Can I retire at age 62 with 577,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $577,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$47,648$47,224$46,810$46,405$46,011$45,683
2 years$23,588$23,149$22,723$22,310$21,910$21,579
3 years$15,569$15,128$14,703$14,294$13,901$13,577
4 years$11,561$11,121$10,700$10,298$9,914$9,600
5 years$9,156$8,719$8,304$7,910$7,536$7,234
6 years$7,553$7,120$6,711$6,326$5,963$5,672
7 years$6,409$5,979$5,577$5,201$4,850$4,570
8 years$5,551$5,125$4,729$4,363$4,023$3,755
9 years$4,885$4,462$4,073$3,716$3,388$3,131
10 years$4,352$3,933$3,551$3,203$2,887$2,641
11 years$3,916$3,502$3,127$2,788$2,483$2,248
12 years$3,553$3,143$2,775$2,445$2,152$1,928
13 years$3,246$2,840$2,479$2,159$1,876$1,663
14 years$2,983$2,582$2,227$1,916$1,645$1,442
15 years$2,755$2,358$2,011$1,709$1,448$1,255
16 years$2,556$2,164$1,823$1,530$1,280$1,097
17 years$2,381$1,993$1,659$1,375$1,135$961
18 years$2,225$1,841$1,515$1,239$1,009$845
19 years$2,086$1,707$1,387$1,120$899$744
20 years$1,961$1,586$1,272$1,014$803$656
21 years$1,848$1,477$1,170$920$719$580
22 years$1,745$1,379$1,079$837$644$514
23 years$1,652$1,290$996$762$578$455
24 years$1,566$1,208$921$695$520$404
25 years$1,488$1,134$853$635$468$359
26 years$1,415$1,066$791$580$421$319
27 years$1,348$1,003$735$531$380$284
28 years$1,286$945$683$487$343$253
29 years$1,228$892$636$446$310$225
30 years$1,175$842$592$410$280$201
31 years$1,124$796$552$376$253$179
32 years$1,077$753$515$346$229$160
33 years$1,033$713$481$318$207$142
34 years$992$676$449$293$187$127
35 years$953$641$420$269$170$114
36 years$916$609$393$248$154$101
37 years$882$578$368$229$139$91
38 years$849$549$344$211$126$81
39 years$818$522$323$194$115$72
40 years$789$497$302$179$104$65
41 years$761$473$284$165$94$58
42 years$735$451$266$153$86$52
43 years$709$429$250$141$78$46
44 years$686$409$234$130$70$41
45 years$663$390$220$120$64$37
46 years$641$372$207$111$58$33
47 years$620$355$194$102$53$30
48 years$600$339$182$95$48$27
49 years$581$324$171$88$44$24
50 years$563$309$161$81$40$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $577,000, adding $6,958 every year, while hoping to spend $34,992 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: 56/36/8 Blend
61$577,000$577,000$577,000$577,000
62$643,031$612,450$603,507$677,455
63$671,389$605,229$586,493$694,261
64$701,467$596,481$567,736$708,059
65$733,403$586,095$547,142$722,236
66$767,348$573,952$524,610$736,832
67$803,469$559,927$500,035$751,895
68$841,947$543,887$473,310$767,476
69$882,979$525,692$444,320$783,636
70$926,785$505,192$412,946$800,443
71$973,601$482,231$379,064$817,974
72$1,023,689$456,641$342,544$836,318
73$1,077,337$428,248$303,250$855,574
74$1,134,857$396,864$261,041$875,853
75$1,196,594$362,292$215,768$897,281
76$1,262,927$324,325$167,277$920,001
77$1,334,271$282,742$115,406$944,173
78$1,411,082$237,311$59,987$969,976
79$1,493,859$187,787$844$997,612
80$1,583,154$133,910$0$1,027,307
81$1,679,570$75,405$0$1,064,631
82$1,783,771$11,985$0$1,104,975
83$1,896,486$0$0$1,148,600
84$2,018,517$0$0$1,218,325
85$2,150,746$0$0$1,299,065
86$2,294,142$0$0$1,386,669
87$2,449,771$0$0$1,481,795
88$2,618,805$0$0$1,585,164
89$2,802,535$0$0$1,697,572
90$3,002,378$0$0$1,819,894
91$3,219,895$0$0$1,953,091
92$3,456,805$0$0$2,098,222
93$3,714,996$0$0$2,256,454
94$3,996,549$0$0$2,429,067
95$4,303,754$0$0$2,617,475
96$4,639,129$0$0$2,823,230
97$5,005,449$0$0$3,048,044
98$5,405,767$0$0$3,293,799
99$5,843,445$0$0$3,562,569
100$6,322,184$0$0$3,856,637