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%12.4%
1 years$55,658$55,163$54,679$54,207$53,746$53,207
2 years$27,554$27,040$26,543$26,061$25,593$25,050
3 years$18,187$17,671$17,175$16,697$16,237$15,707
4 years$13,504$12,990$12,499$12,030$11,581$11,068
5 years$10,695$10,184$9,700$9,240$8,803$8,309
6 years$8,823$8,316$7,839$7,389$6,966$6,491
7 years$7,487$6,984$6,514$6,075$5,665$5,209
8 years$6,485$5,987$5,525$5,096$4,700$4,263
9 years$5,706$5,212$4,758$4,341$3,958$3,540
10 years$5,083$4,595$4,148$3,742$3,372$2,974
11 years$4,574$4,090$3,652$3,257$2,900$2,520
12 years$4,150$3,671$3,241$2,856$2,513$2,152
13 years$3,791$3,318$2,896$2,522$2,192$1,848
14 years$3,484$3,016$2,602$2,239$1,921$1,595
15 years$3,218$2,755$2,349$1,996$1,692$1,382
16 years$2,986$2,528$2,130$1,788$1,495$1,202
17 years$2,781$2,328$1,938$1,606$1,326$1,048
18 years$2,599$2,151$1,769$1,447$1,179$916
19 years$2,437$1,993$1,620$1,308$1,051$803
20 years$2,291$1,852$1,486$1,185$938$705
21 years$2,159$1,725$1,367$1,075$840$620
22 years$2,039$1,611$1,260$977$753$546
23 years$1,930$1,506$1,163$890$676$481
24 years$1,830$1,411$1,076$812$607$425
25 years$1,738$1,325$997$741$546$375
26 years$1,653$1,245$924$678$492$332
27 years$1,575$1,172$858$621$444$293
28 years$1,502$1,104$798$569$400$260
29 years$1,435$1,041$743$521$362$230
30 years$1,372$984$692$479$327$204
31 years$1,313$930$645$439$295$181
32 years$1,258$880$602$404$267$160
33 years$1,207$833$562$371$242$142
34 years$1,159$790$525$342$219$126
35 years$1,113$749$491$315$198$112
36 years$1,070$711$459$290$180$100
37 years$1,030$675$430$267$163$88
38 years$992$642$402$246$148$79
39 years$956$610$377$227$134$70
40 years$921$581$353$209$121$62
41 years$889$553$331$193$110$55
42 years$858$526$311$178$100$49
43 years$829$501$292$164$91$44
44 years$801$478$274$152$82$39
45 years$774$456$257$140$75$34
46 years$749$435$241$130$68$31
47 years$725$415$227$120$62$27
48 years$701$396$213$111$56$24
49 years$679$378$200$102$51$22
50 years$658$361$188$94$46$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $674,000, adding $2,822 every year, while hoping to spend $53,841 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: 72/8/20 Blend
61$674,000$674,000$674,000$674,000
62$745,659$709,937$699,490$795,553
63$764,430$687,437$665,636$806,621
64$783,311$662,031$628,844$812,017
65$802,256$633,518$588,958$816,568
66$821,214$601,688$545,816$820,183
67$840,125$566,318$499,248$822,760
68$858,922$527,172$449,077$824,191
69$877,529$484,001$395,119$824,355
70$895,861$436,540$337,179$823,124
71$913,820$384,512$275,056$820,355
72$931,298$327,622$208,539$815,894
73$948,174$265,559$137,408$809,574
74$964,311$197,994$61,434$801,210
75$979,555$124,580$0$790,603
76$993,736$44,951$0$781,727
77$1,006,662$0$0$784,416
78$1,018,122$0$0$788,976
79$1,027,877$0$0$796,123
80$1,035,663$0$0$801,688
81$1,041,186$0$0$805,439
82$1,044,118$0$0$807,114
83$1,044,097$0$0$806,426
84$1,040,719$0$0$803,052
85$1,033,534$0$0$796,636
86$1,022,047$0$0$786,784
87$1,005,705$0$0$773,057
88$983,898$0$0$754,970
89$955,948$0$0$731,984
90$921,106$0$0$703,504
91$878,540$0$0$668,870
92$827,333$0$0$627,352
93$766,467$0$0$578,142
94$694,817$0$0$520,347
95$611,139$0$0$452,978
96$514,057$0$0$374,944
97$402,052$0$0$285,037
98$273,442$0$0$181,923
99$126,371$0$0$64,128
100$0$0$0$0