Can I retire at age 62 with 686,000?

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 $686,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$56,649$56,145$55,652$55,172$54,703$53,907
2 years$28,044$27,522$27,016$26,525$26,049$25,249
3 years$18,510$17,986$17,481$16,995$16,526$15,748
4 years$13,744$13,222$12,722$12,244$11,787$11,034
5 years$10,886$10,366$9,873$9,404$8,960$8,237
6 years$8,980$8,464$7,978$7,521$7,090$6,396
7 years$7,620$7,108$6,630$6,183$5,766$5,102
8 years$6,600$6,093$5,623$5,187$4,783$4,149
9 years$5,807$5,305$4,843$4,418$4,028$3,423
10 years$5,174$4,676$4,222$3,808$3,432$2,856
11 years$4,655$4,163$3,717$3,315$2,952$2,404
12 years$4,224$3,737$3,299$2,907$2,558$2,038
13 years$3,859$3,377$2,947$2,567$2,231$1,738
14 years$3,546$3,069$2,648$2,278$1,955$1,489
15 years$3,276$2,804$2,391$2,032$1,722$1,281
16 years$3,039$2,573$2,168$1,819$1,522$1,105
17 years$2,831$2,369$1,973$1,635$1,349$956
18 years$2,646$2,189$1,801$1,473$1,200$830
19 years$2,480$2,029$1,648$1,331$1,069$721
20 years$2,331$1,885$1,513$1,206$955$628
21 years$2,197$1,756$1,392$1,094$855$548
22 years$2,075$1,639$1,283$995$766$478
23 years$1,964$1,533$1,184$906$688$418
24 years$1,862$1,437$1,095$826$618$366
25 years$1,769$1,348$1,014$755$556$320
26 years$1,682$1,267$941$690$501$281
27 years$1,603$1,192$874$632$452$246
28 years$1,529$1,124$812$579$408$216
29 years$1,460$1,060$756$531$368$190
30 years$1,396$1,001$704$487$333$167
31 years$1,337$946$656$447$301$146
32 years$1,281$895$612$411$272$129
33 years$1,229$848$572$378$246$113
34 years$1,179$804$534$348$223$100
35 years$1,133$762$499$320$202$88
36 years$1,090$724$467$295$183$77
37 years$1,048$687$437$272$166$68
38 years$1,010$653$409$250$150$60
39 years$973$621$384$231$136$53
40 years$938$591$360$213$124$46
41 years$905$562$337$196$112$41
42 years$873$536$316$181$102$36
43 years$844$510$297$167$92$32
44 years$815$486$279$155$84$28
45 years$788$464$262$143$76$24
46 years$762$443$246$132$69$22
47 years$737$422$231$122$63$19
48 years$714$403$217$113$57$17
49 years$691$385$204$104$52$15
50 years$670$368$192$96$47$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $686,000, adding $5,794 every year, while hoping to spend $45,668 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: 40/36/24 Blend
61$686,000$686,000$686,000$686,000
62$761,949$725,591$714,958$786,820
63$791,077$712,554$690,318$792,252
64$821,646$697,348$663,323$793,391
65$853,754$679,818$633,844$793,717
66$887,508$659,801$601,750$793,184
67$923,026$637,123$566,900$791,744
68$960,434$611,601$529,150$789,347
69$999,870$583,042$488,349$785,943
70$1,041,484$551,239$444,336$781,483
71$1,085,442$515,976$396,948$775,915
72$1,131,922$477,023$346,011$769,189
73$1,181,119$434,139$291,343$761,255
74$1,233,248$387,066$232,757$752,064
75$1,288,540$335,533$170,056$741,567
76$1,347,252$279,255$103,033$729,717
77$1,409,661$217,928$31,475$716,471
78$1,476,074$151,234$0$701,786
79$1,546,823$78,834$0$697,120
80$1,622,275$373$0$700,293
81$1,702,830$0$0$703,269
82$1,788,926$0$0$739,577
83$1,881,045$0$0$778,640
84$1,979,714$0$0$820,542
85$2,085,512$0$0$865,536
86$2,199,073$0$0$913,900
87$2,321,093$0$0$965,940
88$2,452,338$0$0$1,021,991
89$2,593,646$0$0$1,082,421
90$2,745,939$0$0$1,147,635
91$2,910,230$0$0$1,218,077
92$3,087,631$0$0$1,294,236
93$3,279,364$0$0$1,376,648
94$3,486,774$0$0$1,465,904
95$3,711,336$0$0$1,562,652
96$3,954,674$0$0$1,667,606
97$4,218,573$0$0$1,781,551
98$4,504,997$0$0$1,905,350
99$4,816,103$0$0$2,039,951
100$5,154,268$0$0$2,186,400