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%11.3%
1 years$57,062$56,554$56,058$55,574$55,101$54,800
2 years$28,249$27,722$27,213$26,718$26,239$25,935
3 years$18,645$18,117$17,608$17,119$16,647$16,350
4 years$13,845$13,318$12,814$12,333$11,873$11,584
5 years$10,965$10,441$9,944$9,473$9,025$8,747
6 years$9,046$8,526$8,037$7,576$7,142$6,873
7 years$7,676$7,160$6,678$6,228$5,808$5,550
8 years$6,648$6,138$5,664$5,225$4,818$4,571
9 years$5,850$5,344$4,878$4,450$4,058$3,820
10 years$5,211$4,710$4,253$3,836$3,457$3,230
11 years$4,689$4,193$3,744$3,339$2,973$2,756
12 years$4,255$3,764$3,323$2,928$2,577$2,369
13 years$3,887$3,401$2,969$2,585$2,247$2,049
14 years$3,572$3,092$2,668$2,295$1,970$1,781
15 years$3,300$2,824$2,408$2,047$1,734$1,555
16 years$3,061$2,591$2,184$1,833$1,533$1,362
17 years$2,851$2,386$1,987$1,647$1,359$1,197
18 years$2,665$2,205$1,814$1,484$1,208$1,055
19 years$2,498$2,044$1,660$1,341$1,077$932
20 years$2,348$1,899$1,524$1,214$962$825
21 years$2,213$1,769$1,402$1,102$861$731
22 years$2,090$1,651$1,292$1,002$772$649
23 years$1,978$1,544$1,193$913$693$577
24 years$1,876$1,447$1,103$832$623$514
25 years$1,782$1,358$1,022$760$560$458
26 years$1,695$1,276$948$695$505$408
27 years$1,614$1,201$880$636$455$364
28 years$1,540$1,132$818$583$411$325
29 years$1,471$1,068$761$535$371$291
30 years$1,407$1,008$709$491$335$260
31 years$1,346$953$661$451$303$233
32 years$1,290$902$617$414$274$208
33 years$1,237$854$576$381$248$186
34 years$1,188$810$538$350$224$167
35 years$1,141$768$503$323$203$150
36 years$1,097$729$471$297$184$134
37 years$1,056$692$440$274$167$120
38 years$1,017$658$412$252$151$108
39 years$980$626$386$233$137$97
40 years$945$595$362$215$124$87
41 years$911$567$340$198$113$78
42 years$880$540$319$183$102$70
43 years$850$514$299$169$93$63
44 years$821$490$281$156$84$56
45 years$794$467$264$144$77$50
46 years$768$446$247$133$70$45
47 years$743$425$233$123$63$41
48 years$719$406$218$113$57$37
49 years$696$388$205$105$52$33
50 years$675$370$193$97$47$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $691,000, adding $4,068 every year, while hoping to spend $55,221 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: 72/16/12 Blend
61$691,000$691,000$691,000$691,000
62$765,678$729,055$718,345$818,615
63$785,023$706,024$683,654$831,166
64$804,489$680,014$645,951$837,728
65$824,033$650,820$605,076$843,428
66$843,600$618,226$560,862$848,168
67$863,133$582,004$513,136$851,840
68$882,562$541,912$461,716$854,329
69$901,812$497,695$406,412$855,507
70$920,796$449,081$347,026$855,235
71$939,417$395,786$283,351$853,364
72$957,565$337,507$215,171$849,728
73$975,118$273,926$142,261$844,150
74$991,937$204,706$64,384$836,435
75$1,007,869$129,490$0$826,369
76$1,022,740$47,904$0$816,118
77$1,036,359$0$0$811,987
78$1,048,509$0$0$812,604
79$1,058,952$0$0$820,281
80$1,067,420$0$0$826,372
81$1,073,616$0$0$830,640
82$1,077,210$0$0$832,823
83$1,077,834$0$0$832,629
84$1,075,080$0$0$829,733
85$1,068,495$0$0$823,776
86$1,057,577$0$0$814,357
87$1,041,769$0$0$801,033
88$1,020,452$0$0$783,315
89$992,942$0$0$760,657
90$958,480$0$0$732,458
91$916,228$0$0$698,050
92$865,256$0$0$656,696
93$804,535$0$0$607,577
94$732,927$0$0$549,792
95$649,176$0$0$482,340
96$551,888$0$0$404,117
97$439,526$0$0$313,901
98$310,391$0$0$210,342
99$162,605$0$0$91,951
100$0$0$0$0