Can I retire at age 62 with 507,000?

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 $507,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$41,868$41,495$41,131$40,776$40,429$39,940
2 years$20,727$20,341$19,966$19,604$19,252$18,760
3 years$13,680$13,293$12,920$12,560$12,214$11,735
4 years$10,158$9,772$9,402$9,049$8,711$8,247
5 years$8,045$7,661$7,296$6,950$6,622$6,176
6 years$6,637$6,256$5,897$5,558$5,240$4,811
7 years$5,632$5,254$4,900$4,570$4,261$3,851
8 years$4,878$4,503$4,156$3,834$3,535$3,142
9 years$4,292$3,921$3,579$3,265$2,977$2,602
10 years$3,824$3,456$3,121$2,815$2,537$2,179
11 years$3,441$3,077$2,747$2,450$2,182$1,841
12 years$3,122$2,762$2,438$2,149$1,891$1,567
13 years$2,852$2,496$2,178$1,897$1,649$1,341
14 years$2,621$2,268$1,957$1,684$1,445$1,154
15 years$2,421$2,072$1,767$1,502$1,272$996
16 years$2,246$1,901$1,602$1,345$1,125$863
17 years$2,092$1,751$1,458$1,208$997$750
18 years$1,955$1,618$1,331$1,089$887$654
19 years$1,833$1,500$1,218$984$790$571
20 years$1,723$1,393$1,118$891$706$499
21 years$1,624$1,298$1,028$809$632$437
22 years$1,534$1,212$948$735$566$384
23 years$1,451$1,133$875$670$508$337
24 years$1,376$1,062$809$611$457$296
25 years$1,307$996$750$558$411$261
26 years$1,243$936$695$510$370$230
27 years$1,185$881$646$467$334$202
28 years$1,130$830$600$428$301$178
29 years$1,079$783$559$392$272$157
30 years$1,032$740$520$360$246$139
31 years$988$699$485$331$222$123
32 years$947$662$453$304$201$108
33 years$908$627$423$279$182$96
34 years$872$594$395$257$165$85
35 years$837$563$369$237$149$75
36 years$805$535$345$218$135$66
37 years$775$508$323$201$122$59
38 years$746$483$303$185$111$52
39 years$719$459$284$171$101$46
40 years$693$437$266$157$91$41
41 years$669$416$249$145$83$36
42 years$645$396$234$134$75$32
43 years$623$377$219$124$68$28
44 years$602$360$206$114$62$25
45 years$582$343$193$105$56$22
46 years$563$327$182$97$51$19
47 years$545$312$171$90$46$17
48 years$528$298$160$83$42$15
49 years$511$285$151$77$38$14
50 years$495$272$142$71$35$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $507,000, adding $5,632 every year, while hoping to spend $38,498 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: 61/14/25 Blend
61$507,000$507,000$507,000$507,000
62$564,523$537,652$529,794$594,879
63$581,143$523,036$506,580$601,530
64$598,168$506,413$481,299$604,100
65$615,598$487,644$453,840$606,069
66$633,434$466,583$424,088$607,385
67$651,672$443,074$391,923$607,992
68$670,310$416,952$357,220$607,831
69$689,343$388,043$319,848$606,840
70$708,762$356,164$279,669$604,952
71$728,560$321,120$236,541$602,094
72$748,722$282,704$190,315$598,191
73$769,236$240,701$140,835$593,160
74$790,083$194,880$87,938$586,913
75$811,241$144,999$31,453$579,357
76$832,686$90,802$0$570,391
77$854,386$32,018$0$567,597
78$876,308$0$0$572,625
79$898,412$0$0$581,878
80$920,651$0$0$596,132
81$942,972$0$0$610,421
82$965,315$0$0$624,701
83$987,612$0$0$638,927
84$1,009,783$0$0$653,044
85$1,031,741$0$0$666,993
86$1,053,385$0$0$680,707
87$1,074,605$0$0$694,107
88$1,095,272$0$0$707,110
89$1,115,246$0$0$719,619
90$1,134,367$0$0$731,525
91$1,152,458$0$0$742,709
92$1,169,319$0$0$753,036
93$1,184,729$0$0$762,355
94$1,198,438$0$0$770,498
95$1,210,171$0$0$777,279
96$1,219,620$0$0$782,490
97$1,226,442$0$0$785,899
98$1,230,256$0$0$787,249
99$1,230,639$0$0$786,254
100$1,227,120$0$0$782,597