Can I retire at age 62 with 658,000?

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 $658,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$54,337$53,853$53,381$52,920$52,470$51,707
2 years$26,900$26,399$25,913$25,442$24,986$24,219
3 years$17,755$17,252$16,767$16,301$15,852$15,105
4 years$13,183$12,682$12,202$11,744$11,306$10,584
5 years$10,441$9,943$9,470$9,021$8,594$7,900
6 years$8,614$8,119$7,653$7,214$6,800$6,135
7 years$7,309$6,818$6,360$5,931$5,531$4,894
8 years$6,331$5,845$5,393$4,975$4,588$3,980
9 years$5,570$5,089$4,645$4,238$3,864$3,284
10 years$4,962$4,485$4,050$3,653$3,292$2,740
11 years$4,465$3,993$3,565$3,179$2,831$2,306
12 years$4,051$3,584$3,164$2,789$2,454$1,955
13 years$3,701$3,239$2,827$2,462$2,140$1,667
14 years$3,402$2,944$2,540$2,185$1,876$1,428
15 years$3,142$2,689$2,293$1,949$1,651$1,228
16 years$2,915$2,468$2,079$1,745$1,460$1,060
17 years$2,715$2,273$1,892$1,568$1,294$917
18 years$2,538$2,100$1,727$1,413$1,151$796
19 years$2,379$1,946$1,581$1,277$1,026$692
20 years$2,236$1,808$1,451$1,156$916$602
21 years$2,107$1,685$1,335$1,050$820$525
22 years$1,990$1,572$1,230$954$735$459
23 years$1,884$1,471$1,136$869$660$401
24 years$1,786$1,378$1,050$793$593$351
25 years$1,696$1,293$973$724$534$307
26 years$1,614$1,215$902$662$481$269
27 years$1,537$1,144$838$606$433$236
28 years$1,467$1,078$779$555$391$207
29 years$1,401$1,017$725$509$353$182
30 years$1,339$960$675$467$319$160
31 years$1,282$908$629$429$288$140
32 years$1,229$859$587$394$261$123
33 years$1,178$813$548$363$236$109
34 years$1,131$771$512$334$214$95
35 years$1,087$731$479$307$194$84
36 years$1,045$694$448$283$175$74
37 years$1,006$659$419$261$159$65
38 years$968$626$393$240$144$57
39 years$933$596$368$221$131$50
40 years$900$567$345$204$119$44
41 years$868$539$323$188$108$39
42 years$838$514$303$174$98$34
43 years$809$490$285$161$89$30
44 years$782$467$267$148$80$27
45 years$756$445$251$137$73$23
46 years$731$424$236$126$66$21
47 years$707$405$221$117$60$18
48 years$685$387$208$108$55$16
49 years$663$369$196$100$50$14
50 years$642$353$184$92$45$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $658,000, adding $2,550 every year, while hoping to spend $44,281 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: 25/50/25 Blend
61$658,000$658,000$658,000$658,000
62$727,746$692,872$682,673$740,138
63$754,862$679,708$658,428$737,343
64$783,259$664,415$631,887$730,374
65$813,022$646,842$602,925$721,963
66$844,241$626,829$571,415$712,018
67$877,016$604,206$537,220$700,442
68$911,454$578,794$500,199$687,134
69$947,672$550,404$460,205$671,989
70$985,796$518,836$417,083$654,897
71$1,025,965$483,877$370,673$635,744
72$1,068,329$445,302$320,806$614,410
73$1,113,052$402,876$267,307$590,770
74$1,160,314$356,346$209,992$564,695
75$1,210,308$305,450$148,669$536,051
76$1,263,249$249,906$83,139$504,698
77$1,319,368$189,420$13,192$470,491
78$1,378,921$123,678$0$433,280
79$1,442,185$52,352$0$409,303
80$1,509,463$0$0$386,829
81$1,581,090$0$0$375,936
82$1,657,430$0$0$395,089
83$1,738,880$0$0$415,590
84$1,825,879$0$0$437,559
85$1,918,905$0$0$461,125
86$2,018,484$0$0$486,432
87$2,125,190$0$0$513,635
88$2,239,657$0$0$542,907
89$2,362,577$0$0$574,437
90$2,494,711$0$0$608,432
91$2,636,893$0$0$645,119
92$2,790,042$0$0$684,749
93$2,955,163$0$0$727,597
94$3,133,364$0$0$773,965
95$3,325,860$0$0$824,185
96$3,533,986$0$0$878,623
97$3,759,211$0$0$937,680
98$4,003,149$0$0$1,001,799
99$4,267,574$0$0$1,071,464
100$4,554,438$0$0$1,147,211