Can I retire at age 62 with 506,000?

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 $506,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$41,785$41,413$41,050$40,695$40,349$39,961
2 years$20,686$20,300$19,927$19,565$19,214$18,823
3 years$13,653$13,267$12,894$12,535$12,190$11,808
4 years$10,138$9,752$9,384$9,031$8,694$8,325
5 years$8,029$7,646$7,282$6,937$6,609$6,253
6 years$6,624$6,243$5,885$5,547$5,230$4,887
7 years$5,621$5,243$4,890$4,561$4,253$3,924
8 years$4,868$4,494$4,147$3,826$3,528$3,214
9 years$4,284$3,913$3,572$3,259$2,971$2,670
10 years$3,816$3,449$3,114$2,809$2,532$2,244
11 years$3,434$3,071$2,742$2,445$2,177$1,903
12 years$3,115$2,756$2,433$2,144$1,887$1,626
13 years$2,846$2,491$2,174$1,893$1,645$1,397
14 years$2,616$2,264$1,953$1,681$1,442$1,207
15 years$2,416$2,068$1,764$1,499$1,270$1,046
16 years$2,242$1,898$1,599$1,342$1,122$910
17 years$2,088$1,748$1,455$1,206$995$795
18 years$1,951$1,615$1,328$1,087$885$695
19 years$1,829$1,497$1,216$982$789$610
20 years$1,720$1,391$1,116$889$704$536
21 years$1,621$1,295$1,026$807$630$471
22 years$1,531$1,209$946$734$565$415
23 years$1,449$1,131$873$668$507$366
24 years$1,374$1,060$808$610$456$324
25 years$1,305$994$748$557$410$286
26 years$1,241$935$694$509$370$253
27 years$1,182$880$644$466$333$224
28 years$1,128$829$599$427$301$199
29 years$1,077$782$557$391$271$176
30 years$1,030$738$519$359$245$156
31 years$986$698$484$330$222$139
32 years$945$660$452$303$201$123
33 years$906$625$422$279$182$109
34 years$870$593$394$257$164$97
35 years$836$562$368$236$149$86
36 years$804$534$345$218$135$77
37 years$773$507$323$200$122$68
38 years$745$482$302$185$111$61
39 years$717$458$283$170$101$54
40 years$692$436$265$157$91$48
41 years$667$415$249$145$83$43
42 years$644$395$233$134$75$38
43 years$622$376$219$123$68$34
44 years$601$359$205$114$62$30
45 years$581$342$193$105$56$27
46 years$562$326$181$97$51$24
47 years$544$312$170$90$46$21
48 years$527$297$160$83$42$19
49 years$510$284$150$77$38$17
50 years$494$271$141$71$35$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $506,000, adding $2,680 every year, while hoping to spend $36,840 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: 72/22/6 Blend
61$506,000$506,000$506,000$506,000
62$560,376$533,558$525,715$600,121
63$578,337$520,505$504,129$613,639
64$596,896$505,578$480,586$623,566
65$616,073$488,645$454,979$633,396
66$635,893$469,569$427,202$643,111
67$656,379$448,204$397,138$652,687
68$677,558$424,393$364,670$662,103
69$699,454$397,974$329,672$671,334
70$722,097$368,773$292,015$680,354
71$745,515$336,608$251,561$689,135
72$769,740$301,283$208,171$697,649
73$794,803$262,596$161,694$705,866
74$820,739$220,329$111,977$713,752
75$847,583$174,254$58,857$721,275
76$875,375$124,131$2,167$728,397
77$904,153$69,703$0$735,082
78$933,961$10,703$0$745,023
79$964,842$0$0$754,837
80$996,846$0$0$777,220
81$1,030,022$0$0$803,111
82$1,064,424$0$0$829,961
83$1,100,110$0$0$857,816
84$1,137,139$0$0$886,722
85$1,175,578$0$0$916,732
86$1,215,494$0$0$947,898
87$1,256,962$0$0$980,280
88$1,300,060$0$0$1,013,939
89$1,344,874$0$0$1,048,942
90$1,391,493$0$0$1,085,360
91$1,440,014$0$0$1,123,270
92$1,490,543$0$0$1,162,754
93$1,543,190$0$0$1,203,899
94$1,598,076$0$0$1,246,801
95$1,655,332$0$0$1,291,563
96$1,715,096$0$0$1,338,295
97$1,777,521$0$0$1,387,115
98$1,842,768$0$0$1,438,153
99$1,911,015$0$0$1,491,547
100$1,982,452$0$0$1,547,449