Can I retire at age 62 with 684,000?

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 $684,000?

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 years$56,484$55,981$55,490$55,011$54,543$53,862
2 years$27,962$27,442$26,937$26,448$25,973$25,287
3 years$18,456$17,933$17,430$16,945$16,478$15,810
4 years$13,704$13,183$12,685$12,208$11,752$11,106
5 years$10,854$10,336$9,844$9,377$8,934$8,312
6 years$8,954$8,440$7,955$7,499$7,069$6,472
7 years$7,598$7,088$6,611$6,165$5,749$5,177
8 years$6,581$6,075$5,606$5,172$4,769$4,222
9 years$5,790$5,290$4,829$4,405$4,017$3,494
10 years$5,158$4,663$4,210$3,797$3,422$2,924
11 years$4,642$4,151$3,706$3,305$2,943$2,469
12 years$4,211$3,726$3,289$2,899$2,551$2,100
13 years$3,848$3,367$2,939$2,559$2,224$1,796
14 years$3,536$3,060$2,640$2,272$1,950$1,544
15 years$3,266$2,796$2,384$2,026$1,717$1,333
16 years$3,030$2,565$2,161$1,814$1,517$1,154
17 years$2,823$2,362$1,967$1,630$1,345$1,002
18 years$2,638$2,183$1,795$1,469$1,196$873
19 years$2,473$2,023$1,644$1,327$1,066$761
20 years$2,325$1,880$1,508$1,202$952$665
21 years$2,191$1,751$1,388$1,091$852$582
22 years$2,069$1,635$1,279$992$764$511
23 years$1,958$1,529$1,181$903$686$448
24 years$1,857$1,432$1,092$824$616$394
25 years$1,763$1,344$1,011$752$555$346
26 years$1,678$1,263$938$688$500$305
27 years$1,598$1,189$871$630$450$268
28 years$1,524$1,120$810$577$406$236
29 years$1,456$1,057$754$529$367$208
30 years$1,392$998$702$486$332$184
31 years$1,333$944$654$446$300$162
32 years$1,277$893$611$410$271$143
33 years$1,225$846$570$377$245$126
34 years$1,176$801$533$347$222$112
35 years$1,130$760$498$319$201$99
36 years$1,086$721$466$294$182$87
37 years$1,045$685$436$271$165$77
38 years$1,007$651$408$250$150$68
39 years$970$619$383$230$136$60
40 years$935$589$359$212$123$53
41 years$902$561$336$196$112$47
42 years$871$534$315$181$101$42
43 years$841$509$296$167$92$37
44 years$813$485$278$154$84$32
45 years$786$463$261$142$76$29
46 years$760$441$245$131$69$25
47 years$735$421$230$121$63$22
48 years$712$402$216$112$57$20
49 years$689$384$203$104$52$18
50 years$668$367$191$96$47$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $684,000, adding $3,457 every year, while hoping to spend $44,613 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: 57/13/30 Blend
61$684,000$684,000$684,000$684,000
62$757,334$721,082$710,480$794,064
63$787,114$708,947$686,813$807,583
64$818,437$694,722$660,858$817,382
65$851,412$678,258$632,491$827,169
66$886,159$659,396$601,584$836,959
67$922,810$637,970$567,999$846,769
68$961,507$613,800$531,597$856,619
69$1,002,404$586,700$492,229$866,537
70$1,045,672$556,471$449,742$876,554
71$1,091,495$522,903$403,973$886,708
72$1,140,077$485,774$354,755$897,043
73$1,191,637$444,849$301,911$907,612
74$1,246,416$399,879$245,258$918,476
75$1,304,681$350,603$184,604$929,706
76$1,366,719$296,743$119,749$941,383
77$1,432,847$238,007$50,483$953,601
78$1,503,412$174,084$0$966,470
79$1,578,793$104,647$0$987,614
80$1,659,408$29,353$0$1,027,405
81$1,745,712$0$0$1,069,903
82$1,838,206$0$0$1,122,831
83$1,937,439$0$0$1,184,161
84$2,044,013$0$0$1,250,070
85$2,158,590$0$0$1,320,974
86$2,281,895$0$0$1,397,327
87$2,414,726$0$0$1,479,629
88$2,557,959$0$0$1,568,429
89$2,712,554$0$0$1,664,329
90$2,879,569$0$0$1,767,993
91$3,060,166$0$0$1,880,148
92$3,255,620$0$0$2,001,595
93$3,467,334$0$0$2,133,215
94$3,696,853$0$0$2,275,975
95$3,945,871$0$0$2,430,939
96$4,216,256$0$0$2,599,278
97$4,510,058$0$0$2,782,280
98$4,829,537$0$0$2,981,361
99$5,177,175$0$0$3,198,080
100$5,555,705$0$0$3,434,152