Can I retire at age 62 with 686,000?

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 $686,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$56,649$56,145$55,652$55,172$54,703$52,973
2 years$28,044$27,522$27,016$26,525$26,049$24,322
3 years$18,510$17,986$17,481$16,995$16,526$14,856
4 years$13,744$13,222$12,722$12,244$11,787$10,186
5 years$10,886$10,366$9,873$9,404$8,960$7,434
6 years$8,980$8,464$7,978$7,521$7,090$5,639
7 years$7,620$7,108$6,630$6,183$5,766$4,390
8 years$6,600$6,093$5,623$5,187$4,783$3,482
9 years$5,807$5,305$4,843$4,418$4,028$2,799
10 years$5,174$4,676$4,222$3,808$3,432$2,274
11 years$4,655$4,163$3,717$3,315$2,952$1,863
12 years$4,224$3,737$3,299$2,907$2,558$1,536
13 years$3,859$3,377$2,947$2,567$2,231$1,272
14 years$3,546$3,069$2,648$2,278$1,955$1,058
15 years$3,276$2,804$2,391$2,032$1,722$883
16 years$3,039$2,573$2,168$1,819$1,522$740
17 years$2,831$2,369$1,973$1,635$1,349$620
18 years$2,646$2,189$1,801$1,473$1,200$521
19 years$2,480$2,029$1,648$1,331$1,069$439
20 years$2,331$1,885$1,513$1,206$955$370
21 years$2,197$1,756$1,392$1,094$855$312
22 years$2,075$1,639$1,283$995$766$264
23 years$1,964$1,533$1,184$906$688$223
24 years$1,862$1,437$1,095$826$618$189
25 years$1,769$1,348$1,014$755$556$160
26 years$1,682$1,267$941$690$501$135
27 years$1,603$1,192$874$632$452$114
28 years$1,529$1,124$812$579$408$97
29 years$1,460$1,060$756$531$368$82
30 years$1,396$1,001$704$487$333$70
31 years$1,337$946$656$447$301$59
32 years$1,281$895$612$411$272$50
33 years$1,229$848$572$378$246$43
34 years$1,179$804$534$348$223$36
35 years$1,133$762$499$320$202$31
36 years$1,090$724$467$295$183$26
37 years$1,048$687$437$272$166$22
38 years$1,010$653$409$250$150$19
39 years$973$621$384$231$136$16
40 years$938$591$360$213$124$13
41 years$905$562$337$196$112$11
42 years$873$536$316$181$102$10
43 years$844$510$297$167$92$8
44 years$815$486$279$155$84$7
45 years$788$464$262$143$76$6
46 years$762$443$246$132$69$5
47 years$737$422$231$122$63$4
48 years$714$403$217$113$57$4
49 years$691$385$204$104$52$3
50 years$670$368$192$96$47$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $686,000, adding $4,575 every year, while hoping to spend $54,170 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: 53/39/8 Blend
61$686,000$686,000$686,000$686,000
62$760,691$724,333$713,700$799,272
63$780,645$702,189$679,973$803,808
64$800,819$677,144$643,300$802,450
65$821,178$649,000$603,525$799,680
66$841,681$617,544$560,487$795,375
67$862,284$582,555$514,014$789,402
68$882,932$543,795$463,929$781,620
69$903,567$501,017$410,047$771,877
70$924,119$453,955$352,172$760,008
71$944,513$402,332$290,102$745,839
72$964,659$345,852$223,627$729,179
73$984,460$284,205$152,524$709,827
74$1,003,805$217,061$76,564$687,564
75$1,022,570$144,074$0$662,156
76$1,040,614$64,876$0$633,734
77$1,057,782$0$0$608,642
78$1,073,899$0$0$589,047
79$1,088,768$0$0$596,530
80$1,102,172$0$0$603,118
81$1,113,867$0$0$608,669
82$1,123,582$0$0$613,024
83$1,131,015$0$0$616,004
84$1,135,831$0$0$617,412
85$1,137,655$0$0$617,029
86$1,136,074$0$0$614,611
87$1,130,626$0$0$609,889
88$1,120,801$0$0$602,560
89$1,106,031$0$0$592,294
90$1,085,688$0$0$578,721
91$1,059,076$0$0$561,434
92$1,025,423$0$0$539,979
93$983,875$0$0$513,856
94$933,485$0$0$482,510
95$873,206$0$0$445,329
96$801,882$0$0$401,634
97$718,229$0$0$350,674
98$620,833$0$0$291,621
99$508,127$0$0$223,558
100$378,380$0$0$145,472