Can I retire at age 62 with 599,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $599,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$49,465$49,024$48,594$48,175$47,765$45,924
2 years$24,488$24,031$23,590$23,161$22,745$20,913
3 years$16,163$15,705$15,264$14,839$14,431$12,664
4 years$12,001$11,545$11,108$10,691$10,292$8,605
5 years$9,505$9,051$8,620$8,212$7,824$6,220
6 years$7,841$7,391$6,967$6,567$6,191$4,672
7 years$6,654$6,207$5,789$5,399$5,035$3,600
8 years$5,763$5,320$4,910$4,529$4,177$2,825
9 years$5,071$4,632$4,229$3,858$3,517$2,246
10 years$4,517$4,083$3,687$3,325$2,997$1,804
11 years$4,065$3,635$3,246$2,894$2,578$1,461
12 years$3,688$3,263$2,881$2,539$2,234$1,190
13 years$3,369$2,949$2,574$2,241$1,948$974
14 years$3,097$2,680$2,312$1,989$1,707$800
15 years$2,860$2,448$2,088$1,774$1,503$659
16 years$2,654$2,246$1,893$1,589$1,329$545
17 years$2,472$2,069$1,722$1,427$1,178$451
18 years$2,310$1,912$1,572$1,286$1,047$374
19 years$2,166$1,772$1,439$1,162$934$311
20 years$2,036$1,646$1,321$1,053$834$258
21 years$1,918$1,533$1,215$955$746$215
22 years$1,812$1,431$1,120$869$669$179
23 years$1,715$1,339$1,034$791$600$149
24 years$1,626$1,254$956$722$540$124
25 years$1,544$1,177$886$659$486$104
26 years$1,469$1,106$821$603$437$87
27 years$1,400$1,041$763$552$394$72
28 years$1,335$981$709$505$356$60
29 years$1,275$926$660$463$321$50
30 years$1,219$874$615$425$290$42
31 years$1,167$826$573$391$263$35
32 years$1,118$782$535$359$237$29
33 years$1,073$740$499$330$215$25
34 years$1,030$702$466$304$195$21
35 years$989$666$436$280$176$17
36 years$951$632$408$257$160$14
37 years$915$600$382$237$145$12
38 years$881$570$358$219$131$10
39 years$849$542$335$202$119$8
40 years$819$516$314$186$108$7
41 years$790$491$294$172$98$6
42 years$763$468$276$158$89$5
43 years$737$446$259$146$81$4
44 years$712$425$243$135$73$3
45 years$688$405$228$125$66$3
46 years$665$386$215$115$60$2
47 years$644$369$202$106$55$2
48 years$623$352$189$98$50$2
49 years$604$336$178$91$45$1
50 years$585$321$167$84$41$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $599,000, adding $5,549 every year, while hoping to spend $33,965 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: 33/43/24 Blend
61$599,000$599,000$599,000$599,000
62$665,822$634,075$624,790$682,759
63$697,597$629,006$609,582$690,883
64$731,475$622,550$592,726$696,182
65$767,635$614,604$574,132$701,209
66$806,271$605,058$553,703$705,962
67$847,599$593,794$531,340$710,442
68$891,854$580,689$506,940$714,653
69$939,293$565,613$480,393$718,603
70$990,200$548,428$451,585$722,305
71$1,044,885$528,985$420,398$725,775
72$1,103,689$507,131$386,707$729,037
73$1,166,987$482,702$350,382$732,121
74$1,235,188$455,523$311,289$735,064
75$1,308,745$425,411$269,285$737,913
76$1,388,152$392,172$224,221$740,723
77$1,473,956$355,600$175,945$743,563
78$1,566,755$315,480$124,294$746,511
79$1,667,206$271,580$69,100$749,663
80$1,776,033$223,660$10,187$753,129
81$1,894,032$171,463$0$757,036
82$2,022,078$114,720$0$775,026
83$2,161,132$53,143$0$797,439
84$2,312,253$0$0$821,912
85$2,476,605$0$0$855,145
86$2,655,469$0$0$918,758
87$2,850,253$0$0$988,115
88$3,062,510$0$0$1,063,779
89$3,293,944$0$0$1,146,370
90$3,546,436$0$0$1,236,568
91$3,822,051$0$0$1,335,125
92$4,123,067$0$0$1,442,866
93$4,451,988$0$0$1,560,701
94$4,811,572$0$0$1,689,630
95$5,204,856$0$0$1,830,758
96$5,635,185$0$0$1,985,297
97$6,106,239$0$0$2,154,584
98$6,622,073$0$0$2,340,093
99$7,187,152$0$0$2,543,445
100$7,806,392$0$0$2,766,425