Can I retire at age 62 with 517,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $517,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$42,693$42,313$41,942$41,580$41,226$40,328
2 years$21,135$20,742$20,360$19,990$19,632$18,731
3 years$13,950$13,555$13,174$12,808$12,455$11,580
4 years$10,358$9,964$9,588$9,227$8,883$8,041
5 years$8,204$7,812$7,440$7,088$6,753$5,946
6 years$6,768$6,379$6,013$5,668$5,343$4,572
7 years$5,743$5,357$4,997$4,660$4,345$3,610
8 years$4,974$4,592$4,238$3,909$3,605$2,906
9 years$4,377$3,998$3,650$3,330$3,036$2,372
10 years$3,899$3,524$3,182$2,870$2,587$1,957
11 years$3,508$3,137$2,801$2,498$2,225$1,629
12 years$3,183$2,816$2,486$2,191$1,928$1,365
13 years$2,908$2,545$2,221$1,934$1,681$1,150
14 years$2,673$2,313$1,996$1,717$1,474$973
15 years$2,469$2,113$1,802$1,531$1,298$827
16 years$2,291$1,939$1,634$1,371$1,147$705
17 years$2,133$1,786$1,487$1,232$1,017$602
18 years$1,994$1,650$1,357$1,110$904$515
19 years$1,869$1,529$1,242$1,003$806$442
20 years$1,757$1,421$1,140$909$720$380
21 years$1,656$1,324$1,049$825$644$327
22 years$1,564$1,235$967$750$577$281
23 years$1,480$1,156$892$683$518$243
24 years$1,403$1,083$825$623$466$209
25 years$1,333$1,016$764$569$419$181
26 years$1,268$955$709$520$378$156
27 years$1,208$899$658$476$340$135
28 years$1,152$847$612$436$307$117
29 years$1,101$799$570$400$277$101
30 years$1,052$754$531$367$251$87
31 years$1,007$713$495$337$227$76
32 years$965$675$461$310$205$66
33 years$926$639$431$285$185$57
34 years$889$606$403$262$168$49
35 years$854$574$376$241$152$43
36 years$821$545$352$222$138$37
37 years$790$518$330$205$125$32
38 years$761$492$309$189$113$28
39 years$733$468$289$174$103$24
40 years$707$445$271$161$93$21
41 years$682$424$254$148$85$18
42 years$658$404$238$137$77$16
43 years$636$385$224$126$70$14
44 years$614$367$210$116$63$12
45 years$594$350$197$108$57$10
46 years$574$334$185$99$52$9
47 years$556$318$174$92$47$8
48 years$538$304$163$85$43$7
49 years$521$290$154$78$39$6
50 years$505$277$144$72$35$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $517,000, adding $6,326 every year, while hoping to spend $41,815 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: 56/30/14 Blend
61$517,000$517,000$517,000$517,000
62$576,259$548,858$540,845$606,102
63$590,547$531,261$514,472$609,469
64$604,890$511,401$485,815$608,032
65$619,251$489,122$454,752$605,499
66$633,586$464,260$421,157$601,774
67$647,844$436,641$384,898$596,753
68$661,971$406,083$345,839$590,324
69$675,902$372,391$303,834$582,366
70$689,565$335,359$258,734$572,748
71$702,881$294,772$210,382$561,330
72$715,759$250,401$158,614$547,960
73$728,098$202,002$103,259$532,476
74$739,785$149,320$44,139$514,702
75$750,692$92,086$0$494,446
76$760,679$30,014$0$474,336
77$769,586$0$0$458,539
78$777,239$0$0$452,525
79$783,441$0$0$455,498
80$787,974$0$0$457,413
81$790,594$0$0$458,121
82$791,032$0$0$457,454
83$788,989$0$0$455,226
84$784,132$0$0$451,230
85$776,091$0$0$445,239
86$764,457$0$0$436,998
87$748,776$0$0$426,226
88$728,546$0$0$412,612
89$703,209$0$0$395,811
90$672,149$0$0$375,441
91$634,683$0$0$351,080
92$590,055$0$0$322,261
93$537,431$0$0$288,467
94$475,885$0$0$249,125
95$404,397$0$0$203,605
96$321,835$0$0$151,207
97$226,953$0$0$91,160
98$118,369$0$0$22,610
99$0$0$0$0
100$0$0$0$0