Can I retire at age 62 with 687,000?

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 $687,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$56,732$56,226$55,733$55,252$54,782$53,654
2 years$28,085$27,562$27,055$26,564$26,087$24,955
3 years$18,537$18,012$17,506$17,020$16,551$15,451
4 years$13,764$13,241$12,740$12,262$11,804$10,745
5 years$10,901$10,381$9,887$9,418$8,973$7,958
6 years$8,993$8,477$7,990$7,532$7,100$6,129
7 years$7,631$7,119$6,640$6,192$5,774$4,848
8 years$6,610$6,102$5,631$5,195$4,790$3,909
9 years$5,816$5,313$4,850$4,425$4,034$3,196
10 years$5,181$4,683$4,228$3,814$3,437$2,643
11 years$4,662$4,169$3,723$3,319$2,956$2,204
12 years$4,230$3,742$3,304$2,912$2,562$1,850
13 years$3,864$3,382$2,952$2,570$2,234$1,562
14 years$3,552$3,074$2,652$2,282$1,958$1,325
15 years$3,281$2,808$2,394$2,035$1,724$1,128
16 years$3,044$2,576$2,171$1,822$1,524$963
17 years$2,835$2,373$1,975$1,637$1,351$824
18 years$2,649$2,192$1,803$1,475$1,201$708
19 years$2,484$2,032$1,651$1,333$1,071$608
20 years$2,335$1,888$1,515$1,207$956$524
21 years$2,200$1,759$1,394$1,096$856$452
22 years$2,078$1,642$1,284$996$767$390
23 years$1,967$1,535$1,186$907$689$337
24 years$1,865$1,439$1,097$828$619$291
25 years$1,771$1,350$1,016$756$557$252
26 years$1,685$1,269$942$691$502$218
27 years$1,605$1,194$875$633$452$189
28 years$1,531$1,125$813$580$408$164
29 years$1,462$1,062$757$531$369$142
30 years$1,398$1,003$705$488$333$123
31 years$1,339$948$657$448$301$107
32 years$1,283$897$613$412$272$93
33 years$1,230$849$573$379$246$81
34 years$1,181$805$535$348$223$70
35 years$1,135$763$500$321$202$61
36 years$1,091$725$468$295$183$53
37 years$1,050$688$438$272$166$46
38 years$1,011$654$410$251$150$40
39 years$974$622$384$231$136$35
40 years$939$592$360$213$124$30
41 years$906$563$338$197$112$26
42 years$875$536$317$182$102$23
43 years$845$511$297$168$92$20
44 years$816$487$279$155$84$17
45 years$789$465$262$143$76$15
46 years$763$443$246$132$69$13
47 years$739$423$231$122$63$11
48 years$715$404$217$113$57$10
49 years$692$386$204$104$52$9
50 years$671$368$192$96$47$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $687,000, adding $5,827 every year, while hoping to spend $42,280 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: 67/18/15 Blend
61$687,000$687,000$687,000$687,000
62$763,085$726,674$716,025$811,134
63$795,934$717,295$695,026$834,553
64$830,716$706,040$671,907$854,641
65$867,585$692,771$646,552$875,547
66$906,707$677,345$618,839$897,347
67$948,263$659,608$588,643$920,128
68$992,455$639,397$555,831$943,985
69$1,039,499$616,541$520,265$969,026
70$1,089,635$590,859$481,801$995,372
71$1,143,124$562,157$440,287$1,023,154
72$1,200,252$530,233$395,567$1,052,523
73$1,261,335$494,871$347,476$1,083,645
74$1,326,716$455,845$295,841$1,116,703
75$1,396,772$412,912$240,483$1,151,904
76$1,471,919$365,821$181,214$1,189,476
77$1,552,609$314,301$117,840$1,229,675
78$1,639,342$258,068$50,155$1,272,783
79$1,732,666$196,825$0$1,319,115
80$1,833,181$130,252$0$1,372,554
81$1,941,548$58,017$0$1,438,751
82$2,058,492$0$0$1,510,139
83$2,184,810$0$0$1,591,245
84$2,321,377$0$0$1,691,388
85$2,469,156$0$0$1,799,788
86$2,629,205$0$0$1,917,225
87$2,802,687$0$0$2,044,558
88$2,990,881$0$0$2,182,729
89$3,195,195$0$0$2,332,776
90$3,417,174$0$0$2,495,842
91$3,658,522$0$0$2,673,182
92$3,921,110$0$0$2,866,177
93$4,206,998$0$0$3,076,349
94$4,518,455$0$0$3,305,370
95$4,857,973$0$0$3,555,080
96$5,228,300$0$0$3,827,507
97$5,632,457$0$0$4,124,880
98$6,073,770$0$0$4,449,654
99$6,555,901$0$0$4,804,533
100$7,082,881$0$0$5,192,492