Can I retire at age 62 with 571,000?

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 $571,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$47,153$46,733$46,323$45,923$45,532$45,094
2 years$23,343$22,908$22,487$22,078$21,682$21,241
3 years$15,407$14,971$14,550$14,146$13,756$13,325
4 years$11,440$11,005$10,589$10,191$9,811$9,394
5 years$9,061$8,628$8,218$7,828$7,458$7,056
6 years$7,475$7,046$6,641$6,260$5,901$5,515
7 years$6,343$5,917$5,519$5,147$4,799$4,429
8 years$5,494$5,072$4,680$4,317$3,982$3,626
9 years$4,834$4,416$4,031$3,677$3,353$3,013
10 years$4,306$3,892$3,514$3,170$2,857$2,533
11 years$3,875$3,465$3,094$2,759$2,457$2,148
12 years$3,516$3,110$2,746$2,420$2,129$1,835
13 years$3,212$2,811$2,453$2,136$1,857$1,577
14 years$2,952$2,555$2,204$1,896$1,628$1,362
15 years$2,727$2,334$1,990$1,691$1,433$1,181
16 years$2,530$2,141$1,804$1,514$1,267$1,027
17 years$2,356$1,972$1,642$1,361$1,123$897
18 years$2,202$1,822$1,499$1,226$999$785
19 years$2,064$1,689$1,372$1,108$890$688
20 years$1,941$1,569$1,259$1,004$795$604
21 years$1,829$1,462$1,158$911$711$532
22 years$1,727$1,365$1,068$828$638$469
23 years$1,635$1,276$986$754$572$414
24 years$1,550$1,196$912$688$515$365
25 years$1,472$1,122$844$628$463$323
26 years$1,400$1,055$783$574$417$286
27 years$1,334$993$727$526$376$253
28 years$1,273$935$676$482$339$224
29 years$1,216$882$629$442$306$199
30 years$1,162$833$586$405$277$176
31 years$1,113$788$546$372$250$156
32 years$1,066$745$510$342$226$139
33 years$1,023$706$476$315$205$123
34 years$982$669$445$290$185$110
35 years$943$635$416$267$168$97
36 years$907$602$389$245$152$87
37 years$873$572$364$226$138$77
38 years$840$544$341$208$125$68
39 years$810$517$319$192$113$61
40 years$781$492$299$177$103$54
41 years$753$468$281$164$93$48
42 years$727$446$263$151$85$43
43 years$702$425$247$139$77$38
44 years$678$405$232$129$70$34
45 years$656$386$218$119$63$30
46 years$634$368$205$110$58$27
47 years$614$352$192$101$52$24
48 years$594$336$181$94$47$21
49 years$575$320$170$87$43$19
50 years$557$306$160$80$39$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $571,000, adding $6,477 every year, while hoping to spend $27,033 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: 59/19/22 Blend
61$571,000$571,000$571,000$571,000
62$635,923$605,660$596,810$669,362
63$672,024$606,574$588,040$693,746
64$710,902$606,628$578,070$716,837
65$752,810$605,749$566,832$741,427
66$798,029$603,863$554,253$767,666
67$846,867$600,891$540,259$795,721
68$899,659$596,747$524,770$825,777
69$956,779$591,342$507,704$858,038
70$1,018,633$584,580$488,975$892,733
71$1,085,671$576,362$468,493$930,111
72$1,158,386$566,580$446,164$970,451
73$1,237,320$555,121$421,889$1,014,061
74$1,323,070$541,865$395,565$1,061,282
75$1,416,291$526,685$367,085$1,112,489
76$1,517,707$509,446$336,337$1,168,102
77$1,628,111$490,007$303,202$1,228,580
78$1,748,378$468,217$267,559$1,294,436
79$1,879,469$443,916$229,278$1,366,232
80$2,022,443$416,937$188,228$1,444,595
81$2,178,466$387,100$144,267$1,530,213
82$2,348,820$354,218$97,250$1,623,852
83$2,534,916$318,091$47,025$1,726,353
84$2,738,310$278,510$0$1,838,651
85$2,960,711$235,251$0$1,963,318
86$3,204,006$188,080$0$2,111,832
87$3,470,267$136,749$0$2,274,441
88$3,761,780$80,995$0$2,452,577
89$4,081,060$20,542$0$2,647,821
90$4,430,877$0$0$2,861,916
91$4,814,282$0$0$3,106,172
92$5,234,635$0$0$3,378,722
93$5,695,637$0$0$3,677,677
94$6,201,364$0$0$4,005,687
95$6,756,306$0$0$4,365,670
96$7,365,407$0$0$4,760,840
97$8,034,116$0$0$5,194,739
98$8,768,431$0$0$5,671,267
99$9,574,965$0$0$6,194,720
100$10,460,997$0$0$6,769,833