Can I retire at age 62 with 678,000?

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 $678,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$55,989$55,490$55,003$54,528$54,065$53,389
2 years$27,717$27,201$26,701$26,216$25,745$25,065
3 years$18,295$17,776$17,277$16,797$16,334$15,671
4 years$13,584$13,067$12,573$12,101$11,649$11,009
5 years$10,759$10,245$9,757$9,295$8,856$8,239
6 years$8,876$8,366$7,885$7,433$7,007$6,415
7 years$7,531$7,026$6,553$6,111$5,699$5,131
8 years$6,523$6,022$5,557$5,126$4,728$4,185
9 years$5,740$5,243$4,787$4,367$3,981$3,463
10 years$5,113$4,622$4,173$3,764$3,392$2,898
11 years$4,601$4,115$3,674$3,276$2,917$2,447
12 years$4,174$3,693$3,260$2,873$2,528$2,081
13 years$3,814$3,337$2,913$2,537$2,205$1,781
14 years$3,505$3,034$2,617$2,252$1,933$1,531
15 years$3,238$2,771$2,363$2,008$1,702$1,321
16 years$3,004$2,543$2,142$1,798$1,504$1,144
17 years$2,798$2,342$1,950$1,616$1,333$993
18 years$2,615$2,164$1,780$1,456$1,186$865
19 years$2,451$2,005$1,629$1,316$1,057$755
20 years$2,304$1,863$1,495$1,192$944$660
21 years$2,172$1,736$1,375$1,081$845$577
22 years$2,051$1,620$1,268$983$757$506
23 years$1,941$1,515$1,170$895$680$444
24 years$1,840$1,420$1,082$817$611$390
25 years$1,748$1,332$1,003$746$550$343
26 years$1,663$1,252$930$682$495$302
27 years$1,584$1,179$863$624$446$266
28 years$1,511$1,111$803$572$403$234
29 years$1,443$1,048$747$524$364$206
30 years$1,380$989$696$481$329$182
31 years$1,321$935$649$442$297$161
32 years$1,266$885$605$406$269$142
33 years$1,214$838$565$374$243$125
34 years$1,166$794$528$344$220$111
35 years$1,120$753$494$316$199$98
36 years$1,077$715$462$291$181$86
37 years$1,036$679$432$269$164$76
38 years$998$645$405$248$149$67
39 years$961$614$379$228$135$60
40 years$927$584$355$210$122$53
41 years$894$556$333$194$111$47
42 years$863$529$313$179$101$41
43 years$834$504$293$165$91$36
44 years$806$481$275$153$83$32
45 years$779$458$259$141$75$28
46 years$753$437$243$130$68$25
47 years$729$417$228$120$62$22
48 years$706$398$214$111$56$20
49 years$683$381$202$103$51$17
50 years$662$363$189$95$46$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $678,000, adding $3,779 every year, while hoping to spend $35,328 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: 41/41/18 Blend
61$678,000$678,000$678,000$678,000
62$751,054$715,120$704,611$777,721
63$790,073$712,572$690,627$794,472
64$831,887$708,715$674,990$808,877
65$876,746$703,448$657,608$823,730
66$924,920$696,663$638,384$839,087
67$976,709$688,247$617,216$855,016
68$1,032,439$678,077$593,999$871,594
69$1,092,471$666,026$568,622$888,908
70$1,157,201$651,959$540,968$907,056
71$1,227,061$635,731$510,917$926,151
72$1,302,530$617,190$478,341$946,318
73$1,384,132$596,176$443,109$967,702
74$1,472,442$572,517$405,082$990,462
75$1,568,094$546,034$364,115$1,014,782
76$1,671,785$516,535$320,059$1,040,865
77$1,784,281$483,819$272,754$1,068,942
78$1,906,423$447,672$222,037$1,099,271
79$2,039,138$407,868$167,735$1,132,142
80$2,183,446$364,169$109,670$1,167,878
81$2,340,467$316,322$47,653$1,206,845
82$2,511,434$264,062$0$1,249,447
83$2,697,706$207,107$0$1,299,698
84$2,900,776$145,159$0$1,364,546
85$3,122,288$77,905$0$1,435,436
86$3,364,052$5,012$0$1,513,043
87$3,628,060$0$0$1,598,116
88$3,916,503$0$0$1,724,813
89$4,231,797$0$0$1,865,860
90$4,576,599$0$0$2,020,194
91$4,953,835$0$0$2,189,138
92$5,366,728$0$0$2,374,144
93$5,818,825$0$0$2,576,815
94$6,314,034$0$0$2,798,914
95$6,856,657$0$0$3,042,385
96$7,451,434$0$0$3,309,366
97$8,103,582$0$0$3,602,213
98$8,818,851$0$0$3,923,523
99$9,603,572$0$0$4,276,154
100$10,464,718$0$0$4,663,254