Can I retire at age 62 with 690,000?

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 $690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$56,980$56,472$55,977$55,494$55,022$53,933
2 years$28,208$27,682$27,173$26,680$26,201$25,108
3 years$18,618$18,091$17,583$17,094$16,623$15,561
4 years$13,825$13,299$12,796$12,315$11,856$10,832
5 years$10,949$10,426$9,930$9,459$9,012$8,031
6 years$9,033$8,514$8,025$7,565$7,131$6,192
7 years$7,664$7,150$6,669$6,219$5,800$4,904
8 years$6,639$6,129$5,656$5,217$4,811$3,958
9 years$5,841$5,336$4,871$4,444$4,052$3,241
10 years$5,204$4,704$4,247$3,831$3,452$2,682
11 years$4,682$4,187$3,739$3,334$2,969$2,240
12 years$4,248$3,758$3,318$2,924$2,573$1,883
13 years$3,881$3,396$2,965$2,582$2,244$1,592
14 years$3,567$3,087$2,664$2,292$1,967$1,352
15 years$3,295$2,820$2,405$2,044$1,732$1,152
16 years$3,057$2,588$2,180$1,830$1,531$985
17 years$2,847$2,383$1,984$1,644$1,357$845
18 years$2,661$2,202$1,811$1,482$1,207$726
19 years$2,495$2,041$1,658$1,339$1,075$625
20 years$2,345$1,896$1,522$1,213$961$539
21 years$2,210$1,766$1,400$1,101$860$466
22 years$2,087$1,649$1,290$1,001$771$402
23 years$1,975$1,542$1,191$911$692$348
24 years$1,873$1,445$1,102$831$622$302
25 years$1,779$1,356$1,020$759$559$262
26 years$1,692$1,274$946$694$504$227
27 years$1,612$1,199$879$635$454$197
28 years$1,538$1,130$817$582$410$171
29 years$1,469$1,066$760$534$370$149
30 years$1,405$1,007$708$490$334$129
31 years$1,345$952$660$450$302$112
32 years$1,288$901$616$413$274$98
33 years$1,236$853$575$380$248$85
34 years$1,186$808$537$350$224$74
35 years$1,140$767$502$322$203$64
36 years$1,096$728$470$297$184$56
37 years$1,055$691$440$273$167$49
38 years$1,015$657$412$252$151$42
39 years$978$625$386$232$137$37
40 years$943$594$362$214$124$32
41 years$910$566$339$198$113$28
42 years$878$539$318$182$102$24
43 years$848$513$299$168$93$21
44 years$820$489$280$155$84$18
45 years$793$467$263$144$77$16
46 years$767$445$247$133$69$14
47 years$742$425$232$123$63$12
48 years$718$406$218$113$57$11
49 years$695$387$205$105$52$9
50 years$674$370$193$97$47$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $690,000, adding $3,938 every year, while hoping to spend $28,622 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: 43/37/20 Blend
61$690,000$690,000$690,000$690,000
62$764,442$727,872$717,177$792,709
63$811,962$733,084$710,749$818,292
64$863,369$737,592$703,146$842,896
65$919,030$741,332$694,299$868,962
66$979,348$744,234$684,135$896,640
67$1,044,766$746,226$672,578$926,095
68$1,115,770$747,229$659,547$957,512
69$1,192,896$747,161$644,960$991,094
70$1,276,734$745,935$628,729$1,027,070
71$1,367,932$743,456$610,762$1,065,691
72$1,467,202$739,626$590,963$1,107,237
73$1,575,329$734,341$569,233$1,152,018
74$1,693,178$727,489$545,468$1,200,380
75$1,821,697$718,951$519,556$1,252,703
76$1,961,934$708,604$491,385$1,309,413
77$2,115,040$696,313$460,835$1,370,977
78$2,282,281$681,940$427,780$1,437,916
79$2,465,053$665,335$392,090$1,510,808
80$2,664,893$646,340$353,629$1,590,290
81$2,883,491$624,790$312,255$1,677,069
82$3,122,709$600,507$267,818$1,771,931
83$3,384,599$573,305$220,163$1,875,740
84$3,671,417$542,986$169,127$1,989,458
85$3,985,651$509,341$114,543$2,114,146
86$4,330,039$472,151$56,231$2,250,980
87$4,707,597$431,180$0$2,401,261
88$5,121,646$386,182$0$2,567,706
89$5,575,845$336,897$0$2,763,516
90$6,074,225$283,047$0$2,978,481
91$6,621,222$224,343$0$3,214,591
92$7,221,727$160,477$0$3,474,042
93$7,881,126$91,123$0$3,759,261
94$8,605,351$15,938$0$4,072,925
95$9,400,938$0$0$4,417,991
96$10,275,087$0$0$4,824,364
97$11,235,730$0$0$5,278,170
98$12,291,604$0$0$5,777,058
99$13,452,338$0$0$6,325,588
100$14,728,536$0$0$6,928,786