Can I retire at age 62 with 677,000?

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 $677,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$55,906$55,408$54,922$54,448$53,985$53,200
2 years$27,676$27,161$26,661$26,177$25,707$24,918
3 years$18,268$17,750$17,252$16,772$16,310$15,541
4 years$13,564$13,048$12,555$12,083$11,632$10,890
5 years$10,743$10,230$9,743$9,281$8,843$8,129
6 years$8,863$8,353$7,874$7,422$6,997$6,312
7 years$7,520$7,015$6,543$6,102$5,690$5,035
8 years$6,514$6,013$5,549$5,119$4,721$4,095
9 years$5,731$5,236$4,779$4,360$3,975$3,378
10 years$5,106$4,615$4,167$3,759$3,387$2,819
11 years$4,594$4,108$3,668$3,271$2,913$2,373
12 years$4,168$3,688$3,256$2,869$2,525$2,012
13 years$3,808$3,332$2,909$2,533$2,201$1,715
14 years$3,500$3,029$2,613$2,249$1,930$1,469
15 years$3,233$2,767$2,360$2,005$1,699$1,264
16 years$2,999$2,539$2,139$1,796$1,502$1,091
17 years$2,794$2,338$1,947$1,613$1,331$944
18 years$2,611$2,161$1,777$1,454$1,184$819
19 years$2,448$2,002$1,627$1,314$1,055$712
20 years$2,301$1,861$1,493$1,190$943$620
21 years$2,168$1,733$1,373$1,080$843$541
22 years$2,048$1,618$1,266$982$756$472
23 years$1,938$1,513$1,169$894$679$413
24 years$1,838$1,418$1,081$816$610$361
25 years$1,745$1,330$1,001$745$549$316
26 years$1,660$1,250$928$681$494$277
27 years$1,582$1,177$862$623$446$243
28 years$1,509$1,109$801$571$402$213
29 years$1,441$1,046$746$524$363$187
30 years$1,378$988$695$481$328$165
31 years$1,319$934$648$441$297$145
32 years$1,264$884$604$406$268$127
33 years$1,212$837$564$373$243$112
34 years$1,164$793$527$343$220$98
35 years$1,118$752$493$316$199$86
36 years$1,075$714$461$291$180$76
37 years$1,035$678$432$268$164$67
38 years$996$645$404$247$148$59
39 years$960$613$379$228$134$52
40 years$926$583$355$210$122$46
41 years$893$555$333$194$111$40
42 years$862$529$312$179$100$35
43 years$832$504$293$165$91$31
44 years$804$480$275$153$83$27
45 years$778$458$258$141$75$24
46 years$752$437$242$130$68$21
47 years$728$417$228$120$62$19
48 years$705$398$214$111$56$16
49 years$682$380$201$103$51$15
50 years$661$363$189$95$46$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $677,000, adding $4,746 every year, while hoping to spend $52,673 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: 36/36/28 Blend
61$677,000$677,000$677,000$677,000
62$750,949$715,068$704,575$771,533
63$771,503$694,063$672,135$766,251
64$792,387$670,263$636,842$755,448
65$813,580$643,476$598,546$742,774
66$835,057$613,498$557,089$728,096
67$856,787$580,114$512,306$711,274
68$878,735$543,095$464,024$692,157
69$900,860$502,200$412,062$670,586
70$923,115$457,176$356,234$646,392
71$945,447$407,752$296,342$619,395
72$967,795$353,643$232,181$589,404
73$990,088$294,550$163,537$556,217
74$1,012,247$230,153$90,187$519,617
75$1,034,184$160,118$11,895$479,374
76$1,055,797$84,090$0$435,244
77$1,076,972$1,695$0$408,375
78$1,097,582$0$0$382,267
79$1,117,484$0$0$387,795
80$1,136,515$0$0$393,596
81$1,154,497$0$0$398,925
82$1,171,227$0$0$403,701
83$1,186,482$0$0$407,833
84$1,200,010$0$0$411,220
85$1,211,532$0$0$413,748
86$1,220,737$0$0$415,292
87$1,227,277$0$0$415,714
88$1,230,769$0$0$414,857
89$1,230,784$0$0$412,550
90$1,226,846$0$0$408,603
91$1,218,427$0$0$402,803
92$1,204,943$0$0$394,915
93$1,185,744$0$0$384,681
94$1,160,111$0$0$371,811
95$1,127,246$0$0$355,987
96$1,086,266$0$0$336,856
97$1,036,193$0$0$314,028
98$975,945$0$0$287,069
99$904,325$0$0$255,502
100$820,008$0$0$218,799