Can I retire at age 62 with 642,000?

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 $642,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$53,016$52,544$52,083$51,633$51,194$49,221
2 years$26,245$25,757$25,283$24,824$24,378$22,414
3 years$17,323$16,832$16,360$15,905$15,466$13,573
4 years$12,863$12,373$11,906$11,458$11,031$9,222
5 years$10,187$9,701$9,239$8,801$8,385$6,667
6 years$8,404$7,922$7,467$7,038$6,635$5,007
7 years$7,131$6,653$6,205$5,787$5,396$3,858
8 years$6,177$5,702$5,262$4,854$4,477$3,028
9 years$5,435$4,965$4,532$4,135$3,770$2,408
10 years$4,842$4,376$3,951$3,564$3,212$1,934
11 years$4,357$3,896$3,479$3,102$2,763$1,566
12 years$3,953$3,497$3,087$2,721$2,394$1,275
13 years$3,611$3,160$2,758$2,402$2,088$1,044
14 years$3,319$2,873$2,478$2,132$1,830$857
15 years$3,066$2,624$2,238$1,902$1,611$707
16 years$2,844$2,408$2,029$1,703$1,424$584
17 years$2,649$2,217$1,846$1,530$1,263$483
18 years$2,476$2,049$1,685$1,379$1,123$401
19 years$2,321$1,899$1,543$1,246$1,001$333
20 years$2,182$1,765$1,416$1,128$894$277
21 years$2,056$1,644$1,302$1,024$800$230
22 years$1,942$1,534$1,200$931$717$192
23 years$1,838$1,435$1,108$848$644$160
24 years$1,743$1,344$1,025$773$578$133
25 years$1,655$1,262$949$706$521$111
26 years$1,575$1,186$880$646$469$93
27 years$1,500$1,116$818$591$423$77
28 years$1,431$1,052$760$542$381$65
29 years$1,367$992$707$497$344$54
30 years$1,307$937$659$456$311$45
31 years$1,251$886$614$419$281$38
32 years$1,199$838$573$385$255$32
33 years$1,150$794$535$354$230$26
34 years$1,104$752$500$326$209$22
35 years$1,060$713$467$300$189$18
36 years$1,020$677$437$276$171$15
37 years$981$643$409$254$155$13
38 years$945$611$383$234$141$11
39 years$910$581$359$216$128$9
40 years$878$553$337$199$116$8
41 years$847$526$316$184$105$6
42 years$817$501$296$170$95$5
43 years$789$478$278$157$86$4
44 years$763$455$261$145$78$4
45 years$737$434$245$134$71$3
46 years$713$414$230$123$65$3
47 years$690$395$216$114$59$2
48 years$668$377$203$105$53$2
49 years$647$360$191$97$48$1
50 years$627$344$179$90$44$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $642,000, adding $6,291 every year, while hoping to spend $40,299 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: 61/10/29 Blend
61$642,000$642,000$642,000$642,000
62$713,973$679,947$669,996$751,583
63$743,921$670,387$649,563$768,380
64$775,572$659,007$627,095$781,833
65$809,059$645,677$602,481$795,675
66$844,524$630,256$575,605$809,953
67$882,124$612,598$546,347$824,721
68$922,031$592,545$514,580$840,040
69$964,431$569,932$480,171$855,978
70$1,009,528$544,585$442,982$872,614
71$1,057,548$516,317$402,870$890,035
72$1,108,734$484,933$359,682$908,340
73$1,163,356$450,226$313,263$927,642
74$1,221,708$411,976$263,446$948,066
75$1,284,112$369,953$210,061$969,752
76$1,350,921$323,910$152,928$992,860
77$1,422,523$273,590$91,860$1,017,566
78$1,499,344$218,720$26,661$1,044,070
79$1,581,850$159,010$0$1,072,593
80$1,670,553$94,156$0$1,116,665
81$1,766,016$23,835$0$1,172,950
82$1,868,855$0$0$1,233,569
83$1,979,749$0$0$1,304,693
84$2,099,442$0$0$1,384,330
85$2,228,754$0$0$1,470,407
86$2,368,584$0$0$1,563,528
87$2,519,920$0$0$1,664,355
88$2,683,848$0$0$1,773,619
89$2,861,565$0$0$1,892,123
90$3,054,384$0$0$2,020,748
91$3,263,750$0$0$2,160,465
92$3,491,252$0$0$2,312,342
93$3,738,640$0$0$2,477,552
94$4,007,837$0$0$2,657,389
95$4,300,959$0$0$2,853,274
96$4,620,335$0$0$3,066,771
97$4,968,530$0$0$3,299,602
98$5,348,363$0$0$3,553,663
99$5,762,940$0$0$3,831,039
100$6,215,679$0$0$4,134,027