Can I retire at age 62 with 683,000?

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 $683,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$56,402$55,899$55,409$54,931$54,463$53,761
2 years$27,922$27,402$26,898$26,409$25,935$25,228
3 years$18,429$17,907$17,404$16,920$16,454$15,765
4 years$13,684$13,164$12,666$12,190$11,735$11,069
5 years$10,838$10,320$9,829$9,363$8,921$8,280
6 years$8,941$8,427$7,944$7,488$7,059$6,443
7 years$7,587$7,077$6,601$6,156$5,741$5,151
8 years$6,571$6,067$5,598$5,164$4,762$4,199
9 years$5,782$5,282$4,822$4,399$4,011$3,473
10 years$5,151$4,656$4,204$3,792$3,417$2,905
11 years$4,635$4,145$3,701$3,300$2,939$2,451
12 years$4,205$3,720$3,284$2,895$2,547$2,083
13 years$3,842$3,362$2,934$2,555$2,221$1,781
14 years$3,531$3,056$2,637$2,268$1,947$1,530
15 years$3,261$2,792$2,381$2,023$1,714$1,319
16 years$3,026$2,561$2,158$1,811$1,515$1,142
17 years$2,818$2,359$1,964$1,628$1,343$991
18 years$2,634$2,180$1,793$1,467$1,194$862
19 years$2,469$2,020$1,641$1,325$1,065$752
20 years$2,321$1,877$1,506$1,200$951$656
21 years$2,188$1,749$1,385$1,089$851$574
22 years$2,066$1,632$1,277$991$763$503
23 years$1,955$1,527$1,179$902$685$441
24 years$1,854$1,430$1,090$823$615$387
25 years$1,761$1,342$1,010$751$554$340
26 years$1,675$1,261$937$687$499$299
27 years$1,596$1,187$870$629$450$263
28 years$1,522$1,119$809$576$406$232
29 years$1,454$1,055$752$528$366$204
30 years$1,390$997$701$485$331$180
31 years$1,331$942$653$445$299$159
32 years$1,275$892$610$409$271$140
33 years$1,223$844$569$376$245$123
34 years$1,174$800$532$346$222$109
35 years$1,128$759$497$319$201$96
36 years$1,085$720$465$294$182$85
37 years$1,044$684$435$271$165$75
38 years$1,005$650$408$249$150$66
39 years$968$618$382$230$136$58
40 years$934$588$358$212$123$52
41 years$901$560$336$196$112$46
42 years$870$533$315$181$101$40
43 years$840$508$296$167$92$36
44 years$812$484$277$154$83$31
45 years$785$462$260$142$76$28
46 years$759$441$245$131$69$25
47 years$734$420$230$121$62$22
48 years$711$401$216$112$57$19
49 years$688$383$203$104$52$17
50 years$667$366$191$96$47$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $683,000, adding $5,692 every year, while hoping to spend $27,386 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: 84/6/10 Blend
61$683,000$683,000$683,000$683,000
62$758,537$722,338$711,752$820,646
63$806,770$728,594$706,457$868,360
64$859,004$734,239$700,067$916,492
65$915,619$739,214$692,516$968,519
66$977,032$743,455$683,736$1,024,818
67$1,043,703$746,898$673,654$1,085,800
68$1,116,134$749,470$662,195$1,151,922
69$1,194,882$751,096$649,280$1,223,683
70$1,280,556$751,696$634,828$1,301,636
71$1,373,829$751,185$618,750$1,386,388
72$1,475,439$749,472$600,958$1,478,608
73$1,586,200$746,463$581,357$1,579,034
74$1,707,007$742,054$559,847$1,688,477
75$1,838,846$736,138$536,325$1,807,832
76$1,982,800$728,601$510,684$1,938,086
77$2,140,063$719,321$482,810$2,080,323
78$2,311,951$708,169$452,586$2,235,741
79$2,499,910$695,009$419,887$2,405,658
80$2,705,533$679,696$384,585$2,591,525
81$2,930,575$662,079$346,546$2,794,944
82$3,176,966$641,994$305,628$3,017,679
83$3,446,835$619,270$261,685$3,261,671
84$3,742,524$593,726$214,563$3,529,064
85$4,066,613$565,169$164,103$3,822,216
86$4,421,942$533,398$110,135$4,143,727
87$4,811,643$498,197$52,487$4,496,464
88$5,239,160$459,338$0$4,883,583
89$5,708,292$416,583$0$5,309,528
90$6,223,219$369,676$0$5,783,210
91$6,788,548$318,351$0$6,303,269
92$7,409,353$262,324$0$6,874,385
93$8,091,224$201,295$0$7,501,713
94$8,840,318$134,948$0$8,190,932
95$9,663,420$62,950$0$8,948,302
96$10,568,002$0$0$9,780,718
97$11,562,297$0$0$10,696,770
98$12,655,375$0$0$11,708,415
99$13,857,229$0$0$12,820,746
100$15,178,870$0$0$14,043,954