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%18.8%
1 years$56,649$56,145$55,652$55,172$54,703$52,762
2 years$28,044$27,522$27,016$26,525$26,049$24,114
3 years$18,510$17,986$17,481$16,995$16,526$14,659
4 years$13,744$13,222$12,722$12,244$11,787$10,000
5 years$10,886$10,366$9,873$9,404$8,960$7,260
6 years$8,980$8,464$7,978$7,521$7,090$5,476
7 years$7,620$7,108$6,630$6,183$5,766$4,239
8 years$6,600$6,093$5,623$5,187$4,783$3,342
9 years$5,807$5,305$4,843$4,418$4,028$2,671
10 years$5,174$4,676$4,222$3,808$3,432$2,156
11 years$4,655$4,163$3,717$3,315$2,952$1,755
12 years$4,224$3,737$3,299$2,907$2,558$1,437
13 years$3,859$3,377$2,947$2,567$2,231$1,182
14 years$3,546$3,069$2,648$2,278$1,955$977
15 years$3,276$2,804$2,391$2,032$1,722$810
16 years$3,039$2,573$2,168$1,819$1,522$673
17 years$2,831$2,369$1,973$1,635$1,349$560
18 years$2,646$2,189$1,801$1,473$1,200$468
19 years$2,480$2,029$1,648$1,331$1,069$391
20 years$2,331$1,885$1,513$1,206$955$327
21 years$2,197$1,756$1,392$1,094$855$274
22 years$2,075$1,639$1,283$995$766$229
23 years$1,964$1,533$1,184$906$688$192
24 years$1,862$1,437$1,095$826$618$161
25 years$1,769$1,348$1,014$755$556$136
26 years$1,682$1,267$941$690$501$114
27 years$1,603$1,192$874$632$452$96
28 years$1,529$1,124$812$579$408$80
29 years$1,460$1,060$756$531$368$68
30 years$1,396$1,001$704$487$333$57
31 years$1,337$946$656$447$301$48
32 years$1,281$895$612$411$272$40
33 years$1,229$848$572$378$246$34
34 years$1,179$804$534$348$223$28
35 years$1,133$762$499$320$202$24
36 years$1,090$724$467$295$183$20
37 years$1,048$687$437$272$166$17
38 years$1,010$653$409$250$150$14
39 years$973$621$384$231$136$12
40 years$938$591$360$213$124$10
41 years$905$562$337$196$112$8
42 years$873$536$316$181$102$7
43 years$844$510$297$167$92$6
44 years$815$486$279$155$84$5
45 years$788$464$262$143$76$4
46 years$762$443$246$132$69$4
47 years$737$422$231$122$63$3
48 years$714$403$217$113$57$3
49 years$691$385$204$104$52$2
50 years$670$368$192$96$47$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $686,000, adding $5,369 every year, while hoping to spend $54,831 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: 67/25/8 Blend
61$686,000$686,000$686,000$686,000
62$761,510$725,152$714,519$811,040
63$780,844$702,345$680,116$821,809
64$800,313$676,582$642,722$826,488
65$819,872$647,662$602,180$830,151
66$839,471$615,369$558,325$832,689
67$859,051$579,477$510,984$833,987
68$878,549$539,745$459,976$833,920
69$897,889$495,921$405,113$832,349
70$916,989$447,736$346,200$829,128
71$935,753$394,907$283,029$824,095
72$954,076$337,134$215,387$817,076
73$971,839$274,100$143,049$807,882
74$988,907$205,472$65,782$796,307
75$1,005,132$130,896$0$782,128
76$1,020,346$50,000$0$766,526
77$1,034,360$0$0$753,899
78$1,046,968$0$0$748,711
79$1,057,935$0$0$756,043
80$1,067,002$0$0$761,948
81$1,073,881$0$0$766,212
82$1,078,250$0$0$768,597
83$1,079,751$0$0$768,839
84$1,077,989$0$0$766,643
85$1,072,522$0$0$761,685
86$1,062,862$0$0$753,601
87$1,048,466$0$0$741,990
88$1,028,733$0$0$726,409
89$1,002,997$0$0$706,363
90$970,520$0$0$681,307
91$930,485$0$0$650,636
92$881,987$0$0$613,682
93$824,025$0$0$569,704
94$755,490$0$0$517,883
95$675,159$0$0$457,314
96$581,677$0$0$386,995
97$473,545$0$0$305,819
98$349,109$0$0$212,562
99$206,538$0$0$105,873
100$43,814$0$0$0