Can I retire at age 62 with 674,000?

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 $674,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$55,658$55,163$54,679$54,207$53,746$53,096
2 years$27,554$27,040$26,543$26,061$25,593$24,939
3 years$18,187$17,671$17,175$16,697$16,237$15,600
4 years$13,504$12,990$12,499$12,030$11,581$10,964
5 years$10,695$10,184$9,700$9,240$8,803$8,210
6 years$8,823$8,316$7,839$7,389$6,966$6,396
7 years$7,487$6,984$6,514$6,075$5,665$5,119
8 years$6,485$5,987$5,525$5,096$4,700$4,177
9 years$5,706$5,212$4,758$4,341$3,958$3,459
10 years$5,083$4,595$4,148$3,742$3,372$2,897
11 years$4,574$4,090$3,652$3,257$2,900$2,447
12 years$4,150$3,671$3,241$2,856$2,513$2,083
13 years$3,791$3,318$2,896$2,522$2,192$1,783
14 years$3,484$3,016$2,602$2,239$1,921$1,533
15 years$3,218$2,755$2,349$1,996$1,692$1,324
16 years$2,986$2,528$2,130$1,788$1,495$1,148
17 years$2,781$2,328$1,938$1,606$1,326$997
18 years$2,599$2,151$1,769$1,447$1,179$869
19 years$2,437$1,993$1,620$1,308$1,051$759
20 years$2,291$1,852$1,486$1,185$938$664
21 years$2,159$1,725$1,367$1,075$840$581
22 years$2,039$1,611$1,260$977$753$510
23 years$1,930$1,506$1,163$890$676$448
24 years$1,830$1,411$1,076$812$607$394
25 years$1,738$1,325$997$741$546$347
26 years$1,653$1,245$924$678$492$305
27 years$1,575$1,172$858$621$444$269
28 years$1,502$1,104$798$569$400$237
29 years$1,435$1,041$743$521$362$209
30 years$1,372$984$692$479$327$185
31 years$1,313$930$645$439$295$163
32 years$1,258$880$602$404$267$144
33 years$1,207$833$562$371$242$127
34 years$1,159$790$525$342$219$112
35 years$1,113$749$491$315$198$99
36 years$1,070$711$459$290$180$88
37 years$1,030$675$430$267$163$78
38 years$992$642$402$246$148$69
39 years$956$610$377$227$134$61
40 years$921$581$353$209$121$54
41 years$889$553$331$193$110$48
42 years$858$526$311$178$100$42
43 years$829$501$292$164$91$37
44 years$801$478$274$152$82$33
45 years$774$456$257$140$75$29
46 years$749$435$241$130$68$26
47 years$725$415$227$120$62$23
48 years$701$396$213$111$56$20
49 years$679$378$200$102$51$18
50 years$658$361$188$94$46$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $674,000, adding $3,921 every year, while hoping to spend $22,419 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: 69/5/26 Blend
61$674,000$674,000$674,000$674,000
62$746,793$711,071$700,624$793,076
63$799,112$722,059$700,241$835,607
64$856,016$732,835$699,094$879,194
65$917,950$743,364$697,133$926,376
66$985,401$753,609$694,308$977,508
67$1,058,908$763,532$690,563$1,032,982
68$1,139,061$773,090$685,842$1,093,232
69$1,226,513$782,239$680,085$1,158,733
70$1,321,980$790,932$673,231$1,230,012
71$1,426,251$799,116$665,213$1,307,649
72$1,540,195$806,739$655,964$1,392,282
73$1,664,768$813,742$645,411$1,484,618
74$1,801,022$820,064$633,481$1,585,432
75$1,950,118$825,638$620,094$1,695,583
76$2,113,331$830,396$605,168$1,816,014
77$2,292,067$834,261$588,618$1,947,769
78$2,487,875$837,157$570,353$2,091,996
79$2,702,458$838,998$550,280$2,249,961
80$2,937,695$839,695$528,300$2,423,061
81$3,195,653$839,153$504,311$2,612,837
82$3,478,609$837,271$478,206$2,820,985
83$3,789,073$833,943$449,871$3,049,377
84$4,129,806$829,054$419,190$3,300,077
85$4,503,853$822,485$386,040$3,575,360
86$4,914,567$814,107$350,292$3,877,735
87$5,365,640$803,785$311,814$4,209,966
88$5,861,140$791,376$270,465$4,575,102
89$6,405,550$776,727$226,100$4,976,503
90$7,003,807$759,677$178,565$5,417,876
91$7,661,350$740,056$127,701$5,903,303
92$8,384,172$717,683$73,344$6,437,289
93$9,178,875$692,367$15,318$7,024,796
94$10,052,733$663,905$0$7,671,295
95$11,013,758$632,083$0$8,395,749
96$12,070,781$596,675$0$9,197,252
97$13,233,530$557,441$0$10,078,933
98$14,512,721$514,127$0$11,048,930
99$15,920,166$466,467$0$12,116,206
100$17,468,875$414,176$0$13,290,641