Can I retire at age 62 with 558,000?

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 $558,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$46,079$45,669$45,268$44,877$44,496$42,866
2 years$22,811$22,387$21,975$21,576$21,188$19,565
3 years$15,057$14,630$14,219$13,824$13,443$11,876
4 years$11,180$10,755$10,348$9,959$9,588$8,090
5 years$8,854$8,432$8,030$7,650$7,288$5,863
6 years$7,305$6,885$6,490$6,117$5,767$4,416
7 years$6,198$5,782$5,393$5,030$4,690$3,412
8 years$5,369$4,956$4,574$4,219$3,891$2,686
9 years$4,724$4,315$3,939$3,594$3,277$2,142
10 years$4,208$3,804$3,434$3,098$2,792$1,726
11 years$3,787$3,386$3,024$2,696$2,401$1,402
12 years$3,436$3,039$2,683$2,365$2,081$1,146
13 years$3,139$2,747$2,397$2,088$1,814$941
14 years$2,885$2,497$2,154$1,853$1,591$776
15 years$2,665$2,281$1,945$1,653$1,400$642
16 years$2,472$2,093$1,763$1,480$1,238$532
17 years$2,303$1,927$1,605$1,330$1,097$442
18 years$2,152$1,781$1,465$1,198$976$368
19 years$2,017$1,650$1,341$1,083$870$307
20 years$1,896$1,534$1,231$981$777$256
21 years$1,787$1,429$1,132$890$695$214
22 years$1,688$1,333$1,043$809$623$179
23 years$1,597$1,247$963$737$559$150
24 years$1,515$1,169$891$672$503$125
25 years$1,439$1,097$825$614$452$105
26 years$1,369$1,031$765$561$408$88
27 years$1,304$970$711$514$367$74
28 years$1,244$914$661$471$332$62
29 years$1,188$862$615$432$299$52
30 years$1,136$814$573$396$271$43
31 years$1,087$770$534$364$245$36
32 years$1,042$728$498$334$221$31
33 years$999$690$465$307$200$26
34 years$959$654$435$283$181$22
35 years$922$620$406$260$164$18
36 years$886$589$380$240$149$15
37 years$853$559$356$221$135$13
38 years$821$531$333$204$122$11
39 years$791$505$312$188$111$9
40 years$763$481$293$173$101$8
41 years$736$457$274$160$91$6
42 years$710$436$257$148$83$5
43 years$686$415$241$136$75$4
44 years$663$396$227$126$68$4
45 years$641$377$213$116$62$3
46 years$620$360$200$107$56$3
47 years$600$344$188$99$51$2
48 years$581$328$176$92$46$2
49 years$562$313$166$85$42$2
50 years$545$299$156$78$38$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $558,000, adding $5,686 every year, while hoping to spend $20,990 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: 52/31/17 Blend
61$558,000$558,000$558,000$558,000
62$620,781$591,207$582,558$649,906
63$661,768$597,843$579,741$677,140
64$706,231$604,101$576,125$704,072
65$754,504$609,939$571,663$732,902
66$806,953$615,315$566,303$763,819
67$863,979$620,183$559,991$797,029
68$926,026$624,493$552,671$832,758
69$993,580$628,192$544,285$871,259
70$1,067,176$631,225$534,770$912,811
71$1,147,406$633,533$524,063$957,719
72$1,234,918$635,052$512,095$1,006,325
73$1,330,425$635,715$498,796$1,059,003
74$1,434,715$635,452$484,093$1,116,167
75$1,548,654$634,187$467,907$1,178,276
76$1,673,193$631,838$450,159$1,245,835
77$1,809,382$628,322$430,763$1,319,404
78$1,958,377$623,548$409,631$1,399,599
79$2,121,449$617,419$386,671$1,487,102
80$2,299,999$609,835$361,787$1,582,665
81$2,495,569$600,687$334,877$1,687,120
82$2,709,858$589,861$305,836$1,801,384
83$2,944,736$577,237$274,554$1,926,471
84$3,202,263$562,686$240,916$2,063,499
85$3,484,709$546,073$204,801$2,213,704
86$3,794,572$527,253$166,086$2,378,449
87$4,134,606$506,076$124,637$2,559,239
88$4,507,843$482,381$80,319$2,757,736
89$4,917,622$455,997$32,989$2,975,774
90$5,367,623$426,744$0$3,215,375
91$5,861,899$394,433$0$3,481,952
92$6,404,914$358,862$0$3,781,383
93$7,001,588$319,818$0$4,110,429
94$7,657,339$277,078$0$4,472,120
95$8,378,136$230,403$0$4,869,800
96$9,170,557$179,544$0$5,307,157
97$10,041,847$124,235$0$5,788,255
98$10,999,989$64,196$0$6,317,580
99$12,053,778$0$0$6,900,073
100$13,212,906$0$0$7,541,484