Can I retire at age 62 with 680,000?

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 $680,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$56,154$55,654$55,166$54,689$54,224$53,282
2 years$27,799$27,281$26,779$26,293$25,821$24,875
3 years$18,349$17,829$17,328$16,846$16,382$15,461
4 years$13,624$13,106$12,610$12,137$11,684$10,796
5 years$10,790$10,275$9,786$9,322$8,882$8,029
6 years$8,902$8,390$7,909$7,455$7,028$6,211
7 years$7,553$7,046$6,572$6,129$5,716$4,935
8 years$6,542$6,040$5,574$5,142$4,742$3,997
9 years$5,757$5,259$4,801$4,379$3,993$3,284
10 years$5,128$4,635$4,185$3,775$3,402$2,729
11 years$4,615$4,127$3,685$3,286$2,926$2,287
12 years$4,187$3,704$3,270$2,882$2,536$1,930
13 years$3,825$3,347$2,922$2,544$2,211$1,638
14 years$3,515$3,043$2,625$2,258$1,938$1,397
15 years$3,247$2,779$2,370$2,014$1,707$1,196
16 years$3,013$2,550$2,149$1,803$1,508$1,027
17 years$2,806$2,348$1,955$1,620$1,337$884
18 years$2,622$2,170$1,785$1,460$1,189$763
19 years$2,459$2,011$1,634$1,320$1,060$660
20 years$2,311$1,869$1,500$1,195$947$572
21 years$2,178$1,741$1,379$1,085$847$496
22 years$2,057$1,625$1,271$986$759$431
23 years$1,947$1,520$1,174$898$682$375
24 years$1,846$1,424$1,086$819$613$326
25 years$1,753$1,336$1,005$748$551$284
26 years$1,668$1,256$933$684$497$247
27 years$1,589$1,182$866$626$448$216
28 years$1,516$1,114$805$574$404$188
29 years$1,448$1,051$749$526$365$164
30 years$1,384$992$698$483$330$144
31 years$1,325$938$651$443$298$125
32 years$1,270$888$607$407$270$110
33 years$1,218$841$567$375$244$96
34 years$1,169$797$530$345$221$84
35 years$1,123$756$495$317$200$73
36 years$1,080$717$463$292$181$64
37 years$1,039$681$433$269$164$56
38 years$1,001$647$406$248$149$49
39 years$964$616$380$229$135$43
40 years$930$586$356$211$123$38
41 years$897$558$334$195$111$33
42 years$866$531$314$180$101$29
43 years$836$506$294$166$92$25
44 years$808$482$276$153$83$22
45 years$781$460$259$141$75$19
46 years$755$439$244$131$68$17
47 years$731$419$229$121$62$15
48 years$708$400$215$112$56$13
49 years$685$382$202$103$51$11
50 years$664$365$190$95$47$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $680,000, adding $5,555 every year, while hoping to spend $31,931 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: 29/42/29 Blend
61$680,000$680,000$680,000$680,000
62$755,090$719,050$708,510$770,119
63$798,135$720,309$698,271$783,738
64$844,500$720,560$686,618$795,238
65$894,491$719,719$673,472$806,969
66$948,442$717,698$658,746$818,975
67$1,006,721$714,403$642,352$831,305
68$1,069,733$709,736$624,198$844,018
69$1,137,923$703,590$604,185$857,179
70$1,211,779$695,854$582,214$870,865
71$1,291,839$686,409$558,176$885,165
72$1,378,694$675,130$531,962$900,178
73$1,472,992$661,883$503,455$916,018
74$1,575,450$646,528$472,533$932,816
75$1,686,854$628,916$439,070$950,720
76$1,808,067$608,887$402,934$969,895
77$1,940,043$586,276$363,985$990,533
78$2,083,829$560,904$322,080$1,012,844
79$2,240,576$532,585$277,066$1,037,072
80$2,411,554$501,121$228,787$1,063,486
81$2,598,158$466,302$177,077$1,092,390
82$2,801,926$427,906$121,765$1,124,128
83$3,024,549$385,700$62,670$1,159,083
84$3,267,889$339,436$0$1,197,684
85$3,533,998$288,852$0$1,240,536
86$3,825,132$233,672$0$1,308,758
87$4,143,778$173,605$0$1,383,603
88$4,492,673$108,341$0$1,465,808
89$4,874,832$37,556$0$1,556,195
90$5,293,573$0$0$1,655,670
91$5,752,554$0$0$1,783,312
92$6,255,801$0$0$1,942,404
93$6,807,748$0$0$2,117,006
94$7,413,280$0$0$2,308,675
95$8,077,778$0$0$2,519,131
96$8,807,167$0$0$2,750,264
97$9,607,975$0$0$3,004,160
98$10,487,394$0$0$3,283,115
99$11,453,345$0$0$3,589,657
100$12,514,554$0$0$3,926,575