Can I retire at age 62 with 575,000?

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 $575,000?

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$47,483$47,060$46,647$46,245$45,851$45,278
2 years$23,506$23,069$22,644$22,233$21,834$21,257
3 years$15,515$15,076$14,652$14,245$13,852$13,290
4 years$11,520$11,082$10,663$10,263$9,880$9,336
5 years$9,124$8,689$8,275$7,883$7,510$6,987
6 years$7,527$7,095$6,687$6,304$5,943$5,440
7 years$6,387$5,958$5,557$5,183$4,833$4,352
8 years$5,532$5,107$4,713$4,348$4,009$3,549
9 years$4,868$4,447$4,059$3,703$3,377$2,937
10 years$4,336$3,920$3,539$3,192$2,877$2,458
11 years$3,902$3,489$3,116$2,778$2,474$2,076
12 years$3,540$3,132$2,765$2,437$2,144$1,765
13 years$3,234$2,830$2,470$2,151$1,870$1,510
14 years$2,973$2,573$2,220$1,910$1,639$1,298
15 years$2,746$2,350$2,004$1,703$1,443$1,120
16 years$2,547$2,156$1,817$1,525$1,275$970
17 years$2,373$1,986$1,653$1,370$1,131$843
18 years$2,218$1,835$1,509$1,235$1,006$734
19 years$2,079$1,701$1,382$1,116$896$640
20 years$1,954$1,580$1,268$1,011$801$559
21 years$1,842$1,472$1,166$917$716$490
22 years$1,739$1,374$1,075$834$642$429
23 years$1,646$1,285$993$759$576$377
24 years$1,561$1,204$918$693$518$331
25 years$1,482$1,130$850$633$466$291
26 years$1,410$1,062$789$578$420$256
27 years$1,343$999$732$529$379$225
28 years$1,282$942$681$485$342$199
29 years$1,224$888$633$445$308$175
30 years$1,170$839$590$408$279$154
31 years$1,120$793$550$375$252$136
32 years$1,074$751$513$345$228$120
33 years$1,030$711$479$317$206$106
34 years$989$674$448$292$187$94
35 years$950$639$419$268$169$83
36 years$913$606$392$247$153$73
37 years$879$576$367$228$139$65
38 years$846$547$343$210$126$57
39 years$815$521$322$194$114$51
40 years$786$495$301$179$104$45
41 years$758$471$283$165$94$39
42 years$732$449$265$152$85$35
43 years$707$428$249$140$77$31
44 years$683$408$234$130$70$27
45 years$660$389$219$120$64$24
46 years$639$371$206$111$58$21
47 years$618$354$193$102$53$19
48 years$598$338$182$94$48$17
49 years$579$323$171$87$43$15
50 years$561$308$161$81$39$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $575,000, adding $6,014 every year, while hoping to spend $28,577 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: 53/24/23 Blend
61$575,000$575,000$575,000$575,000
62$639,853$609,378$600,466$669,408
63$674,713$608,832$590,176$689,876
64$712,170$607,302$578,583$708,682
65$752,460$604,708$565,614$728,551
66$795,840$600,968$551,192$749,593
67$842,594$595,994$535,235$771,932
68$893,033$589,692$517,660$795,706
69$947,498$581,962$498,377$821,070
70$1,006,365$572,700$477,294$848,193
71$1,070,046$561,794$454,316$877,267
72$1,138,995$549,127$429,340$908,501
73$1,213,711$534,572$402,261$942,132
74$1,294,741$517,998$372,969$978,419
75$1,382,690$499,265$341,348$1,017,653
76$1,478,220$478,225$307,279$1,060,154
77$1,582,060$454,720$270,635$1,106,281
78$1,695,014$428,585$231,284$1,156,428
79$1,817,964$399,644$189,091$1,211,034
80$1,951,881$367,711$143,911$1,270,587
81$2,097,836$332,592$95,594$1,335,625
82$2,257,003$294,077$43,985$1,406,748
83$2,430,680$251,949$0$1,484,617
84$2,620,290$205,976$0$1,572,689
85$2,827,404$155,913$0$1,680,750
86$3,053,749$101,502$0$1,798,939
87$3,301,226$42,470$0$1,928,298
88$3,571,929$0$0$2,069,976
89$3,868,164$0$0$2,230,914
90$4,192,471$0$0$2,419,436
91$4,547,644$0$0$2,625,958
92$4,936,762$0$0$2,852,277
93$5,363,215$0$0$3,100,372
94$5,830,739$0$0$3,372,424
95$6,343,444$0$0$3,670,833
96$6,905,862$0$0$3,998,244
97$7,522,981$0$0$4,357,570
98$8,200,297$0$0$4,752,019
99$8,943,863$0$0$5,185,127
100$9,760,348$0$0$5,660,786