Can I retire at age 62 with 650,000?

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 $650,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$53,676$53,198$52,732$52,276$51,832$50,497
2 years$26,572$26,078$25,598$25,133$24,682$23,346
3 years$17,539$17,042$16,564$16,103$15,659$14,364
4 years$13,023$12,528$12,054$11,601$11,168$9,924
5 years$10,314$9,822$9,354$8,911$8,490$7,299
6 years$8,509$8,020$7,560$7,126$6,718$5,582
7 years$7,220$6,735$6,282$5,859$5,463$4,383
8 years$6,254$5,773$5,328$4,915$4,532$3,507
9 years$5,503$5,027$4,589$4,186$3,817$2,846
10 years$4,902$4,431$4,001$3,609$3,252$2,334
11 years$4,411$3,945$3,522$3,141$2,797$1,930
12 years$4,002$3,540$3,126$2,755$2,424$1,607
13 years$3,656$3,200$2,793$2,432$2,114$1,345
14 years$3,360$2,908$2,509$2,159$1,853$1,130
15 years$3,104$2,657$2,266$1,925$1,631$954
16 years$2,880$2,438$2,054$1,724$1,442$807
17 years$2,682$2,245$1,869$1,549$1,278$684
18 years$2,507$2,074$1,706$1,396$1,137$582
19 years$2,350$1,923$1,562$1,261$1,013$495
20 years$2,209$1,786$1,433$1,142$905$422
21 years$2,082$1,664$1,319$1,037$810$360
22 years$1,966$1,553$1,215$943$726$308
23 years$1,861$1,453$1,122$858$652$264
24 years$1,764$1,361$1,038$783$586$226
25 years$1,676$1,277$961$715$527$193
26 years$1,594$1,201$891$654$475$166
27 years$1,519$1,130$828$598$428$142
28 years$1,449$1,065$769$548$386$122
29 years$1,384$1,004$716$503$349$105
30 years$1,323$949$667$461$315$90
31 years$1,267$897$622$424$285$77
32 years$1,214$848$580$390$258$66
33 years$1,164$803$542$358$233$57
34 years$1,117$762$506$330$211$49
35 years$1,074$722$473$303$191$42
36 years$1,032$686$443$279$173$36
37 years$993$651$414$257$157$31
38 years$957$619$388$237$142$27
39 years$922$588$364$219$129$23
40 years$889$560$341$202$117$20
41 years$857$533$319$186$106$17
42 years$828$508$300$172$96$15
43 years$799$484$281$159$87$12
44 years$772$461$264$146$79$11
45 years$747$440$248$135$72$9
46 years$722$419$233$125$65$8
47 years$699$400$219$115$59$7
48 years$676$382$206$107$54$6
49 years$655$365$193$99$49$5
50 years$635$348$182$91$45$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $650,000, adding $3,552 every year, while hoping to spend $51,087 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: 47/24/29 Blend
61$650,000$650,000$650,000$650,000
62$719,964$685,514$675,439$747,668
63$739,044$664,748$643,710$746,840
64$758,358$641,252$609,206$740,706
65$777,876$614,839$571,780$733,071
66$797,563$585,310$531,278$723,820
67$817,379$552,454$487,540$712,834
68$837,278$516,051$440,399$699,981
69$857,207$475,864$389,679$685,123
70$877,106$431,646$335,198$668,111
71$896,908$383,133$276,764$648,788
72$916,535$330,049$214,178$626,984
73$935,901$272,101$147,232$602,517
74$954,907$208,978$75,708$575,195
75$973,443$140,354$0$544,809
76$991,386$65,882$0$511,331
77$1,008,597$0$0$499,342
78$1,024,919$0$0$489,123
79$1,040,181$0$0$495,713
80$1,054,186$0$0$501,611
81$1,066,720$0$0$506,704
82$1,077,539$0$0$510,865
83$1,086,375$0$0$513,954
84$1,092,929$0$0$515,814
85$1,096,867$0$0$516,271
86$1,097,820$0$0$515,131
87$1,095,375$0$0$512,180
88$1,089,077$0$0$507,181
89$1,078,418$0$0$499,868
90$1,062,838$0$0$489,949
91$1,041,712$0$0$477,101
92$1,014,351$0$0$460,963
93$979,991$0$0$441,137
94$937,784$0$0$417,184
95$886,794$0$0$388,615
96$825,984$0$0$354,892
97$754,206$0$0$315,419
98$670,192$0$0$269,535
99$572,539$0$0$216,513
100$459,696$0$0$155,546