Can I retire at age 62 with 675,000?

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 $675,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$55,741$55,244$54,760$54,287$53,825$52,333
2 years$27,594$27,081$26,582$26,100$25,631$24,139
3 years$18,214$17,697$17,201$16,722$16,261$14,816
4 years$13,524$13,009$12,518$12,047$11,598$10,210
5 years$10,711$10,200$9,714$9,254$8,816$7,490
6 years$8,836$8,329$7,851$7,400$6,976$5,713
7 years$7,498$6,994$6,524$6,084$5,673$4,473
8 years$6,494$5,996$5,533$5,104$4,707$3,569
9 years$5,714$5,220$4,765$4,347$3,964$2,887
10 years$5,091$4,601$4,155$3,747$3,377$2,360
11 years$4,581$4,096$3,658$3,261$2,905$1,946
12 years$4,156$3,677$3,246$2,861$2,517$1,614
13 years$3,797$3,323$2,900$2,526$2,195$1,347
14 years$3,489$3,020$2,606$2,242$1,924$1,128
15 years$3,223$2,759$2,353$1,999$1,694$948
16 years$2,991$2,531$2,133$1,790$1,497$799
17 years$2,785$2,331$1,941$1,608$1,328$676
18 years$2,603$2,154$1,772$1,450$1,180$572
19 years$2,440$1,996$1,622$1,310$1,052$485
20 years$2,294$1,855$1,489$1,186$940$412
21 years$2,162$1,728$1,369$1,077$841$351
22 years$2,042$1,613$1,262$979$754$298
23 years$1,932$1,509$1,165$892$677$254
24 years$1,832$1,414$1,078$813$608$217
25 years$1,740$1,327$998$743$547$185
26 years$1,655$1,247$926$679$493$158
27 years$1,577$1,173$860$621$444$135
28 years$1,504$1,106$799$569$401$115
29 years$1,437$1,043$744$522$362$98
30 years$1,374$985$693$479$327$84
31 years$1,315$931$646$440$296$72
32 years$1,260$881$602$404$268$62
33 years$1,209$834$563$372$242$53
34 years$1,160$791$526$342$219$45
35 years$1,115$750$491$315$199$39
36 years$1,072$712$460$290$180$33
37 years$1,032$676$430$267$163$28
38 years$993$643$403$246$148$24
39 years$957$611$378$227$134$21
40 years$923$581$354$210$122$18
41 years$890$553$332$193$110$15
42 years$859$527$311$178$100$13
43 years$830$502$292$165$91$11
44 years$802$479$274$152$82$9
45 years$775$456$257$140$75$8
46 years$750$435$242$130$68$7
47 years$726$416$227$120$62$6
48 years$702$397$213$111$56$5
49 years$680$379$201$102$51$4
50 years$659$362$189$95$46$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $675,000, adding $2,911 every year, while hoping to spend $25,067 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: 34/36/30 Blend
61$675,000$675,000$675,000$675,000
62$746,853$711,078$700,615$765,401
63$796,361$719,249$697,415$787,895
64$850,078$726,981$693,267$809,708
65$908,408$734,226$688,113$832,755
66$971,794$740,931$681,894$857,164
67$1,040,723$747,043$674,543$883,077
68$1,115,732$752,503$665,995$910,652
69$1,197,411$757,250$656,180$940,066
70$1,286,409$761,217$645,024$971,514
71$1,383,441$764,335$632,451$1,005,214
72$1,489,293$766,529$618,380$1,041,408
73$1,604,832$767,719$602,726$1,080,364
74$1,731,010$767,823$585,403$1,122,379
75$1,868,877$766,750$566,317$1,167,786
76$2,019,587$764,405$545,373$1,216,951
77$2,184,412$760,688$522,471$1,270,282
78$2,364,752$755,492$497,504$1,328,229
79$2,562,149$748,704$470,363$1,391,295
80$2,778,301$740,203$440,932$1,460,033
81$3,015,077$729,862$409,093$1,535,060
82$3,274,536$717,546$374,718$1,617,057
83$3,558,945$703,112$337,678$1,706,779
84$3,870,801$686,409$297,834$1,805,061
85$4,212,856$667,276$255,044$1,912,830
86$4,588,138$645,543$209,159$2,031,111
87$4,999,984$621,031$160,022$2,161,037
88$5,452,070$593,549$107,470$2,303,863
89$5,948,445$562,896$51,334$2,460,977
90$6,493,568$528,860$0$2,633,916
91$7,092,352$491,214$0$2,827,122
92$7,750,211$449,722$0$3,057,444
93$8,473,105$404,132$0$3,310,570
94$9,267,605$354,178$0$3,588,861
95$10,140,947$299,578$0$3,894,921
96$11,101,103$240,037$0$4,231,626
97$12,156,856$175,240$0$4,602,146
98$13,317,885$104,856$0$5,009,984
99$14,594,852$28,536$0$5,459,000
100$15,999,503$0$0$5,953,457