Can I retire at age 62 with 673,000?

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 $673,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$55,576$55,081$54,598$54,126$53,666$51,844
2 years$27,513$27,000$26,504$26,022$25,555$23,738
3 years$18,160$17,645$17,150$16,673$16,213$14,458
4 years$13,484$12,971$12,481$12,012$11,563$9,883
5 years$10,679$10,169$9,685$9,226$8,790$7,190
6 years$8,810$8,304$7,827$7,378$6,956$5,436
7 years$7,476$6,974$6,504$6,066$5,657$4,218
8 years$6,475$5,978$5,516$5,089$4,693$3,333
9 years$5,697$5,205$4,751$4,334$3,952$2,670
10 years$5,076$4,588$4,142$3,736$3,367$2,161
11 years$4,567$4,084$3,647$3,252$2,896$1,763
12 years$4,144$3,666$3,236$2,852$2,510$1,448
13 years$3,786$3,313$2,891$2,518$2,188$1,194
14 years$3,479$3,011$2,598$2,235$1,918$990
15 years$3,214$2,751$2,346$1,993$1,689$823
16 years$2,982$2,524$2,127$1,785$1,493$686
17 years$2,777$2,324$1,935$1,604$1,324$573
18 years$2,596$2,148$1,767$1,445$1,177$479
19 years$2,433$1,991$1,617$1,306$1,049$402
20 years$2,287$1,850$1,484$1,183$937$337
21 years$2,155$1,723$1,365$1,073$838$283
22 years$2,036$1,608$1,258$976$752$238
23 years$1,927$1,504$1,162$889$675$200
24 years$1,827$1,409$1,074$811$606$169
25 years$1,735$1,323$995$740$546$142
26 years$1,651$1,243$923$677$492$120
27 years$1,572$1,170$857$620$443$101
28 years$1,500$1,102$797$568$400$85
29 years$1,433$1,040$741$521$361$72
30 years$1,370$982$691$478$326$60
31 years$1,311$928$644$439$295$51
32 years$1,257$878$601$403$267$43
33 years$1,205$832$561$371$241$36
34 years$1,157$788$524$341$219$31
35 years$1,112$748$490$314$198$26
36 years$1,069$710$458$289$179$22
37 years$1,029$674$429$267$163$18
38 years$990$641$402$246$147$16
39 years$954$609$376$227$134$13
40 years$920$580$353$209$121$11
41 years$888$552$331$193$110$9
42 years$857$525$310$178$100$8
43 years$828$501$291$164$91$7
44 years$800$477$273$152$82$6
45 years$773$455$257$140$75$5
46 years$748$434$241$129$68$4
47 years$723$414$226$120$62$3
48 years$700$396$213$110$56$3
49 years$678$378$200$102$51$2
50 years$657$361$188$94$46$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $673,000, adding $6,455 every year, while hoping to spend $49,921 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: 59/18/23 Blend
61$673,000$673,000$673,000$673,000
62$748,304$712,635$702,204$787,499
63$771,516$694,439$672,612$796,706
64$795,422$673,678$640,356$800,789
65$820,040$650,173$605,293$804,156
66$845,390$623,737$567,276$806,745
67$871,488$594,169$526,149$808,496
68$898,355$561,258$481,749$809,341
69$926,008$524,781$433,909$809,211
70$954,467$484,501$382,451$808,031
71$983,749$440,168$327,190$805,723
72$1,013,874$391,519$267,933$802,202
73$1,044,860$338,274$204,480$797,382
74$1,076,725$280,139$136,619$791,167
75$1,109,487$216,802$64,131$783,458
76$1,143,163$147,933$0$774,151
77$1,177,770$73,186$0$766,380
78$1,213,324$0$0$773,788
79$1,249,840$0$0$782,102
80$1,287,333$0$0$805,517
81$1,325,815$0$0$829,546
82$1,365,298$0$0$854,195
83$1,405,793$0$0$879,468
84$1,447,307$0$0$905,372
85$1,489,846$0$0$931,907
86$1,533,415$0$0$959,076
87$1,578,012$0$0$986,878
88$1,623,637$0$0$1,015,310
89$1,670,282$0$0$1,044,367
90$1,717,938$0$0$1,074,041
91$1,766,589$0$0$1,104,321
92$1,816,215$0$0$1,135,192
93$1,866,790$0$0$1,166,636
94$1,918,282$0$0$1,198,631
95$1,970,649$0$0$1,231,149
96$2,023,845$0$0$1,264,156
97$2,077,810$0$0$1,297,615
98$2,132,477$0$0$1,331,478
99$2,187,766$0$0$1,365,693
100$2,243,584$0$0$1,400,197