Can I retire at age 62 with 649,000?

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 $649,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$53,594$53,116$52,651$52,196$51,752$50,583
2 years$26,532$26,037$25,559$25,094$24,644$23,473
3 years$17,512$17,016$16,538$16,078$15,635$14,498
4 years$13,003$12,508$12,035$11,583$11,151$10,057
5 years$10,299$9,807$9,340$8,897$8,477$7,428
6 years$8,496$8,008$7,548$7,115$6,707$5,706
7 years$7,209$6,725$6,273$5,850$5,455$4,501
8 years$6,244$5,765$5,320$4,907$4,525$3,618
9 years$5,494$5,019$4,582$4,180$3,811$2,950
10 years$4,895$4,424$3,994$3,603$3,247$2,431
11 years$4,404$3,939$3,517$3,136$2,793$2,021
12 years$3,996$3,535$3,121$2,750$2,420$1,691
13 years$3,651$3,195$2,788$2,428$2,110$1,423
14 years$3,355$2,904$2,505$2,156$1,850$1,203
15 years$3,099$2,653$2,262$1,922$1,629$1,020
16 years$2,875$2,434$2,051$1,721$1,440$868
17 years$2,678$2,241$1,866$1,547$1,276$741
18 years$2,503$2,071$1,704$1,394$1,135$633
19 years$2,346$1,920$1,560$1,259$1,012$542
20 years$2,206$1,784$1,431$1,141$904$465
21 years$2,079$1,661$1,317$1,035$809$400
22 years$1,963$1,551$1,213$941$725$344
23 years$1,858$1,451$1,120$857$651$296
24 years$1,762$1,359$1,036$782$585$255
25 years$1,673$1,275$960$714$526$220
26 years$1,592$1,199$890$653$474$189
27 years$1,516$1,128$826$598$427$164
28 years$1,446$1,063$768$547$386$141
29 years$1,382$1,003$715$502$348$122
30 years$1,321$947$666$461$315$105
31 years$1,265$895$621$423$284$91
32 years$1,212$847$579$389$257$79
33 years$1,162$802$541$358$233$68
34 years$1,116$760$505$329$211$59
35 years$1,072$721$472$303$191$51
36 years$1,031$685$442$279$173$44
37 years$992$650$414$257$157$38
38 years$955$618$387$237$142$33
39 years$920$588$363$218$129$29
40 years$887$559$340$201$117$25
41 years$856$532$319$186$106$21
42 years$826$507$299$172$96$18
43 years$798$483$281$158$87$16
44 years$771$460$264$146$79$14
45 years$745$439$247$135$72$12
46 years$721$419$232$125$65$10
47 years$698$400$218$115$59$9
48 years$675$381$205$106$54$8
49 years$654$364$193$98$49$7
50 years$634$348$181$91$44$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $649,000, adding $5,313 every year, while hoping to spend $57,465 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: 41/50/9 Blend
61$649,000$649,000$649,000$649,000
62$720,678$686,281$676,222$748,090
63$733,045$658,767$637,733$740,286
64$744,748$627,978$596,029$725,679
65$755,657$593,694$550,941$708,570
66$765,630$555,681$502,293$688,755
67$774,506$513,691$449,902$666,015
68$782,107$467,464$393,575$640,115
69$788,235$416,722$333,113$610,802
70$792,667$361,174$268,305$577,803
71$795,159$300,512$198,933$540,824
72$795,437$234,408$124,768$499,551
73$793,197$162,519$45,573$453,643
74$788,102$84,482$0$402,736
75$779,778$0$0$350,172
76$767,811$0$0$296,752
77$751,741$0$0$287,911
78$731,059$0$0$276,936
79$705,200$0$0$263,572
80$673,540$0$0$247,533
81$635,388$0$0$228,506
82$589,979$0$0$206,144
83$536,465$0$0$180,063
84$473,912$0$0$149,837
85$401,285$0$0$114,997
86$317,439$0$0$75,025
87$221,111$0$0$29,347
88$110,902$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0