Can I retire at age 62 with 504,000?

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 $504,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$41,620$41,249$40,887$40,534$40,190$39,920
2 years$20,604$20,220$19,848$19,488$19,138$18,866
3 years$13,599$13,214$12,843$12,486$12,142$11,876
4 years$10,098$9,714$9,347$8,995$8,660$8,402
5 years$7,998$7,616$7,253$6,909$6,583$6,334
6 years$6,598$6,219$5,862$5,525$5,209$4,969
7 years$5,598$5,223$4,871$4,543$4,236$4,006
8 years$4,849$4,477$4,131$3,811$3,514$3,293
9 years$4,267$3,898$3,558$3,246$2,960$2,748
10 years$3,801$3,436$3,102$2,798$2,522$2,319
11 years$3,420$3,059$2,731$2,435$2,169$1,975
12 years$3,103$2,745$2,424$2,136$1,879$1,695
13 years$2,835$2,481$2,165$1,886$1,639$1,463
14 years$2,605$2,255$1,946$1,674$1,437$1,269
15 years$2,407$2,060$1,757$1,493$1,265$1,106
16 years$2,233$1,890$1,593$1,337$1,118$967
17 years$2,080$1,741$1,449$1,201$991$848
18 years$1,944$1,608$1,323$1,082$881$746
19 years$1,822$1,491$1,211$978$786$657
20 years$1,713$1,385$1,112$886$702$580
21 years$1,614$1,290$1,022$804$628$513
22 years$1,525$1,204$942$731$563$455
23 years$1,443$1,126$870$666$505$403
24 years$1,368$1,055$805$607$454$358
25 years$1,299$990$745$554$409$318
26 years$1,236$931$691$507$368$283
27 years$1,178$876$642$464$332$252
28 years$1,123$826$597$425$299$225
29 years$1,073$779$555$390$270$200
30 years$1,026$735$517$358$244$179
31 years$982$695$482$329$221$160
32 years$941$658$450$302$200$142
33 years$903$623$420$278$181$127
34 years$866$590$392$256$164$114
35 years$832$560$367$235$148$102
36 years$800$532$343$217$134$91
37 years$770$505$321$200$122$81
38 years$742$480$301$184$110$73
39 years$715$456$282$170$100$65
40 years$689$434$264$156$91$58
41 years$665$413$248$144$82$52
42 years$642$394$232$133$75$47
43 years$620$375$218$123$68$42
44 years$599$357$205$114$62$37
45 years$579$341$192$105$56$33
46 years$560$325$181$97$51$30
47 years$542$310$170$89$46$27
48 years$524$296$159$83$42$24
49 years$508$283$150$76$38$21
50 years$492$270$141$71$35$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $504,000, adding $3,773 every year, while hoping to spend $31,123 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: 61/24/15 Blend
61$504,000$504,000$504,000$504,000
62$559,300$532,588$524,776$591,103
63$583,234$525,570$509,241$605,940
64$608,566$517,165$492,143$618,285
65$635,406$507,273$473,396$631,015
66$663,874$495,785$452,911$644,172
67$694,100$482,590$430,595$657,800
68$726,229$467,568$406,351$671,951
69$760,417$450,592$380,077$686,681
70$796,836$431,527$351,665$702,058
71$835,674$410,232$321,006$718,153
72$877,136$386,556$287,983$735,051
73$921,448$360,342$252,475$752,843
74$968,858$331,421$214,355$771,634
75$1,019,636$299,615$173,490$791,542
76$1,074,080$264,737$129,744$812,697
77$1,132,516$226,590$82,970$835,247
78$1,195,303$184,963$33,020$859,357
79$1,262,833$139,635$0$885,211
80$1,335,537$90,372$0$916,262
81$1,413,890$36,929$0$955,343
82$1,498,412$0$0$997,449
83$1,589,675$0$0$1,048,429
84$1,688,308$0$0$1,114,095
85$1,795,000$0$0$1,185,160
86$1,910,511$0$0$1,262,132
87$2,035,675$0$0$1,345,573
88$2,171,410$0$0$1,436,097
89$2,318,725$0$0$1,534,383
90$2,478,731$0$0$1,641,175
91$2,652,646$0$0$1,757,295
92$2,841,816$0$0$1,883,644
93$3,047,716$0$0$2,021,214
94$3,271,973$0$0$2,171,097
95$3,516,377$0$0$2,334,496
96$3,782,895$0$0$2,512,732
97$4,073,696$0$0$2,707,263
98$4,391,164$0$0$2,919,690
99$4,737,925$0$0$3,151,777
100$5,116,870$0$0$3,405,467