Can I retire at age 62 with 502,000?

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 $502,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$41,455$41,085$40,725$40,374$40,030$39,862
2 years$20,522$20,140$19,770$19,410$19,062$18,892
3 years$13,546$13,162$12,792$12,436$12,094$11,927
4 years$10,058$9,675$9,309$8,960$8,625$8,464
5 years$7,966$7,585$7,224$6,882$6,557$6,401
6 years$6,572$6,194$5,838$5,504$5,188$5,038
7 years$5,576$5,202$4,852$4,525$4,219$4,074
8 years$4,830$4,459$4,115$3,796$3,500$3,361
9 years$4,250$3,882$3,544$3,233$2,948$2,814
10 years$3,786$3,422$3,090$2,787$2,512$2,384
11 years$3,407$3,046$2,720$2,425$2,160$2,038
12 years$3,091$2,734$2,414$2,127$1,872$1,755
13 years$2,824$2,471$2,157$1,878$1,632$1,521
14 years$2,595$2,246$1,938$1,667$1,431$1,325
15 years$2,397$2,052$1,750$1,487$1,260$1,159
16 years$2,224$1,883$1,586$1,331$1,114$1,017
17 years$2,071$1,734$1,443$1,196$987$896
18 years$1,936$1,602$1,318$1,078$878$791
19 years$1,815$1,485$1,206$974$782$700
20 years$1,706$1,380$1,107$882$699$621
21 years$1,608$1,285$1,018$801$625$552
22 years$1,519$1,200$939$728$561$491
23 years$1,437$1,122$867$663$503$437
24 years$1,363$1,051$801$605$452$390
25 years$1,294$987$742$552$407$348
26 years$1,231$927$688$505$367$311
27 years$1,173$873$639$462$331$279
28 years$1,119$822$594$423$298$249
29 years$1,069$776$553$388$269$223
30 years$1,022$733$515$356$243$200
31 years$978$693$480$327$220$180
32 years$937$655$448$301$199$161
33 years$899$621$418$277$180$145
34 years$863$588$391$255$163$130
35 years$829$558$365$234$148$117
36 years$797$529$342$216$134$105
37 years$767$503$320$199$121$94
38 years$739$478$300$183$110$85
39 years$712$454$281$169$100$76
40 years$686$432$263$156$90$69
41 years$662$412$247$144$82$62
42 years$639$392$231$133$74$55
43 years$617$373$217$122$68$50
44 years$596$356$204$113$61$45
45 years$577$339$191$104$56$40
46 years$558$324$180$96$51$36
47 years$540$309$169$89$46$33
48 years$522$295$159$82$42$29
49 years$506$282$149$76$38$27
50 years$490$269$140$70$34$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $502,000, adding $2,381 every year, while hoping to spend $27,282 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: 61/21/18 Blend
61$502,000$502,000$502,000$502,000
62$555,660$529,054$521,273$586,851
63$583,309$525,950$509,708$605,075
64$612,865$521,779$496,841$621,702
65$644,492$516,461$482,600$639,215
66$678,372$509,909$466,908$657,704
67$714,704$502,033$449,688$677,267
68$753,706$492,736$430,856$698,016
69$795,620$481,915$410,325$720,071
70$840,707$469,463$388,004$743,571
71$889,257$455,264$363,800$768,666
72$941,587$439,198$337,613$795,525
73$998,046$421,136$309,341$824,334
74$1,059,017$400,942$278,874$855,301
75$1,124,921$378,472$246,100$888,658
76$1,196,220$353,575$210,902$924,658
77$1,273,424$326,089$173,157$963,587
78$1,357,090$295,845$132,735$1,005,758
79$1,447,835$262,663$89,503$1,051,521
80$1,546,334$226,353$43,321$1,101,262
81$1,653,331$186,715$0$1,155,409
82$1,769,643$143,536$0$1,215,584
83$1,896,171$96,594$0$1,290,121
84$2,033,904$45,651$0$1,371,303
85$2,183,932$0$0$1,459,808
86$2,347,454$0$0$1,558,588
87$2,525,790$0$0$1,677,857
88$2,720,391$0$0$1,808,041
89$2,932,855$0$0$1,950,213
90$3,164,943$0$0$2,105,556
91$3,418,592$0$0$2,275,371
92$3,695,934$0$0$2,461,092
93$3,999,317$0$0$2,664,295
94$4,331,326$0$0$2,886,719
95$4,694,809$0$0$3,130,275
96$5,092,900$0$0$3,397,072
97$5,529,052$0$0$3,689,428
98$6,007,067$0$0$4,009,899
99$6,531,132$0$0$4,361,298
100$7,105,860$0$0$4,746,726