Can I retire at age 62 with 603,000?

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 $603,000?

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$49,795$49,352$48,919$48,497$48,084$47,821
2 years$24,651$24,192$23,747$23,316$22,897$22,632
3 years$16,271$15,810$15,366$14,939$14,527$14,267
4 years$12,081$11,622$11,182$10,762$10,361$10,109
5 years$9,569$9,112$8,678$8,267$7,876$7,633
6 years$7,894$7,440$7,013$6,611$6,232$5,998
7 years$6,698$6,248$5,828$5,435$5,068$4,843
8 years$5,802$5,356$4,943$4,559$4,205$3,989
9 years$5,105$4,663$4,257$3,884$3,541$3,334
10 years$4,548$4,111$3,711$3,348$3,017$2,819
11 years$4,092$3,659$3,267$2,913$2,595$2,405
12 years$3,713$3,284$2,900$2,556$2,249$2,068
13 years$3,392$2,968$2,591$2,256$1,961$1,788
14 years$3,117$2,698$2,328$2,003$1,719$1,554
15 years$2,879$2,465$2,102$1,786$1,513$1,357
16 years$2,672$2,261$1,905$1,599$1,338$1,189
17 years$2,488$2,083$1,734$1,437$1,186$1,045
18 years$2,326$1,924$1,583$1,295$1,054$921
19 years$2,180$1,783$1,449$1,170$940$813
20 years$2,049$1,657$1,330$1,060$840$720
21 years$1,931$1,544$1,223$962$751$638
22 years$1,824$1,441$1,127$874$673$566
23 years$1,726$1,348$1,041$796$605$503
24 years$1,637$1,263$963$726$543$448
25 years$1,555$1,185$892$663$489$399
26 years$1,479$1,114$827$607$440$356
27 years$1,409$1,048$768$555$397$318
28 years$1,344$988$714$509$358$284
29 years$1,284$932$664$466$324$254
30 years$1,227$880$619$428$292$227
31 years$1,175$832$577$393$264$203
32 years$1,126$787$538$361$239$182
33 years$1,080$745$503$332$216$163
34 years$1,037$706$470$306$196$146
35 years$996$670$439$281$177$131
36 years$958$636$411$259$161$117
37 years$922$604$384$239$146$105
38 years$887$574$360$220$132$94
39 years$855$546$337$203$120$84
40 years$824$519$316$187$109$76
41 years$795$494$296$173$99$68
42 years$768$471$278$159$89$61
43 years$741$449$261$147$81$55
44 years$716$428$245$136$74$49
45 years$693$408$230$125$67$44
46 years$670$389$216$116$61$40
47 years$648$371$203$107$55$36
48 years$628$354$191$99$50$32
49 years$608$338$179$91$45$29
50 years$589$323$168$85$41$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $603,000, adding $4,344 every year, while hoping to spend $52,474 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: 79/9/12 Blend
61$603,000$603,000$603,000$603,000
62$668,987$637,028$627,681$719,995
63$681,392$612,410$592,877$729,522
64$693,303$584,828$555,147$732,765
65$704,615$554,080$514,340$734,810
66$715,210$519,953$470,295$735,516
67$724,955$482,225$422,843$734,725
68$733,703$440,657$371,811$732,265
69$741,290$394,998$317,016$727,946
70$747,532$344,984$258,267$721,561
71$752,226$290,334$195,364$712,882
72$755,145$230,751$128,101$701,656
73$756,036$165,925$56,259$687,609
74$754,620$95,524$0$670,437
75$750,586$19,199$0$652,422
76$743,589$0$0$638,441
77$733,246$0$0$627,195
78$719,134$0$0$614,557
79$700,781$0$0$598,217
80$677,667$0$0$577,721
81$649,217$0$0$552,567
82$614,790$0$0$522,198
83$573,682$0$0$486,000
84$525,111$0$0$443,292
85$468,212$0$0$393,320
86$402,030$0$0$335,253
87$325,508$0$0$268,170
88$237,479$0$0$191,055
89$136,652$0$0$102,783
90$21,602$0$0$2,112
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0