Can I retire at age 62 with 653,000?

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 $653,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$53,924$53,444$52,975$52,518$52,071$51,852
2 years$26,695$26,198$25,716$25,249$24,796$24,574
3 years$17,620$17,121$16,640$16,177$15,731$15,515
4 years$13,083$12,585$12,110$11,655$11,220$11,009
5 years$10,362$9,867$9,398$8,952$8,529$8,326
6 years$8,548$8,057$7,595$7,159$6,749$6,553
7 years$7,253$6,766$6,311$5,886$5,489$5,300
8 years$6,283$5,800$5,352$4,937$4,553$4,372
9 years$5,528$5,050$4,610$4,206$3,835$3,661
10 years$4,925$4,451$4,019$3,625$3,267$3,101
11 years$4,431$3,963$3,538$3,155$2,810$2,651
12 years$4,021$3,557$3,140$2,767$2,435$2,283
13 years$3,673$3,214$2,806$2,443$2,123$1,978
14 years$3,376$2,922$2,521$2,169$1,861$1,723
15 years$3,118$2,669$2,276$1,934$1,639$1,507
16 years$2,893$2,449$2,063$1,732$1,448$1,323
17 years$2,695$2,255$1,878$1,556$1,284$1,165
18 years$2,518$2,084$1,714$1,402$1,142$1,029
19 years$2,361$1,931$1,569$1,267$1,018$911
20 years$2,219$1,795$1,440$1,148$909$808
21 years$2,091$1,672$1,325$1,042$814$718
22 years$1,975$1,560$1,221$947$729$638
23 years$1,869$1,459$1,127$862$655$569
24 years$1,773$1,367$1,042$787$588$507
25 years$1,684$1,283$966$718$529$453
26 years$1,602$1,206$896$657$477$405
27 years$1,526$1,135$832$601$430$362
28 years$1,455$1,070$773$551$388$324
29 years$1,390$1,009$719$505$350$291
30 years$1,329$953$670$464$317$261
31 years$1,272$901$625$426$286$234
32 years$1,219$852$583$391$259$210
33 years$1,169$807$544$360$234$188
34 years$1,123$765$508$331$212$169
35 years$1,079$726$475$305$192$152
36 years$1,037$689$445$281$174$136
37 years$998$654$416$259$158$123
38 years$961$622$390$238$143$110
39 years$926$591$365$220$130$99
40 years$893$562$342$203$118$89
41 years$861$535$321$187$107$80
42 years$831$510$301$173$97$72
43 years$803$486$283$159$88$65
44 years$776$463$265$147$80$58
45 years$750$442$249$136$72$53
46 years$725$421$234$126$66$47
47 years$702$402$220$116$60$43
48 years$680$384$206$107$54$38
49 years$658$366$194$99$49$35
50 years$638$350$182$92$45$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $653,000, adding $2,761 every year, while hoping to spend $25,811 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: 53/38/9 Blend
61$653,000$653,000$653,000$653,000
62$722,454$687,845$677,723$758,968
63$768,682$694,087$672,965$790,308
64$818,759$699,769$667,181$821,349
65$873,053$704,838$660,311$854,508
66$931,963$709,234$652,291$889,992
67$995,934$712,897$643,053$928,027
68$1,065,450$715,759$632,526$968,864
69$1,141,046$717,752$620,636$1,012,782
70$1,223,311$718,800$607,306$1,060,087
71$1,312,893$718,825$592,455$1,111,118
72$1,410,503$717,743$575,997$1,166,249
73$1,516,926$715,464$557,844$1,225,896
74$1,633,024$711,893$537,904$1,290,516
75$1,759,747$706,931$516,078$1,360,614
76$1,898,141$700,470$492,267$1,436,749
77$2,049,357$692,399$466,363$1,519,539
78$2,214,661$682,596$438,256$1,609,666
79$2,395,449$670,935$407,830$1,707,883
80$2,593,256$657,283$374,963$1,815,022
81$2,809,774$641,495$339,530$1,932,004
82$3,046,864$623,422$301,399$2,059,842
83$3,306,579$602,904$260,430$2,199,660
84$3,591,176$579,773$216,480$2,352,694
85$3,903,143$553,848$169,399$2,520,314
86$4,245,218$524,942$119,029$2,704,028
87$4,620,420$492,854$65,206$2,905,505
88$5,032,072$457,372$7,759$3,126,585
89$5,483,834$418,274$0$3,369,301
90$5,979,738$375,322$0$3,641,037
91$6,524,225$328,267$0$3,940,259
92$7,122,189$276,845$0$4,268,972
93$7,779,018$220,776$0$4,630,213
94$8,500,650$159,767$0$5,027,332
95$9,293,627$93,506$0$5,464,026
96$10,165,153$21,664$0$5,944,371
97$11,123,168$0$0$6,472,867
98$12,176,417$0$0$7,077,936
99$13,334,536$0$0$7,753,282
100$14,608,141$0$0$8,496,044