Can I retire at age 62 with 676,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%14.8%
1 years$55,823$55,326$54,841$54,368$53,905$52,838
2 years$27,635$27,121$26,622$26,138$25,669$24,599
3 years$18,241$17,724$17,226$16,747$16,286$15,245
4 years$13,544$13,029$12,536$12,065$11,615$10,613
5 years$10,727$10,215$9,729$9,267$8,830$7,868
6 years$8,849$8,341$7,862$7,411$6,987$6,067
7 years$7,509$7,005$6,533$6,093$5,682$4,804
8 years$6,504$6,004$5,541$5,111$4,714$3,878
9 years$5,723$5,228$4,772$4,354$3,970$3,175
10 years$5,098$4,608$4,161$3,753$3,382$2,628
11 years$4,587$4,102$3,663$3,266$2,909$2,194
12 years$4,162$3,682$3,251$2,865$2,521$1,845
13 years$3,803$3,328$2,904$2,529$2,198$1,559
14 years$3,495$3,025$2,610$2,245$1,927$1,324
15 years$3,228$2,763$2,356$2,002$1,697$1,129
16 years$2,995$2,535$2,136$1,793$1,499$965
17 years$2,789$2,335$1,944$1,611$1,330$828
18 years$2,607$2,157$1,774$1,452$1,182$711
19 years$2,444$1,999$1,624$1,312$1,054$612
20 years$2,298$1,858$1,491$1,188$941$528
21 years$2,165$1,731$1,371$1,078$842$456
22 years$2,045$1,615$1,264$980$755$394
23 years$1,935$1,511$1,167$893$678$341
24 years$1,835$1,416$1,079$814$609$296
25 years$1,743$1,328$1,000$744$548$256
26 years$1,658$1,249$927$680$494$222
27 years$1,579$1,175$861$622$445$193
28 years$1,507$1,107$800$570$402$168
29 years$1,439$1,045$745$523$363$146
30 years$1,376$986$694$480$328$126
31 years$1,317$933$647$441$296$110
32 years$1,262$882$603$405$268$96
33 years$1,211$836$563$373$243$83
34 years$1,162$792$526$343$220$72
35 years$1,117$751$492$316$199$63
36 years$1,074$713$460$291$180$55
37 years$1,033$677$431$268$163$48
38 years$995$644$404$247$148$41
39 years$959$612$378$228$134$36
40 years$924$582$354$210$122$31
41 years$892$554$332$194$110$27
42 years$861$528$312$179$100$24
43 years$831$503$292$165$91$21
44 years$803$479$275$152$83$18
45 years$776$457$258$141$75$16
46 years$751$436$242$130$68$14
47 years$727$416$227$120$62$12
48 years$703$397$214$111$56$10
49 years$681$379$201$103$51$9
50 years$660$362$189$95$46$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $676,000, adding $5,153 every year, while hoping to spend $20,750 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: 78/16/6 Blend
61$676,000$676,000$676,000$676,000
62$750,267$714,439$703,961$807,989
63$804,717$727,369$705,466$859,504
64$864,025$740,237$706,326$912,758
65$928,664$753,018$706,497$970,539
66$999,158$765,685$705,934$1,033,290
67$1,076,078$778,210$704,589$1,101,494
68$1,160,057$790,561$702,412$1,175,688
69$1,251,789$802,705$699,349$1,256,458
70$1,352,041$814,607$695,347$1,344,455
71$1,461,654$826,227$690,346$1,440,391
72$1,581,556$837,526$684,286$1,545,055
73$1,712,769$848,459$677,104$1,659,312
74$1,856,417$858,980$668,733$1,784,118
75$2,013,740$869,037$659,103$1,920,524
76$2,186,100$878,579$648,142$2,069,690
77$2,375,000$887,547$635,772$2,232,892
78$2,582,094$895,881$621,915$2,411,538
79$2,809,205$903,517$606,486$2,607,177
80$3,058,338$910,383$589,398$2,821,517
81$3,331,705$916,409$570,559$3,056,441
82$3,631,740$921,514$549,874$3,314,022
83$3,961,125$925,615$527,242$3,596,545
84$4,322,814$928,625$502,559$3,906,528
85$4,720,062$930,447$475,715$4,246,747
86$5,156,452$930,984$446,596$4,620,258
87$5,635,936$930,127$415,082$5,030,432
88$6,162,862$927,765$381,048$5,480,981
89$6,742,025$923,776$344,365$5,975,997
90$7,378,705$918,035$304,894$6,519,990
91$8,078,720$910,405$262,495$7,117,928
92$8,848,479$900,744$217,018$7,775,289
93$9,695,043$888,901$168,308$8,498,107
94$10,626,194$874,713$116,203$9,293,032
95$11,650,504$858,012$60,533$10,167,395
96$12,777,417$838,616$1,123$11,129,272
97$14,017,339$816,334$0$12,187,566
98$15,381,738$790,964$0$13,356,073
99$16,883,246$762,292$0$14,641,953
100$18,535,783$730,091$0$16,057,062