Can I retire at age 62 with 679,000?

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 $679,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$56,071$55,572$55,084$54,609$54,144$53,247
2 years$27,758$27,241$26,740$26,254$25,783$24,882
3 years$18,322$17,802$17,303$16,821$16,358$15,481
4 years$13,604$13,087$12,592$12,119$11,667$10,820
5 years$10,775$10,260$9,772$9,308$8,869$8,055
6 years$8,889$8,378$7,897$7,444$7,018$6,238
7 years$7,542$7,036$6,562$6,120$5,707$4,962
8 years$6,533$6,031$5,566$5,134$4,735$4,024
9 years$5,748$5,251$4,794$4,373$3,987$3,310
10 years$5,121$4,629$4,179$3,770$3,397$2,754
11 years$4,608$4,121$3,679$3,281$2,922$2,311
12 years$4,181$3,698$3,265$2,878$2,532$1,953
13 years$3,819$3,342$2,917$2,541$2,208$1,659
14 years$3,510$3,038$2,621$2,255$1,935$1,417
15 years$3,242$2,775$2,367$2,011$1,704$1,215
16 years$3,008$2,546$2,146$1,801$1,506$1,044
17 years$2,802$2,345$1,952$1,618$1,335$901
18 years$2,619$2,167$1,782$1,458$1,187$779
19 years$2,455$2,008$1,632$1,318$1,058$674
20 years$2,308$1,866$1,497$1,193$945$585
21 years$2,175$1,738$1,377$1,083$846$508
22 years$2,054$1,623$1,269$985$758$442
23 years$1,944$1,518$1,172$897$681$385
24 years$1,843$1,422$1,084$818$612$336
25 years$1,751$1,334$1,004$747$551$293
26 years$1,665$1,254$931$683$496$256
27 years$1,586$1,180$865$625$447$223
28 years$1,513$1,112$804$573$403$195
29 years$1,445$1,049$748$525$364$171
30 years$1,382$991$697$482$329$149
31 years$1,323$937$650$443$298$131
32 years$1,268$886$606$407$269$114
33 years$1,216$839$566$374$244$100
34 years$1,167$795$529$344$221$88
35 years$1,122$755$494$317$200$77
36 years$1,078$716$462$292$181$67
37 years$1,038$680$433$269$164$59
38 years$999$646$405$248$149$52
39 years$963$615$380$229$135$45
40 years$928$585$356$211$122$40
41 years$896$557$334$194$111$35
42 years$864$530$313$179$101$30
43 years$835$505$294$166$91$27
44 years$807$482$276$153$83$23
45 years$780$459$259$141$75$21
46 years$754$438$243$131$68$18
47 years$730$418$228$121$62$16
48 years$707$399$215$111$56$14
49 years$684$381$202$103$51$12
50 years$663$364$190$95$47$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $679,000, adding $3,643 every year, while hoping to spend $26,793 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: 64/23/13 Blend
61$679,000$679,000$679,000$679,000
62$752,016$716,029$705,504$797,622
63$800,214$722,607$700,631$835,158
64$852,430$728,609$694,697$872,708
65$909,046$733,979$687,637$913,061
66$970,482$738,657$679,386$956,487
67$1,037,198$742,578$669,872$1,003,288
68$1,109,703$745,675$659,024$1,053,797
69$1,188,554$747,875$646,763$1,108,377
70$1,274,367$749,101$633,010$1,167,435
71$1,367,817$749,272$617,680$1,231,415
72$1,469,648$748,300$600,686$1,300,810
73$1,580,679$746,093$581,936$1,376,162
74$1,701,811$742,554$561,333$1,458,071
75$1,834,034$737,578$538,777$1,547,197
76$1,978,442$731,055$514,162$1,644,269
77$2,136,235$722,869$487,379$1,750,093
78$2,308,737$712,896$458,312$1,865,556
79$2,497,405$701,004$426,841$1,991,637
80$2,703,841$687,054$392,842$2,129,419
81$2,929,813$670,900$356,182$2,280,092
82$3,177,264$652,384$316,724$2,444,973
83$3,448,337$631,343$274,326$2,625,513
84$3,745,389$607,600$228,838$2,823,313
85$4,071,018$580,972$180,103$3,040,140
86$4,428,085$551,263$127,960$3,277,942
87$4,819,740$518,265$72,237$3,538,868
88$5,249,453$481,760$12,757$3,825,290
89$5,721,047$441,516$0$4,139,824
90$6,238,733$397,290$0$4,492,387
91$6,807,148$348,821$0$4,881,474
92$7,431,402$295,837$0$5,308,850
93$8,117,121$238,050$0$5,778,414
94$8,870,508$175,155$0$6,294,466
95$9,698,391$106,829$0$6,861,745
96$10,608,295$32,732$0$7,485,476
97$11,608,511$0$0$8,171,418
98$12,708,172$0$0$8,937,943
99$13,917,338$0$0$9,789,960
100$15,247,098$0$0$10,727,004