Can I retire at age 62 with 566,000?

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 $566,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$46,740$46,323$45,917$45,521$45,134$44,906
2 years$23,138$22,708$22,290$21,885$21,492$21,262
3 years$15,272$14,840$14,423$14,022$13,636$13,411
4 years$11,340$10,909$10,496$10,102$9,725$9,507
5 years$8,981$8,553$8,146$7,759$7,393$7,182
6 years$7,409$6,984$6,583$6,205$5,850$5,646
7 years$6,287$5,865$5,470$5,102$4,757$4,562
8 years$5,446$5,027$4,639$4,280$3,947$3,759
9 years$4,792$4,377$3,996$3,645$3,324$3,144
10 years$4,269$3,858$3,484$3,142$2,832$2,660
11 years$3,841$3,435$3,067$2,735$2,436$2,271
12 years$3,485$3,083$2,722$2,399$2,111$1,953
13 years$3,184$2,786$2,432$2,118$1,840$1,690
14 years$2,926$2,532$2,185$1,880$1,613$1,470
15 years$2,703$2,313$1,973$1,677$1,421$1,284
16 years$2,508$2,123$1,789$1,501$1,255$1,126
17 years$2,336$1,955$1,628$1,349$1,113$990
18 years$2,183$1,806$1,486$1,215$990$873
19 years$2,046$1,674$1,360$1,098$882$772
20 years$1,924$1,556$1,248$995$788$684
21 years$1,813$1,449$1,148$903$705$606
22 years$1,712$1,353$1,058$821$632$539
23 years$1,620$1,265$977$748$567$479
24 years$1,536$1,185$904$682$510$427
25 years$1,459$1,112$837$623$459$381
26 years$1,388$1,045$776$569$413$340
27 years$1,322$984$721$521$373$303
28 years$1,261$927$670$477$336$271
29 years$1,205$875$624$438$304$243
30 years$1,152$826$581$402$274$217
31 years$1,103$781$541$369$248$194
32 years$1,057$739$505$339$224$174
33 years$1,014$700$472$312$203$156
34 years$973$663$441$287$184$140
35 years$935$629$412$264$167$125
36 years$899$597$385$243$151$113
37 years$865$567$361$224$137$101
38 years$833$539$338$207$124$91
39 years$803$512$317$191$112$81
40 years$774$487$297$176$102$73
41 years$747$464$278$162$93$66
42 years$721$442$261$150$84$59
43 years$696$421$245$138$76$53
44 years$672$401$230$128$69$48
45 years$650$383$216$118$63$43
46 years$629$365$203$109$57$38
47 years$608$348$190$101$52$34
48 years$589$333$179$93$47$31
49 years$570$318$168$86$43$28
50 years$553$303$158$79$39$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $566,000, adding $5,733 every year, while hoping to spend $27,648 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: 56/21/23 Blend
61$566,000$566,000$566,000$566,000
62$629,646$599,648$590,875$660,673
63$664,452$599,613$581,252$682,512
64$701,882$598,650$570,380$702,884
65$742,175$596,684$558,188$724,489
66$785,591$593,636$544,601$747,455
67$832,418$589,422$529,543$771,922
68$882,973$583,952$512,931$798,046
69$937,603$577,131$494,680$825,999
70$996,688$568,861$474,702$855,975
71$1,060,649$559,034$452,903$888,187
72$1,129,947$547,538$429,187$922,871
73$1,205,087$534,253$403,450$960,290
74$1,286,629$519,054$375,589$1,000,734
75$1,375,184$501,807$345,490$1,044,527
76$1,471,428$482,370$313,039$1,092,027
77$1,576,101$460,594$278,113$1,143,628
78$1,690,021$436,321$240,588$1,199,770
79$1,814,085$409,382$200,329$1,260,940
80$1,949,282$379,602$157,200$1,327,674
81$2,096,698$346,792$111,056$1,400,570
82$2,257,532$310,756$61,747$1,480,285
83$2,433,100$271,283$9,116$1,567,551
84$2,624,853$228,153$0$1,663,175
85$2,834,388$181,132$0$1,779,596
86$3,063,462$129,974$0$1,909,395
87$3,314,011$74,418$0$2,051,467
88$3,588,164$14,189$0$2,207,068
89$3,888,270$0$0$2,377,581
90$4,216,911$0$0$2,576,318
91$4,576,932$0$0$2,797,675
92$4,971,467$0$0$3,040,305
93$5,403,967$0$0$3,306,337
94$5,878,232$0$0$3,598,116
95$6,398,449$0$0$3,918,224
96$6,969,228$0$0$4,269,506
97$7,595,647$0$0$4,655,095
98$8,283,302$0$0$5,078,442
99$9,038,354$0$0$5,543,349
100$9,867,590$0$0$6,054,004