Can I retire at age 62 with 622,000?

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 $622,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$51,364$50,907$50,460$50,025$49,599$49,307
2 years$25,428$24,954$24,495$24,050$23,619$23,324
3 years$16,783$16,308$15,850$15,409$14,985$14,697
4 years$12,462$11,988$11,535$11,101$10,687$10,408
5 years$9,870$9,399$8,951$8,527$8,124$7,855
6 years$8,143$7,675$7,234$6,819$6,428$6,169
7 years$6,909$6,445$6,012$5,606$5,228$4,978
8 years$5,984$5,525$5,098$4,703$4,337$4,097
9 years$5,266$4,810$4,391$4,006$3,653$3,423
10 years$4,691$4,240$3,828$3,453$3,112$2,892
11 years$4,221$3,775$3,370$3,005$2,677$2,466
12 years$3,830$3,388$2,991$2,636$2,319$2,119
13 years$3,499$3,062$2,672$2,327$2,023$1,831
14 years$3,215$2,783$2,401$2,066$1,773$1,591
15 years$2,970$2,542$2,168$1,842$1,561$1,388
16 years$2,756$2,333$1,966$1,650$1,380$1,215
17 years$2,567$2,148$1,789$1,482$1,223$1,067
18 years$2,399$1,985$1,633$1,336$1,088$940
19 years$2,249$1,840$1,495$1,207$970$829
20 years$2,114$1,710$1,372$1,093$866$733
21 years$1,992$1,592$1,262$992$775$650
22 years$1,882$1,486$1,163$902$695$576
23 years$1,781$1,390$1,074$822$624$512
24 years$1,688$1,303$993$749$560$455
25 years$1,604$1,222$920$684$504$405
26 years$1,525$1,149$853$626$454$361
27 years$1,453$1,081$792$573$410$322
28 years$1,386$1,019$736$525$370$288
29 years$1,324$961$685$481$334$257
30 years$1,266$908$638$442$302$229
31 years$1,212$858$595$406$273$205
32 years$1,161$812$555$373$247$183
33 years$1,114$769$518$343$223$164
34 years$1,069$729$484$315$202$147
35 years$1,027$691$453$290$183$131
36 years$988$656$424$267$166$118
37 years$951$623$396$246$150$105
38 years$915$592$371$227$136$94
39 years$882$563$348$209$124$85
40 years$850$536$326$193$112$76
41 years$820$510$306$178$102$68
42 years$792$486$287$164$92$61
43 years$765$463$269$152$84$55
44 years$739$441$253$140$76$49
45 years$714$421$237$129$69$44
46 years$691$401$223$120$63$39
47 years$669$383$209$110$57$35
48 years$647$366$197$102$52$32
49 years$627$349$185$94$47$28
50 years$607$333$174$87$43$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $622,000, adding $2,856 every year, while hoping to spend $29,930 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: 51/19/30 Blend
61$622,000$622,000$622,000$622,000
62$688,390$655,424$645,783$717,536
63$726,760$655,694$635,571$738,472
64$768,042$654,975$624,015$758,018
65$812,499$653,186$611,036$778,697
66$860,423$650,241$596,555$800,631
67$912,135$646,052$580,488$823,956
68$967,986$640,521$562,748$848,824
69$1,028,362$633,548$543,241$875,402
70$1,093,688$625,026$521,873$903,879
71$1,164,431$614,839$498,543$934,464
72$1,241,104$602,867$473,146$967,387
73$1,324,272$588,983$445,571$1,002,907
74$1,414,555$573,050$415,705$1,041,310
75$1,512,636$554,926$383,428$1,082,914
76$1,619,266$534,459$348,613$1,128,073
77$1,735,271$511,487$311,132$1,177,177
78$1,861,560$485,841$270,846$1,230,662
79$1,999,133$457,341$227,613$1,289,010
80$2,149,091$425,797$181,284$1,352,756
81$2,312,645$391,008$131,704$1,422,492
82$2,491,128$352,760$78,709$1,498,874
83$2,686,008$310,831$22,131$1,582,631
84$2,898,901$264,982$0$1,674,568
85$3,131,585$214,962$0$1,787,820
86$3,386,018$160,506$0$1,919,489
87$3,664,356$101,335$0$2,063,639
88$3,968,973$37,153$0$2,221,544
89$4,302,482$0$0$2,394,610
90$4,667,763$0$0$2,591,153
91$5,067,985$0$0$2,815,071
92$5,506,640$0$0$3,060,556
93$5,987,571$0$0$3,329,769
94$6,515,013$0$0$3,625,088
95$7,093,631$0$0$3,949,134
96$7,728,562$0$0$4,304,793
97$8,425,464$0$0$4,695,243
98$9,190,571$0$0$5,123,987
99$10,030,748$0$0$5,594,883
100$10,953,560$0$0$6,112,180