Can I retire at age 62 with 518,000?

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 $518,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$42,776$42,395$42,023$41,660$41,306$40,773
2 years$21,176$20,782$20,400$20,029$19,670$19,133
3 years$13,977$13,581$13,200$12,833$12,479$11,956
4 years$10,378$9,984$9,606$9,245$8,900$8,395
5 years$8,220$7,827$7,455$7,101$6,766$6,279
6 years$6,781$6,392$6,025$5,679$5,354$4,887
7 years$5,754$5,368$5,006$4,669$4,354$3,907
8 years$4,984$4,601$4,246$3,917$3,612$3,184
9 years$4,385$4,006$3,657$3,336$3,042$2,634
10 years$3,907$3,531$3,188$2,876$2,592$2,203
11 years$3,515$3,144$2,807$2,503$2,229$1,859
12 years$3,189$2,821$2,491$2,195$1,932$1,580
13 years$2,914$2,550$2,226$1,938$1,684$1,351
14 years$2,678$2,318$2,000$1,720$1,477$1,160
15 years$2,474$2,117$1,805$1,534$1,300$1,001
16 years$2,295$1,943$1,637$1,374$1,149$866
17 years$2,138$1,789$1,490$1,234$1,019$752
18 years$1,998$1,653$1,360$1,112$906$654
19 years$1,873$1,532$1,245$1,005$807$570
20 years$1,761$1,424$1,142$910$721$498
21 years$1,659$1,326$1,051$826$645$435
22 years$1,567$1,238$968$751$578$381
23 years$1,483$1,158$894$684$519$334
24 years$1,406$1,085$827$624$467$294
25 years$1,335$1,018$766$570$420$258
26 years$1,270$957$710$521$378$227
27 years$1,210$900$660$477$341$200
28 years$1,155$848$613$437$308$176
29 years$1,103$800$571$401$278$155
30 years$1,054$756$532$368$251$136
31 years$1,009$715$496$338$227$120
32 years$967$676$462$310$205$106
33 years$928$640$432$285$186$94
34 years$891$607$403$263$168$83
35 years$856$576$377$242$152$73
36 years$823$546$353$223$138$64
37 years$792$519$330$205$125$57
38 years$762$493$309$189$113$50
39 years$735$469$290$174$103$44
40 years$708$446$272$161$93$39
41 years$683$425$255$148$85$35
42 years$659$404$239$137$77$31
43 years$637$385$224$126$70$27
44 years$615$367$210$117$63$24
45 years$595$350$198$108$57$21
46 years$575$334$186$100$52$19
47 years$557$319$174$92$47$16
48 years$539$304$164$85$43$15
49 years$522$291$154$79$39$13
50 years$506$278$145$73$35$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $518,000, adding $5,810 every year, while hoping to spend $26,479 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: 47/28/25 Blend
61$518,000$518,000$518,000$518,000
62$576,829$549,375$541,346$599,576
63$607,492$548,121$531,308$614,888
64$640,395$545,918$520,046$628,435
65$675,739$542,692$507,491$642,614
66$713,744$538,363$493,571$657,497
67$754,652$532,848$478,211$673,164
68$798,727$526,058$461,332$689,707
69$846,261$517,900$442,851$707,228
70$897,575$508,272$422,682$725,842
71$953,021$497,070$400,735$745,676
72$1,012,984$484,182$376,915$766,873
73$1,077,891$469,489$351,123$789,593
74$1,148,208$452,866$323,258$814,016
75$1,224,449$434,181$293,211$840,340
76$1,307,179$413,292$260,870$868,787
77$1,397,019$390,051$226,117$899,607
78$1,494,653$364,301$188,830$933,074
79$1,600,833$335,877$148,880$969,497
80$1,716,385$304,602$106,135$1,009,218
81$1,842,220$270,291$60,454$1,052,617
82$1,979,339$232,748$11,692$1,100,119
83$2,128,844$191,766$0$1,152,194
84$2,291,949$147,125$0$1,220,128
85$2,469,988$98,595$0$1,297,767
86$2,664,432$45,930$0$1,382,678
87$2,876,897$0$0$1,475,623
88$3,109,166$0$0$1,580,872
89$3,363,199$0$0$1,711,517
90$3,641,157$0$0$1,854,524
91$3,945,415$0$0$2,011,123
92$4,278,593$0$0$2,182,670
93$4,643,573$0$0$2,370,656
94$5,043,532$0$0$2,576,726
95$5,481,964$0$0$2,802,689
96$5,962,723$0$0$3,050,539
97$6,490,050$0$0$3,322,472
98$7,068,616$0$0$3,620,906
99$7,703,569$0$0$3,948,507
100$8,400,576$0$0$4,308,208