Can I retire at age 62 with 562,000?

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 $562,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$46,409$45,996$45,593$45,199$44,815$44,072
2 years$22,975$22,547$22,132$21,730$21,340$20,595
3 years$15,164$14,735$14,321$13,923$13,539$12,813
4 years$11,260$10,832$10,422$10,031$9,656$8,956
5 years$8,918$8,492$8,088$7,704$7,341$6,667
6 years$7,357$6,934$6,536$6,161$5,808$5,163
7 years$6,243$5,824$5,432$5,066$4,724$4,107
8 years$5,407$4,992$4,607$4,249$3,919$3,331
9 years$4,758$4,346$3,968$3,620$3,300$2,740
10 years$4,238$3,831$3,459$3,120$2,812$2,279
11 years$3,814$3,411$3,045$2,715$2,418$1,912
12 years$3,460$3,061$2,703$2,382$2,096$1,616
13 years$3,161$2,766$2,415$2,103$1,827$1,373
14 years$2,905$2,515$2,170$1,867$1,602$1,173
15 years$2,684$2,297$1,959$1,665$1,410$1,005
16 years$2,490$2,108$1,776$1,491$1,247$864
17 years$2,319$1,941$1,616$1,339$1,105$746
18 years$2,167$1,794$1,475$1,207$983$644
19 years$2,032$1,662$1,350$1,091$876$558
20 years$1,910$1,545$1,239$988$782$484
21 years$1,800$1,439$1,140$896$700$421
22 years$1,700$1,343$1,051$815$628$366
23 years$1,609$1,256$970$742$563$319
24 years$1,526$1,177$897$677$506$278
25 years$1,449$1,104$831$618$456$242
26 years$1,378$1,038$771$565$410$212
27 years$1,313$977$716$517$370$185
28 years$1,253$921$665$474$334$162
29 years$1,196$868$619$435$302$141
30 years$1,144$820$577$399$272$124
31 years$1,095$775$538$366$246$108
32 years$1,049$734$502$337$223$95
33 years$1,006$695$468$310$202$83
34 years$966$658$438$285$183$73
35 years$928$625$409$262$165$64
36 years$893$593$383$242$150$56
37 years$859$563$358$223$136$49
38 years$827$535$335$205$123$43
39 years$797$509$314$189$112$37
40 years$768$484$295$174$101$33
41 years$741$461$276$161$92$29
42 years$716$439$259$149$83$25
43 years$691$418$243$137$76$22
44 years$668$399$228$127$69$19
45 years$646$380$214$117$62$17
46 years$624$363$201$108$57$15
47 years$604$346$189$100$51$13
48 years$585$330$178$92$47$11
49 years$566$315$167$85$42$10
50 years$549$301$157$79$39$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $562,000, adding $2,352 every year, while hoping to spend $27,593 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: 60/25/15 Blend
61$562,000$562,000$562,000$562,000
62$621,750$591,964$583,253$656,572
63$655,810$591,612$573,433$679,972
64$692,419$590,317$562,360$702,194
65$731,808$588,005$549,961$725,785
66$774,231$584,596$536,164$750,879
67$819,966$580,005$520,889$777,627
68$869,320$574,142$504,055$806,194
69$922,627$566,911$485,578$836,765
70$980,257$558,213$465,367$869,544
71$1,042,617$547,939$443,331$904,756
72$1,110,153$535,976$419,371$942,652
73$1,183,355$522,205$393,386$983,509
74$1,262,762$506,498$365,269$1,027,633
75$1,348,967$488,720$334,910$1,075,366
76$1,442,624$468,730$302,191$1,127,083
77$1,544,450$446,376$266,993$1,183,200
78$1,655,235$421,499$229,188$1,244,178
79$1,775,847$393,930$188,644$1,310,527
80$1,907,242$363,492$145,222$1,382,811
81$2,050,473$329,995$98,779$1,461,654
82$2,206,697$293,241$49,164$1,547,746
83$2,377,189$253,019$0$1,641,850
84$2,563,352$209,106$0$1,745,416
85$2,766,729$161,268$0$1,867,207
86$2,989,021$109,255$0$2,000,407
87$3,232,100$52,808$0$2,146,182
88$3,498,026$0$0$2,305,824
89$3,789,068$0$0$2,483,054
90$4,107,725$0$0$2,693,048
91$4,456,749$0$0$2,923,099
92$4,839,169$0$0$3,175,208
93$5,258,323$0$0$3,451,583
94$5,717,886$0$0$3,754,651
95$6,221,905$0$0$4,087,089
96$6,774,840$0$0$4,451,844
97$7,381,600$0$0$4,852,162
98$8,047,595$0$0$5,291,618
99$8,778,783$0$0$5,774,152
100$9,581,728$0$0$6,304,103