Can I retire at age 62 with 679,000?

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 $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%12.4%
1 years$56,071$55,572$55,084$54,609$54,144$53,601
2 years$27,758$27,241$26,740$26,254$25,783$25,236
3 years$18,322$17,802$17,303$16,821$16,358$15,824
4 years$13,604$13,087$12,592$12,119$11,667$11,150
5 years$10,775$10,260$9,772$9,308$8,869$8,371
6 years$8,889$8,378$7,897$7,444$7,018$6,539
7 years$7,542$7,036$6,562$6,120$5,707$5,248
8 years$6,533$6,031$5,566$5,134$4,735$4,295
9 years$5,748$5,251$4,794$4,373$3,987$3,567
10 years$5,121$4,629$4,179$3,770$3,397$2,996
11 years$4,608$4,121$3,679$3,281$2,922$2,539
12 years$4,181$3,698$3,265$2,878$2,532$2,168
13 years$3,819$3,342$2,917$2,541$2,208$1,862
14 years$3,510$3,038$2,621$2,255$1,935$1,607
15 years$3,242$2,775$2,367$2,011$1,704$1,392
16 years$3,008$2,546$2,146$1,801$1,506$1,211
17 years$2,802$2,345$1,952$1,618$1,335$1,056
18 years$2,619$2,167$1,782$1,458$1,187$923
19 years$2,455$2,008$1,632$1,318$1,058$809
20 years$2,308$1,866$1,497$1,193$945$710
21 years$2,175$1,738$1,377$1,083$846$624
22 years$2,054$1,623$1,269$985$758$550
23 years$1,944$1,518$1,172$897$681$485
24 years$1,843$1,422$1,084$818$612$428
25 years$1,751$1,334$1,004$747$551$378
26 years$1,665$1,254$931$683$496$334
27 years$1,586$1,180$865$625$447$296
28 years$1,513$1,112$804$573$403$262
29 years$1,445$1,049$748$525$364$232
30 years$1,382$991$697$482$329$206
31 years$1,323$937$650$443$298$182
32 years$1,268$886$606$407$269$162
33 years$1,216$839$566$374$244$143
34 years$1,167$795$529$344$221$127
35 years$1,122$755$494$317$200$113
36 years$1,078$716$462$292$181$100
37 years$1,038$680$433$269$164$89
38 years$999$646$405$248$149$79
39 years$963$615$380$229$135$70
40 years$928$585$356$211$122$63
41 years$896$557$334$194$111$56
42 years$864$530$313$179$101$49
43 years$835$505$294$166$91$44
44 years$807$482$276$153$83$39
45 years$780$459$259$141$75$35
46 years$754$438$243$131$68$31
47 years$730$418$228$121$62$27
48 years$707$399$215$111$56$24
49 years$684$381$202$103$51$22
50 years$663$364$190$95$47$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $679,000, adding $4,290 every year, while hoping to spend $24,748 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: 47/26/27 Blend
61$679,000$679,000$679,000$679,000
62$752,683$716,696$706,172$782,062
63$803,125$725,483$703,497$811,982
64$857,883$733,870$699,903$841,686
65$917,370$741,813$695,333$873,447
66$982,043$749,263$689,727$907,473
67$1,052,401$756,167$683,023$943,991
68$1,128,998$762,471$675,156$983,252
69$1,212,438$768,114$666,057$1,025,537
70$1,303,391$773,036$655,653$1,071,154
71$1,402,590$777,168$643,871$1,120,444
72$1,510,844$780,439$630,631$1,173,785
73$1,629,044$782,774$615,851$1,231,595
74$1,758,169$784,093$599,444$1,294,334
75$1,899,299$784,310$581,322$1,362,514
76$2,053,620$783,333$561,389$1,436,698
77$2,222,440$781,068$539,546$1,517,511
78$2,407,200$777,411$515,692$1,605,641
79$2,609,484$772,254$489,717$1,701,849
80$2,831,039$765,482$461,511$1,806,979
81$3,073,787$756,973$430,954$1,921,958
82$3,339,846$746,597$397,923$2,047,815
83$3,631,548$734,218$362,291$2,185,684
84$3,951,461$719,690$323,923$2,336,819
85$4,302,415$702,859$282,679$2,502,603
86$4,687,524$683,563$238,412$2,684,566
87$5,110,222$661,628$190,969$2,884,395
88$5,574,290$636,872$140,191$3,103,954
89$6,083,891$609,102$85,911$3,345,302
90$6,643,613$578,114$27,955$3,610,710
91$7,258,511$543,691$0$3,902,687
92$7,934,152$505,605$0$4,233,765
93$8,676,670$463,614$0$4,606,465
94$9,492,821$417,462$0$5,016,155
95$10,390,050$366,879$0$5,466,615
96$11,376,559$311,580$0$5,962,017
97$12,461,384$251,262$0$6,506,957
98$13,654,479$185,609$0$7,106,504
99$14,966,815$114,283$0$7,766,248
100$16,410,476$36,928$0$8,492,349