Can I retire at age 62 with 524,000?

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 $524,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$43,271$42,886$42,510$42,143$41,784$40,741
2 years$21,422$21,023$20,636$20,261$19,897$18,853
3 years$14,139$13,738$13,353$12,981$12,624$11,611
4 years$10,499$10,099$9,717$9,352$9,003$8,030
5 years$8,315$7,918$7,541$7,184$6,844$5,912
6 years$6,860$6,466$6,094$5,745$5,416$4,527
7 years$5,821$5,430$5,064$4,723$4,404$3,558
8 years$5,042$4,654$4,295$3,962$3,654$2,851
9 years$4,436$4,052$3,699$3,375$3,077$2,316
10 years$3,952$3,572$3,225$2,909$2,622$1,901
11 years$3,556$3,180$2,839$2,532$2,255$1,574
12 years$3,226$2,854$2,520$2,221$1,954$1,312
13 years$2,948$2,579$2,251$1,961$1,704$1,100
14 years$2,709$2,345$2,023$1,740$1,494$926
15 years$2,502$2,142$1,826$1,552$1,315$782
16 years$2,322$1,965$1,656$1,390$1,162$663
17 years$2,162$1,810$1,507$1,249$1,031$563
18 years$2,021$1,672$1,375$1,125$916$479
19 years$1,894$1,550$1,259$1,017$817$409
20 years$1,781$1,440$1,156$921$730$349
21 years$1,678$1,341$1,063$836$653$298
22 years$1,585$1,252$980$760$585$255
23 years$1,500$1,171$905$692$525$219
24 years$1,422$1,097$837$631$472$188
25 years$1,351$1,030$775$576$425$161
26 years$1,285$968$719$527$383$138
27 years$1,224$911$667$482$345$119
28 years$1,168$858$620$442$311$102
29 years$1,115$810$577$405$281$88
30 years$1,067$765$538$372$254$75
31 years$1,021$723$501$342$230$65
32 years$978$684$468$314$208$56
33 years$938$648$437$289$188$48
34 years$901$614$408$266$170$41
35 years$866$582$381$245$154$35
36 years$832$553$357$225$140$31
37 years$801$525$334$208$127$26
38 years$771$499$313$191$115$23
39 years$743$474$293$176$104$19
40 years$716$451$275$163$94$17
41 years$691$430$258$150$86$14
42 years$667$409$242$139$78$12
43 years$644$390$227$128$71$11
44 years$623$372$213$118$64$9
45 years$602$354$200$109$58$8
46 years$582$338$188$101$53$7
47 years$563$323$176$93$48$6
48 years$545$308$166$86$44$5
49 years$528$294$156$79$40$4
50 years$512$281$146$73$36$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $524,000, adding $3,666 every year, while hoping to spend $33,829 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: 32/39/29 Blend
61$524,000$524,000$524,000$524,000
62$581,229$553,457$545,335$594,603
63$604,521$544,583$527,610$596,318
64$629,055$534,140$508,158$594,936
65$654,921$522,016$486,884$592,794
66$682,220$508,091$463,691$589,846
67$711,058$492,240$438,477$586,050
68$741,555$474,328$411,134$581,361
69$773,838$454,215$381,552$575,732
70$808,048$431,750$349,613$569,117
71$844,339$406,776$315,195$561,468
72$882,879$379,125$278,171$552,739
73$923,851$348,621$238,408$542,882
74$967,456$315,075$195,767$531,850
75$1,013,914$278,291$150,103$519,596
76$1,063,466$238,060$101,264$506,075
77$1,116,375$194,161$49,092$491,240
78$1,172,930$146,360$0$475,051
79$1,233,449$94,411$0$459,503
80$1,298,278$38,055$0$458,865
81$1,367,799$0$0$457,951
82$1,442,430$0$0$466,655
83$1,522,629$0$0$493,613
84$1,608,900$0$0$522,671
85$1,701,797$0$0$554,022
86$1,801,925$0$0$587,879
87$1,909,953$0$0$624,476
88$2,026,613$0$0$664,070
89$2,152,710$0$0$706,943
90$2,289,130$0$0$753,407
91$2,436,845$0$0$803,801
92$2,596,925$0$0$858,503
93$2,770,547$0$0$917,924
94$2,959,003$0$0$982,520
95$3,163,716$0$0$1,052,791
96$3,386,250$0$0$1,129,285
97$3,628,329$0$0$1,212,609
98$3,891,844$0$0$1,303,428
99$4,178,881$0$0$1,402,476
100$4,491,734$0$0$1,510,558