Can I retire at age 62 with 559,000?

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 $559,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$46,162$45,751$45,349$44,958$44,575$43,253
2 years$22,852$22,427$22,014$21,614$21,226$19,905
3 years$15,084$14,656$14,245$13,849$13,467$12,187
4 years$11,200$10,774$10,366$9,977$9,605$8,378
5 years$8,870$8,447$8,045$7,663$7,301$6,130
6 years$7,318$6,897$6,501$6,128$5,777$4,662
7 years$6,209$5,792$5,403$5,039$4,698$3,640
8 years$5,378$4,965$4,582$4,227$3,898$2,896
9 years$4,732$4,323$3,946$3,600$3,283$2,335
10 years$4,216$3,811$3,441$3,103$2,797$1,903
11 years$3,793$3,392$3,029$2,701$2,405$1,564
12 years$3,442$3,045$2,688$2,369$2,084$1,293
13 years$3,144$2,752$2,402$2,092$1,818$1,075
14 years$2,890$2,501$2,158$1,857$1,593$898
15 years$2,669$2,285$1,948$1,656$1,403$752
16 years$2,477$2,096$1,766$1,483$1,240$632
17 years$2,307$1,931$1,607$1,332$1,099$532
18 years$2,156$1,784$1,467$1,200$978$449
19 years$2,021$1,653$1,343$1,085$871$379
20 years$1,900$1,536$1,233$982$778$321
21 years$1,790$1,431$1,134$892$696$272
22 years$1,691$1,336$1,045$811$624$231
23 years$1,600$1,249$965$738$560$196
24 years$1,517$1,171$892$673$504$166
25 years$1,441$1,099$827$615$453$141
26 years$1,371$1,032$767$562$408$120
27 years$1,306$972$712$515$368$102
28 years$1,246$916$662$472$332$87
29 years$1,190$864$616$432$300$74
30 years$1,138$816$574$397$271$63
31 years$1,089$771$535$364$245$54
32 years$1,044$730$499$335$222$46
33 years$1,001$691$466$308$201$39
34 years$961$655$435$283$182$33
35 years$923$621$407$261$164$28
36 years$888$590$381$240$149$24
37 years$854$560$356$221$135$20
38 years$823$532$334$204$122$17
39 years$793$506$313$188$111$15
40 years$764$481$293$174$101$13
41 years$737$458$275$160$91$11
42 years$712$436$258$148$83$9
43 years$687$416$242$136$75$8
44 years$664$396$227$126$68$7
45 years$642$378$213$116$62$6
46 years$621$361$200$107$56$5
47 years$601$344$188$99$51$4
48 years$582$329$177$92$46$4
49 years$563$314$166$85$42$3
50 years$546$300$156$78$38$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $559,000, adding $6,931 every year, while hoping to spend $25,831 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: 75/6/19 Blend
61$559,000$559,000$559,000$559,000
62$623,167$593,540$584,876$666,641
63$659,246$595,140$576,985$697,983
64$698,140$595,952$567,964$728,483
65$740,107$595,911$557,749$761,237
66$785,434$594,947$546,269$796,464
67$834,435$592,985$533,455$834,404
68$887,453$589,947$519,232$875,324
69$944,868$585,749$503,521$919,515
70$1,007,096$580,303$486,241$967,300
71$1,074,597$573,514$467,306$1,019,036
72$1,147,873$565,283$446,628$1,075,115
73$1,227,478$555,505$424,112$1,135,971
74$1,314,022$544,066$399,662$1,202,080
75$1,408,177$530,850$373,175$1,273,970
76$1,510,679$515,729$344,544$1,352,222
77$1,622,340$498,572$313,659$1,437,477
78$1,744,055$479,238$280,402$1,530,441
79$1,876,806$457,578$244,653$1,631,895
80$2,021,676$433,435$206,284$1,742,698
81$2,179,855$406,642$165,163$1,863,798
82$2,352,656$377,023$121,152$1,996,241
83$2,541,522$344,392$74,105$2,141,180
84$2,748,042$308,552$23,873$2,299,888
85$2,973,967$269,296$0$2,473,766
86$3,221,223$226,403$0$2,670,389
87$3,491,933$179,642$0$2,890,993
88$3,788,432$128,767$0$3,132,646
89$4,113,295$73,519$0$3,397,460
90$4,469,355$13,625$0$3,687,759
91$4,859,733$0$0$4,006,105
92$5,287,866$0$0$4,358,699
93$5,757,540$0$0$4,746,516
94$6,272,926$0$0$5,172,102
95$6,838,617$0$0$5,639,253
96$7,459,674$0$0$6,152,150
97$8,141,668$0$0$6,715,401
98$8,890,741$0$0$7,334,079
99$9,713,656$0$0$8,013,773
100$10,617,864$0$0$8,760,642