Can I retire at age 62 with 569,000?

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 $569,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$46,987$46,569$46,161$45,762$45,373$44,384
2 years$23,261$22,828$22,408$22,001$21,606$20,615
3 years$15,353$14,918$14,499$14,096$13,708$12,745
4 years$11,400$10,967$10,552$10,156$9,777$8,850
5 years$9,029$8,598$8,189$7,800$7,432$6,544
6 years$7,449$7,021$6,618$6,238$5,881$5,032
7 years$6,320$5,896$5,499$5,129$4,783$3,974
8 years$5,475$5,054$4,664$4,302$3,968$3,198
9 years$4,817$4,400$4,017$3,665$3,341$2,610
10 years$4,291$3,879$3,502$3,159$2,847$2,154
11 years$3,861$3,453$3,083$2,749$2,448$1,793
12 years$3,503$3,099$2,736$2,411$2,122$1,502
13 years$3,201$2,801$2,445$2,129$1,850$1,266
14 years$2,942$2,546$2,197$1,890$1,622$1,071
15 years$2,717$2,326$1,983$1,685$1,428$910
16 years$2,521$2,134$1,798$1,509$1,262$776
17 years$2,348$1,965$1,636$1,356$1,119$663
18 years$2,194$1,816$1,494$1,222$995$567
19 years$2,057$1,683$1,367$1,104$887$487
20 years$1,934$1,564$1,255$1,000$792$418
21 years$1,822$1,457$1,154$908$709$360
22 years$1,721$1,360$1,064$825$635$310
23 years$1,629$1,272$982$752$570$267
24 years$1,545$1,192$908$685$513$230
25 years$1,467$1,118$841$626$461$199
26 years$1,395$1,051$780$572$416$172
27 years$1,329$989$725$524$375$149
28 years$1,268$932$674$480$338$128
29 years$1,211$879$627$440$305$111
30 years$1,158$830$584$404$276$96
31 years$1,109$785$544$371$249$83
32 years$1,062$743$508$341$226$72
33 years$1,019$703$474$314$204$62
34 years$978$667$443$288$185$54
35 years$940$632$414$266$167$47
36 years$904$600$388$245$152$41
37 years$870$570$363$225$137$35
38 years$837$542$340$208$125$31
39 years$807$515$318$192$113$26
40 years$778$490$298$177$103$23
41 years$750$466$280$163$93$20
42 years$724$444$262$150$84$17
43 years$700$423$246$139$77$15
44 years$676$403$231$128$70$13
45 years$654$385$217$118$63$11
46 years$632$367$204$109$57$10
47 years$612$350$191$101$52$8
48 years$592$334$180$93$47$7
49 years$573$319$169$86$43$6
50 years$556$305$159$80$39$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $569,000, adding $4,274 every year, while hoping to spend $22,495 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: 51/40/9 Blend
61$569,000$569,000$569,000$569,000
62$631,447$601,290$592,470$661,966
63$671,920$606,818$588,383$688,768
64$715,767$611,864$583,406$715,122
65$763,309$616,379$577,484$743,243
66$814,898$620,313$570,561$773,304
67$870,922$623,613$562,579$805,494
68$931,807$626,221$553,476$840,024
69$998,022$628,076$543,188$877,125
70$1,070,082$629,114$531,647$917,054
71$1,148,556$629,266$518,783$960,095
72$1,234,068$628,459$504,521$1,006,562
73$1,327,305$626,616$488,785$1,056,800
74$1,429,025$623,655$471,494$1,111,195
75$1,540,059$619,488$452,563$1,170,168
76$1,661,325$614,023$431,904$1,234,189
77$1,793,832$607,162$409,424$1,303,775
78$1,938,691$598,800$385,028$1,379,498
79$2,097,125$588,829$358,614$1,461,989
80$2,270,481$577,131$330,076$1,551,948
81$2,460,241$563,582$299,305$1,650,146
82$2,668,040$548,051$266,186$1,757,434
83$2,895,675$530,401$230,598$1,874,754
84$3,145,127$510,483$192,417$2,003,147
85$3,418,577$488,144$151,509$2,143,761
86$3,718,427$463,219$107,740$2,297,864
87$4,047,324$435,533$60,967$2,466,858
88$4,408,180$404,904$11,039$2,652,289
89$4,804,207$371,137$0$2,855,865
90$5,238,941$334,026$0$3,083,531
91$5,716,275$293,356$0$3,334,704
92$6,240,500$248,896$0$3,610,641
93$6,816,343$200,404$0$3,913,895
94$7,449,011$147,624$0$4,247,286
95$8,144,239$90,287$0$4,613,922
96$8,908,346$28,105$0$5,017,237
97$9,748,293$0$0$5,461,016
98$10,671,752$0$0$5,966,699
99$11,687,171$0$0$6,536,407
100$12,803,859$0$0$7,163,000