Can I retire at age 62 with 699,000?

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 $699,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$57,723$57,209$56,707$56,217$55,739$55,134
2 years$28,576$28,043$27,528$27,028$26,542$25,933
3 years$18,861$18,327$17,812$17,317$16,840$16,245
4 years$14,005$13,472$12,963$12,476$12,010$11,435
5 years$11,092$10,562$10,060$9,583$9,130$8,576
6 years$9,151$8,625$8,130$7,663$7,224$6,692
7 years$7,764$7,243$6,756$6,300$5,875$5,365
8 years$6,725$6,209$5,729$5,285$4,874$4,385
9 years$5,917$5,406$4,935$4,502$4,105$3,638
10 years$5,272$4,765$4,302$3,881$3,497$3,052
11 years$4,744$4,242$3,788$3,377$3,008$2,583
12 years$4,304$3,807$3,361$2,962$2,607$2,203
13 years$3,932$3,441$3,003$2,615$2,273$1,889
14 years$3,614$3,128$2,698$2,322$1,992$1,628
15 years$3,338$2,857$2,436$2,070$1,754$1,409
16 years$3,097$2,621$2,209$1,854$1,550$1,224
17 years$2,884$2,414$2,010$1,666$1,375$1,066
18 years$2,696$2,231$1,835$1,501$1,222$930
19 years$2,527$2,067$1,680$1,356$1,090$814
20 years$2,376$1,921$1,542$1,228$973$714
21 years$2,239$1,789$1,418$1,115$871$627
22 years$2,114$1,670$1,307$1,014$781$551
23 years$2,001$1,562$1,207$923$701$485
24 years$1,897$1,464$1,116$842$630$427
25 years$1,802$1,374$1,034$769$567$377
26 years$1,714$1,291$959$703$511$333
27 years$1,633$1,215$890$644$460$294
28 years$1,558$1,145$827$590$415$260
29 years$1,488$1,080$770$541$375$230
30 years$1,423$1,020$717$496$339$203
31 years$1,362$964$669$456$306$180
32 years$1,305$912$624$419$277$159
33 years$1,252$864$583$385$251$141
34 years$1,202$819$544$354$227$125
35 years$1,155$777$509$326$206$111
36 years$1,110$737$476$300$186$98
37 years$1,068$700$446$277$169$87
38 years$1,029$665$417$255$153$77
39 years$991$633$391$235$139$69
40 years$956$602$366$217$126$61
41 years$922$573$344$200$114$54
42 years$890$546$322$185$104$48
43 years$859$520$302$171$94$42
44 years$831$496$284$157$85$38
45 years$803$473$267$145$78$33
46 years$777$451$250$134$70$30
47 years$751$430$235$124$64$26
48 years$727$411$221$115$58$23
49 years$704$392$208$106$53$21
50 years$682$375$195$98$48$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $699,000, adding $3,866 every year, while hoping to spend $58,370 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: 42/50/8 Blend
61$699,000$699,000$699,000$699,000
62$774,286$737,239$726,404$804,832
63$791,158$711,258$688,634$800,519
64$807,794$682,048$647,641$789,646
65$824,110$649,389$603,258$776,540
66$840,008$613,048$555,306$761,018
67$855,381$572,780$503,601$742,888
68$870,107$528,323$447,948$721,940
69$884,050$479,404$388,148$697,951
70$897,060$425,731$323,987$670,681
71$908,966$366,997$255,246$639,873
72$919,579$302,879$181,695$605,249
73$928,688$233,032$103,094$566,513
74$936,059$157,095$19,193$523,345
75$941,430$74,686$0$475,403
76$944,510$0$0$428,323
77$944,977$0$0$385,874
78$942,471$0$0$383,092
79$936,595$0$0$378,699
80$926,906$0$0$372,488
81$912,914$0$0$364,232
82$894,077$0$0$353,677
83$869,791$0$0$340,542
84$839,390$0$0$324,517
85$802,137$0$0$305,259
86$757,213$0$0$282,388
87$703,714$0$0$255,482
88$640,640$0$0$224,077
89$566,885$0$0$187,658
90$481,225$0$0$145,658
91$382,309$0$0$97,447
92$268,640$0$0$42,333
93$138,569$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0