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%12.8%
1 years$55,823$55,326$54,841$54,368$53,905$53,276
2 years$27,635$27,121$26,622$26,138$25,669$25,036
3 years$18,241$17,724$17,226$16,747$16,286$15,668
4 years$13,544$13,029$12,536$12,065$11,615$11,017
5 years$10,727$10,215$9,729$9,267$8,830$8,254
6 years$8,849$8,341$7,862$7,411$6,987$6,434
7 years$7,509$7,005$6,533$6,093$5,682$5,152
8 years$6,504$6,004$5,541$5,111$4,714$4,207
9 years$5,723$5,228$4,772$4,354$3,970$3,485
10 years$5,098$4,608$4,161$3,753$3,382$2,921
11 years$4,587$4,102$3,663$3,266$2,909$2,469
12 years$4,162$3,682$3,251$2,865$2,521$2,103
13 years$3,803$3,328$2,904$2,529$2,198$1,801
14 years$3,495$3,025$2,610$2,245$1,927$1,550
15 years$3,228$2,763$2,356$2,002$1,697$1,340
16 years$2,995$2,535$2,136$1,793$1,499$1,162
17 years$2,789$2,335$1,944$1,611$1,330$1,010
18 years$2,607$2,157$1,774$1,452$1,182$881
19 years$2,444$1,999$1,624$1,312$1,054$770
20 years$2,298$1,858$1,491$1,188$941$674
21 years$2,165$1,731$1,371$1,078$842$591
22 years$2,045$1,615$1,264$980$755$519
23 years$1,935$1,511$1,167$893$678$456
24 years$1,835$1,416$1,079$814$609$401
25 years$1,743$1,328$1,000$744$548$353
26 years$1,658$1,249$927$680$494$311
27 years$1,579$1,175$861$622$445$274
28 years$1,507$1,107$800$570$402$242
29 years$1,439$1,045$745$523$363$214
30 years$1,376$986$694$480$328$189
31 years$1,317$933$647$441$296$167
32 years$1,262$882$603$405$268$148
33 years$1,211$836$563$373$243$131
34 years$1,162$792$526$343$220$115
35 years$1,117$751$492$316$199$102
36 years$1,074$713$460$291$180$90
37 years$1,033$677$431$268$163$80
38 years$995$644$404$247$148$71
39 years$959$612$378$228$134$63
40 years$924$582$354$210$122$56
41 years$892$554$332$194$110$49
42 years$861$528$312$179$100$44
43 years$831$503$292$165$91$39
44 years$803$479$275$152$83$34
45 years$776$457$258$141$75$30
46 years$751$436$242$130$68$27
47 years$727$416$227$120$62$24
48 years$703$397$214$111$56$21
49 years$681$379$201$103$51$19
50 years$660$362$189$95$46$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $676,000, adding $4,658 every year, while hoping to spend $51,583 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: 67/11/22 Blend
61$676,000$676,000$676,000$676,000
62$749,757$713,929$703,451$795,510
63$771,348$694,027$672,132$806,875
64$793,413$671,422$638,036$812,945
65$815,945$645,926$601,014$818,367
66$838,936$617,340$560,913$823,074
67$862,374$585,457$517,570$827,000
68$886,246$550,054$470,819$830,070
69$910,534$510,898$420,482$832,203
70$935,217$467,741$366,377$833,314
71$960,270$420,320$308,311$833,312
72$985,662$368,361$246,084$832,096
73$1,011,359$311,570$179,488$829,559
74$1,037,320$249,639$108,302$825,586
75$1,063,497$182,241$32,301$820,053
76$1,089,835$109,033$0$812,826
77$1,116,273$29,650$0$815,217
78$1,142,738$0$0$824,451
79$1,169,150$0$0$839,643
80$1,195,417$0$0$858,293
81$1,221,433$0$0$876,736
82$1,247,082$0$0$894,883
83$1,272,230$0$0$912,635
84$1,296,729$0$0$929,883
85$1,320,411$0$0$946,500
86$1,343,088$0$0$962,348
87$1,364,550$0$0$977,271
88$1,384,562$0$0$991,095
89$1,402,860$0$0$1,003,623
90$1,419,154$0$0$1,014,640
91$1,433,115$0$0$1,023,903
92$1,444,380$0$0$1,031,142
93$1,452,544$0$0$1,036,058
94$1,457,157$0$0$1,038,317
95$1,457,720$0$0$1,037,549
96$1,453,675$0$0$1,033,343
97$1,444,407$0$0$1,025,241
98$1,429,231$0$0$1,012,737
99$1,407,388$0$0$995,270
100$1,378,037$0$0$972,218