Can I retire at age 62 with 596,000?

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 $596,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$49,217$48,779$48,351$47,934$47,526$47,108
2 years$24,365$23,911$23,471$23,045$22,631$22,210
3 years$16,082$15,626$15,188$14,765$14,358$13,947
4 years$11,941$11,487$11,053$10,637$10,240$9,842
5 years$9,457$9,006$8,577$8,171$7,785$7,401
6 years$7,802$7,354$6,932$6,534$6,160$5,790
7 years$6,620$6,176$5,760$5,372$5,009$4,655
8 years$5,734$5,294$4,885$4,506$4,156$3,816
9 years$5,046$4,609$4,208$3,839$3,500$3,175
10 years$4,495$4,063$3,668$3,309$2,982$2,671
11 years$4,045$3,617$3,230$2,880$2,565$2,268
12 years$3,670$3,246$2,866$2,526$2,222$1,940
13 years$3,353$2,934$2,561$2,230$1,938$1,669
14 years$3,081$2,667$2,301$1,980$1,699$1,444
15 years$2,846$2,436$2,077$1,765$1,496$1,253
16 years$2,641$2,235$1,883$1,581$1,322$1,092
17 years$2,459$2,058$1,714$1,420$1,172$955
18 years$2,299$1,902$1,564$1,280$1,042$836
19 years$2,155$1,763$1,432$1,157$929$735
20 years$2,026$1,638$1,314$1,047$830$646
21 years$1,909$1,526$1,209$951$743$570
22 years$1,803$1,424$1,114$864$666$503
23 years$1,706$1,332$1,029$787$597$444
24 years$1,618$1,248$951$718$537$393
25 years$1,537$1,171$881$656$483$348
26 years$1,462$1,101$817$600$435$308
27 years$1,393$1,036$759$549$392$273
28 years$1,328$976$706$503$354$243
29 years$1,269$921$657$461$320$215
30 years$1,213$870$612$423$289$191
31 years$1,161$822$570$389$261$170
32 years$1,113$778$532$357$236$151
33 years$1,067$737$497$328$214$135
34 years$1,025$698$464$302$194$120
35 years$984$662$434$278$175$107
36 years$947$629$406$256$159$95
37 years$911$597$380$236$144$85
38 years$877$567$356$218$131$75
39 years$845$540$333$201$118$67
40 years$815$513$312$185$107$60
41 years$786$489$293$171$97$53
42 years$759$465$275$158$88$47
43 years$733$443$258$145$80$42
44 years$708$423$242$134$73$38
45 years$685$403$227$124$66$34
46 years$662$384$213$115$60$30
47 years$641$367$201$106$55$27
48 years$620$350$188$98$49$24
49 years$601$334$177$90$45$21
50 years$582$320$167$84$41$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $596,000, adding $4,881 every year, while hoping to spend $46,298 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: 62/19/19 Blend
61$596,000$596,000$596,000$596,000
62$661,827$630,239$621,001$699,345
63$680,072$611,860$592,544$706,845
64$698,627$591,028$561,581$709,413
65$717,474$567,576$527,981$711,144
66$736,593$541,323$491,605$711,961
67$755,958$512,081$452,306$711,782
68$775,542$479,649$409,935$710,517
69$795,312$443,816$364,332$708,070
70$815,229$404,358$315,332$704,340
71$835,249$361,039$262,763$699,214
72$855,323$313,609$206,444$692,574
73$875,394$261,803$146,188$684,291
74$895,395$205,342$81,796$674,226
75$915,254$143,933$13,065$662,231
76$934,887$77,263$0$648,144
77$954,201$5,004$0$644,014
78$973,089$0$0$641,053
79$991,433$0$0$651,757
80$1,009,099$0$0$663,020
81$1,025,939$0$0$673,693
82$1,041,784$0$0$683,660
83$1,056,448$0$0$692,793
84$1,069,722$0$0$700,949
85$1,081,375$0$0$707,967
86$1,091,145$0$0$713,671
87$1,098,746$0$0$717,861
88$1,103,856$0$0$720,317
89$1,106,117$0$0$720,795
90$1,105,134$0$0$719,022
91$1,100,465$0$0$714,697
92$1,091,623$0$0$707,484
93$1,078,064$0$0$697,012
94$1,059,188$0$0$682,868
95$1,034,328$0$0$664,597
96$1,002,745$0$0$641,693
97$963,624$0$0$613,596
98$916,058$0$0$579,686
99$859,045$0$0$539,277
100$791,478$0$0$491,612