Can I retire at age 62 with 556,000?

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 $556,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$45,914$45,505$45,106$44,717$44,336$42,917
2 years$22,730$22,306$21,896$21,498$21,112$19,696
3 years$15,003$14,577$14,168$13,774$13,395$12,025
4 years$11,140$10,716$10,311$9,924$9,553$8,241
5 years$8,823$8,401$8,002$7,622$7,262$6,011
6 years$7,279$6,860$6,467$6,096$5,746$4,557
7 years$6,176$5,761$5,374$5,011$4,673$3,546
8 years$5,349$4,939$4,557$4,204$3,877$2,810
9 years$4,707$4,300$3,925$3,581$3,265$2,258
10 years$4,193$3,790$3,422$3,087$2,782$1,834
11 years$3,773$3,374$3,013$2,686$2,393$1,501
12 years$3,423$3,028$2,674$2,356$2,073$1,236
13 years$3,128$2,737$2,389$2,080$1,808$1,024
14 years$2,874$2,488$2,146$1,847$1,585$851
15 years$2,655$2,273$1,938$1,647$1,395$710
16 years$2,463$2,085$1,757$1,475$1,233$594
17 years$2,294$1,920$1,599$1,325$1,094$498
18 years$2,144$1,774$1,459$1,194$972$418
19 years$2,010$1,644$1,336$1,079$867$352
20 years$1,890$1,528$1,226$977$774$296
21 years$1,781$1,423$1,128$887$693$250
22 years$1,682$1,329$1,039$806$621$211
23 years$1,592$1,243$960$734$557$178
24 years$1,509$1,164$888$670$501$151
25 years$1,433$1,093$822$612$451$127
26 years$1,364$1,027$762$559$406$108
27 years$1,299$966$708$512$366$91
28 years$1,239$911$658$469$330$77
29 years$1,184$859$613$430$298$65
30 years$1,132$811$571$395$270$55
31 years$1,083$767$532$363$244$47
32 years$1,038$726$496$333$220$40
33 years$996$687$463$306$199$34
34 years$956$651$433$282$181$29
35 years$918$618$405$260$164$24
36 years$883$586$379$239$148$21
37 years$850$557$354$220$134$17
38 years$818$529$332$203$122$15
39 years$788$503$311$187$110$13
40 years$760$479$291$173$100$11
41 years$733$456$273$159$91$9
42 years$708$434$256$147$82$8
43 years$684$414$241$136$75$6
44 years$661$394$226$125$68$5
45 years$639$376$212$116$62$5
46 years$618$359$199$107$56$4
47 years$598$342$187$99$51$3
48 years$579$327$176$91$46$3
49 years$560$312$165$84$42$2
50 years$543$298$155$78$38$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $556,000, adding $6,668 every year, while hoping to spend $22,707 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: 56/16/28 Blend
61$556,000$556,000$556,000$556,000
62$619,590$590,122$581,504$649,172
63$658,628$594,878$576,824$675,014
64$700,887$599,106$571,227$700,240
65$746,671$602,756$564,657$727,264
66$796,316$605,775$557,057$756,268
67$850,189$608,107$548,367$787,453
68$908,696$609,691$538,525$821,041
69$972,281$610,465$527,464$857,276
70$1,041,436$610,360$515,116$896,430
71$1,116,699$609,304$501,409$938,802
72$1,198,663$607,221$486,267$984,725
73$1,287,982$604,029$469,612$1,034,565
74$1,385,373$599,644$451,361$1,088,727
75$1,491,628$593,973$431,428$1,147,658
76$1,607,616$586,920$409,724$1,211,855
77$1,734,297$578,383$386,153$1,281,863
78$1,872,724$568,252$360,618$1,358,286
79$2,024,058$556,414$333,015$1,441,793
80$2,189,579$542,745$303,238$1,533,121
81$2,370,694$527,117$271,174$1,633,085
82$2,568,952$509,393$236,706$1,742,584
83$2,786,061$489,429$199,711$1,862,611
84$3,023,899$467,071$160,062$1,994,265
85$3,284,538$442,158$117,625$2,138,757
86$3,570,255$414,519$72,260$2,297,425
87$3,883,563$383,973$23,823$2,471,745
88$4,227,227$350,327$0$2,663,349
89$4,604,291$313,381$0$2,882,362
90$5,018,112$272,919$0$3,130,581
91$5,472,384$228,717$0$3,403,124
92$5,971,178$180,535$0$3,702,463
93$6,518,979$128,121$0$4,031,323
94$7,120,725$71,210$0$4,392,705
95$7,781,859$9,519$0$4,789,922
96$8,508,376$0$0$5,226,623
97$9,306,879$0$0$5,716,908
98$10,184,645$0$0$6,257,759
99$11,149,690$0$0$6,852,445
100$12,210,845$0$0$7,506,415