Can I retire at age 62 with 515,000?

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 $515,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$42,528$42,149$41,780$41,419$41,067$40,774
2 years$21,054$20,661$20,281$19,913$19,556$19,260
3 years$13,896$13,502$13,123$12,758$12,407$12,118
4 years$10,318$9,926$9,551$9,192$8,849$8,569
5 years$8,172$7,782$7,412$7,060$6,727$6,457
6 years$6,742$6,355$5,990$5,646$5,323$5,063
7 years$5,721$5,337$4,977$4,642$4,329$4,079
8 years$4,955$4,574$4,221$3,894$3,591$3,352
9 years$4,360$3,983$3,636$3,317$3,024$2,795
10 years$3,884$3,511$3,170$2,859$2,577$2,357
11 years$3,495$3,125$2,791$2,488$2,216$2,007
12 years$3,171$2,805$2,477$2,183$1,920$1,721
13 years$2,897$2,535$2,213$1,927$1,675$1,484
14 years$2,662$2,304$1,988$1,710$1,468$1,287
15 years$2,459$2,105$1,795$1,525$1,293$1,120
16 years$2,282$1,931$1,627$1,366$1,142$979
17 years$2,125$1,779$1,481$1,227$1,013$858
18 years$1,986$1,644$1,352$1,106$901$754
19 years$1,862$1,523$1,238$999$803$664
20 years$1,750$1,415$1,136$905$717$586
21 years$1,649$1,318$1,045$821$642$518
22 years$1,558$1,231$963$747$575$458
23 years$1,474$1,151$889$680$516$406
24 years$1,398$1,078$822$620$464$361
25 years$1,328$1,012$762$567$418$320
26 years$1,263$951$706$518$376$285
27 years$1,203$895$656$474$339$253
28 years$1,148$844$610$434$306$225
29 years$1,096$796$567$398$276$201
30 years$1,048$752$528$366$250$179
31 years$1,004$710$493$336$226$160
32 years$962$672$460$309$204$142
33 years$922$637$429$284$185$127
34 years$885$603$401$261$167$113
35 years$851$572$375$240$152$101
36 years$818$543$351$221$137$91
37 years$787$516$328$204$124$81
38 years$758$490$307$188$113$72
39 years$730$466$288$173$102$65
40 years$704$444$270$160$93$58
41 years$679$422$253$148$84$52
42 years$656$402$237$136$76$46
43 years$633$383$223$126$69$41
44 years$612$365$209$116$63$37
45 years$592$348$196$107$57$33
46 years$572$332$184$99$52$30
47 years$554$317$173$91$47$26
48 years$536$303$163$85$43$24
49 years$519$289$153$78$39$21
50 years$503$276$144$72$35$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $515,000, adding $3,729 every year, while hoping to spend $36,678 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: 83/9/8 Blend
61$515,000$515,000$515,000$515,000
62$571,376$544,081$536,099$617,954
63$590,632$531,716$515,033$636,590
64$610,622$517,516$492,032$651,745
65$631,383$501,352$466,993$667,254
66$652,953$483,088$439,807$683,132
67$675,375$462,580$410,361$699,393
68$698,692$439,675$378,537$716,054
69$722,952$414,212$344,211$733,134
70$748,206$386,021$307,255$750,651
71$774,508$354,922$267,533$768,628
72$801,918$320,722$224,905$787,090
73$830,498$283,223$179,224$806,063
74$860,318$242,209$130,337$825,578
75$891,449$197,456$78,082$845,666
76$923,973$148,728$22,294$866,364
77$957,974$95,771$0$887,714
78$993,546$38,323$0$912,938
79$1,030,788$0$0$941,146
80$1,069,811$0$0$972,871
81$1,110,730$0$0$1,010,120
82$1,153,676$0$0$1,049,217
83$1,198,785$0$0$1,090,288
84$1,246,210$0$0$1,133,471
85$1,296,115$0$0$1,178,916
86$1,348,678$0$0$1,226,785
87$1,404,093$0$0$1,277,257
88$1,462,573$0$0$1,330,526
89$1,524,349$0$0$1,386,802
90$1,589,673$0$0$1,446,316
91$1,658,820$0$0$1,509,319
92$1,732,090$0$0$1,576,087
93$1,809,812$0$0$1,646,918
94$1,892,345$0$0$1,722,141
95$1,980,080$0$0$1,802,116
96$2,073,449$0$0$1,887,233
97$2,172,920$0$0$1,977,923
98$2,279,009$0$0$2,074,657
99$2,392,278$0$0$2,177,950
100$2,513,347$0$0$2,288,366