Can I retire at age 62 with 579,000?

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 $579,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$47,813$47,387$46,972$46,566$46,170$45,443
2 years$23,670$23,229$22,802$22,388$21,986$21,255
3 years$15,623$15,180$14,754$14,344$13,949$13,237
4 years$11,601$11,159$10,737$10,334$9,948$9,261
5 years$9,188$8,749$8,333$7,938$7,563$6,902
6 years$7,580$7,144$6,734$6,348$5,984$5,351
7 years$6,431$6,000$5,596$5,219$4,867$4,261
8 years$5,571$5,143$4,746$4,378$4,037$3,459
9 years$4,902$4,478$4,088$3,729$3,400$2,849
10 years$4,367$3,947$3,564$3,214$2,897$2,373
11 years$3,929$3,514$3,137$2,798$2,491$1,994
12 years$3,565$3,154$2,784$2,454$2,159$1,687
13 years$3,257$2,850$2,488$2,166$1,883$1,436
14 years$2,993$2,591$2,235$1,923$1,650$1,227
15 years$2,765$2,367$2,018$1,715$1,453$1,054
16 years$2,565$2,171$1,830$1,536$1,284$907
17 years$2,389$2,000$1,665$1,380$1,139$784
18 years$2,233$1,848$1,520$1,243$1,013$678
19 years$2,093$1,713$1,391$1,124$902$588
20 years$1,968$1,591$1,277$1,018$806$511
21 years$1,854$1,482$1,175$924$721$445
22 years$1,751$1,384$1,082$840$647$387
23 years$1,658$1,294$999$765$580$338
24 years$1,572$1,212$924$697$522$295
25 years$1,493$1,138$856$637$469$258
26 years$1,420$1,069$794$582$423$225
27 years$1,353$1,006$737$533$381$197
28 years$1,290$948$685$488$344$173
29 years$1,233$895$638$448$311$151
30 years$1,179$845$594$411$281$132
31 years$1,128$799$554$378$254$116
32 years$1,081$756$517$347$230$102
33 years$1,037$716$483$319$208$89
34 years$995$678$451$294$188$78
35 years$956$643$422$270$170$69
36 years$920$611$394$249$154$60
37 years$885$580$369$229$140$53
38 years$852$551$346$211$127$46
39 years$821$524$324$195$115$41
40 years$792$499$304$180$104$36
41 years$764$475$285$166$95$31
42 years$737$452$267$153$86$28
43 years$712$431$251$141$78$24
44 years$688$411$235$130$71$21
45 years$665$392$221$120$64$19
46 years$643$374$207$111$58$16
47 years$622$356$195$103$53$14
48 years$603$340$183$95$48$13
49 years$584$325$172$88$44$11
50 years$565$310$162$81$40$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $579,000, adding $2,162 every year, while hoping to spend $41,274 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: 67/20/13 Blend
61$579,000$579,000$579,000$579,000
62$640,288$609,601$600,627$681,158
63$661,682$595,556$576,832$694,617
64$683,875$579,440$550,858$704,246
65$706,905$561,107$522,586$713,723
66$730,812$540,404$491,895$723,029
67$755,640$517,168$458,658$732,145
68$781,433$491,228$422,742$741,051
69$808,242$462,401$384,007$749,726
70$836,120$430,496$342,308$758,151
71$865,122$395,308$297,493$766,303
72$895,310$356,624$249,404$774,161
73$926,748$314,215$197,876$781,703
74$959,507$267,841$142,735$788,908
75$993,661$217,250$83,801$795,754
76$1,029,291$162,172$20,886$802,219
77$1,066,486$102,326$0$808,282
78$1,105,339$37,412$0$820,339
79$1,145,953$0$0$835,463
80$1,188,437$0$0$858,002
81$1,232,910$0$0$890,225
82$1,279,503$0$0$923,994
83$1,328,354$0$0$959,410
84$1,379,615$0$0$996,586
85$1,433,453$0$0$1,035,641
86$1,490,044$0$0$1,076,709
87$1,549,585$0$0$1,119,932
88$1,612,287$0$0$1,165,466
89$1,678,381$0$0$1,213,479
90$1,748,119$0$0$1,264,159
91$1,821,774$0$0$1,317,705
92$1,899,644$0$0$1,374,337
93$1,982,058$0$0$1,434,296
94$2,069,370$0$0$1,497,845
95$2,161,969$0$0$1,565,268
96$2,260,282$0$0$1,636,880
97$2,364,773$0$0$1,713,022
98$2,475,952$0$0$1,794,071
99$2,594,375$0$0$1,880,436
100$2,720,652$0$0$1,972,565