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%15.6%
1 years$42,198$41,822$41,455$41,097$40,748$39,811
2 years$20,890$20,501$20,124$19,758$19,404$18,465
3 years$13,788$13,398$13,022$12,659$12,311$11,400
4 years$10,238$9,849$9,476$9,120$8,780$7,904
5 years$8,109$7,721$7,354$7,005$6,674$5,835
6 years$6,689$6,305$5,943$5,602$5,281$4,480
7 years$5,676$5,295$4,939$4,606$4,295$3,531
8 years$4,916$4,539$4,188$3,864$3,563$2,837
9 years$4,326$3,952$3,608$3,291$3,001$2,312
10 years$3,854$3,483$3,145$2,837$2,557$1,904
11 years$3,468$3,101$2,769$2,469$2,199$1,582
12 years$3,146$2,783$2,457$2,166$1,906$1,323
13 years$2,874$2,515$2,195$1,912$1,662$1,112
14 years$2,642$2,286$1,973$1,697$1,457$940
15 years$2,440$2,089$1,781$1,514$1,282$796
16 years$2,264$1,916$1,615$1,355$1,133$677
17 years$2,109$1,765$1,469$1,218$1,005$577
18 years$1,971$1,631$1,341$1,097$894$493
19 years$1,847$1,511$1,228$992$796$422
20 years$1,737$1,404$1,127$898$711$362
21 years$1,637$1,308$1,037$815$637$311
22 years$1,546$1,221$955$741$571$267
23 years$1,463$1,142$882$675$512$230
24 years$1,387$1,070$816$616$460$198
25 years$1,317$1,004$756$562$414$170
26 years$1,253$944$701$514$373$147
27 years$1,194$888$651$470$336$126
28 years$1,139$837$605$431$304$109
29 years$1,088$790$563$395$274$94
30 years$1,040$746$524$363$248$81
31 years$996$705$489$333$224$70
32 years$954$667$456$306$203$61
33 years$915$632$426$282$183$52
34 years$879$599$398$259$166$45
35 years$844$568$372$238$150$39
36 years$812$539$348$220$136$34
37 years$781$512$326$202$123$29
38 years$752$486$305$187$112$25
39 years$725$463$286$172$102$22
40 years$699$440$268$159$92$19
41 years$674$419$251$146$84$16
42 years$651$399$236$135$76$14
43 years$628$380$221$125$69$12
44 years$607$362$208$115$62$11
45 years$587$346$195$106$57$9
46 years$568$330$183$98$51$8
47 years$549$315$172$91$47$7
48 years$532$300$162$84$42$6
49 years$515$287$152$77$39$5
50 years$499$274$143$72$35$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $511,000, adding $4,388 every year, while hoping to spend $27,440 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: 29/50/21 Blend
61$511,000$511,000$511,000$511,000
62$567,648$540,565$532,645$580,261
63$596,352$537,857$521,292$587,611
64$627,065$534,096$508,640$592,764
65$659,961$529,203$494,615$597,725
66$695,234$523,091$479,142$602,493
67$733,096$515,670$462,141$607,073
68$773,779$506,845$443,530$611,469
69$817,537$496,513$423,221$615,692
70$864,651$484,567$401,124$619,755
71$915,427$470,893$377,144$623,676
72$970,205$455,371$351,182$627,477
73$1,029,353$437,872$323,134$631,189
74$1,093,281$418,261$292,893$634,847
75$1,162,436$396,397$260,345$638,494
76$1,237,311$372,126$225,373$642,184
77$1,318,446$345,290$187,852$645,978
78$1,406,437$315,719$147,655$649,951
79$1,501,939$283,234$104,647$654,189
80$1,605,672$247,648$58,687$658,792
81$1,718,427$208,759$9,630$663,877
82$1,841,076$166,358$0$669,579
83$1,974,577$120,221$0$685,626
84$2,119,986$70,113$0$705,548
85$2,278,462$15,786$0$727,424
86$2,451,283$0$0$751,526
87$2,639,855$0$0$801,827
88$2,845,725$0$0$866,302
89$3,070,597$0$0$936,808
90$3,316,347$0$0$1,013,943
91$3,585,038$0$0$1,098,365
92$3,878,944$0$0$1,190,801
93$4,200,568$0$0$1,292,047
94$4,552,665$0$0$1,402,983
95$4,938,271$0$0$1,524,579
96$5,360,728$0$0$1,657,899
97$5,823,716$0$0$1,804,120
98$6,331,288$0$0$1,964,533
99$6,887,911$0$0$2,140,566
100$7,498,500$0$0$2,333,787