Can I retire at age 62 with 506,000?

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 $506,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$41,785$41,413$41,050$40,695$40,349$39,944
2 years$20,686$20,300$19,927$19,565$19,214$18,806
3 years$13,653$13,267$12,894$12,535$12,190$11,792
4 years$10,138$9,752$9,384$9,031$8,694$8,309
5 years$8,029$7,646$7,282$6,937$6,609$6,238
6 years$6,624$6,243$5,885$5,547$5,230$4,873
7 years$5,621$5,243$4,890$4,561$4,253$3,911
8 years$4,868$4,494$4,147$3,826$3,528$3,201
9 years$4,284$3,913$3,572$3,259$2,971$2,658
10 years$3,816$3,449$3,114$2,809$2,532$2,233
11 years$3,434$3,071$2,742$2,445$2,177$1,892
12 years$3,115$2,756$2,433$2,144$1,887$1,615
13 years$2,846$2,491$2,174$1,893$1,645$1,387
14 years$2,616$2,264$1,953$1,681$1,442$1,197
15 years$2,416$2,068$1,764$1,499$1,270$1,037
16 years$2,242$1,898$1,599$1,342$1,122$902
17 years$2,088$1,748$1,455$1,206$995$787
18 years$1,951$1,615$1,328$1,087$885$688
19 years$1,829$1,497$1,216$982$789$603
20 years$1,720$1,391$1,116$889$704$529
21 years$1,621$1,295$1,026$807$630$465
22 years$1,531$1,209$946$734$565$410
23 years$1,449$1,131$873$668$507$361
24 years$1,374$1,060$808$610$456$319
25 years$1,305$994$748$557$410$282
26 years$1,241$935$694$509$370$249
27 years$1,182$880$644$466$333$220
28 years$1,128$829$599$427$301$195
29 years$1,077$782$557$391$271$173
30 years$1,030$738$519$359$245$153
31 years$986$698$484$330$222$136
32 years$945$660$452$303$201$120
33 years$906$625$422$279$182$107
34 years$870$593$394$257$164$95
35 years$836$562$368$236$149$84
36 years$804$534$345$218$135$75
37 years$773$507$323$200$122$66
38 years$745$482$302$185$111$59
39 years$717$458$283$170$101$52
40 years$692$436$265$157$91$47
41 years$667$415$249$145$83$41
42 years$644$395$233$134$75$37
43 years$622$376$219$123$68$33
44 years$601$359$205$114$62$29
45 years$581$342$193$105$56$26
46 years$562$326$181$97$51$23
47 years$544$312$170$90$46$20
48 years$527$297$160$83$42$18
49 years$510$284$150$77$38$16
50 years$494$271$141$71$35$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $506,000, adding $4,267 every year, while hoping to spend $21,358 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: 25/47/28 Blend
61$506,000$506,000$506,000$506,000
62$562,013$535,195$527,352$571,052
63$596,614$538,695$522,294$582,417
64$634,028$541,651$516,350$592,504
65$674,520$544,013$509,469$602,875
66$718,380$545,729$501,596$613,570
67$765,929$546,743$492,673$624,634
68$817,517$546,997$482,641$636,115
69$873,531$546,427$471,437$648,073
70$934,397$544,968$458,995$660,571
71$1,000,581$542,547$445,247$673,684
72$1,072,599$539,090$430,122$687,497
73$1,151,016$534,518$413,543$702,104
74$1,236,456$528,745$395,433$717,612
75$1,329,604$521,683$375,709$734,143
76$1,431,214$513,236$354,286$751,833
77$1,542,117$503,304$331,073$770,835
78$1,663,227$491,780$305,979$791,321
79$1,795,551$478,551$278,903$813,485
80$1,940,196$463,499$249,745$837,544
81$2,098,381$446,496$218,398$863,740
82$2,271,451$427,410$184,749$892,345
83$2,460,884$406,097$148,682$923,664
84$2,668,307$382,409$110,077$958,036
85$2,895,515$356,188$68,805$995,840
86$3,144,482$327,265$24,734$1,037,499
87$3,417,382$295,464$0$1,083,486
88$3,716,612$260,599$0$1,140,988
89$4,044,808$222,470$0$1,212,248
90$4,404,877$180,870$0$1,290,566
91$4,800,020$135,578$0$1,376,714
92$5,233,761$86,361$0$1,471,550
93$5,709,985$32,972$0$1,576,020
94$6,232,968$0$0$1,691,174
95$6,807,423$0$0$1,831,028
96$7,438,541$0$0$2,003,502
97$8,132,041$0$0$2,193,118
98$8,894,224$0$0$2,401,610
99$9,732,030$0$0$2,630,890
100$10,653,105$0$0$2,883,063