Can I retire at age 62 with 503,000?

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 $503,000?

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$41,537$41,167$40,806$40,454$40,110$38,842
2 years$20,563$20,180$19,809$19,449$19,100$17,834
3 years$13,572$13,188$12,818$12,461$12,118$10,893
4 years$10,078$9,694$9,328$8,978$8,643$7,469
5 years$7,982$7,601$7,239$6,896$6,570$5,451
6 years$6,585$6,206$5,850$5,514$5,199$4,135
7 years$5,587$5,212$4,861$4,534$4,228$3,219
8 years$4,839$4,468$4,123$3,803$3,507$2,553
9 years$4,258$3,890$3,551$3,240$2,954$2,053
10 years$3,793$3,429$3,096$2,793$2,517$1,668
11 years$3,413$3,053$2,726$2,430$2,164$1,366
12 years$3,097$2,740$2,419$2,132$1,876$1,126
13 years$2,829$2,476$2,161$1,882$1,636$933
14 years$2,600$2,251$1,942$1,671$1,434$776
15 years$2,402$2,056$1,753$1,490$1,262$648
16 years$2,228$1,886$1,589$1,334$1,116$542
17 years$2,076$1,737$1,446$1,199$989$455
18 years$1,940$1,605$1,320$1,080$880$382
19 years$1,819$1,488$1,209$976$784$322
20 years$1,710$1,382$1,109$884$700$271
21 years$1,611$1,288$1,020$802$627$229
22 years$1,522$1,202$940$729$562$193
23 years$1,440$1,124$868$664$504$164
24 years$1,365$1,053$803$606$453$138
25 years$1,297$989$744$553$408$117
26 years$1,234$929$690$506$367$99
27 years$1,175$874$641$463$331$84
28 years$1,121$824$595$424$299$71
29 years$1,071$777$554$389$270$60
30 years$1,024$734$516$357$244$51
31 years$980$694$481$328$220$43
32 years$939$657$449$301$199$37
33 years$901$622$419$277$180$31
34 years$865$589$392$255$163$26
35 years$831$559$366$235$148$22
36 years$799$531$343$216$134$19
37 years$769$504$321$199$122$16
38 years$740$479$300$184$110$14
39 years$713$455$281$169$100$12
40 years$688$433$264$156$91$10
41 years$663$412$247$144$82$8
42 years$640$393$232$133$75$7
43 years$618$374$218$123$68$6
44 years$598$357$204$113$61$5
45 years$578$340$192$105$56$4
46 years$559$324$180$97$51$4
47 years$541$310$169$89$46$3
48 years$523$296$159$83$42$3
49 years$507$282$149$76$38$2
50 years$491$270$141$71$34$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $503,000, adding $4,469 every year, while hoping to spend $29,466 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: 57/14/29 Blend
61$503,000$503,000$503,000$503,000
62$558,916$532,257$524,460$586,089
63$584,574$526,986$510,678$599,988
64$611,861$520,469$495,447$611,679
65$640,913$512,614$478,686$623,827
66$671,877$503,323$460,314$636,485
67$704,916$492,494$440,242$649,713
68$740,207$480,016$418,379$663,579
69$777,945$465,773$394,631$678,160
70$818,342$449,642$368,898$693,542
71$861,632$431,494$341,076$709,823
72$908,073$411,191$311,056$727,109
73$957,945$388,588$278,725$745,524
74$1,011,557$363,531$243,964$765,202
75$1,069,248$335,856$206,649$786,296
76$1,131,391$305,393$166,652$808,976
77$1,198,395$271,959$123,836$833,432
78$1,270,709$235,363$78,062$859,875
79$1,348,826$195,400$29,182$888,542
80$1,433,289$151,857$0$919,696
81$1,524,693$104,508$0$960,741
82$1,623,696$53,112$0$1,014,992
83$1,731,016$0$0$1,073,824
84$1,847,446$0$0$1,138,094
85$1,973,859$0$0$1,216,794
86$2,111,211$0$0$1,302,344
87$2,260,558$0$0$1,395,406
88$2,423,060$0$0$1,496,706
89$2,599,992$0$0$1,607,047
90$2,792,759$0$0$1,727,309
91$3,002,908$0$0$1,858,463
92$3,232,137$0$0$2,001,577
93$3,482,321$0$0$2,157,824
94$3,755,519$0$0$2,328,500
95$4,054,001$0$0$2,515,027
96$4,380,263$0$0$2,718,975
97$4,737,056$0$0$2,942,069
98$5,127,407$0$0$3,186,210
99$5,554,649$0$0$3,453,491
100$6,022,454$0$0$3,746,216