Can I retire at age 62 with 630,000?

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 $630,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$52,025$51,561$51,109$50,668$50,237$49,900
2 years$25,755$25,275$24,810$24,360$23,922$23,582
3 years$16,999$16,518$16,054$15,607$15,177$14,845
4 years$12,622$12,142$11,683$11,244$10,825$10,502
5 years$9,997$9,520$9,067$8,637$8,229$7,917
6 years$8,247$7,773$7,327$6,907$6,511$6,211
7 years$6,998$6,528$6,089$5,678$5,295$5,007
8 years$6,061$5,596$5,164$4,764$4,393$4,117
9 years$5,333$4,872$4,448$4,057$3,699$3,435
10 years$4,751$4,295$3,878$3,498$3,152$2,899
11 years$4,275$3,823$3,414$3,044$2,711$2,469
12 years$3,879$3,432$3,030$2,670$2,349$2,119
13 years$3,544$3,101$2,707$2,357$2,049$1,829
14 years$3,257$2,819$2,432$2,092$1,796$1,587
15 years$3,008$2,575$2,196$1,866$1,581$1,382
16 years$2,791$2,363$1,991$1,671$1,397$1,209
17 years$2,600$2,176$1,812$1,501$1,239$1,060
18 years$2,430$2,011$1,654$1,353$1,102$932
19 years$2,278$1,863$1,514$1,222$982$821
20 years$2,141$1,732$1,389$1,107$877$725
21 years$2,018$1,613$1,278$1,005$785$642
22 years$1,906$1,506$1,178$914$704$568
23 years$1,804$1,408$1,088$832$632$504
24 years$1,710$1,319$1,006$759$568$448
25 years$1,624$1,238$932$693$511$398
26 years$1,545$1,164$864$634$460$354
27 years$1,472$1,095$802$580$415$315
28 years$1,404$1,032$746$531$374$281
29 years$1,341$973$694$487$338$250
30 years$1,282$919$646$447$305$223
31 years$1,228$869$603$411$276$199
32 years$1,176$822$562$378$250$178
33 years$1,128$779$525$347$226$159
34 years$1,083$738$491$319$205$142
35 years$1,041$700$459$294$185$127
36 years$1,001$664$429$271$168$114
37 years$963$631$402$250$152$102
38 years$927$600$376$230$138$91
39 years$893$570$352$212$125$81
40 years$861$543$330$196$114$73
41 years$831$517$310$180$103$65
42 years$802$492$290$167$93$58
43 years$775$469$273$154$85$52
44 years$749$447$256$142$77$47
45 years$724$426$240$131$70$42
46 years$700$406$226$121$63$37
47 years$677$388$212$112$58$33
48 years$656$370$199$103$52$30
49 years$635$354$187$96$48$27
50 years$615$338$176$88$43$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $630,000, adding $6,173 every year, while hoping to spend $32,759 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: 54/18/28 Blend
61$630,000$630,000$630,000$630,000
62$700,627$667,237$657,472$732,710
63$737,236$665,077$644,642$753,395
64$776,481$661,712$630,285$772,039
65$818,596$657,050$614,313$791,682
66$863,839$650,992$596,639$812,432
67$912,492$643,431$577,167$834,410
68$964,864$634,258$555,801$857,752
69$1,021,296$623,352$532,436$882,607
70$1,082,161$610,590$506,966$909,143
71$1,147,871$595,838$479,278$937,548
72$1,218,876$578,956$449,256$968,030
73$1,295,672$559,796$416,777$1,000,819
74$1,378,804$538,199$381,713$1,036,174
75$1,468,872$514,000$343,929$1,074,382
76$1,566,533$487,023$303,287$1,115,760
77$1,672,512$457,080$259,640$1,160,662
78$1,787,607$423,975$212,836$1,209,482
79$1,912,692$387,499$162,716$1,262,655
80$2,048,733$347,433$109,114$1,320,665
81$2,196,790$303,544$51,855$1,384,051
82$2,358,030$255,585$0$1,453,407
83$2,533,738$203,297$0$1,532,157
84$2,725,326$146,405$0$1,634,984
85$2,934,350$84,620$0$1,747,249
86$3,162,522$17,635$0$1,869,912
87$3,411,727$0$0$2,004,034
88$3,684,040$0$0$2,161,653
89$3,981,745$0$0$2,337,846
90$4,307,356$0$0$2,530,615
91$4,663,644$0$0$2,741,607
92$5,053,656$0$0$2,972,636
93$5,480,750$0$0$3,225,699
94$5,948,625$0$0$3,502,994
95$6,461,350$0$0$3,806,944
96$7,023,412$0$0$4,140,217
97$7,639,749$0$0$4,505,749
98$8,315,800$0$0$4,906,778
99$9,057,558$0$0$5,346,866
100$9,871,622$0$0$5,829,942