Can I retire at age 62 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$57,062$56,554$56,058$55,574$55,101$54,368
2 years$28,249$27,722$27,213$26,718$26,239$25,501
3 years$18,645$18,117$17,608$17,119$16,647$15,928
4 years$13,845$13,318$12,814$12,333$11,873$11,178
5 years$10,965$10,441$9,944$9,473$9,025$8,356
6 years$9,046$8,526$8,037$7,576$7,142$6,500
7 years$7,676$7,160$6,678$6,228$5,808$5,193
8 years$6,648$6,138$5,664$5,225$4,818$4,231
9 years$5,850$5,344$4,878$4,450$4,058$3,497
10 years$5,211$4,710$4,253$3,836$3,457$2,923
11 years$4,689$4,193$3,744$3,339$2,973$2,465
12 years$4,255$3,764$3,323$2,928$2,577$2,094
13 years$3,887$3,401$2,969$2,585$2,247$1,789
14 years$3,572$3,092$2,668$2,295$1,970$1,536
15 years$3,300$2,824$2,408$2,047$1,734$1,324
16 years$3,061$2,591$2,184$1,833$1,533$1,145
17 years$2,851$2,386$1,987$1,647$1,359$993
18 years$2,665$2,205$1,814$1,484$1,208$863
19 years$2,498$2,044$1,660$1,341$1,077$752
20 years$2,348$1,899$1,524$1,214$962$656
21 years$2,213$1,769$1,402$1,102$861$573
22 years$2,090$1,651$1,292$1,002$772$502
23 years$1,978$1,544$1,193$913$693$440
24 years$1,876$1,447$1,103$832$623$386
25 years$1,782$1,358$1,022$760$560$339
26 years$1,695$1,276$948$695$505$298
27 years$1,614$1,201$880$636$455$262
28 years$1,540$1,132$818$583$411$230
29 years$1,471$1,068$761$535$371$203
30 years$1,407$1,008$709$491$335$178
31 years$1,346$953$661$451$303$157
32 years$1,290$902$617$414$274$138
33 years$1,237$854$576$381$248$122
34 years$1,188$810$538$350$224$108
35 years$1,141$768$503$323$203$95
36 years$1,097$729$471$297$184$84
37 years$1,056$692$440$274$167$74
38 years$1,017$658$412$252$151$65
39 years$980$626$386$233$137$57
40 years$945$595$362$215$124$51
41 years$911$567$340$198$113$45
42 years$880$540$319$183$102$40
43 years$850$514$299$169$93$35
44 years$821$490$281$156$84$31
45 years$794$467$264$144$77$27
46 years$768$446$247$133$70$24
47 years$743$425$233$123$63$21
48 years$719$406$218$113$57$19
49 years$696$388$205$105$52$17
50 years$675$370$193$97$47$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $691,000, adding $5,590 every year, while hoping to spend $35,963 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: 84/6/10 Blend
61$691,000$691,000$691,000$691,000
62$767,248$730,625$719,915$830,085
63$807,243$728,161$705,767$869,539
64$850,112$724,372$689,941$907,459
65$896,111$719,153$672,341$948,006
66$945,518$712,396$652,869$991,422
67$998,643$703,985$631,422$1,037,974
68$1,055,822$693,797$607,892$1,087,956
69$1,117,425$681,703$582,166$1,141,690
70$1,183,861$667,564$554,126$1,199,534
71$1,255,575$651,235$523,649$1,261,878
72$1,333,059$632,561$490,607$1,329,156
73$1,416,853$611,379$454,865$1,401,842
74$1,507,550$587,515$416,281$1,480,460
75$1,605,803$560,786$374,710$1,565,588
76$1,712,330$530,999$329,997$1,657,862
77$1,827,918$497,949$281,982$1,757,983
78$1,953,435$461,418$230,498$1,866,723
79$2,089,836$421,178$175,370$1,984,933
80$2,238,170$376,986$116,416$2,113,551
81$2,399,592$328,587$53,444$2,253,609
82$2,575,372$275,710$0$2,406,247
83$2,766,910$218,069$0$2,574,189
84$2,975,743$155,363$0$2,763,529
85$3,203,565$87,272$0$2,970,107
86$3,452,240$13,460$0$3,195,628
87$3,723,820$0$0$3,441,968
88$4,020,564$0$0$3,715,581
89$4,344,959$0$0$4,015,672
90$4,699,742$0$0$4,343,888
91$5,087,929$0$0$4,703,017
92$5,512,839$0$0$5,096,134
93$5,978,126$0$0$5,526,621
94$6,487,816$0$0$5,998,204
95$7,046,343$0$0$6,514,986
96$7,658,587$0$0$7,081,487
97$8,329,926$0$0$7,702,683
98$9,066,281$0$0$8,384,055
99$9,874,177$0$0$9,131,642
100$10,760,796$0$0$9,952,094