Can I retire at age 62 with 677,000?

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 $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%18.8%
1 years$55,906$55,408$54,922$54,448$53,985$52,069
2 years$27,676$27,161$26,661$26,177$25,707$23,798
3 years$18,268$17,750$17,252$16,772$16,310$14,466
4 years$13,564$13,048$12,555$12,083$11,632$9,869
5 years$10,743$10,230$9,743$9,281$8,843$7,164
6 years$8,863$8,353$7,874$7,422$6,997$5,405
7 years$7,520$7,015$6,543$6,102$5,690$4,184
8 years$6,514$6,013$5,549$5,119$4,721$3,299
9 years$5,731$5,236$4,779$4,360$3,975$2,636
10 years$5,106$4,615$4,167$3,759$3,387$2,128
11 years$4,594$4,108$3,668$3,271$2,913$1,732
12 years$4,168$3,688$3,256$2,869$2,525$1,418
13 years$3,808$3,332$2,909$2,533$2,201$1,167
14 years$3,500$3,029$2,613$2,249$1,930$964
15 years$3,233$2,767$2,360$2,005$1,699$799
16 years$2,999$2,539$2,139$1,796$1,502$664
17 years$2,794$2,338$1,947$1,613$1,331$553
18 years$2,611$2,161$1,777$1,454$1,184$461
19 years$2,448$2,002$1,627$1,314$1,055$385
20 years$2,301$1,861$1,493$1,190$943$322
21 years$2,168$1,733$1,373$1,080$843$270
22 years$2,048$1,618$1,266$982$756$226
23 years$1,938$1,513$1,169$894$679$190
24 years$1,838$1,418$1,081$816$610$159
25 years$1,745$1,330$1,001$745$549$134
26 years$1,660$1,250$928$681$494$112
27 years$1,582$1,177$862$623$446$94
28 years$1,509$1,109$801$571$402$79
29 years$1,441$1,046$746$524$363$67
30 years$1,378$988$695$481$328$56
31 years$1,319$934$648$441$297$47
32 years$1,264$884$604$406$268$40
33 years$1,212$837$564$373$243$33
34 years$1,164$793$527$343$220$28
35 years$1,118$752$493$316$199$24
36 years$1,075$714$461$291$180$20
37 years$1,035$678$432$268$164$17
38 years$996$645$404$247$148$14
39 years$960$613$379$228$134$12
40 years$926$583$355$210$122$10
41 years$893$555$333$194$111$8
42 years$862$529$312$179$100$7
43 years$832$504$293$165$91$6
44 years$804$480$275$153$83$5
45 years$778$458$258$141$75$4
46 years$752$437$242$130$68$4
47 years$728$417$228$120$62$3
48 years$705$398$214$111$56$3
49 years$682$380$201$103$51$2
50 years$661$363$189$95$46$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $677,000, adding $6,083 every year, while hoping to spend $25,915 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: 61/31/8 Blend
61$677,000$677,000$677,000$677,000
62$752,329$716,448$705,954$796,578
63$801,493$723,980$702,030$834,463
64$854,803$731,013$697,106$872,249
65$912,655$737,495$691,122$912,823
66$975,484$743,370$684,012$956,454
67$1,043,768$748,580$675,711$1,003,441
68$1,118,034$753,062$666,149$1,054,109
69$1,198,861$756,750$655,252$1,108,822
70$1,286,886$759,571$642,944$1,167,978
71$1,382,810$761,452$629,145$1,232,017
72$1,487,405$762,312$613,770$1,301,426
73$1,601,521$762,066$596,732$1,376,740
74$1,726,092$760,623$577,938$1,458,551
75$1,862,148$757,888$557,294$1,547,512
76$2,010,821$753,759$534,697$1,644,343
77$2,173,359$748,127$510,044$1,749,839
78$2,351,136$740,879$483,224$1,864,876
79$2,545,662$731,893$454,123$1,990,423
80$2,758,603$721,039$422,620$2,127,547
81$2,991,793$708,183$388,590$2,277,425
82$3,247,251$693,178$351,902$2,441,358
83$3,527,199$675,873$312,419$2,620,778
84$3,834,087$656,104$269,999$2,817,268
85$4,170,612$633,701$224,492$3,032,572
86$4,539,743$608,481$175,741$3,268,615
87$4,944,754$580,254$123,586$3,527,522
88$5,389,247$548,815$67,854$3,811,634
89$5,877,193$513,949$8,370$4,123,536
90$6,412,964$475,430$0$4,466,078
91$7,001,377$433,016$0$4,847,108
92$7,647,738$386,455$0$5,266,458
93$8,357,892$335,477$0$5,727,255
94$9,138,281$279,798$0$6,233,736
95$9,995,997$219,120$0$6,790,572
96$10,938,857$153,125$0$7,402,915
97$11,975,472$81,480$0$8,076,443
98$13,115,328$3,831$0$8,817,420
99$14,368,878$0$0$9,632,750
100$15,747,637$0$0$10,557,404