Can I retire at age 62 with 664,000?

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 $664,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$54,832$54,344$53,868$53,402$52,948$52,200
2 years$27,145$26,639$26,149$25,674$25,213$24,461
3 years$17,917$17,409$16,920$16,450$15,996$15,263
4 years$13,304$12,797$12,314$11,851$11,409$10,701
5 years$10,537$10,033$9,556$9,103$8,673$7,992
6 years$8,692$8,193$7,723$7,280$6,862$6,209
7 years$7,376$6,880$6,418$5,985$5,581$4,956
8 years$6,389$5,898$5,443$5,021$4,630$4,032
9 years$5,621$5,135$4,688$4,276$3,899$3,329
10 years$5,008$4,526$4,087$3,686$3,322$2,779
11 years$4,506$4,030$3,598$3,208$2,857$2,341
12 years$4,088$3,617$3,193$2,814$2,476$1,986
13 years$3,735$3,268$2,853$2,484$2,159$1,694
14 years$3,433$2,971$2,563$2,205$1,893$1,453
15 years$3,171$2,714$2,314$1,967$1,666$1,250
16 years$2,942$2,490$2,098$1,761$1,473$1,080
17 years$2,740$2,293$1,909$1,582$1,306$935
18 years$2,561$2,119$1,743$1,426$1,161$812
19 years$2,401$1,964$1,596$1,288$1,035$706
20 years$2,257$1,825$1,464$1,167$924$615
21 years$2,127$1,700$1,347$1,059$827$537
22 years$2,009$1,587$1,241$963$742$469
23 years$1,901$1,484$1,146$877$666$411
24 years$1,802$1,390$1,060$800$598$360
25 years$1,712$1,305$982$730$538$315
26 years$1,628$1,226$911$668$485$276
27 years$1,551$1,154$846$611$437$243
28 years$1,480$1,088$786$560$395$213
29 years$1,413$1,026$732$514$356$187
30 years$1,352$969$681$471$322$165
31 years$1,294$916$635$433$291$145
32 years$1,240$867$593$398$263$127
33 years$1,189$821$553$366$238$112
34 years$1,142$778$517$337$216$99
35 years$1,097$738$483$310$195$87
36 years$1,055$700$452$285$177$76
37 years$1,015$665$423$263$160$67
38 years$977$632$396$242$145$59
39 years$942$601$371$223$132$52
40 years$908$572$348$206$120$46
41 years$876$544$326$190$109$41
42 years$845$518$306$176$98$36
43 years$816$494$287$162$89$32
44 years$789$471$270$150$81$28
45 years$763$449$253$138$74$24
46 years$738$428$238$128$67$22
47 years$714$409$223$118$61$19
48 years$691$390$210$109$55$17
49 years$669$373$197$101$50$15
50 years$648$356$186$93$45$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $664,000, adding $6,158 every year, while hoping to spend $37,152 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: 66/7/27 Blend
61$664,000$664,000$664,000$664,000
62$738,080$702,888$692,596$781,192
63$773,835$697,800$676,269$805,929
64$811,991$691,218$658,149$828,240
65$852,755$683,028$638,138$851,806
66$896,352$673,113$616,132$876,752
67$943,030$661,345$592,022$903,219
68$993,059$647,591$565,694$931,362
69$1,046,737$631,708$537,031$961,354
70$1,104,390$613,548$505,907$993,388
71$1,166,377$592,951$472,194$1,027,675
72$1,233,090$569,749$435,756$1,064,453
73$1,304,962$543,763$396,450$1,103,982
74$1,382,467$514,807$354,131$1,146,554
75$1,466,127$482,680$308,642$1,192,488
76$1,556,513$447,172$259,822$1,242,141
77$1,654,255$408,061$207,504$1,295,908
78$1,760,044$365,111$151,510$1,354,226
79$1,874,641$318,074$91,658$1,417,578
80$1,998,881$266,687$27,756$1,486,499
81$2,133,685$210,673$0$1,561,582
82$2,280,063$149,737$0$1,655,132
83$2,439,126$83,571$0$1,765,516
84$2,612,098$11,848$0$1,885,595
85$2,800,326$0$0$2,016,320
86$3,005,289$0$0$2,163,809
87$3,228,617$0$0$2,325,548
88$3,472,103$0$0$2,501,925
89$3,737,722$0$0$2,694,378
90$4,027,644$0$0$2,904,484
91$4,344,262$0$0$3,133,982
92$4,690,208$0$0$3,384,786
93$5,068,379$0$0$3,659,003
94$5,481,967$0$0$3,958,952
95$5,934,483$0$0$4,287,189
96$6,429,797$0$0$4,646,525
97$6,972,168$0$0$5,040,057
98$7,566,287$0$0$5,471,197
99$8,217,319$0$0$5,943,700
100$8,930,953$0$0$6,461,703