Can I retire at age 62 with 577,000?

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 $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%13.9%
1 years$47,648$47,224$46,810$46,405$46,011$45,267
2 years$23,588$23,149$22,723$22,310$21,910$21,163
3 years$15,569$15,128$14,703$14,294$13,901$13,173
4 years$11,561$11,121$10,700$10,298$9,914$9,212
5 years$9,156$8,719$8,304$7,910$7,536$6,862
6 years$7,553$7,120$6,711$6,326$5,963$5,317
7 years$6,409$5,979$5,577$5,201$4,850$4,232
8 years$5,551$5,125$4,729$4,363$4,023$3,433
9 years$4,885$4,462$4,073$3,716$3,388$2,826
10 years$4,352$3,933$3,551$3,203$2,887$2,352
11 years$3,916$3,502$3,127$2,788$2,483$1,975
12 years$3,553$3,143$2,775$2,445$2,152$1,670
13 years$3,246$2,840$2,479$2,159$1,876$1,420
14 years$2,983$2,582$2,227$1,916$1,645$1,214
15 years$2,755$2,358$2,011$1,709$1,448$1,041
16 years$2,556$2,164$1,823$1,530$1,280$896
17 years$2,381$1,993$1,659$1,375$1,135$773
18 years$2,225$1,841$1,515$1,239$1,009$669
19 years$2,086$1,707$1,387$1,120$899$580
20 years$1,961$1,586$1,272$1,014$803$503
21 years$1,848$1,477$1,170$920$719$438
22 years$1,745$1,379$1,079$837$644$381
23 years$1,652$1,290$996$762$578$332
24 years$1,566$1,208$921$695$520$290
25 years$1,488$1,134$853$635$468$253
26 years$1,415$1,066$791$580$421$221
27 years$1,348$1,003$735$531$380$193
28 years$1,286$945$683$487$343$169
29 years$1,228$892$636$446$310$148
30 years$1,175$842$592$410$280$129
31 years$1,124$796$552$376$253$113
32 years$1,077$753$515$346$229$99
33 years$1,033$713$481$318$207$87
34 years$992$676$449$293$187$76
35 years$953$641$420$269$170$67
36 years$916$609$393$248$154$59
37 years$882$578$368$229$139$51
38 years$849$549$344$211$126$45
39 years$818$522$323$194$115$40
40 years$789$497$302$179$104$35
41 years$761$473$284$165$94$30
42 years$735$451$266$153$86$27
43 years$709$429$250$141$78$23
44 years$686$409$234$130$70$21
45 years$663$390$220$120$64$18
46 years$641$372$207$111$58$16
47 years$620$355$194$102$53$14
48 years$600$339$182$95$48$12
49 years$581$324$171$88$44$11
50 years$563$309$161$81$40$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $577,000, adding $5,709 every year, while hoping to spend $33,359 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: 58/31/11 Blend
61$577,000$577,000$577,000$577,000
62$641,743$611,162$602,218$676,924
63$671,707$605,615$586,899$695,759
64$703,609$598,678$569,948$712,055
65$737,612$590,249$551,277$729,014
66$773,894$580,216$530,790$746,705
67$812,650$568,465$508,389$765,204
68$854,092$554,872$483,973$784,596
69$898,457$539,308$457,433$804,975
70$946,000$521,634$428,657$826,449
71$997,003$501,706$397,528$849,137
72$1,051,775$479,367$363,924$873,172
73$1,110,657$454,457$327,715$898,705
74$1,174,019$426,801$288,770$925,902
75$1,242,272$396,217$246,946$954,949
76$1,315,865$362,512$202,100$986,054
77$1,395,290$325,483$154,078$1,019,450
78$1,481,091$284,913$102,721$1,055,394
79$1,573,864$240,575$47,863$1,094,174
80$1,674,263$192,228$0$1,136,112
81$1,783,008$139,618$0$1,182,819
82$1,900,892$82,476$0$1,239,513
83$2,028,784$20,518$0$1,301,037
84$2,167,642$0$0$1,367,904
85$2,318,520$0$0$1,456,566
86$2,482,574$0$0$1,560,625
87$2,661,081$0$0$1,673,896
88$2,855,442$0$0$1,797,274
89$3,067,200$0$0$1,931,746
90$3,298,053$0$0$2,078,394
91$3,549,870$0$0$2,238,413
92$3,824,708$0$0$2,413,117
93$4,124,831$0$0$2,603,952
94$4,452,732$0$0$2,812,511
95$4,811,154$0$0$3,040,545
96$5,203,119$0$0$3,289,985
97$5,631,954$0$0$3,562,956
98$6,101,320$0$0$3,861,798
99$6,615,251$0$0$4,189,087
100$7,178,188$0$0$4,547,662