Can I retire at age 62 with 514,000?

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 $514,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$42,446$42,068$41,699$41,339$40,987$40,475
2 years$21,013$20,621$20,242$19,874$19,518$19,002
3 years$13,869$13,476$13,098$12,734$12,383$11,880
4 years$10,298$9,906$9,532$9,174$8,832$8,346
5 years$8,156$7,767$7,397$7,046$6,714$6,246
6 years$6,729$6,342$5,978$5,635$5,312$4,863
7 years$5,709$5,326$4,968$4,633$4,320$3,890
8 years$4,945$4,566$4,213$3,886$3,584$3,173
9 years$4,351$3,975$3,629$3,310$3,018$2,626
10 years$3,876$3,504$3,164$2,854$2,572$2,197
11 years$3,488$3,119$2,785$2,483$2,212$1,855
12 years$3,165$2,800$2,472$2,178$1,917$1,578
13 years$2,891$2,530$2,208$1,923$1,671$1,350
14 years$2,657$2,300$1,984$1,707$1,465$1,160
15 years$2,454$2,101$1,791$1,522$1,290$1,001
16 years$2,277$1,928$1,624$1,363$1,140$867
17 years$2,121$1,775$1,478$1,225$1,011$753
18 years$1,982$1,640$1,349$1,104$899$656
19 years$1,858$1,520$1,235$997$801$572
20 years$1,747$1,413$1,134$903$716$500
21 years$1,646$1,316$1,043$820$640$438
22 years$1,555$1,228$961$745$574$384
23 years$1,472$1,149$887$679$515$337
24 years$1,395$1,076$821$619$463$296
25 years$1,325$1,010$760$565$417$260
26 years$1,261$949$705$517$375$229
27 years$1,201$893$655$473$338$202
28 years$1,146$842$608$434$305$178
29 years$1,094$794$566$398$276$157
30 years$1,046$750$527$365$249$138
31 years$1,002$709$492$335$225$122
32 years$960$671$459$308$204$107
33 years$920$635$428$283$184$95
34 years$884$602$400$261$167$84
35 years$849$571$374$240$151$74
36 years$816$542$350$221$137$65
37 years$786$515$328$204$124$58
38 years$756$489$307$188$113$51
39 years$729$465$287$173$102$45
40 years$703$443$269$160$93$40
41 years$678$421$253$147$84$35
42 years$654$401$237$136$76$31
43 years$632$382$222$125$69$28
44 years$611$364$209$116$63$24
45 years$590$348$196$107$57$22
46 years$571$332$184$99$52$19
47 years$553$316$173$91$47$17
48 years$535$302$163$84$43$15
49 years$518$288$153$78$39$13
50 years$502$276$144$72$35$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $514,000, adding $3,781 every year, while hoping to spend $34,779 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: 57/36/7 Blend
61$514,000$514,000$514,000$514,000
62$570,328$543,086$535,119$601,745
63$591,497$532,693$516,041$612,933
64$613,659$520,624$495,158$620,877
65$636,880$506,762$472,373$628,673
66$661,229$490,981$447,585$636,312
67$686,782$473,147$420,687$643,782
68$713,622$453,119$391,568$651,075
69$741,839$430,749$360,113$658,181
70$771,530$405,879$326,200$665,096
71$802,800$378,342$289,702$671,812
72$835,767$347,962$250,488$678,326
73$870,555$314,552$208,419$684,638
74$907,302$277,915$163,352$690,749
75$946,158$237,844$115,135$696,663
76$987,285$194,118$63,612$702,389
77$1,030,864$146,505$8,618$707,939
78$1,077,088$94,759$0$713,332
79$1,126,170$38,622$0$722,329
80$1,178,345$0$0$732,152
81$1,233,866$0$0$750,992
82$1,293,013$0$0$787,388
83$1,356,092$0$0$826,229
84$1,423,438$0$0$867,725
85$1,495,418$0$0$912,107
86$1,572,433$0$0$959,626
87$1,654,924$0$0$1,010,558
88$1,743,377$0$0$1,065,206
89$1,838,320$0$0$1,123,902
90$1,940,337$0$0$1,187,012
91$2,050,066$0$0$1,254,936
92$2,168,210$0$0$1,328,114
93$2,295,539$0$0$1,407,029
94$2,432,901$0$0$1,492,212
95$2,581,224$0$0$1,584,247
96$2,741,532$0$0$1,683,773
97$2,914,948$0$0$1,791,496
98$3,102,706$0$0$1,908,190
99$3,306,164$0$0$2,034,707
100$3,526,814$0$0$2,171,982