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%14.6%
1 years$46,740$46,323$45,917$45,521$45,134$44,277
2 years$23,138$22,708$22,290$21,885$21,492$20,632
3 years$15,272$14,840$14,423$14,022$13,636$12,799
4 years$11,340$10,909$10,496$10,102$9,725$8,919
5 years$8,981$8,553$8,146$7,759$7,393$6,619
6 years$7,409$6,984$6,583$6,205$5,850$5,109
7 years$6,287$5,865$5,470$5,102$4,757$4,051
8 years$5,446$5,027$4,639$4,280$3,947$3,273
9 years$4,792$4,377$3,996$3,645$3,324$2,683
10 years$4,269$3,858$3,484$3,142$2,832$2,224
11 years$3,841$3,435$3,067$2,735$2,436$1,859
12 years$3,485$3,083$2,722$2,399$2,111$1,565
13 years$3,184$2,786$2,432$2,118$1,840$1,325
14 years$2,926$2,532$2,185$1,880$1,613$1,126
15 years$2,703$2,313$1,973$1,677$1,421$962
16 years$2,508$2,123$1,789$1,501$1,255$823
17 years$2,336$1,955$1,628$1,349$1,113$707
18 years$2,183$1,806$1,486$1,215$990$609
19 years$2,046$1,674$1,360$1,098$882$525
20 years$1,924$1,556$1,248$995$788$453
21 years$1,813$1,449$1,148$903$705$392
22 years$1,712$1,353$1,058$821$632$339
23 years$1,620$1,265$977$748$567$294
24 years$1,536$1,185$904$682$510$255
25 years$1,459$1,112$837$623$459$222
26 years$1,388$1,045$776$569$413$193
27 years$1,322$984$721$521$373$167
28 years$1,261$927$670$477$336$146
29 years$1,205$875$624$438$304$127
30 years$1,152$826$581$402$274$110
31 years$1,103$781$541$369$248$96
32 years$1,057$739$505$339$224$84
33 years$1,014$700$472$312$203$73
34 years$973$663$441$287$184$63
35 years$935$629$412$264$167$55
36 years$899$597$385$243$151$48
37 years$865$567$361$224$137$42
38 years$833$539$338$207$124$37
39 years$803$512$317$191$112$32
40 years$774$487$297$176$102$28
41 years$747$464$278$162$93$24
42 years$721$442$261$150$84$21
43 years$696$421$245$138$76$18
44 years$672$401$230$128$69$16
45 years$650$383$216$118$63$14
46 years$629$365$203$109$57$12
47 years$608$348$190$101$52$11
48 years$589$333$179$93$47$9
49 years$570$318$168$86$43$8
50 years$553$303$158$79$39$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $566,000, adding $2,118 every year, while hoping to spend $33,318 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: 26/49/25 Blend
61$566,000$566,000$566,000$566,000
62$625,917$595,919$587,146$637,221
63$654,310$589,669$571,365$640,283
64$684,483$581,996$553,939$640,548
65$716,582$572,795$534,777$640,132
66$750,766$561,955$513,786$639,001
67$787,212$549,358$490,865$637,119
68$826,111$534,881$465,913$634,450
69$867,674$518,389$438,820$630,959
70$912,131$499,745$409,475$626,610
71$959,736$478,799$377,759$621,371
72$1,010,765$455,396$343,550$615,208
73$1,065,522$429,370$306,719$608,090
74$1,124,342$400,546$267,131$599,989
75$1,187,592$368,739$224,646$590,877
76$1,255,672$333,754$179,118$580,733
77$1,329,025$295,383$130,393$569,536
78$1,408,137$253,407$78,312$557,272
79$1,493,540$207,597$22,709$543,933
80$1,585,820$157,708$0$529,516
81$1,685,620$103,483$0$523,797
82$1,793,649$44,649$0$524,119
83$1,910,683$0$0$524,492
84$2,037,579$0$0$535,295
85$2,175,276$0$0$573,219
86$2,324,809$0$0$614,487
87$2,487,315$0$0$659,423
88$2,664,047$0$0$708,383
89$2,856,380$0$0$761,760
90$3,065,830$0$0$819,987
91$3,294,065$0$0$883,540
92$3,542,918$0$0$952,943
93$3,814,409$0$0$1,028,772
94$4,110,761$0$0$1,111,663
95$4,434,420$0$0$1,202,314
96$4,788,079$0$0$1,301,495
97$5,174,705$0$0$1,410,054
98$5,597,561$0$0$1,528,923
99$6,060,241$0$0$1,659,132
100$6,566,705$0$0$1,801,810