225$133$28
40 years$915$576$351$208$121$24
41 years$882$548$329$192$109$21
42 years$852$522$308$177$99$18
43 years$823$498$289$163$90$15
44 years$795$474$272$151$82$13
45 years$768$452$255$139$74$12
46 years$743$432$240$129$67$10
47 years$719$412$225$119$61$9
48 years$696$393$212$110$56$7
49 years$674$375$199$101$50$6
50 years$653$359$187$94$46$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $669,000, adding $2,651 every year, while hoping to spend $26,909 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: 66/16/18 Blend
61$669,000$669,000$669,000$669,000
62$739,973$704,516$694,146$785,353
63$786,819$710,406$688,769$821,960
64$837,541$715,683$682,310$858,609
65$892,507$720,288$674,704$898,020
66$952,121$724,160$665,884$940,465
67$1,016,824$727,231$655,779$986,241
68$1,087,107$729,432$644,314$1,035,679
69$1,163,505$730,687$631,411$1,089,140
70$1,246,610$730,918$616,991$1,147,028
71$1,337,070$730,039$600,966$1,209,785
72$1,435,602$727,962$583,249$1,277,898
73$1,542,992$724,590$563,746$1,351,907
74$1,660,105$719,824$542,361$1,432,408
75$1,787,896$713,555$518,990$1,520,056
76$1,927,413$705,671$493,527$1,615,575
77$2,079,811$696,050$465,862$1,719,766
78$2,246,361$684,566$435,878$1,833,509
79$2,428,463$671,083$403,453$1,957,777
80$2,627,658$655,458$368,461$2,093,644
81$2,845,644$637,540$330,768$2,242,294
82$3,084,287$617,167$290,237$2,405,032
83$3,345,647$594,171$246,722$2,583,301
84$3,631,988$568,370$200,072$2,778,691
85$3,945,806$539,575$150,130$2,992,954
86$4,289,849$507,586$96,731$3,228,025
87$4,667,144$472,188$39,702$3,486,038
88$5,081,025$433,157$0$3,769,347
89$5,535,163$390,255$0$4,084,612
90$6,033,603$343,232$0$4,439,034
91$6,580,801$291,820$0$4,828,174
92$7,181,664$235,740$0$5,255,556
93$7,841,597$174,696$0$5,725,061
94$8,566,558$108,373$0$6,240,967
95$9,363,105$36,441$0$6,807,992
96$10,238,467$0$0$7,431,332
97$11,200,606$0$0$8,124,015
98$12,258,294$0$0$8,892,587
99$13,421,197$0$0$9,737,661
100$14,699,961$0$0$10,666,980