Can I retire at age 62 with 675,000?

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 $675,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$55,741$55,244$54,760$54,287$53,825$53,021
2 years$27,594$27,081$26,582$26,100$25,631$24,823
3 years$18,214$17,697$17,201$16,722$16,261$15,474
4 years$13,524$13,009$12,518$12,047$11,598$10,837
5 years$10,711$10,200$9,714$9,254$8,816$8,085
6 years$8,836$8,329$7,851$7,400$6,976$6,275
7 years$7,498$6,994$6,524$6,084$5,673$5,003
8 years$6,494$5,996$5,533$5,104$4,707$4,066
9 years$5,714$5,220$4,765$4,347$3,964$3,353
10 years$5,091$4,601$4,155$3,747$3,377$2,796
11 years$4,581$4,096$3,658$3,261$2,905$2,352
12 years$4,156$3,677$3,246$2,861$2,517$1,993
13 years$3,797$3,323$2,900$2,526$2,195$1,698
14 years$3,489$3,020$2,606$2,242$1,924$1,454
15 years$3,223$2,759$2,353$1,999$1,694$1,249
16 years$2,991$2,531$2,133$1,790$1,497$1,077
17 years$2,785$2,331$1,941$1,608$1,328$932
18 years$2,603$2,154$1,772$1,450$1,180$808
19 years$2,440$1,996$1,622$1,310$1,052$702
20 years$2,294$1,855$1,489$1,186$940$611
21 years$2,162$1,728$1,369$1,077$841$532
22 years$2,042$1,613$1,262$979$754$464
23 years$1,932$1,509$1,165$892$677$406
24 years$1,832$1,414$1,078$813$608$355
25 years$1,740$1,327$998$743$547$310
26 years$1,655$1,247$926$679$493$272
27 years$1,577$1,173$860$621$444$238
28 years$1,504$1,106$799$569$401$209
29 years$1,437$1,043$744$522$362$183
30 years$1,374$985$693$479$327$161
31 years$1,315$931$646$440$296$141
32 years$1,260$881$602$404$268$124
33 years$1,209$834$563$372$242$109
34 years$1,160$791$526$342$219$96
35 years$1,115$750$491$315$199$84
36 years$1,072$712$460$290$180$74
37 years$1,032$676$430$267$163$65
38 years$993$643$403$246$148$57
39 years$957$611$378$227$134$50
40 years$923$581$354$210$122$44
41 years$890$553$332$193$110$39
42 years$859$527$311$178$100$34
43 years$830$502$292$165$91$30
44 years$802$479$274$152$82$26
45 years$775$456$257$140$75$23
46 years$750$435$242$130$68$21
47 years$726$416$227$120$62$18
48 years$702$397$213$111$56$16
49 years$680$379$201$102$51$14
50 years$659$362$189$95$46$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $675,000, adding $2,990 every year, while hoping to spend $27,310 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: 27/47/26 Blend
61$675,000$675,000$675,000$675,000
62$746,934$711,159$700,697$760,967
63$794,064$716,948$695,112$778,249
64$845,085$722,106$688,426$794,230
65$900,367$726,572$680,571$810,826
66$960,313$730,283$671,479$828,107
67$1,025,370$733,171$661,078$846,152
68$1,096,026$735,165$649,292$865,053
69$1,172,820$736,187$636,043$884,909
70$1,256,344$736,158$621,247$905,836
71$1,347,251$734,989$604,819$927,961
72$1,446,257$732,590$586,667$951,429
73$1,554,152$728,863$566,697$976,400
74$1,671,804$723,706$544,809$1,003,056
75$1,800,169$717,009$520,901$1,031,600
76$1,940,299$708,655$494,865$1,062,258
77$2,093,353$698,522$466,586$1,095,284
78$2,260,605$686,480$435,946$1,130,962
79$2,443,459$672,390$402,823$1,169,607
80$2,643,461$656,106$367,087$1,211,574
81$2,862,313$637,474$328,603$1,257,255
82$3,101,887$616,329$287,230$1,307,091
83$3,364,249$592,498$242,821$1,361,569
84$3,651,669$565,797$195,222$1,421,234
85$3,966,650$536,032$144,273$1,486,692
86$4,311,949$502,998$89,806$1,558,617
87$4,690,600$466,477$31,647$1,637,758
88$5,105,947$426,240$0$1,724,947
89$5,561,671$382,044$0$1,829,549
90$6,061,830$333,632$0$1,954,068
91$6,610,890$280,733$0$2,090,912
92$7,213,773$223,062$0$2,241,403
93$7,875,900$160,314$0$2,407,004
94$8,603,243$92,170$0$2,589,335
95$9,402,381$18,294$0$2,790,186
96$10,280,561$0$0$3,011,537
97$11,245,769$0$0$3,287,475
98$12,306,801$0$0$3,601,328
99$13,473,348$0$0$3,946,519
100$14,756,087$0$0$4,326,221