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%13.8%
1 years$55,245$54,753$54,273$53,805$53,347$52,506
2 years$27,349$26,840$26,346$25,868$25,403$24,559
3 years$18,052$17,540$17,048$16,574$16,117$15,294
4 years$13,404$12,894$12,406$11,940$11,495$10,701
5 years$10,616$10,109$9,628$9,171$8,738$7,975
6 years$8,758$8,255$7,781$7,334$6,914$6,183
7 years$7,431$6,932$6,466$6,030$5,623$4,923
8 years$6,437$5,942$5,484$5,058$4,665$3,997
9 years$5,664$5,174$4,723$4,309$3,929$3,292
10 years$5,045$4,560$4,118$3,714$3,347$2,742
11 years$4,540$4,060$3,625$3,232$2,879$2,304
12 years$4,119$3,644$3,217$2,835$2,495$1,949
13 years$3,763$3,293$2,874$2,503$2,175$1,659
14 years$3,458$2,993$2,583$2,222$1,907$1,418
15 years$3,195$2,734$2,332$1,982$1,679$1,217
16 years$2,964$2,509$2,114$1,774$1,484$1,048
17 years$2,761$2,311$1,924$1,594$1,316$905
18 years$2,580$2,135$1,756$1,437$1,170$784
19 years$2,419$1,979$1,608$1,298$1,043$680
20 years$2,274$1,839$1,475$1,176$931$591
21 years$2,143$1,713$1,357$1,067$834$514
22 years$2,024$1,599$1,251$970$747$448
23 years$1,915$1,495$1,155$884$671$390
24 years$1,816$1,401$1,068$806$603$341
25 years$1,725$1,315$989$736$542$298
26 years$1,641$1,236$917$673$489$260
27 years$1,563$1,163$852$616$441$228
28 years$1,491$1,096$792$564$397$199
29 years$1,424$1,034$737$518$359$175
30 years$1,362$976$686$475$324$153
31 years$1,304$923$640$436$293$134
32 years$1,249$873$597$401$265$118
33 years$1,198$827$558$369$240$103
34 years$1,150$784$521$339$217$90
35 years$1,105$743$487$312$197$79
36 years$1,063$706$456$288$178$70
37 years$1,022$670$426$265$162$61
38 years$985$637$399$244$147$54
39 years$949$606$374$225$133$47
40 years$915$576$351$208$121$41
41 years$882$548$329$192$109$36
42 years$852$522$308$177$99$32
43 years$823$498$289$163$90$28
44 years$795$474$272$151$82$25
45 years$768$452$255$139$74$22
46 years$743$432$240$129$67$19
47 years$719$412$225$119$61$17
48 years$696$393$212$110$56$15
49 years$674$375$199$101$50$13
50 years$653$359$187$94$46$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $669,000, adding $6,206 every year, while hoping to spend $37,357 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: 69/21/10 Blend
61$669,000$669,000$669,000$669,000
62$743,639$708,182$697,813$793,035
63$779,743$703,136$681,442$821,562
64$818,277$696,590$663,271$847,647
65$859,451$688,432$643,199$875,192
66$903,491$678,542$621,123$904,331
67$950,650$666,793$596,933$935,217
68$1,001,201$653,051$570,516$968,017
69$1,055,447$637,173$541,751$1,002,916
70$1,113,718$619,010$510,515$1,040,121
71$1,176,376$598,401$476,677$1,079,859
72$1,243,821$575,177$440,100$1,122,382
73$1,316,491$549,160$400,643$1,167,968
74$1,394,865$520,161$358,157$1,216,927
75$1,479,472$487,981$312,486$1,269,599
76$1,570,893$452,406$263,469$1,326,364
77$1,669,765$413,215$210,936$1,387,639
78$1,776,789$370,170$154,710$1,453,887
79$1,892,736$323,023$94,607$1,525,620
80$2,018,453$271,509$30,435$1,603,405
81$2,154,871$215,349$0$1,687,869
82$2,303,017$154,250$0$1,783,763
83$2,464,016$87,900$0$1,891,523
84$2,639,109$15,970$0$2,008,770
85$2,829,660$0$0$2,136,464
86$3,037,170$0$0$2,289,966
87$3,263,290$0$0$2,461,292
88$3,509,840$0$0$2,648,131
89$3,778,819$0$0$2,852,006
90$4,072,430$0$0$3,074,590
91$4,393,096$0$0$3,317,725
92$4,743,486$0$0$3,583,440
93$5,126,539$0$0$3,873,968
94$5,545,488$0$0$4,191,768
95$6,003,895$0$0$4,539,547
96$6,505,683$0$0$4,920,287
97$7,055,168$0$0$5,337,269
98$7,657,107$0$0$5,794,110
99$8,316,736$0$0$6,294,791
100$9,039,823$0$0$6,843,696