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%13%
1 years$46,740$46,323$45,917$45,521$45,134$44,570
2 years$23,138$22,708$22,290$21,885$21,492$20,925
3 years$15,272$14,840$14,423$14,022$13,636$13,082
4 years$11,340$10,909$10,496$10,102$9,725$9,190
5 years$8,981$8,553$8,146$7,759$7,393$6,878
6 years$7,409$6,984$6,583$6,205$5,850$5,355
7 years$6,287$5,865$5,470$5,102$4,757$4,284
8 years$5,446$5,027$4,639$4,280$3,947$3,494
9 years$4,792$4,377$3,996$3,645$3,324$2,891
10 years$4,269$3,858$3,484$3,142$2,832$2,420
11 years$3,841$3,435$3,067$2,735$2,436$2,043
12 years$3,485$3,083$2,722$2,399$2,111$1,738
13 years$3,184$2,786$2,432$2,118$1,840$1,486
14 years$2,926$2,532$2,185$1,880$1,613$1,278
15 years$2,703$2,313$1,973$1,677$1,421$1,103
16 years$2,508$2,123$1,789$1,501$1,255$955
17 years$2,336$1,955$1,628$1,349$1,113$829
18 years$2,183$1,806$1,486$1,215$990$722
19 years$2,046$1,674$1,360$1,098$882$630
20 years$1,924$1,556$1,248$995$788$551
21 years$1,813$1,449$1,148$903$705$482
22 years$1,712$1,353$1,058$821$632$422
23 years$1,620$1,265$977$748$567$371
24 years$1,536$1,185$904$682$510$326
25 years$1,459$1,112$837$623$459$286
26 years$1,388$1,045$776$569$413$252
27 years$1,322$984$721$521$373$222
28 years$1,261$927$670$477$336$196
29 years$1,205$875$624$438$304$172
30 years$1,152$826$581$402$274$152
31 years$1,103$781$541$369$248$134
32 years$1,057$739$505$339$224$118
33 years$1,014$700$472$312$203$105
34 years$973$663$441$287$184$92
35 years$935$629$412$264$167$82
36 years$899$597$385$243$151$72
37 years$865$567$361$224$137$64
38 years$833$539$338$207$124$56
39 years$803$512$317$191$112$50
40 years$774$487$297$176$102$44
41 years$747$464$278$162$93$39
42 years$721$442$261$150$84$34
43 years$696$421$245$138$76$30
44 years$672$401$230$128$69$27
45 years$650$383$216$118$63$24
46 years$629$365$203$109$57$21
47 years$608$348$190$101$52$19
48 years$589$333$179$93$47$16
49 years$570$318$168$86$43$15
50 years$553$303$158$79$39$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $566,000, adding $6,911 every year, while hoping to spend $30,152 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: 53/34/13 Blend
61$566,000$566,000$566,000$566,000
62$630,861$600,863$592,090$661,779
63$663,127$598,223$579,843$680,982
64$697,674$594,444$566,176$698,051
65$734,702$589,438$551,008$715,932
66$774,432$583,110$534,257$734,710
67$817,105$575,364$515,836$754,480
68$862,987$566,094$495,654$775,346
69$912,369$555,190$473,615$797,426
70$965,570$542,534$449,621$820,853
71$1,022,943$528,002$423,568$845,773
72$1,084,872$511,463$395,346$872,350
73$1,151,782$492,778$364,844$900,767
74$1,224,139$471,799$331,941$931,228
75$1,302,455$448,371$296,515$963,961
76$1,387,293$422,329$258,435$999,217
77$1,479,272$393,498$217,568$1,037,278
78$1,579,073$361,695$173,772$1,078,457
79$1,687,444$326,724$126,899$1,123,103
80$1,805,209$288,379$76,796$1,171,602
81$1,933,274$246,443$23,303$1,224,385
82$2,072,636$200,687$0$1,281,928
83$2,224,391$150,867$0$1,349,450
84$2,389,746$96,726$0$1,426,606
85$2,570,029$37,994$0$1,510,839
86$2,766,701$0$0$1,602,902
87$2,981,371$0$0$1,713,210
88$3,215,811$0$0$1,849,252
89$3,471,969$0$0$1,997,951
90$3,751,992$0$0$2,160,560
91$4,058,242$0$0$2,338,457
92$4,393,322$0$0$2,533,162
93$4,760,096$0$0$2,746,347
94$5,161,718$0$0$2,979,852
95$5,601,663$0$0$3,235,707
96$6,083,755$0$0$3,516,144
97$6,612,209$0$0$3,823,623
98$7,191,664$0$0$4,160,853
99$7,827,232$0$0$4,530,818
100$8,524,541$0$0$4,936,805