Can I retire at age 62 with 680,000?

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 $680,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$56,154$55,654$55,166$54,689$54,224$52,742
2 years$27,799$27,281$26,779$26,293$25,821$24,339
3 years$18,349$17,829$17,328$16,846$16,382$14,946
4 years$13,624$13,106$12,610$12,137$11,684$10,305
5 years$10,790$10,275$9,786$9,322$8,882$7,564
6 years$8,902$8,390$7,909$7,455$7,028$5,772
7 years$7,553$7,046$6,572$6,129$5,716$4,522
8 years$6,542$6,040$5,574$5,142$4,742$3,610
9 years$5,757$5,259$4,801$4,379$3,993$2,922
10 years$5,128$4,635$4,185$3,775$3,402$2,390
11 years$4,615$4,127$3,685$3,286$2,926$1,972
12 years$4,187$3,704$3,270$2,882$2,536$1,637
13 years$3,825$3,347$2,922$2,544$2,211$1,366
14 years$3,515$3,043$2,625$2,258$1,938$1,145
15 years$3,247$2,779$2,370$2,014$1,707$964
16 years$3,013$2,550$2,149$1,803$1,508$813
17 years$2,806$2,348$1,955$1,620$1,337$688
18 years$2,622$2,170$1,785$1,460$1,189$583
19 years$2,459$2,011$1,634$1,320$1,060$495
20 years$2,311$1,869$1,500$1,195$947$420
21 years$2,178$1,741$1,379$1,085$847$358
22 years$2,057$1,625$1,271$986$759$305
23 years$1,947$1,520$1,174$898$682$260
24 years$1,846$1,424$1,086$819$613$222
25 years$1,753$1,336$1,005$748$551$189
26 years$1,668$1,256$933$684$497$162
27 years$1,589$1,182$866$626$448$138
28 years$1,516$1,114$805$574$404$118
29 years$1,448$1,051$749$526$365$101
30 years$1,384$992$698$483$330$86
31 years$1,325$938$651$443$298$74
32 years$1,270$888$607$407$270$63
33 years$1,218$841$567$375$244$54
34 years$1,169$797$530$345$221$46
35 years$1,123$756$495$317$200$40
36 years$1,080$717$463$292$181$34
37 years$1,039$681$433$269$164$29
38 years$1,001$647$406$248$149$25
39 years$964$616$380$229$135$21
40 years$930$586$356$211$123$18
41 years$897$558$334$195$111$16
42 years$866$531$314$180$101$13
43 years$836$506$294$166$92$12
44 years$808$482$276$153$83$10
45 years$781$460$259$141$75$8
46 years$755$439$244$131$68$7
47 years$731$419$229$121$62$6
48 years$708$400$215$112$56$5
49 years$685$382$202$103$51$5
50 years$664$365$190$95$47$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $680,000, adding $5,787 every year, while hoping to spend $34,708 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: 31/44/25 Blend
61$680,000$680,000$680,000$680,000
62$755,329$719,289$708,749$772,786
63$795,444$717,605$695,563$784,947
64$838,487$714,676$680,772$794,549
65$884,720$710,403$664,286$804,185
66$934,432$704,682$646,010$813,881
67$987,937$697,405$625,844$823,669
68$1,045,583$688,455$603,687$833,587
69$1,107,751$677,707$579,428$843,680
70$1,174,858$665,032$552,956$854,001
71$1,247,366$650,290$524,152$864,614
72$1,325,778$633,335$492,892$875,590
73$1,410,650$614,011$459,046$887,015
74$1,502,593$592,154$422,481$898,986
75$1,602,278$567,590$383,055$911,617
76$1,710,443$540,135$340,620$925,036
77$1,827,900$509,593$295,022$939,391
78$1,955,542$475,759$246,102$954,850
79$2,094,350$438,415$193,690$971,605
80$2,245,407$397,331$137,611$989,875
81$2,409,901$352,262$77,684$1,009,905
82$2,589,140$302,952$13,715$1,031,974
83$2,784,565$249,129$0$1,056,398
84$2,997,760$190,506$0$1,098,084
85$3,230,469$126,779$0$1,147,729
86$3,484,614$57,627$0$1,202,179
87$3,762,307$0$0$1,262,000
88$4,065,876$0$0$1,336,192
89$4,397,883$0$0$1,447,949
90$4,761,150$0$0$1,570,333
91$5,158,783$0$0$1,704,403
92$5,594,202$0$0$1,851,325
93$6,071,174$0$0$2,012,386
94$6,593,847$0$0$2,189,000
95$7,166,791$0$0$2,382,726
96$7,795,037$0$0$2,595,281
97$8,484,127$0$0$2,828,557
98$9,240,165$0$0$3,084,636
99$10,069,874$0$0$3,365,814
100$10,980,661$0$0$3,674,618