Can I retire at age 62 with 500,000?

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 $500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$41,290$40,922$40,563$40,213$39,871$39,553
2 years$20,440$20,060$19,691$19,333$18,986$18,666
3 years$13,492$13,109$12,741$12,387$12,046$11,733
4 years$10,018$9,637$9,272$8,924$8,591$8,288
5 years$7,934$7,555$7,196$6,855$6,531$6,238
6 years$6,545$6,169$5,815$5,482$5,168$4,886
7 years$5,554$5,181$4,832$4,507$4,203$3,933
8 years$4,811$4,441$4,098$3,781$3,486$3,228
9 years$4,233$3,867$3,530$3,220$2,936$2,688
10 years$3,771$3,408$3,077$2,776$2,502$2,265
11 years$3,393$3,034$2,709$2,416$2,152$1,925
12 years$3,079$2,723$2,404$2,119$1,864$1,649
13 years$2,813$2,461$2,148$1,871$1,626$1,421
14 years$2,585$2,237$1,930$1,661$1,425$1,230
15 years$2,388$2,044$1,743$1,481$1,255$1,070
16 years$2,215$1,875$1,580$1,326$1,109$933
17 years$2,063$1,727$1,438$1,191$983$817
18 years$1,928$1,596$1,312$1,074$874$717
19 years$1,808$1,479$1,202$970$779$630
20 years$1,699$1,374$1,103$879$696$555
21 years$1,601$1,280$1,014$798$623$490
22 years$1,512$1,195$935$725$558$433
23 years$1,431$1,118$863$660$501$383
24 years$1,357$1,047$798$602$451$340
25 years$1,289$983$739$550$405$301
26 years$1,226$923$686$503$365$267
27 years$1,168$869$637$460$329$238
28 years$1,114$819$592$422$297$211
29 years$1,064$773$551$387$268$188
30 years$1,018$730$513$355$242$167
31 years$974$690$478$326$219$149
32 years$934$653$446$300$198$133
33 years$895$618$417$276$179$118
34 years$860$586$389$254$162$105
35 years$826$556$364$233$147$94
36 years$794$527$341$215$133$84
37 years$764$501$319$198$121$75
38 years$736$476$298$183$110$67
39 years$709$453$280$168$99$59
40 years$684$431$262$155$90$53
41 years$659$410$246$143$82$47
42 years$637$390$231$132$74$42
43 years$615$372$216$122$67$38
44 years$594$355$203$113$61$34
45 years$574$338$191$104$55$30
46 years$555$323$179$96$50$27
47 years$538$308$168$89$46$24
48 years$520$294$158$82$42$21
49 years$504$281$149$76$38$19
50 years$488$268$140$70$34$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $500,000, adding $3,245 every year, while hoping to spend $21,344 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: 55/15/30 Blend
61$500,000$500,000$500,000$500,000
62$554,347$527,847$520,097$580,057
63$588,181$531,002$514,811$601,336
64$624,750$533,596$508,632$622,045
65$664,311$535,579$501,508$644,181
66$707,147$536,898$493,384$667,888
67$753,567$537,497$484,203$693,329
68$803,911$537,315$473,904$720,680
69$858,556$536,289$462,426$750,141
70$917,912$534,351$449,701$781,930
71$982,434$531,429$435,661$816,289
72$1,052,620$527,447$420,233$853,487
73$1,129,020$522,324$403,344$893,820
74$1,212,237$515,975$384,913$937,616
75$1,302,936$508,309$364,858$985,238
76$1,401,849$499,229$343,094$1,037,088
77$1,509,779$488,633$319,530$1,093,611
78$1,627,615$476,414$294,072$1,155,296
79$1,756,330$462,457$266,622$1,222,687
80$1,897,000$446,642$237,078$1,296,385
81$2,050,806$428,839$205,332$1,377,051
82$2,219,050$408,914$171,272$1,465,421
83$2,403,165$386,723$134,782$1,562,302
84$2,604,730$362,114$95,739$1,668,591
85$2,825,482$334,928$54,016$1,785,276
86$3,067,336$304,994$9,481$1,913,449
87$3,332,399$272,133$0$2,054,317
88$3,622,992$236,156$0$2,221,390
89$3,941,673$196,864$0$2,407,993
90$4,291,257$154,043$0$2,612,759
91$4,674,846$107,472$0$2,837,533
92$5,095,856$56,914$0$3,084,349
93$5,558,051$2,120$0$3,355,447
94$6,065,576$0$0$3,653,299
95$6,622,997$0$0$3,990,065
96$7,235,345$0$0$4,360,449
97$7,908,163$0$0$4,767,460
98$8,647,554$0$0$5,214,796
99$9,460,244$0$0$5,706,533
100$10,353,645$0$0$6,247,163