Can I retire at age 62 with 507,000?

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 $507,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$41,868$41,495$41,131$40,776$40,429$38,856
2 years$20,727$20,341$19,966$19,604$19,252$17,686
3 years$13,680$13,293$12,920$12,560$12,214$10,705
4 years$10,158$9,772$9,402$9,049$8,711$7,270
5 years$8,045$7,661$7,296$6,950$6,622$5,252
6 years$6,637$6,256$5,897$5,558$5,240$3,943
7 years$5,632$5,254$4,900$4,570$4,261$3,036
8 years$4,878$4,503$4,156$3,834$3,535$2,381
9 years$4,292$3,921$3,579$3,265$2,977$1,892
10 years$3,824$3,456$3,121$2,815$2,537$1,519
11 years$3,441$3,077$2,747$2,450$2,182$1,229
12 years$3,122$2,762$2,438$2,149$1,891$1,000
13 years$2,852$2,496$2,178$1,897$1,649$818
14 years$2,621$2,268$1,957$1,684$1,445$672
15 years$2,421$2,072$1,767$1,502$1,272$553
16 years$2,246$1,901$1,602$1,345$1,125$457
17 years$2,092$1,751$1,458$1,208$997$378
18 years$1,955$1,618$1,331$1,089$887$313
19 years$1,833$1,500$1,218$984$790$260
20 years$1,723$1,393$1,118$891$706$216
21 years$1,624$1,298$1,028$809$632$179
22 years$1,534$1,212$948$735$566$149
23 years$1,451$1,133$875$670$508$124
24 years$1,376$1,062$809$611$457$104
25 years$1,307$996$750$558$411$86
26 years$1,243$936$695$510$370$72
27 years$1,185$881$646$467$334$60
28 years$1,130$830$600$428$301$50
29 years$1,079$783$559$392$272$42
30 years$1,032$740$520$360$246$35
31 years$988$699$485$331$222$29
32 years$947$662$453$304$201$24
33 years$908$627$423$279$182$20
34 years$872$594$395$257$165$17
35 years$837$563$369$237$149$14
36 years$805$535$345$218$135$12
37 years$775$508$323$201$122$10
38 years$746$483$303$185$111$8
39 years$719$459$284$171$101$7
40 years$693$437$266$157$91$6
41 years$669$416$249$145$83$5
42 years$645$396$234$134$75$4
43 years$623$377$219$124$68$3
44 years$602$360$206$114$62$3
45 years$582$343$193$105$56$2
46 years$563$327$182$97$51$2
47 years$545$312$171$90$46$2
48 years$528$298$160$83$42$1
49 years$511$285$151$77$38$1
50 years$495$272$142$71$35$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $507,000, adding $2,998 every year, while hoping to spend $36,720 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: 35/45/20 Blend
61$507,000$507,000$507,000$507,000
62$561,806$534,935$527,077$577,953
63$580,041$522,077$505,664$577,207
64$598,905$507,359$482,303$572,786
65$618,423$490,649$456,891$567,255
66$638,623$471,812$429,317$560,539
67$659,532$450,700$399,469$552,556
68$681,181$427,161$367,228$543,219
69$703,601$401,032$332,470$532,440
70$726,825$372,139$295,064$520,123
71$750,889$340,302$254,877$506,168
72$775,831$305,328$211,766$490,469
73$801,689$267,013$165,584$472,915
74$828,507$225,142$116,177$453,389
75$856,329$179,488$63,383$431,768
76$885,204$129,812$7,035$407,924
77$915,182$75,860$0$381,719
78$946,318$17,364$0$364,342
79$978,670$0$0$346,650
80$1,012,300$0$0$349,781
81$1,047,276$0$0$361,990
82$1,083,668$0$0$374,706
83$1,121,554$0$0$387,955
84$1,161,015$0$0$401,770
85$1,202,142$0$0$416,182
86$1,245,028$0$0$431,228
87$1,289,777$0$0$446,945
88$1,336,500$0$0$463,374
89$1,385,316$0$0$480,561
90$1,436,355$0$0$498,554
91$1,489,757$0$0$517,404
92$1,545,673$0$0$537,169
93$1,604,267$0$0$557,910
94$1,665,717$0$0$579,695
95$1,730,217$0$0$602,595
96$1,797,975$0$0$626,690
97$1,869,219$0$0$652,065
98$1,944,198$0$0$678,814
99$2,023,180$0$0$707,039
100$2,106,461$0$0$736,851