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%14.3%
1 years$47,566$47,142$46,728$46,325$45,931$45,114
2 years$23,547$23,109$22,684$22,272$21,872$21,052
3 years$15,542$15,102$14,678$14,270$13,876$13,079
4 years$11,541$11,101$10,682$10,280$9,897$9,127
5 years$9,140$8,704$8,289$7,896$7,523$6,785
6 years$7,540$7,107$6,699$6,315$5,953$5,246
7 years$6,398$5,969$5,567$5,192$4,841$4,166
8 years$5,542$5,116$4,721$4,355$4,016$3,372
9 years$4,876$4,455$4,066$3,710$3,382$2,769
10 years$4,344$3,926$3,545$3,198$2,882$2,299
11 years$3,909$3,496$3,121$2,783$2,479$1,926
12 years$3,546$3,137$2,770$2,441$2,148$1,624
13 years$3,240$2,835$2,475$2,155$1,873$1,378
14 years$2,978$2,577$2,224$1,913$1,642$1,174
15 years$2,750$2,354$2,008$1,706$1,446$1,004
16 years$2,552$2,160$1,820$1,528$1,278$862
17 years$2,377$1,989$1,656$1,373$1,133$742
18 years$2,221$1,838$1,512$1,237$1,007$640
19 years$2,083$1,704$1,384$1,118$898$553
20 years$1,958$1,583$1,270$1,012$802$478
21 years$1,845$1,475$1,168$919$718$415
22 years$1,742$1,376$1,077$835$643$360
23 years$1,649$1,287$994$761$577$313
24 years$1,564$1,206$920$694$519$272
25 years$1,485$1,132$852$634$467$237
26 years$1,413$1,064$790$579$421$206
27 years$1,346$1,001$734$530$379$180
28 years$1,284$943$682$486$342$157
29 years$1,226$890$635$446$309$137
30 years$1,172$841$591$409$279$119
31 years$1,122$795$551$376$252$104
32 years$1,075$752$514$345$228$91
33 years$1,032$712$480$317$207$79
34 years$990$675$449$292$187$69
35 years$951$640$419$269$169$61
36 years$915$608$392$248$154$53
37 years$880$577$367$228$139$46
38 years$848$548$344$210$126$40
39 years$817$521$322$194$114$35
40 years$787$496$302$179$104$31
41 years$760$472$283$165$94$27
42 years$733$450$266$152$85$24
43 years$708$429$249$141$78$21
44 years$684$408$234$130$70$18
45 years$662$390$220$120$64$16
46 years$640$372$206$111$58$14
47 years$619$355$194$102$53$12
48 years$599$339$182$95$48$11
49 years$580$323$171$87$43$9
50 years$562$309$161$81$39$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $576,000, adding $2,329 every year, while hoping to spend $46,009 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: 63/26/11 Blend
61$576,000$576,000$576,000$576,000
62$637,154$606,626$597,698$675,558
63$653,191$587,398$568,768$682,301
64$669,321$565,685$537,327$684,128
65$685,506$541,318$503,241$684,972
66$701,701$514,116$466,373$684,738
67$717,856$483,889$426,578$683,321
68$733,912$450,434$383,703$680,611
69$749,806$413,540$337,592$676,486
70$765,464$372,981$288,079$670,815
71$780,802$328,519$234,991$663,457
72$795,729$279,901$178,148$654,257
73$810,140$226,863$117,363$643,051
74$823,918$169,123$52,438$629,657
75$836,933$106,385$0$613,882
76$849,037$38,335$0$597,491
77$860,069$0$0$584,975
78$869,845$0$0$580,066
79$878,163$0$0$585,090
80$884,797$0$0$588,922
81$889,495$0$0$591,384
82$891,977$0$0$592,284
83$891,933$0$0$591,403
84$889,017$0$0$588,502
85$882,845$0$0$583,313
86$872,994$0$0$575,541
87$858,990$0$0$564,856
88$840,312$0$0$550,897
89$816,381$0$0$533,259
90$786,555$0$0$511,496
91$750,124$0$0$485,114
92$706,303$0$0$453,567
93$654,221$0$0$416,250
94$592,917$0$0$372,493
95$521,327$0$0$321,558
96$438,274$0$0$262,626
97$342,459$0$0$194,794
98$232,445$0$0$117,062
99$106,643$0$0$28,326
100$0$0$0$0