Can I retire at age 62 with 692,000?

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 $692,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$57,145$56,636$56,139$55,654$55,181$53,979
2 years$28,289$27,763$27,252$26,757$26,277$25,071
3 years$18,672$18,143$17,634$17,143$16,671$15,500
4 years$13,865$13,337$12,833$12,351$11,890$10,763
5 years$10,981$10,456$9,959$9,487$9,039$7,958
6 years$9,059$8,539$8,048$7,587$7,152$6,120
7 years$7,687$7,171$6,688$6,237$5,816$4,833
8 years$6,658$6,147$5,672$5,232$4,825$3,889
9 years$5,858$5,352$4,885$4,457$4,064$3,175
10 years$5,219$4,717$4,259$3,842$3,462$2,620
11 years$4,696$4,199$3,750$3,344$2,978$2,180
12 years$4,261$3,769$3,328$2,933$2,580$1,827
13 years$3,893$3,406$2,973$2,589$2,250$1,539
14 years$3,577$3,096$2,671$2,298$1,973$1,303
15 years$3,304$2,828$2,412$2,050$1,737$1,107
16 years$3,066$2,595$2,187$1,835$1,535$943
17 years$2,856$2,390$1,990$1,649$1,361$806
18 years$2,669$2,208$1,816$1,486$1,210$690
19 years$2,502$2,047$1,663$1,343$1,079$592
20 years$2,352$1,902$1,526$1,216$963$508
21 years$2,216$1,772$1,404$1,104$862$437
22 years$2,093$1,654$1,294$1,004$773$377
23 years$1,981$1,547$1,195$914$694$325
24 years$1,878$1,449$1,105$834$624$280
25 years$1,784$1,360$1,023$761$561$242
26 years$1,697$1,278$949$696$505$209
27 years$1,617$1,203$881$637$456$181
28 years$1,542$1,133$819$584$411$156
29 years$1,473$1,069$762$535$371$135
30 years$1,409$1,010$710$491$335$117
31 years$1,348$955$662$451$303$101
32 years$1,292$903$618$415$274$88
33 years$1,239$855$577$381$248$76
34 years$1,190$811$539$351$225$66
35 years$1,143$769$504$323$204$57
36 years$1,099$730$471$297$184$49
37 years$1,058$693$441$274$167$43
38 years$1,018$659$413$253$152$37
39 years$981$626$387$233$137$32
40 years$946$596$363$215$125$28
41 years$913$567$340$198$113$24
42 years$881$540$319$183$103$21
43 years$851$515$299$169$93$18
44 years$822$491$281$156$85$16
45 years$795$468$264$144$77$14
46 years$769$446$248$133$70$12
47 years$744$426$233$123$63$10
48 years$720$407$219$114$57$9
49 years$697$388$206$105$52$8
50 years$676$371$193$97$47$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $692,000, adding $4,606 every year, while hoping to spend $21,728 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: 29/44/27 Blend
61$692,000$692,000$692,000$692,000
62$767,335$730,659$719,933$783,076
63$822,485$743,343$720,932$808,511
64$882,532$755,920$721,237$833,635
65$947,952$768,362$720,801$860,208
66$1,019,271$780,639$719,575$888,371
67$1,097,064$792,719$717,509$918,279
68$1,181,968$804,566$714,549$950,105
69$1,274,683$816,143$710,640$984,038
70$1,375,976$827,410$705,722$1,020,291
71$1,486,697$838,324$699,735$1,059,097
72$1,607,778$848,840$692,614$1,100,714
73$1,740,247$858,909$684,292$1,145,432
74$1,885,235$868,478$674,698$1,193,566
75$2,043,986$877,491$663,759$1,245,469
76$2,217,875$885,890$651,396$1,301,531
77$2,408,409$893,610$637,529$1,362,181
78$2,617,254$900,584$622,074$1,427,898
79$2,846,242$906,740$604,941$1,499,208
80$3,097,391$912,002$586,038$1,576,696
81$3,372,922$916,288$565,269$1,661,008
82$3,675,286$919,512$542,530$1,752,856
83$4,007,177$921,580$517,718$1,853,032
84$4,371,567$922,396$490,719$1,962,408
85$4,771,729$921,855$461,420$2,081,950
86$5,211,266$919,847$429,698$2,212,725
87$5,694,150$916,254$395,428$2,355,914
88$6,224,755$910,952$358,476$2,512,818
89$6,807,900$903,809$318,706$2,684,880
90$7,448,895$894,685$275,972$2,873,692
91$8,153,590$883,431$230,124$3,081,012
92$8,928,427$869,891$181,005$3,308,782
93$9,780,508$853,897$128,450$3,559,151
94$10,717,655$835,273$72,288$3,834,488
95$11,748,486$813,832$12,340$4,137,411
96$12,882,498$789,375$0$4,470,811
97$14,130,152$761,694$0$4,852,757
98$15,502,976$730,566$0$5,276,660
99$17,013,672$695,756$0$5,742,909
100$18,676,235$657,016$0$6,255,864