Can I retire at age 62 with 563,000?

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 $563,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$46,492$46,078$45,674$45,279$44,894$43,632
2 years$23,016$22,587$22,172$21,769$21,378$20,116
3 years$15,191$14,761$14,347$13,948$13,563$12,341
4 years$11,280$10,851$10,441$10,048$9,673$8,500
5 years$8,934$8,507$8,102$7,718$7,354$6,233
6 years$7,370$6,947$6,548$6,172$5,819$4,751
7 years$6,254$5,834$5,441$5,075$4,732$3,718
8 years$5,417$5,001$4,615$4,257$3,926$2,964
9 years$4,766$4,354$3,975$3,626$3,306$2,397
10 years$4,246$3,838$3,465$3,126$2,817$1,958
11 years$3,821$3,417$3,051$2,720$2,423$1,613
12 years$3,466$3,067$2,707$2,386$2,099$1,338
13 years$3,167$2,771$2,419$2,106$1,831$1,115
14 years$2,910$2,519$2,173$1,870$1,605$933
15 years$2,688$2,301$1,962$1,668$1,413$784
16 years$2,494$2,111$1,779$1,493$1,249$661
17 years$2,323$1,944$1,619$1,342$1,107$558
18 years$2,171$1,797$1,478$1,209$985$472
19 years$2,036$1,665$1,353$1,092$878$400
20 years$1,913$1,547$1,242$989$784$340
21 years$1,803$1,441$1,142$898$701$289
22 years$1,703$1,345$1,053$816$629$245
23 years$1,612$1,258$972$744$564$209
24 years$1,528$1,179$899$678$507$178
25 years$1,452$1,106$832$619$456$152
26 years$1,381$1,040$772$566$411$129
27 years$1,315$979$717$518$371$110
28 years$1,255$922$666$475$335$94
29 years$1,198$870$620$436$302$80
30 years$1,146$822$578$400$273$69
31 years$1,097$777$539$367$247$59
32 years$1,051$735$503$337$223$50
33 years$1,008$696$469$310$202$43
34 years$968$660$438$285$183$37
35 years$930$626$410$263$166$31
36 years$894$594$383$242$150$27
37 years$860$564$359$223$136$23
38 years$829$536$336$206$123$20
39 years$798$510$315$190$112$17
40 years$770$485$295$175$101$14
41 years$743$462$277$161$92$12
42 years$717$440$260$149$84$10
43 years$692$419$244$137$76$9
44 years$669$399$229$127$69$8
45 years$647$381$215$117$62$7
46 years$625$363$202$108$57$6
47 years$605$347$189$100$51$5
48 years$586$331$178$92$47$4
49 years$567$316$167$85$42$4
50 years$550$302$157$79$39$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $563,000, adding $4,966 every year, while hoping to spend $20,738 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: 67/22/11 Blend
61$563,000$563,000$563,000$563,000
62$625,548$595,709$586,983$665,652
63$667,289$602,834$584,582$700,094
64$712,593$609,613$581,405$734,804
65$761,800$616,007$577,405$772,216
66$815,287$621,975$572,532$812,592
67$873,467$627,472$566,732$856,221
68$936,794$632,452$559,951$903,422
69$1,005,769$636,864$552,132$954,545
70$1,080,943$640,655$543,213$1,009,979
71$1,162,920$643,769$533,132$1,070,150
72$1,252,369$646,144$521,822$1,135,530
73$1,350,022$647,717$509,215$1,206,637
74$1,456,688$648,419$495,238$1,284,044
75$1,573,257$648,177$479,815$1,368,383
76$1,700,707$646,916$462,866$1,460,350
77$1,840,116$644,553$444,310$1,560,713
78$1,992,673$641,000$424,059$1,670,319
79$2,159,684$636,167$402,023$1,790,100
80$2,342,588$629,956$378,107$1,921,088
81$2,542,970$622,262$352,212$2,064,417
82$2,762,577$612,977$324,235$2,221,338
83$3,003,331$601,984$294,068$2,393,234
84$3,267,350$589,160$261,598$2,581,625
85$3,556,965$574,374$226,707$2,788,192
86$3,874,746$557,489$189,273$3,014,783
87$4,223,522$538,358$149,165$3,263,441
88$4,606,410$516,827$106,251$3,536,416
89$5,026,843$492,731$60,390$3,836,190
90$5,488,604$465,898$11,436$4,165,497
91$5,995,859$436,144$0$4,527,356
92$6,553,198$403,276$0$4,929,881
93$7,165,676$367,088$0$5,373,694
94$7,838,865$327,366$0$5,861,515
95$8,578,901$283,879$0$6,397,821
96$9,392,546$236,386$0$6,987,550
97$10,287,249$184,631$0$7,636,141
98$11,271,216$128,346$0$8,349,592
99$12,353,489$67,244$0$9,134,513
100$13,544,032$1,026$0$9,998,191