How much money do you need to retire at age 62

Our simple widget lets you see the impact of these 2 variables—when you plan to retire and what kind of lifestyle you want to live in retirement—on how much you need to have saved when you do retire, and on all the intermediate milestones.

What if you're behind?

How much money needed to retire at age 65

If you're under age 40, the simple answer is to save more and invest for growth through a diversified investment mix. Of course, stocks come with more ups and downs than bonds or cash, so you need to be comfortable with those risks.

If you're over 40, the answer may be a combination of increased savings, reduced spending, and working longer, if possible.

No matter what your age, focus on the goals ahead. Don't be discouraged if you aren't at your nearest milestone—there are ways to catch up to future milestones through planning and saving.

The key is to take action, and the earlier the better.