Can I retire at age 62 with 511,000?

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 $511,000?

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%
1 years$42,198$41,822$41,455$41,097$40,748$40,559
2 years$20,890$20,501$20,124$19,758$19,404$19,213
3 years$13,788$13,398$13,022$12,659$12,311$12,124
4 years$10,238$9,849$9,476$9,120$8,780$8,599
5 years$8,109$7,721$7,354$7,005$6,674$6,500
6 years$6,689$6,305$5,943$5,602$5,281$5,113
7 years$5,676$5,295$4,939$4,606$4,295$4,133
8 years$4,916$4,539$4,188$3,864$3,563$3,408
9 years$4,326$3,952$3,608$3,291$3,001$2,851
10 years$3,854$3,483$3,145$2,837$2,557$2,414
11 years$3,468$3,101$2,769$2,469$2,199$2,062
12 years$3,146$2,783$2,457$2,166$1,906$1,775
13 years$2,874$2,515$2,195$1,912$1,662$1,537
14 years$2,642$2,286$1,973$1,697$1,457$1,338
15 years$2,440$2,089$1,781$1,514$1,282$1,169
16 years$2,264$1,916$1,615$1,355$1,133$1,026
17 years$2,109$1,765$1,469$1,218$1,005$903
18 years$1,971$1,631$1,341$1,097$894$797
19 years$1,847$1,511$1,228$992$796$705
20 years$1,737$1,404$1,127$898$711$625
21 years$1,637$1,308$1,037$815$637$554
22 years$1,546$1,221$955$741$571$493
23 years$1,463$1,142$882$675$512$439
24 years$1,387$1,070$816$616$460$391
25 years$1,317$1,004$756$562$414$349
26 years$1,253$944$701$514$373$312
27 years$1,194$888$651$470$336$279
28 years$1,139$837$605$431$304$249
29 years$1,088$790$563$395$274$223
30 years$1,040$746$524$363$248$200
31 years$996$705$489$333$224$179
32 years$954$667$456$306$203$161
33 years$915$632$426$282$183$144
34 years$879$599$398$259$166$129
35 years$844$568$372$238$150$116
36 years$812$539$348$220$136$104
37 years$781$512$326$202$123$94
38 years$752$486$305$187$112$84
39 years$725$463$286$172$102$75
40 years$699$440$268$159$92$68
41 years$674$419$251$146$84$61
42 years$651$399$236$135$76$55
43 years$628$380$221$125$69$49
44 years$607$362$208$115$62$44
45 years$587$346$195$106$57$40
46 years$568$330$183$98$51$36
47 years$549$315$172$91$47$32
48 years$532$300$162$84$42$29
49 years$515$287$152$77$39$26
50 years$499$274$143$72$35$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $511,000, adding $2,784 every year, while hoping to spend $28,128 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: 63/13/24 Blend
61$511,000$511,000$511,000$511,000
62$565,994$538,911$530,990$597,919
63$593,797$535,389$518,850$616,311
64$623,494$530,753$505,361$633,024
65$655,247$524,916$490,448$650,650
66$689,236$517,791$474,031$669,283
67$725,657$509,282$456,031$689,025
68$764,726$499,289$436,360$709,991
69$806,679$487,705$414,929$732,308
70$851,776$474,418$391,644$756,119
71$900,301$459,309$366,409$781,581
72$952,568$442,251$339,119$808,867
73$1,008,920$423,111$309,669$838,173
74$1,069,734$401,747$277,948$869,713
75$1,135,425$378,011$243,837$903,727
76$1,206,448$351,744$207,216$940,478
77$1,283,305$322,779$167,957$980,260
78$1,366,547$290,940$125,928$1,023,398
79$1,456,778$256,039$80,990$1,070,254
80$1,554,664$217,879$32,997$1,121,227
81$1,660,937$176,253$0$1,176,758
82$1,776,402$130,939$0$1,242,003
83$1,901,945$81,705$0$1,322,161
84$2,038,541$28,306$0$1,409,416
85$2,187,262$0$0$1,504,475
86$2,349,287$0$0$1,612,342
87$2,525,914$0$0$1,734,380
88$2,718,573$0$0$1,867,528
89$2,928,836$0$0$2,012,880
90$3,158,435$0$0$2,171,635
91$3,409,275$0$0$2,345,117
92$3,683,453$0$0$2,534,782
93$3,983,281$0$0$2,742,231
94$4,311,300$0$0$2,969,231
95$4,670,312$0$0$3,217,725
96$5,063,400$0$0$3,489,853
97$5,493,959$0$0$3,787,971
98$5,965,729$0$0$4,114,675
99$6,482,829$0$0$4,472,823
100$7,049,793$0$0$4,865,563