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%12.4%
1 years$47,566$47,142$46,728$46,325$45,931$45,470
2 years$23,547$23,109$22,684$22,272$21,872$21,408
3 years$15,542$15,102$14,678$14,270$13,876$13,423
4 years$11,541$11,101$10,682$10,280$9,897$9,458
5 years$9,140$8,704$8,289$7,896$7,523$7,101
6 years$7,540$7,107$6,699$6,315$5,953$5,547
7 years$6,398$5,969$5,567$5,192$4,841$4,452
8 years$5,542$5,116$4,721$4,355$4,016$3,643
9 years$4,876$4,455$4,066$3,710$3,382$3,026
10 years$4,344$3,926$3,545$3,198$2,882$2,541
11 years$3,909$3,496$3,121$2,783$2,479$2,154
12 years$3,546$3,137$2,770$2,441$2,148$1,839
13 years$3,240$2,835$2,475$2,155$1,873$1,579
14 years$2,978$2,577$2,224$1,913$1,642$1,363
15 years$2,750$2,354$2,008$1,706$1,446$1,181
16 years$2,552$2,160$1,820$1,528$1,278$1,027
17 years$2,377$1,989$1,656$1,373$1,133$896
18 years$2,221$1,838$1,512$1,237$1,007$783
19 years$2,083$1,704$1,384$1,118$898$686
20 years$1,958$1,583$1,270$1,012$802$602
21 years$1,845$1,475$1,168$919$718$530
22 years$1,742$1,376$1,077$835$643$466
23 years$1,649$1,287$994$761$577$411
24 years$1,564$1,206$920$694$519$363
25 years$1,485$1,132$852$634$467$321
26 years$1,413$1,064$790$579$421$283
27 years$1,346$1,001$734$530$379$251
28 years$1,284$943$682$486$342$222
29 years$1,226$890$635$446$309$197
30 years$1,172$841$591$409$279$174
31 years$1,122$795$551$376$252$155
32 years$1,075$752$514$345$228$137
33 years$1,032$712$480$317$207$122
34 years$990$675$449$292$187$108
35 years$951$640$419$269$169$96
36 years$915$608$392$248$154$85
37 years$880$577$367$228$139$76
38 years$848$548$344$210$126$67
39 years$817$521$322$194$114$60
40 years$787$496$302$179$104$53
41 years$760$472$283$165$94$47
42 years$733$450$266$152$85$42
43 years$708$429$249$141$78$37
44 years$684$408$234$130$70$33
45 years$662$390$220$120$64$29
46 years$640$372$206$111$58$26
47 years$619$355$194$102$53$23
48 years$599$339$182$95$48$21
49 years$580$323$171$87$43$18
50 years$562$309$161$81$39$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $576,000, adding $4,545 every year, while hoping to spend $47,465 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: 58/14/28 Blend
61$576,000$576,000$576,000$576,000
62$639,440$608,912$599,984$671,399
63$654,161$588,246$569,581$673,137
64$668,792$564,977$536,569$669,638
65$683,274$538,927$500,810$664,844
66$697,542$509,908$462,160$658,645
67$711,518$477,720$420,470$650,918
68$725,119$442,155$375,582$641,535
69$738,250$402,989$327,333$630,353
70$750,804$359,988$275,551$617,222
71$762,662$312,904$220,058$601,977
72$773,691$261,473$160,667$584,440
73$783,741$205,419$97,183$564,419
74$792,648$144,450$29,404$541,708
75$800,225$78,255$0$516,079
76$806,267$6,509$0$500,117
77$810,545$0$0$490,939
78$812,803$0$0$490,493
79$812,758$0$0$489,551
80$810,096$0$0$486,906
81$804,467$0$0$482,336
82$795,484$0$0$475,591
83$782,716$0$0$466,396
84$765,688$0$0$454,445
85$743,873$0$0$439,400
86$716,684$0$0$420,887
87$683,476$0$0$398,490
88$643,532$0$0$371,751
89$596,060$0$0$340,162
90$540,182$0$0$303,161
91$474,929$0$0$260,128
92$399,230$0$0$210,376
93$311,898$0$0$153,146
94$211,626$0$0$87,601
95$96,964$0$0$12,812
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0