Can I retire at age 62 with 595,000?

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 $595,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$49,135$48,697$48,270$47,853$47,446$47,187
2 years$24,324$23,871$23,432$23,006$22,593$22,332
3 years$16,055$15,600$15,162$14,740$14,334$14,078
4 years$11,921$11,468$11,034$10,620$10,223$9,975
5 years$9,442$8,991$8,563$8,157$7,772$7,532
6 years$7,789$7,342$6,920$6,523$6,149$5,918
7 years$6,609$6,165$5,751$5,363$5,001$4,779
8 years$5,725$5,285$4,877$4,499$4,149$3,936
9 years$5,037$4,602$4,201$3,832$3,494$3,290
10 years$4,487$4,056$3,662$3,303$2,977$2,781
11 years$4,038$3,611$3,224$2,875$2,560$2,373
12 years$3,663$3,241$2,861$2,522$2,219$2,040
13 years$3,347$2,929$2,556$2,226$1,935$1,764
14 years$3,076$2,662$2,297$1,976$1,696$1,534
15 years$2,841$2,432$2,074$1,762$1,493$1,339
16 years$2,636$2,231$1,880$1,578$1,320$1,173
17 years$2,455$2,055$1,711$1,418$1,170$1,031
18 years$2,295$1,899$1,562$1,278$1,041$908
19 years$2,151$1,760$1,430$1,155$927$802
20 years$2,022$1,635$1,312$1,046$828$710
21 years$1,906$1,523$1,207$949$741$629
22 years$1,800$1,422$1,112$863$664$559
23 years$1,703$1,330$1,027$786$596$497
24 years$1,615$1,246$950$717$536$442
25 years$1,534$1,169$880$655$482$394
26 years$1,459$1,099$816$599$435$351
27 years$1,390$1,034$758$548$392$314
28 years$1,326$975$704$502$354$280
29 years$1,267$919$655$460$319$250
30 years$1,211$868$611$422$288$224
31 years$1,159$821$569$388$261$200
32 years$1,111$777$531$357$236$179
33 years$1,066$735$496$328$213$160
34 years$1,023$697$463$302$193$144
35 years$983$661$433$278$175$129
36 years$945$628$405$256$159$115
37 years$909$596$379$236$144$103
38 years$876$566$355$217$130$93
39 years$844$539$333$200$118$83
40 years$813$512$312$185$107$75
41 years$785$488$292$170$97$67
42 years$758$465$274$157$88$60
43 years$732$443$257$145$80$54
44 years$707$422$242$134$73$48
45 years$683$402$227$124$66$43
46 years$661$384$213$114$60$39
47 years$640$366$200$106$54$35
48 years$619$350$188$98$49$31
49 years$600$334$177$90$45$28
50 years$581$319$166$83$41$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $595,000, adding $4,193 every year, while hoping to spend $38,936 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: 47/39/14 Blend
61$595,000$595,000$595,000$595,000
62$660,015$628,480$619,258$688,256
63$685,909$617,848$598,575$697,607
64$713,139$605,390$575,895$703,426
65$741,801$590,975$551,109$708,884
66$771,997$574,466$524,104$713,962
67$803,842$555,716$494,762$718,642
68$837,457$534,569$462,960$722,906
69$872,977$510,862$428,568$726,738
70$910,548$484,422$391,453$730,123
71$950,330$455,065$351,473$733,049
72$992,498$422,597$308,481$735,506
73$1,037,241$386,813$262,324$737,486
74$1,084,769$347,496$212,841$738,985
75$1,135,309$304,417$159,864$740,005
76$1,189,111$257,334$103,220$740,548
77$1,246,447$205,990$42,725$740,627
78$1,307,618$150,116$0$740,258
79$1,372,949$89,427$0$742,727
80$1,442,802$23,620$0$751,828
81$1,517,568$0$0$761,245
82$1,597,680$0$0$791,502
83$1,683,610$0$0$834,875
84$1,775,879$0$0$881,495
85$1,875,057$0$0$931,656
86$1,981,769$0$0$985,682
87$2,096,702$0$0$1,043,927
88$2,220,612$0$0$1,106,781
89$2,354,327$0$0$1,174,671
90$2,498,758$0$0$1,248,068
91$2,654,906$0$0$1,327,490
92$2,823,871$0$0$1,413,505
93$3,006,863$0$0$1,506,738
94$3,205,211$0$0$1,607,875
95$3,420,378$0$0$1,717,673
96$3,653,971$0$0$1,836,963
97$3,907,759$0$0$1,966,660
98$4,183,688$0$0$2,107,769
99$4,483,897$0$0$2,261,396
100$4,810,743$0$0$2,428,761