Can I retire at age 62 with 678,000?

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 $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%11.5%
1 years$55,989$55,490$55,003$54,528$54,065$53,724
2 years$27,717$27,201$26,701$26,216$25,745$25,401
3 years$18,295$17,776$17,277$16,797$16,334$15,998
4 years$13,584$13,067$12,573$12,101$11,649$11,324
5 years$10,759$10,245$9,757$9,295$8,856$8,541
6 years$8,876$8,366$7,885$7,433$7,007$6,704
7 years$7,531$7,026$6,553$6,111$5,699$5,408
8 years$6,523$6,022$5,557$5,126$4,728$4,448
9 years$5,740$5,243$4,787$4,367$3,981$3,714
10 years$5,113$4,622$4,173$3,764$3,392$3,136
11 years$4,601$4,115$3,674$3,276$2,917$2,673
12 years$4,174$3,693$3,260$2,873$2,528$2,295
13 years$3,814$3,337$2,913$2,537$2,205$1,982
14 years$3,505$3,034$2,617$2,252$1,933$1,721
15 years$3,238$2,771$2,363$2,008$1,702$1,500
16 years$3,004$2,543$2,142$1,798$1,504$1,313
17 years$2,798$2,342$1,950$1,616$1,333$1,152
18 years$2,615$2,164$1,780$1,456$1,186$1,014
19 years$2,451$2,005$1,629$1,316$1,057$894
20 years$2,304$1,863$1,495$1,192$944$790
21 years$2,172$1,736$1,375$1,081$845$699
22 years$2,051$1,620$1,268$983$757$620
23 years$1,941$1,515$1,170$895$680$550
24 years$1,840$1,420$1,082$817$611$489
25 years$1,748$1,332$1,003$746$550$435
26 years$1,663$1,252$930$682$495$387
27 years$1,584$1,179$863$624$446$345
28 years$1,511$1,111$803$572$403$308
29 years$1,443$1,048$747$524$364$275
30 years$1,380$989$696$481$329$245
31 years$1,321$935$649$442$297$219
32 years$1,266$885$605$406$269$196
33 years$1,214$838$565$374$243$175
34 years$1,166$794$528$344$220$156
35 years$1,120$753$494$316$199$140
36 years$1,077$715$462$291$181$125
37 years$1,036$679$432$269$164$112
38 years$998$645$405$248$149$100
39 years$961$614$379$228$135$90
40 years$927$584$355$210$122$80
41 years$894$556$333$194$111$72
42 years$863$529$313$179$101$65
43 years$834$504$293$165$91$58
44 years$806$481$275$153$83$52
45 years$779$458$259$141$75$46
46 years$753$437$243$130$68$42
47 years$729$417$228$120$62$37
48 years$706$398$214$111$56$33
49 years$683$381$202$103$51$30
50 years$662$363$189$95$46$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $678,000, adding $3,011 every year, while hoping to spend $55,326 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: 31/48/21 Blend
61$678,000$678,000$678,000$678,000
62$750,262$714,328$703,819$768,543
63$767,922$690,463$668,530$758,754
64$785,529$663,575$630,205$743,028
65$803,020$633,457$588,684$724,945
66$820,322$599,890$543,798$704,335
67$837,353$562,643$495,374$681,016
68$854,022$521,472$443,228$654,793
69$870,227$476,118$387,171$625,460
70$885,850$426,309$327,001$592,797
71$900,763$371,754$262,512$556,570
72$914,821$312,150$193,487$516,527
73$927,862$247,174$119,697$472,403
74$939,704$176,486$40,907$423,912
75$950,146$99,726$0$370,752
76$958,962$16,514$0$322,273
77$965,903$0$0$278,865
78$970,689$0$0$269,893
79$973,011$0$0$268,742
80$972,524$0$0$266,570
81$968,845$0$0$263,245
82$961,551$0$0$258,620
83$950,170$0$0$252,531
84$934,180$0$0$244,799
85$913,002$0$0$235,222
86$885,996$0$0$223,581
87$852,451$0$0$209,630
88$811,581$0$0$193,098
89$762,516$0$0$173,686
90$704,293$0$0$151,061
91$635,848$0$0$124,859
92$556,002$0$0$94,672
93$463,454$0$0$60,055
94$356,764$0$0$20,512
95$234,342$0$0$0
96$94,430$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0