Can I retire at age 62 with 670,000?

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 $670,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$55,328$54,835$54,354$53,885$53,427$51,613
2 years$27,390$26,880$26,386$25,906$25,441$23,632
3 years$18,079$17,566$17,073$16,598$16,141$14,394
4 years$13,424$12,913$12,425$11,958$11,512$9,839
5 years$10,632$10,124$9,642$9,185$8,751$7,158
6 years$8,771$8,267$7,792$7,345$6,924$5,412
7 years$7,442$6,943$6,476$6,039$5,631$4,199
8 years$6,446$5,951$5,492$5,066$4,672$3,318
9 years$5,672$5,182$4,730$4,315$3,934$2,658
10 years$5,053$4,567$4,124$3,720$3,352$2,152
11 years$4,547$4,066$3,630$3,237$2,883$1,755
12 years$4,125$3,649$3,222$2,839$2,498$1,441
13 years$3,769$3,298$2,879$2,507$2,179$1,189
14 years$3,464$2,998$2,586$2,225$1,910$985
15 years$3,199$2,739$2,335$1,985$1,682$819
16 years$2,968$2,513$2,117$1,777$1,486$682
17 years$2,765$2,314$1,927$1,597$1,318$570
18 years$2,584$2,138$1,759$1,439$1,172$477
19 years$2,422$1,982$1,610$1,300$1,044$400
20 years$2,277$1,841$1,478$1,178$933$335
21 years$2,146$1,715$1,359$1,069$835$282
22 years$2,027$1,601$1,253$972$748$237
23 years$1,918$1,497$1,157$885$672$199
24 years$1,819$1,403$1,070$807$604$168
25 years$1,727$1,317$991$737$543$141
26 years$1,643$1,237$919$674$489$119
27 years$1,565$1,165$853$617$441$100
28 years$1,493$1,097$793$565$398$85
29 years$1,426$1,035$738$518$359$71
30 years$1,364$978$688$476$325$60
31 years$1,306$924$641$437$294$51
32 years$1,251$875$598$401$266$43
33 years$1,200$828$558$369$240$36
34 years$1,152$785$522$340$218$31
35 years$1,107$745$488$313$197$26
36 years$1,064$707$456$288$179$22
37 years$1,024$671$427$265$162$18
38 years$986$638$400$245$147$16
39 years$950$607$375$226$133$13
40 years$916$577$351$208$121$11
41 years$884$549$329$192$110$9
42 years$853$523$309$177$99$8
43 years$824$498$290$163$90$7
44 years$796$475$272$151$82$6
45 years$770$453$255$139$74$5
46 years$744$432$240$129$67$4
47 years$720$412$225$119$61$3
48 years$697$394$212$110$56$3
49 years$675$376$199$102$51$2
50 years$654$359$187$94$46$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $670,000, adding $5,191 every year, while hoping to spend $21,124 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: 73/20/7 Blend
61$670,000$670,000$670,000$670,000
62$743,695$708,185$697,800$796,868
63$797,076$720,410$698,700$844,851
64$855,194$732,526$698,923$894,224
65$918,509$744,506$698,423$947,700
66$987,530$756,319$697,152$1,005,676
67$1,062,814$767,935$695,063$1,068,592
68$1,144,975$779,318$692,101$1,136,930
69$1,234,689$790,431$688,214$1,211,224
70$1,332,702$801,237$683,344$1,292,060
71$1,439,833$811,693$677,431$1,380,085
72$1,556,984$821,753$670,412$1,476,009
73$1,685,148$831,371$662,223$1,580,618
74$1,825,419$840,494$652,794$1,694,776
75$1,979,002$849,069$642,053$1,819,436
76$2,147,223$857,037$629,925$1,955,647
77$2,331,544$864,335$616,331$2,104,564
78$2,533,572$870,898$601,189$2,267,464
79$2,755,080$876,655$584,412$2,445,750
80$2,998,018$881,532$565,910$2,640,970
81$3,264,537$885,448$545,589$2,854,829
82$3,557,003$888,319$523,350$3,089,207
83$3,878,025$890,054$499,089$3,346,176
84$4,230,475$890,557$472,700$3,628,018
85$4,617,516$889,728$444,068$3,937,249
86$5,042,635$887,457$413,077$4,276,643
87$5,509,671$883,629$379,602$4,649,256
88$6,022,855$878,124$343,516$5,058,455
89$6,586,846$870,812$304,684$5,507,953
90$7,206,778$861,556$262,965$6,001,841
91$7,888,308$850,211$218,213$6,544,628
92$8,637,667$836,623$170,274$7,141,284
93$9,461,720$820,628$118,989$7,797,287
94$10,368,031$802,054$64,191$8,518,672
95$11,364,934$780,719$5,706$9,312,094
96$12,461,612$756,429$0$10,184,885
97$13,668,180$728,977$0$11,149,364
98$14,995,786$698,149$0$12,210,931
99$16,456,711$663,713$0$13,378,992
100$18,064,489$625,428$0$14,664,383