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%17.1%
1 years$56,154$55,654$55,166$54,689$54,224$52,657
2 years$27,799$27,281$26,779$26,293$25,821$24,255
3 years$18,349$17,829$17,328$16,846$16,382$14,866
4 years$13,624$13,106$12,610$12,137$11,684$10,229
5 years$10,790$10,275$9,786$9,322$8,882$7,492
6 years$8,902$8,390$7,909$7,455$7,028$5,705
7 years$7,553$7,046$6,572$6,129$5,716$4,459
8 years$6,542$6,040$5,574$5,142$4,742$3,551
9 years$5,757$5,259$4,801$4,379$3,993$2,868
10 years$5,128$4,635$4,185$3,775$3,402$2,340
11 years$4,615$4,127$3,685$3,286$2,926$1,925
12 years$4,187$3,704$3,270$2,882$2,536$1,594
13 years$3,825$3,347$2,922$2,544$2,211$1,327
14 years$3,515$3,043$2,625$2,258$1,938$1,109
15 years$3,247$2,779$2,370$2,014$1,707$931
16 years$3,013$2,550$2,149$1,803$1,508$783
17 years$2,806$2,348$1,955$1,620$1,337$660
18 years$2,622$2,170$1,785$1,460$1,189$558
19 years$2,459$2,011$1,634$1,320$1,060$472
20 years$2,311$1,869$1,500$1,195$947$400
21 years$2,178$1,741$1,379$1,085$847$339
22 years$2,057$1,625$1,271$986$759$288
23 years$1,947$1,520$1,174$898$682$245
24 years$1,846$1,424$1,086$819$613$208
25 years$1,753$1,336$1,005$748$551$177
26 years$1,668$1,256$933$684$497$151
27 years$1,589$1,182$866$626$448$129
28 years$1,516$1,114$805$574$404$110
29 years$1,448$1,051$749$526$365$93
30 years$1,384$992$698$483$330$80
31 years$1,325$938$651$443$298$68
32 years$1,270$888$607$407$270$58
33 years$1,218$841$567$375$244$49
34 years$1,169$797$530$345$221$42
35 years$1,123$756$495$317$200$36
36 years$1,080$717$463$292$181$31
37 years$1,039$681$433$269$164$26
38 years$1,001$647$406$248$149$22
39 years$964$616$380$229$135$19
40 years$930$586$356$211$123$16
41 years$897$558$334$195$111$14
42 years$866$531$314$180$101$12
43 years$836$506$294$166$92$10
44 years$808$482$276$153$83$9
45 years$781$460$259$141$75$7
46 years$755$439$244$131$68$6
47 years$731$419$229$121$62$5
48 years$708$400$215$112$56$5
49 years$685$382$202$103$51$4
50 years$664$365$190$95$47$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $680,000, adding $5,674 every year, while hoping to spend $45,311 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: 35/44/21 Blend
61$680,000$680,000$680,000$680,000
62$755,213$719,173$708,633$776,649
63$784,034$706,202$684,161$779,943
64$814,276$691,076$657,352$778,905
65$846,037$673,643$628,077$776,856
66$879,421$653,740$596,206$773,733
67$914,544$631,196$561,601$769,470
68$951,530$605,827$524,117$764,002
69$990,515$577,442$483,604$757,258
70$1,031,648$545,836$439,905$749,169
71$1,075,089$510,795$392,855$739,660
72$1,121,015$472,091$342,283$728,659
73$1,169,618$429,483$288,009$716,088
74$1,221,107$382,716$229,845$701,872
75$1,275,712$331,521$167,597$685,931
76$1,333,684$275,615$101,061$668,188
77$1,395,296$214,697$30,023$648,562
78$1,460,848$148,449$0$626,976
79$1,530,668$76,536$0$613,610
80$1,605,116$0$0$605,974
81$1,684,584$0$0$597,987
82$1,769,504$0$0$629,110
83$1,860,348$0$0$662,467
84$1,957,635$0$0$698,256
85$2,061,932$0$0$736,694
86$2,173,863$0$0$778,020
87$2,294,111$0$0$822,496
88$2,423,429$0$0$870,410
89$2,562,639$0$0$922,078
90$2,712,647$0$0$977,846
91$2,874,447$0$0$1,038,098
92$3,049,132$0$0$1,103,250
93$3,237,902$0$0$1,173,766
94$3,442,076$0$0$1,250,150
95$3,663,103$0$0$1,332,961
96$3,902,579$0$0$1,422,809
97$4,162,254$0$0$1,520,370
98$4,444,058$0$0$1,626,384
99$4,750,109$0$0$1,741,666
100$5,082,739$0$0$1,867,112