Can I retire at age 62 with 530,000?

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 $530,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$43,767$43,377$42,997$42,625$42,263$41,614
2 years$21,667$21,263$20,872$20,493$20,125$19,473
3 years$14,301$13,896$13,506$13,130$12,768$12,133
4 years$10,619$10,215$9,829$9,459$9,106$8,493
5 years$8,410$8,009$7,627$7,266$6,923$6,333
6 years$6,938$6,540$6,164$5,811$5,478$4,912
7 years$5,887$5,492$5,122$4,777$4,455$3,914
8 years$5,099$4,708$4,344$4,007$3,696$3,180
9 years$4,487$4,099$3,742$3,413$3,112$2,620
10 years$3,997$3,613$3,262$2,942$2,652$2,184
11 years$3,597$3,216$2,872$2,561$2,281$1,836
12 years$3,263$2,887$2,549$2,246$1,976$1,554
13 years$2,981$2,609$2,277$1,983$1,723$1,324
14 years$2,740$2,371$2,046$1,760$1,511$1,132
15 years$2,531$2,166$1,847$1,570$1,330$973
16 years$2,348$1,988$1,675$1,406$1,176$838
17 years$2,187$1,830$1,524$1,263$1,042$724
18 years$2,044$1,691$1,391$1,138$927$628
19 years$1,916$1,568$1,274$1,028$826$545
20 years$1,801$1,457$1,169$931$738$474
21 years$1,697$1,357$1,075$845$660$412
22 years$1,603$1,267$991$769$592$360
23 years$1,517$1,185$915$700$531$314
24 years$1,439$1,110$846$638$478$274
25 years$1,366$1,042$784$583$430$240
26 years$1,300$979$727$533$387$210
27 years$1,238$921$675$488$349$184
28 years$1,181$868$627$447$315$161
29 years$1,128$819$584$410$284$141
30 years$1,079$773$544$376$257$124
31 years$1,033$731$507$346$232$109
32 years$990$692$473$318$210$95
33 years$949$655$442$292$190$84
34 years$911$621$413$269$172$73
35 years$875$589$386$247$156$64
36 years$842$559$361$228$141$57
37 years$810$531$338$210$128$50
38 years$780$505$316$193$116$44
39 years$752$480$296$178$105$38
40 years$725$456$278$165$95$34
41 years$699$435$261$152$87$30
42 years$675$414$244$140$79$26
43 years$652$394$229$129$71$23
44 years$630$376$215$119$65$20
45 years$609$358$202$110$59$18
46 years$589$342$190$102$53$16
47 years$570$326$178$94$48$14
48 years$552$311$168$87$44$12
49 years$534$297$158$80$40$11
50 years$517$284$148$74$36$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $530,000, adding $4,836 every year, while hoping to spend $28,295 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: 56/37/7 Blend
61$530,000$530,000$530,000$530,000
62$589,048$560,958$552,743$620,839
63$619,026$558,340$541,155$640,207
64$651,112$554,644$528,229$657,713
65$685,493$549,790$513,893$676,085
66$722,373$543,688$498,067$695,409
67$761,973$536,247$480,670$715,781
68$804,538$527,367$461,617$737,307
69$850,338$516,945$440,818$760,108
70$899,667$504,870$418,180$784,314
71$952,850$491,026$393,606$810,074
72$1,010,242$475,287$366,993$837,552
73$1,072,234$457,523$338,234$866,930
74$1,139,256$437,596$307,220$898,413
75$1,211,780$415,359$273,832$932,227
76$1,290,326$390,656$237,950$968,622
77$1,375,465$363,323$199,446$1,007,879
78$1,467,824$333,187$158,189$1,050,307
79$1,568,093$300,065$114,039$1,096,253
80$1,677,032$263,761$66,853$1,146,098
81$1,795,476$224,073$16,480$1,200,268
82$1,924,344$180,782$0$1,259,235
83$2,064,647$133,660$0$1,326,306
84$2,217,498$82,466$0$1,400,773
85$2,384,120$26,945$0$1,482,059
86$2,565,862$0$0$1,570,892
87$2,764,206$0$0$1,681,582
88$2,980,785$0$0$1,814,473
89$3,217,396$0$0$1,959,702
90$3,476,017$0$0$2,118,489
91$3,758,826$0$0$2,292,178
92$4,068,223$0$0$2,482,247
93$4,406,846$0$0$2,690,326
94$4,777,605$0$0$2,918,207
95$5,183,700$0$0$3,167,867
96$5,628,659$0$0$3,441,481
97$6,116,365$0$0$3,741,443
98$6,651,094$0$0$4,070,393
99$7,237,558$0$0$4,431,237
100$7,880,945$0$0$4,827,175