Can I retire at age 62 with 629,000?

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 $629,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$51,942$51,480$51,028$50,588$50,157$48,846
2 years$25,714$25,235$24,771$24,321$23,884$22,572
3 years$16,972$16,491$16,028$15,583$15,153$13,881
4 years$12,602$12,123$11,665$11,226$10,807$9,585
5 years$9,981$9,505$9,052$8,623$8,216$7,047
6 years$8,234$7,761$7,316$6,896$6,501$5,386
7 years$6,987$6,518$6,079$5,669$5,287$4,227
8 years$6,052$5,587$5,156$4,756$4,386$3,380
9 years$5,325$4,864$4,441$4,051$3,694$2,741
10 years$4,744$4,288$3,871$3,492$3,147$2,246
11 years$4,269$3,817$3,408$3,039$2,707$1,857
12 years$3,873$3,426$3,025$2,666$2,346$1,545
13 years$3,538$3,096$2,702$2,353$2,045$1,292
14 years$3,252$2,814$2,428$2,089$1,793$1,085
15 years$3,004$2,571$2,192$1,863$1,579$915
16 years$2,787$2,359$1,988$1,668$1,395$773
17 years$2,596$2,172$1,809$1,499$1,237$656
18 years$2,426$2,007$1,651$1,351$1,100$557
19 years$2,274$1,860$1,511$1,221$980$474
20 years$2,138$1,729$1,387$1,105$876$404
21 years$2,015$1,610$1,276$1,003$784$344
22 years$1,903$1,503$1,176$912$702$294
23 years$1,801$1,406$1,086$831$631$251
24 years$1,707$1,317$1,004$758$567$215
25 years$1,622$1,236$930$692$510$184
26 years$1,543$1,162$863$633$459$158
27 years$1,470$1,093$801$579$414$135
28 years$1,402$1,030$745$531$374$116
29 years$1,339$972$693$487$337$99
30 years$1,280$918$645$447$305$85
31 years$1,226$868$602$410$276$73
32 years$1,174$821$561$377$249$63
33 years$1,126$778$524$347$226$54
34 years$1,081$737$490$319$204$46
35 years$1,039$699$458$294$185$40
36 years$999$663$428$270$168$34
37 years$961$630$401$249$152$29
38 years$926$599$375$230$138$25
39 years$892$569$352$212$125$22
40 years$860$542$330$195$113$18
41 years$830$516$309$180$103$16
42 years$801$491$290$166$93$14
43 years$773$468$272$153$85$12
44 years$747$446$255$142$77$10
45 years$722$425$240$131$70$9
46 years$699$406$225$121$63$7
47 years$676$387$212$112$58$6
48 years$655$370$199$103$52$5
49 years$634$353$187$95$47$5
50 years$614$337$176$88$43$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $629,000, adding $5,528 every year, while hoping to spend $31,690 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: 34/50/16 Blend
61$629,000$629,000$629,000$629,000
62$698,860$665,523$655,774$718,987
63$736,426$664,416$644,024$733,082
64$776,761$662,192$630,819$744,914
65$820,115$658,764$616,076$756,992
66$866,762$654,038$599,709$769,357
67$917,000$647,914$581,627$782,054
68$971,160$640,288$561,738$795,136
69$1,029,604$631,048$539,942$808,663
70$1,092,731$620,076$516,137$822,707
71$1,160,976$607,247$490,215$837,347
72$1,234,821$592,428$462,063$852,675
73$1,314,795$575,479$431,563$868,797
74$1,401,477$556,250$398,594$885,831
75$1,495,508$534,586$363,027$903,915
76$1,597,588$510,319$324,726$923,200
77$1,708,491$483,274$283,554$943,862
78$1,829,066$453,264$239,362$966,097
79$1,960,249$420,092$191,999$990,127
80$2,103,068$383,550$141,304$1,016,202
81$2,258,654$343,417$87,112$1,044,603
82$2,428,255$299,463$29,248$1,075,646
83$2,613,240$251,440$0$1,109,686
84$2,815,119$199,088$0$1,152,670
85$3,035,552$142,135$0$1,205,185
86$3,276,368$80,289$0$1,262,764
87$3,539,580$13,246$0$1,326,001
88$3,827,404$0$0$1,395,558
89$4,142,279$0$0$1,504,805
90$4,486,893$0$0$1,632,437
91$4,864,204$0$0$1,772,274
92$5,277,469$0$0$1,925,533
93$5,730,276$0$0$2,093,559
94$6,226,577$0$0$2,277,828
95$6,770,722$0$0$2,479,972
96$7,367,505$0$0$2,701,783
97$8,022,204$0$0$2,945,237
98$8,740,634$0$0$3,212,512
99$9,529,199$0$0$3,506,005
100$10,394,953$0$0$3,828,357