Can I retire at age 62 with 695,000?

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 $695,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$57,392$56,881$56,382$55,896$55,420$54,146
2 years$28,412$27,883$27,370$26,873$26,391$25,114
3 years$18,753$18,222$17,710$17,218$16,743$15,504
4 years$13,925$13,395$12,889$12,404$11,941$10,749
5 years$11,028$10,502$10,002$9,528$9,078$7,936
6 years$9,098$8,576$8,083$7,619$7,183$6,093
7 years$7,720$7,202$6,717$6,264$5,842$4,803
8 years$6,687$6,173$5,697$5,255$4,846$3,859
9 years$5,884$5,375$4,907$4,476$4,081$3,144
10 years$5,241$4,738$4,278$3,858$3,477$2,590
11 years$4,716$4,218$3,766$3,358$2,991$2,151
12 years$4,279$3,786$3,342$2,945$2,592$1,799
13 years$3,909$3,421$2,986$2,600$2,260$1,513
14 years$3,593$3,110$2,683$2,308$1,981$1,278
15 years$3,319$2,841$2,422$2,059$1,744$1,083
16 years$3,079$2,606$2,196$1,843$1,542$921
17 years$2,868$2,400$1,998$1,656$1,367$785
18 years$2,680$2,218$1,824$1,493$1,215$671
19 years$2,513$2,056$1,670$1,349$1,083$574
20 years$2,362$1,910$1,533$1,221$968$492
21 years$2,226$1,779$1,410$1,109$866$422
22 years$2,102$1,661$1,299$1,008$776$363
23 years$1,990$1,553$1,200$918$697$312
24 years$1,887$1,455$1,110$837$626$269
25 years$1,792$1,366$1,028$765$564$231
26 years$1,705$1,284$953$699$508$199
27 years$1,624$1,208$885$640$458$172
28 years$1,549$1,138$823$586$413$148
29 years$1,479$1,074$766$538$373$128
30 years$1,415$1,014$713$493$337$111
31 years$1,354$959$665$453$305$95
32 years$1,298$907$620$416$276$82
33 years$1,245$859$579$383$249$71
34 years$1,195$814$541$352$226$62
35 years$1,148$772$506$324$204$53
36 years$1,104$733$473$299$185$46
37 years$1,062$696$443$275$168$40
38 years$1,023$662$415$254$152$34
39 years$985$629$389$234$138$30
40 years$950$599$364$216$125$26
41 years$917$570$342$199$114$22
42 years$885$543$320$184$103$19
43 years$855$517$301$170$94$17
44 years$826$493$282$157$85$14
45 years$798$470$265$145$77$12
46 years$772$448$249$134$70$11
47 years$747$428$234$123$64$9
48 years$723$408$220$114$58$8
49 years$700$390$207$105$52$7
50 years$679$373$194$97$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $695,000, adding $4,142 every year, while hoping to spend $33,219 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: 50/33/17 Blend
61$695,000$695,000$695,000$695,000
62$770,162$733,327$722,555$804,853
63$813,374$733,916$711,416$829,796
64$859,880$733,420$698,790$853,112
65$909,982$731,751$684,593$877,730
66$964,009$728,815$668,736$903,783
67$1,022,324$724,514$651,125$931,421
68$1,085,328$718,742$631,665$960,810
69$1,153,458$711,386$610,252$992,136
70$1,227,196$702,330$586,780$1,025,605
71$1,307,072$691,446$561,140$1,061,444
72$1,393,668$678,602$533,213$1,099,910
73$1,487,626$663,657$502,879$1,141,285
74$1,589,649$646,461$470,010$1,185,883
75$1,700,512$626,857$434,475$1,234,053
76$1,821,068$604,676$396,133$1,286,182
77$1,952,254$579,743$354,841$1,342,701
78$2,095,103$551,869$310,447$1,404,087
79$2,250,749$520,857$262,793$1,470,869
80$2,420,443$486,496$211,714$1,543,635
81$2,605,559$448,565$157,037$1,623,034
82$2,807,611$406,830$98,583$1,709,789
83$3,028,266$361,043$36,164$1,804,699
84$3,269,357$310,942$0$1,908,650
85$3,532,904$256,250$0$2,028,146
86$3,821,130$196,676$0$2,166,109
87$4,136,483$131,911$0$2,317,215
88$4,481,658$61,629$0$2,482,836
89$4,859,623$0$0$2,664,488
90$5,273,648$0$0$2,869,116
91$5,727,331$0$0$3,117,940
92$6,224,636$0$0$3,390,764
93$6,769,929$0$0$3,689,992
94$7,368,020$0$0$4,018,272
95$8,024,203$0$0$4,378,522
96$8,744,314$0$0$4,773,954
97$9,534,778$0$0$5,208,109
98$10,402,673$0$0$5,684,884
99$11,355,797$0$0$6,208,575
100$12,402,739$0$0$6,783,913