Can I retire at age 62 with 576,000?

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 $576,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$47,566$47,142$46,728$46,325$45,931$45,718
2 years$23,547$23,109$22,684$22,272$21,872$21,657
3 years$15,542$15,102$14,678$14,270$13,876$13,666
4 years$11,541$11,101$10,682$10,280$9,897$9,693
5 years$9,140$8,704$8,289$7,896$7,523$7,326
6 years$7,540$7,107$6,699$6,315$5,953$5,763
7 years$6,398$5,969$5,567$5,192$4,841$4,659
8 years$5,542$5,116$4,721$4,355$4,016$3,841
9 years$4,876$4,455$4,066$3,710$3,382$3,214
10 years$4,344$3,926$3,545$3,198$2,882$2,721
11 years$3,909$3,496$3,121$2,783$2,479$2,325
12 years$3,546$3,137$2,770$2,441$2,148$2,001
13 years$3,240$2,835$2,475$2,155$1,873$1,733
14 years$2,978$2,577$2,224$1,913$1,642$1,508
15 years$2,750$2,354$2,008$1,706$1,446$1,318
16 years$2,552$2,160$1,820$1,528$1,278$1,157
17 years$2,377$1,989$1,656$1,373$1,133$1,018
18 years$2,221$1,838$1,512$1,237$1,007$898
19 years$2,083$1,704$1,384$1,118$898$794
20 years$1,958$1,583$1,270$1,012$802$704
21 years$1,845$1,475$1,168$919$718$625
22 years$1,742$1,376$1,077$835$643$556
23 years$1,649$1,287$994$761$577$495
24 years$1,564$1,206$920$694$519$441
25 years$1,485$1,132$852$634$467$394
26 years$1,413$1,064$790$579$421$352
27 years$1,346$1,001$734$530$379$314
28 years$1,284$943$682$486$342$281
29 years$1,226$890$635$446$309$252
30 years$1,172$841$591$409$279$225
31 years$1,122$795$551$376$252$202
32 years$1,075$752$514$345$228$181
33 years$1,032$712$480$317$207$162
34 years$990$675$449$292$187$146
35 years$951$640$419$269$169$131
36 years$915$608$392$248$154$117
37 years$880$577$367$228$139$105
38 years$848$548$344$210$126$95
39 years$817$521$322$194$114$85
40 years$787$496$302$179$104$76
41 years$760$472$283$165$94$69
42 years$733$450$266$152$85$62
43 years$708$429$249$141$78$56
44 years$684$408$234$130$70$50
45 years$662$390$220$120$64$45
46 years$640$372$206$111$58$40
47 years$619$355$194$102$53$36
48 years$599$339$182$95$48$33
49 years$580$323$171$87$43$29
50 years$562$309$161$81$39$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $576,000, adding $3,974 every year, while hoping to spend $25,811 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: 38/50/12 Blend
61$576,000$576,000$576,000$576,000
62$638,851$608,323$599,395$660,652
63$676,551$610,668$592,012$678,877
64$717,232$612,263$583,517$695,754
65$761,169$613,044$573,845$713,423
66$808,668$612,943$562,928$731,968
67$860,062$611,887$550,696$751,483
68$915,719$609,800$537,075$772,072
69$976,043$606,601$521,987$793,852
70$1,041,478$602,203$505,353$816,954
71$1,112,512$596,514$487,086$841,524
72$1,189,684$589,439$467,098$867,725
73$1,273,583$580,872$445,297$895,738
74$1,364,860$570,707$421,586$925,769
75$1,464,231$558,827$395,864$958,042
76$1,572,482$545,109$368,026$992,810
77$1,690,481$529,425$337,960$1,030,355
78$1,819,179$511,636$305,551$1,070,989
79$1,959,628$491,599$270,679$1,115,062
80$2,112,981$469,158$233,219$1,162,960
81$2,280,511$444,153$193,037$1,215,115
82$2,463,617$416,410$149,998$1,272,005
83$2,663,841$385,749$103,957$1,334,164
84$2,882,878$351,976$54,766$1,402,182
85$3,122,599$314,890$2,267$1,476,716
86$3,385,059$274,274$0$1,558,495
87$3,672,525$229,904$0$1,655,211
88$3,987,491$181,538$0$1,761,635
89$4,332,705$128,923$0$1,878,494
90$4,711,194$71,793$0$2,006,915
91$5,126,290$9,865$0$2,148,146
92$5,581,664$0$0$2,303,568
93$6,081,360$0$0$2,506,156
94$6,629,831$0$0$2,734,559
95$7,231,984$0$0$2,985,402
96$7,893,223$0$0$3,260,946
97$8,619,501$0$0$3,563,682
98$9,417,376$0$0$3,896,357
99$10,294,072$0$0$4,261,994
100$11,257,550$0$0$4,663,924