Can I retire at age 62 with 676,000?

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 $676,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$55,823$55,326$54,841$54,368$53,905$53,387
2 years$27,635$27,121$26,622$26,138$25,669$25,147
3 years$18,241$17,724$17,226$16,747$16,286$15,776
4 years$13,544$13,029$12,536$12,065$11,615$11,121
5 years$10,727$10,215$9,729$9,267$8,830$8,354
6 years$8,849$8,341$7,862$7,411$6,987$6,529
7 years$7,509$7,005$6,533$6,093$5,682$5,243
8 years$6,504$6,004$5,541$5,111$4,714$4,293
9 years$5,723$5,228$4,772$4,354$3,970$3,568
10 years$5,098$4,608$4,161$3,753$3,382$2,998
11 years$4,587$4,102$3,663$3,266$2,909$2,543
12 years$4,162$3,682$3,251$2,865$2,521$2,172
13 years$3,803$3,328$2,904$2,529$2,198$1,867
14 years$3,495$3,025$2,610$2,245$1,927$1,612
15 years$3,228$2,763$2,356$2,002$1,697$1,398
16 years$2,995$2,535$2,136$1,793$1,499$1,216
17 years$2,789$2,335$1,944$1,611$1,330$1,062
18 years$2,607$2,157$1,774$1,452$1,182$929
19 years$2,444$1,999$1,624$1,312$1,054$815
20 years$2,298$1,858$1,491$1,188$941$716
21 years$2,165$1,731$1,371$1,078$842$630
22 years$2,045$1,615$1,264$980$755$555
23 years$1,935$1,511$1,167$893$678$490
24 years$1,835$1,416$1,079$814$609$432
25 years$1,743$1,328$1,000$744$548$382
26 years$1,658$1,249$927$680$494$338
27 years$1,579$1,175$861$622$445$300
28 years$1,507$1,107$800$570$402$265
29 years$1,439$1,045$745$523$363$235
30 years$1,376$986$694$480$328$209
31 years$1,317$933$647$441$296$185
32 years$1,262$882$603$405$268$164
33 years$1,211$836$563$373$243$146
34 years$1,162$792$526$343$220$130
35 years$1,117$751$492$316$199$115
36 years$1,074$713$460$291$180$102
37 years$1,033$677$431$268$163$91
38 years$995$644$404$247$148$81
39 years$959$612$378$228$134$72
40 years$924$582$354$210$122$64
41 years$892$554$332$194$110$57
42 years$861$528$312$179$100$51
43 years$831$503$292$165$91$45
44 years$803$479$275$152$83$40
45 years$776$457$258$141$75$36
46 years$751$436$242$130$68$32
47 years$727$416$227$120$62$28
48 years$703$397$214$111$56$25
49 years$681$379$201$103$51$22
50 years$660$362$189$95$46$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $676,000, adding $6,159 every year, while hoping to spend $25,339 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: 53/19/28 Blend
61$676,000$676,000$676,000$676,000
62$751,305$715,477$704,999$784,959
63$800,978$723,575$701,656$817,041
64$854,868$731,220$697,352$848,856
65$913,378$738,364$692,027$882,977
66$976,954$744,955$685,621$919,634
67$1,046,081$750,936$678,068$959,083
68$1,121,299$756,249$669,300$1,001,606
69$1,203,197$760,831$659,247$1,047,516
70$1,292,425$764,614$647,834$1,097,156
71$1,389,700$767,527$634,984$1,150,909
72$1,495,808$769,495$620,615$1,209,196
73$1,611,617$770,437$604,642$1,272,483
74$1,738,080$770,266$586,975$1,341,283
75$1,876,248$768,893$567,523$1,416,165
76$2,027,277$766,220$546,186$1,497,757
77$2,192,439$762,145$522,864$1,586,753
78$2,373,137$756,560$497,449$1,683,920
79$2,570,915$749,348$469,831$1,790,102
80$2,787,470$740,389$439,892$1,906,236
81$3,024,675$729,551$407,512$2,033,352
82$3,284,592$716,698$372,563$2,172,592
83$3,569,488$701,685$334,912$2,325,212
84$3,881,865$684,357$294,421$2,492,603
85$4,224,476$664,550$250,944$2,676,297
86$4,600,352$642,093$204,331$2,877,989
87$5,012,835$616,803$154,423$3,099,547
88$5,465,603$588,485$101,055$3,343,034
89$5,962,710$556,936$44,056$3,610,725
90$6,508,619$521,939$0$3,905,135
91$7,108,250$483,265$0$4,234,046
92$7,767,018$440,672$0$4,609,878
93$8,490,894$393,905$0$5,022,892
94$9,286,451$342,692$0$5,476,871
95$10,160,934$286,749$0$5,975,991
96$11,122,323$225,774$0$6,524,850
97$12,179,411$159,447$0$7,128,521
98$13,341,883$87,433$0$7,792,594
99$14,620,414$9,375$0$8,523,230
100$16,026,760$0$0$9,327,222