Can I retire at age 62 with 685,000?

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 $685,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$56,567$56,063$55,571$55,091$54,623$53,784
2 years$28,003$27,482$26,976$26,486$26,011$25,168
3 years$18,483$17,960$17,455$16,970$16,502$15,682
4 years$13,724$13,202$12,703$12,226$11,770$10,977
5 years$10,870$10,351$9,858$9,391$8,947$8,185
6 years$8,967$8,452$7,967$7,510$7,080$6,349
7 years$7,609$7,098$6,620$6,174$5,758$5,059
8 years$6,591$6,084$5,615$5,179$4,776$4,109
9 years$5,799$5,298$4,836$4,412$4,022$3,387
10 years$5,166$4,670$4,216$3,803$3,427$2,822
11 years$4,649$4,157$3,712$3,310$2,948$2,373
12 years$4,218$3,731$3,294$2,903$2,554$2,009
13 years$3,853$3,372$2,943$2,563$2,227$1,711
14 years$3,541$3,065$2,644$2,275$1,953$1,464
15 years$3,271$2,800$2,387$2,029$1,719$1,257
16 years$3,035$2,569$2,165$1,817$1,519$1,083
17 years$2,827$2,366$1,970$1,632$1,347$936
18 years$2,642$2,186$1,798$1,471$1,198$811
19 years$2,477$2,026$1,646$1,329$1,068$704
20 years$2,328$1,883$1,511$1,204$954$612
21 years$2,194$1,754$1,390$1,093$853$533
22 years$2,072$1,637$1,281$993$765$465
23 years$1,961$1,531$1,182$905$687$406
24 years$1,859$1,434$1,094$825$617$354
25 years$1,766$1,346$1,013$754$555$310
26 years$1,680$1,265$939$689$500$271
27 years$1,600$1,191$872$631$451$237
28 years$1,527$1,122$811$578$407$208
29 years$1,458$1,058$755$530$368$182
30 years$1,394$1,000$703$486$332$160
31 years$1,335$945$655$447$300$140
32 years$1,279$894$611$410$272$123
33 years$1,227$847$571$377$246$108
34 years$1,178$803$533$347$223$95
35 years$1,131$761$499$320$202$83
36 years$1,088$722$467$294$183$73
37 years$1,047$686$437$271$166$64
38 years$1,008$652$409$250$150$56
39 years$971$620$383$231$136$50
40 years$937$590$359$213$123$44
41 years$903$562$337$196$112$38
42 years$872$535$316$181$102$34
43 years$842$510$296$167$92$30
44 years$814$486$278$154$84$26
45 years$787$463$261$143$76$23
46 years$761$442$245$132$69$20
47 years$736$422$230$122$63$18
48 years$713$403$217$112$57$16
49 years$690$384$204$104$52$14
50 years$669$367$191$96$47$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $685,000, adding $4,864 every year, while hoping to spend $49,025 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: 64/13/23 Blend
61$685,000$685,000$685,000$685,000
62$759,887$723,582$712,965$803,685
63$785,233$706,876$684,687$817,099
64$811,522$687,707$653,818$825,818
65$838,797$665,905$620,221$834,230
66$867,106$641,285$583,750$842,308
67$896,499$613,657$544,254$850,025
68$927,030$582,814$501,575$857,354
69$958,756$548,541$455,547$864,268
70$991,740$510,610$405,998$870,737
71$1,026,046$468,778$352,747$876,732
72$1,061,745$422,791$295,607$882,223
73$1,098,914$372,379$234,381$887,181
74$1,137,633$317,256$168,863$891,576
75$1,177,991$257,120$98,839$895,377
76$1,220,081$191,654$24,085$898,555
77$1,264,005$120,521$0$901,079
78$1,309,873$43,366$0$916,589
79$1,357,804$0$0$938,585
80$1,407,924$0$0$966,934
81$1,460,373$0$0$1,003,105
82$1,515,299$0$0$1,040,998
83$1,572,867$0$0$1,080,726
84$1,633,251$0$0$1,122,413
85$1,696,643$0$0$1,166,193
86$1,763,250$0$0$1,212,212
87$1,833,297$0$0$1,260,626
88$1,907,031$0$0$1,311,610
89$1,984,718$0$0$1,365,349
90$2,066,648$0$0$1,422,049
91$2,153,139$0$0$1,481,931
92$2,244,537$0$0$1,545,238
93$2,341,219$0$0$1,612,235
94$2,443,595$0$0$1,683,211
95$2,552,117$0$0$1,758,483
96$2,667,275$0$0$1,838,395
97$2,789,607$0$0$1,923,325
98$2,919,700$0$0$2,013,687
99$3,058,197$0$0$2,109,933
100$3,205,803$0$0$2,212,557