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%14.7%
1 years$47,648$47,224$46,810$46,405$46,011$45,119
2 years$23,588$23,149$22,723$22,310$21,910$21,015
3 years$15,569$15,128$14,703$14,294$13,901$13,030
4 years$11,561$11,121$10,700$10,298$9,914$9,075
5 years$9,156$8,719$8,304$7,910$7,536$6,732
6 years$7,553$7,120$6,711$6,326$5,963$5,193
7 years$6,409$5,979$5,577$5,201$4,850$4,115
8 years$5,551$5,125$4,729$4,363$4,023$3,323
9 years$4,885$4,462$4,073$3,716$3,388$2,723
10 years$4,352$3,933$3,551$3,203$2,887$2,255
11 years$3,916$3,502$3,127$2,788$2,483$1,884
12 years$3,553$3,143$2,775$2,445$2,152$1,585
13 years$3,246$2,840$2,479$2,159$1,876$1,341
14 years$2,983$2,582$2,227$1,916$1,645$1,139
15 years$2,755$2,358$2,011$1,709$1,448$972
16 years$2,556$2,164$1,823$1,530$1,280$832
17 years$2,381$1,993$1,659$1,375$1,135$714
18 years$2,225$1,841$1,515$1,239$1,009$614
19 years$2,086$1,707$1,387$1,120$899$529
20 years$1,961$1,586$1,272$1,014$803$456
21 years$1,848$1,477$1,170$920$719$394
22 years$1,745$1,379$1,079$837$644$341
23 years$1,652$1,290$996$762$578$296
24 years$1,566$1,208$921$695$520$256
25 years$1,488$1,134$853$635$468$222
26 years$1,415$1,066$791$580$421$193
27 years$1,348$1,003$735$531$380$168
28 years$1,286$945$683$487$343$146
29 years$1,228$892$636$446$310$127
30 years$1,175$842$592$410$280$110
31 years$1,124$796$552$376$253$96
32 years$1,077$753$515$346$229$83
33 years$1,033$713$481$318$207$73
34 years$992$676$449$293$187$63
35 years$953$641$420$269$170$55
36 years$916$609$393$248$154$48
37 years$882$578$368$229$139$42
38 years$849$549$344$211$126$36
39 years$818$522$323$194$115$32
40 years$789$497$302$179$104$28
41 years$761$473$284$165$94$24
42 years$735$451$266$153$86$21
43 years$709$429$250$141$78$18
44 years$686$409$234$130$70$16
45 years$663$390$220$120$64$14
46 years$641$372$207$111$58$12
47 years$620$355$194$102$53$11
48 years$600$339$182$95$48$9
49 years$581$324$171$88$44$8
50 years$563$309$161$81$40$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $577,000, adding $5,047 every year, while hoping to spend $21,787 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: 42/45/13 Blend
61$577,000$577,000$577,000$577,000
62$641,060$610,479$601,535$665,344
63$683,267$617,211$598,506$689,615
64$729,049$623,543$594,644$713,326
65$778,747$629,432$589,900$738,523
66$832,738$634,833$584,220$765,352
67$891,434$639,697$577,549$793,974
68$955,291$643,972$569,827$824,567
69$1,024,808$647,605$560,994$857,330
70$1,100,537$650,535$550,985$892,480
71$1,183,082$652,702$539,734$930,259
72$1,273,112$654,040$527,170$970,936
73$1,371,359$654,478$513,220$1,014,808
74$1,478,631$653,941$497,807$1,062,203
75$1,595,819$652,351$480,851$1,113,485
76$1,723,900$649,624$462,267$1,169,055
77$1,863,952$645,670$441,967$1,229,358
78$2,017,163$640,395$419,861$1,294,888
79$2,184,838$633,699$395,851$1,366,189
80$2,368,417$625,476$369,837$1,443,863
81$2,569,483$615,612$341,715$1,528,576
82$2,789,782$603,989$311,374$1,621,064
83$3,031,236$590,480$278,701$1,722,143
84$3,295,960$574,952$243,575$1,832,712
85$3,586,285$557,262$205,872$1,953,767
86$3,904,779$537,260$165,462$2,086,408
87$4,254,269$514,789$122,207$2,231,850
88$4,637,870$489,679$75,966$2,391,436
89$5,059,012$461,753$26,591$2,566,652
90$5,521,476$430,823$0$2,759,135
91$6,029,424$396,691$0$2,974,320
92$6,587,442$359,146$0$3,214,756
93$7,200,584$317,966$0$3,478,987
94$7,874,414$272,917$0$3,769,477
95$8,615,065$223,751$0$4,088,947
96$9,429,293$170,206$0$4,440,399
97$10,324,540$112,005$0$4,827,149
98$11,309,006$48,856$0$5,252,854
99$12,391,725$0$0$5,721,548
100$13,582,652$0$0$6,247,366