Can I retire at age 62 with 632,000?

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 $632,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$52,190$51,725$51,272$50,829$50,397$49,787
2 years$25,837$25,355$24,889$24,437$23,998$23,385
3 years$17,053$16,570$16,105$15,657$15,226$14,628
4 years$12,663$12,181$11,720$11,280$10,859$10,281
5 years$10,029$9,550$9,095$8,664$8,255$7,698
6 years$8,273$7,798$7,350$6,929$6,532$5,997
7 years$7,020$6,549$6,108$5,697$5,312$4,800
8 years$6,081$5,614$5,180$4,779$4,407$3,917
9 years$5,350$4,888$4,462$4,070$3,711$3,243
10 years$4,766$4,308$3,890$3,509$3,162$2,716
11 years$4,289$3,835$3,425$3,054$2,720$2,295
12 years$3,891$3,442$3,039$2,678$2,357$1,953
13 years$3,555$3,111$2,715$2,365$2,055$1,672
14 years$3,267$2,828$2,440$2,099$1,801$1,438
15 years$3,018$2,583$2,203$1,872$1,586$1,242
16 years$2,800$2,370$1,997$1,676$1,402$1,076
17 years$2,608$2,183$1,817$1,506$1,243$935
18 years$2,437$2,017$1,659$1,357$1,105$815
19 years$2,285$1,869$1,519$1,226$985$711
20 years$2,148$1,737$1,394$1,111$880$622
21 years$2,024$1,618$1,282$1,008$787$545
22 years$1,912$1,510$1,182$917$706$478
23 years$1,809$1,413$1,091$835$634$420
24 years$1,716$1,323$1,009$761$569$369
25 years$1,629$1,242$935$695$512$325
26 years$1,550$1,167$867$636$462$286
27 years$1,477$1,099$805$582$416$252
28 years$1,409$1,035$748$533$376$222
29 years$1,345$977$696$489$339$196
30 years$1,286$922$649$449$306$173
31 years$1,231$872$605$412$277$153
32 years$1,180$825$564$379$251$135
33 years$1,132$781$527$348$227$119
34 years$1,087$740$492$320$205$105
35 years$1,044$702$460$295$186$93
36 years$1,004$667$430$272$168$82
37 years$966$633$403$250$153$73
38 years$930$602$377$231$138$65
39 years$896$572$353$213$126$57
40 years$864$544$331$196$114$51
41 years$834$518$311$181$103$45
42 years$805$493$291$167$94$40
43 years$777$470$273$154$85$35
44 years$751$448$257$142$77$31
45 years$726$427$241$132$70$27
46 years$702$408$226$121$64$24
47 years$679$389$213$112$58$22
48 years$658$371$200$104$52$19
49 years$637$355$188$96$48$17
50 years$617$339$177$89$43$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $632,000, adding $5,636 every year, while hoping to spend $40,253 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: 46/42/12 Blend
61$632,000$632,000$632,000$632,000
62$702,278$668,782$658,986$731,962
63$731,081$658,723$638,233$743,036
64$761,473$646,822$615,435$750,469
65$793,574$632,947$590,483$757,633
66$827,513$616,956$563,259$764,519
67$863,434$598,702$533,643$771,118
68$901,491$578,025$501,507$777,424
69$941,855$554,760$466,719$783,433
70$984,711$528,730$429,140$789,145
71$1,030,262$499,748$388,627$794,562
72$1,078,730$467,617$345,027$799,692
73$1,130,358$432,128$298,183$804,545
74$1,185,413$393,060$247,931$809,141
75$1,244,185$350,181$194,097$813,501
76$1,306,995$303,243$136,502$817,658
77$1,374,193$251,986$74,959$821,651
78$1,446,162$196,134$9,272$825,529
79$1,523,324$135,398$0$829,352
80$1,606,140$69,470$0$840,982
81$1,695,118$0$0$854,490
82$1,790,814$0$0$869,730
83$1,893,838$0$0$920,757
84$2,004,863$0$0$975,800
85$2,124,625$0$0$1,035,234
86$2,253,933$0$0$1,099,467
87$2,393,677$0$0$1,168,948
88$2,544,836$0$0$1,244,173
89$2,708,483$0$0$1,325,685
90$2,885,800$0$0$1,414,081
91$3,078,087$0$0$1,510,018
92$3,286,773$0$0$1,614,219
93$3,513,427$0$0$1,727,480
94$3,759,780$0$0$1,850,675
95$4,027,733$0$0$1,984,765
96$4,319,376$0$0$2,130,811
97$4,637,014$0$0$2,289,976
98$4,983,177$0$0$2,463,544
99$5,360,655$0$0$2,652,925
100$5,772,515$0$0$2,859,673