Can I retire at age 62 with 676,000?

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 $676,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$55,823$55,326$54,841$54,368$53,905$53,521
2 years$27,635$27,121$26,622$26,138$25,669$25,281
3 years$18,241$17,724$17,226$16,747$16,286$15,907
4 years$13,544$13,029$12,536$12,065$11,615$11,248
5 years$10,727$10,215$9,729$9,267$8,830$8,475
6 years$8,849$8,341$7,862$7,411$6,987$6,645
7 years$7,509$7,005$6,533$6,093$5,682$5,354
8 years$6,504$6,004$5,541$5,111$4,714$4,399
9 years$5,723$5,228$4,772$4,354$3,970$3,669
10 years$5,098$4,608$4,161$3,753$3,382$3,094
11 years$4,587$4,102$3,663$3,266$2,909$2,634
12 years$4,162$3,682$3,251$2,865$2,521$2,259
13 years$3,803$3,328$2,904$2,529$2,198$1,948
14 years$3,495$3,025$2,610$2,245$1,927$1,689
15 years$3,228$2,763$2,356$2,002$1,697$1,471
16 years$2,995$2,535$2,136$1,793$1,499$1,285
17 years$2,789$2,335$1,944$1,611$1,330$1,126
18 years$2,607$2,157$1,774$1,452$1,182$990
19 years$2,444$1,999$1,624$1,312$1,054$872
20 years$2,298$1,858$1,491$1,188$941$769
21 years$2,165$1,731$1,371$1,078$842$680
22 years$2,045$1,615$1,264$980$755$602
23 years$1,935$1,511$1,167$893$678$533
24 years$1,835$1,416$1,079$814$609$473
25 years$1,743$1,328$1,000$744$548$420
26 years$1,658$1,249$927$680$494$374
27 years$1,579$1,175$861$622$445$332
28 years$1,507$1,107$800$570$402$296
29 years$1,439$1,045$745$523$363$264
30 years$1,376$986$694$480$328$235
31 years$1,317$933$647$441$296$210
32 years$1,262$882$603$405$268$187
33 years$1,211$836$563$373$243$167
34 years$1,162$792$526$343$220$149
35 years$1,117$751$492$316$199$133
36 years$1,074$713$460$291$180$119
37 years$1,033$677$431$268$163$106
38 years$995$644$404$247$148$95
39 years$959$612$378$228$134$85
40 years$924$582$354$210$122$76
41 years$892$554$332$194$110$68
42 years$861$528$312$179$100$61
43 years$831$503$292$165$91$54
44 years$803$479$275$152$83$48
45 years$776$457$258$141$75$43
46 years$751$436$242$130$68$39
47 years$727$416$227$120$62$35
48 years$703$397$214$111$56$31
49 years$681$379$201$103$51$28
50 years$660$362$189$95$46$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $676,000, adding $6,163 every year, while hoping to spend $37,108 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: 57/17/26 Blend
61$676,000$676,000$676,000$676,000
62$751,309$715,481$705,003$788,483
63$788,460$711,057$689,138$810,213
64$828,157$705,173$671,498$829,452
65$870,619$697,717$651,984$849,648
66$916,090$688,572$630,493$870,903
67$964,834$677,615$606,917$893,335
68$1,017,141$664,713$581,143$917,071
69$1,073,332$649,726$553,054$942,255
70$1,133,756$632,507$522,525$969,048
71$1,198,798$612,898$489,429$997,630
72$1,268,881$590,735$453,630$1,028,199
73$1,344,467$565,842$414,987$1,060,979
74$1,426,068$538,033$373,354$1,096,217
75$1,514,242$507,113$328,577$1,134,188
76$1,609,606$472,872$280,495$1,175,199
77$1,712,836$435,093$228,942$1,219,592
78$1,824,675$393,542$173,741$1,267,744
79$1,945,941$347,975$114,711$1,320,077
80$2,077,534$298,132$51,660$1,377,059
81$2,220,441$243,740$0$1,439,207
82$2,375,752$184,510$0$1,511,434
83$2,544,663$120,135$0$1,605,620
84$2,728,490$50,293$0$1,708,187
85$2,928,682$0$0$1,819,983
86$3,146,833$0$0$1,946,689
87$3,384,697$0$0$2,095,158
88$3,644,206$0$0$2,257,192
89$3,927,484$0$0$2,434,125
90$4,236,870$0$0$2,627,428
91$4,574,940$0$0$2,838,715
92$4,944,530$0$0$3,069,767
93$5,348,761$0$0$3,322,543
94$5,791,070$0$0$3,599,203
95$6,275,242$0$0$3,902,121
96$6,805,443$0$0$4,233,914
97$7,386,265$0$0$4,597,464
98$8,022,760$0$0$4,995,944
99$8,720,495$0$0$5,432,850
100$9,485,600$0$0$5,912,031