Can I retire at age 62 with 551,000?

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 $551,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$45,501$45,096$44,700$44,314$43,938$43,317
2 years$22,525$22,106$21,699$21,305$20,923$20,298
3 years$14,868$14,446$14,041$13,650$13,274$12,666
4 years$11,040$10,620$10,218$9,834$9,467$8,880
5 years$8,743$8,326$7,930$7,554$7,197$6,632
6 years$7,213$6,799$6,408$6,041$5,695$5,152
7 years$6,120$5,710$5,325$4,966$4,631$4,112
8 years$5,301$4,894$4,516$4,166$3,842$3,346
9 years$4,665$4,261$3,890$3,549$3,236$2,763
10 years$4,155$3,756$3,391$3,059$2,757$2,306
11 years$3,739$3,344$2,986$2,662$2,371$1,943
12 years$3,393$3,001$2,650$2,335$2,055$1,648
13 years$3,099$2,712$2,367$2,062$1,792$1,406
14 years$2,848$2,465$2,127$1,830$1,571$1,205
15 years$2,631$2,252$1,920$1,632$1,383$1,037
16 years$2,441$2,066$1,741$1,461$1,222$896
17 years$2,274$1,903$1,584$1,313$1,084$776
18 years$2,125$1,758$1,446$1,183$964$674
19 years$1,992$1,630$1,324$1,069$859$586
20 years$1,873$1,514$1,215$968$767$511
21 years$1,765$1,411$1,118$879$686$446
22 years$1,667$1,317$1,030$799$615$389
23 years$1,577$1,232$951$728$552$341
24 years$1,496$1,154$880$664$496$298
25 years$1,421$1,083$815$606$447$262
26 years$1,351$1,018$756$554$402$229
27 years$1,287$958$702$507$363$201
28 years$1,228$903$652$465$327$177
29 years$1,173$851$607$426$296$155
30 years$1,122$804$565$391$267$137
31 years$1,074$760$527$359$241$120
32 years$1,029$719$492$330$218$106
33 years$987$681$459$304$198$93
34 years$947$646$429$279$179$82
35 years$910$612$401$257$162$72
36 years$875$581$375$237$147$63
37 years$842$552$351$218$133$56
38 years$811$525$329$201$121$49
39 years$781$499$308$185$109$43
40 years$753$475$289$171$99$38
41 years$727$452$271$158$90$34
42 years$702$430$254$146$82$30
43 years$678$410$238$134$74$26
44 years$655$391$224$124$67$23
45 years$633$373$210$115$61$20
46 years$612$355$197$106$55$18
47 years$592$339$185$98$50$16
48 years$573$324$174$90$46$14
49 years$555$309$164$84$42$12
50 years$538$295$154$77$38$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $551,000, adding $5,258 every year, while hoping to spend $37,806 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: 59/26/15 Blend
61$551,000$551,000$551,000$551,000
62$612,626$583,423$574,882$646,138
63$634,888$571,785$553,915$657,746
64$658,154$558,310$530,979$665,741
65$682,487$542,868$505,968$673,575
66$707,953$525,321$478,770$681,235
67$734,626$505,523$449,270$688,713
68$762,585$483,321$417,348$695,999
69$791,916$458,552$382,877$703,086
70$822,713$431,042$345,725$709,966
71$855,077$400,610$305,754$716,634
72$889,118$367,063$262,820$723,088
73$924,956$330,198$216,772$729,327
74$962,722$289,798$167,455$735,352
75$1,002,558$245,636$114,702$741,168
76$1,044,618$197,472$58,345$746,785
77$1,089,072$145,051$0$752,216
78$1,136,105$88,106$0$757,766
79$1,185,917$26,353$0$773,154
80$1,238,729$0$0$789,096
81$1,294,781$0$0$817,249
82$1,354,336$0$0$855,196
83$1,417,682$0$0$895,583
84$1,485,132$0$0$938,614
85$1,557,032$0$0$984,511
86$1,633,759$0$0$1,033,521
87$1,715,727$0$0$1,085,910
88$1,803,387$0$0$1,141,972
89$1,897,238$0$0$1,202,029
90$1,997,824$0$0$1,266,435
91$2,105,742$0$0$1,335,577
92$2,221,648$0$0$1,409,881
93$2,346,261$0$0$1,489,813
94$2,480,373$0$0$1,575,885
95$2,624,850$0$0$1,668,662
96$2,780,645$0$0$1,768,761
97$2,948,805$0$0$1,876,862
98$3,130,480$0$0$1,993,711
99$3,326,934$0$0$2,120,129
100$3,539,557$0$0$2,257,018