Can I retire at age 62 with 553,000?

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 $553,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$45,666$45,259$44,863$44,475$44,097$43,224
2 years$22,607$22,186$21,778$21,382$20,999$20,123
3 years$14,922$14,499$14,092$13,700$13,322$12,471
4 years$11,080$10,658$10,255$9,870$9,502$8,682
5 years$8,775$8,356$7,958$7,581$7,223$6,436
6 years$7,239$6,823$6,432$6,063$5,715$4,963
7 years$6,143$5,730$5,345$4,984$4,648$3,930
8 years$5,321$4,912$4,533$4,181$3,856$3,172
9 years$4,681$4,277$3,904$3,562$3,247$2,597
10 years$4,171$3,770$3,404$3,070$2,767$2,150
11 years$3,753$3,356$2,997$2,672$2,380$1,795
12 years$3,405$3,012$2,659$2,344$2,062$1,509
13 years$3,111$2,722$2,376$2,069$1,798$1,276
14 years$2,859$2,474$2,135$1,837$1,576$1,083
15 years$2,641$2,260$1,927$1,638$1,388$923
16 years$2,450$2,074$1,747$1,467$1,227$790
17 years$2,282$1,910$1,590$1,318$1,088$677
18 years$2,133$1,765$1,452$1,188$967$582
19 years$1,999$1,636$1,329$1,073$862$501
20 years$1,879$1,520$1,220$972$770$432
21 years$1,771$1,416$1,122$882$689$373
22 years$1,673$1,322$1,034$802$618$323
23 years$1,583$1,236$955$730$554$279
24 years$1,501$1,158$883$666$498$242
25 years$1,426$1,087$818$608$448$210
26 years$1,356$1,021$758$556$404$182
27 years$1,292$961$704$509$364$158
28 years$1,233$906$655$466$329$137
29 years$1,177$854$609$428$297$119
30 years$1,126$807$567$393$268$103
31 years$1,078$763$529$361$242$90
32 years$1,033$722$494$331$219$78
33 years$990$684$461$305$198$68
34 years$951$648$431$280$180$59
35 years$913$615$403$258$163$51
36 years$878$583$377$238$147$45
37 years$845$554$353$219$134$39
38 years$814$526$330$202$121$34
39 years$784$501$309$186$110$30
40 years$756$476$290$172$100$26
41 years$729$453$272$158$90$22
42 years$704$432$255$146$82$19
43 years$680$411$239$135$74$17
44 years$657$392$225$125$68$15
45 years$635$374$211$115$61$13
46 years$614$357$198$106$56$11
47 years$594$340$186$98$51$10
48 years$575$325$175$91$46$8
49 years$557$310$164$84$42$7
50 years$540$296$155$78$38$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $553,000, adding $3,218 every year, while hoping to spend $21,103 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: 70/6/24 Blend
61$553,000$553,000$553,000$553,000
62$612,725$583,416$574,845$651,688
63$652,770$589,550$571,649$684,294
64$696,192$595,278$567,638$717,214
65$743,313$600,556$562,764$752,747
66$794,488$605,340$556,974$791,150
67$850,107$609,583$550,213$832,708
68$910,598$613,233$542,426$877,735
69$976,433$616,235$533,551$926,577
70$1,048,132$618,533$523,527$979,613
71$1,126,265$620,065$512,289$1,037,266
72$1,211,461$620,765$499,768$1,100,000
73$1,304,412$620,565$485,892$1,168,325
74$1,405,880$619,390$470,587$1,242,807
75$1,516,703$617,163$453,775$1,324,067
76$1,637,803$613,801$435,373$1,412,792
77$1,770,197$609,215$415,296$1,509,739
78$1,915,003$603,313$393,455$1,615,744
79$2,073,454$595,996$369,756$1,731,726
80$2,246,904$587,158$344,101$1,858,702
81$2,436,848$576,689$316,388$1,997,791
82$2,644,931$564,470$286,511$2,150,228
83$2,872,963$550,378$254,358$2,317,375
84$3,122,939$534,281$219,813$2,500,733
85$3,397,056$516,038$182,754$2,701,958
86$3,697,733$495,501$143,054$2,922,876
87$4,027,637$472,515$100,581$3,165,501
88$4,389,701$446,914$55,196$3,432,052
89$4,787,161$418,523$6,755$3,724,976
90$5,223,577$387,156$0$4,046,973
91$5,702,873$352,619$0$4,412,526
92$6,229,373$314,703$0$4,816,002
93$6,807,836$273,191$0$5,259,328
94$7,443,510$227,852$0$5,746,536
95$8,142,172$178,441$0$6,282,068
96$8,910,190$124,701$0$6,870,818
97$9,754,577$66,359$0$7,518,180
98$10,683,062$3,128$0$8,230,097
99$11,704,158$0$0$9,013,117
100$12,827,245$0$0$9,878,767