Can I retire at age 62 with 554,000?

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 $554,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$45,749$45,341$44,944$44,556$44,177$43,661
2 years$22,648$22,226$21,817$21,421$21,037$20,517
3 years$14,949$14,525$14,117$13,725$13,346$12,840
4 years$11,100$10,677$10,274$9,888$9,519$9,029
5 years$8,791$8,371$7,973$7,595$7,236$6,764
6 years$7,252$6,836$6,443$6,074$5,726$5,273
7 years$6,154$5,741$5,354$4,993$4,656$4,222
8 years$5,330$4,921$4,541$4,189$3,863$3,448
9 years$4,690$4,284$3,911$3,568$3,253$2,856
10 years$4,178$3,777$3,410$3,076$2,772$2,393
11 years$3,760$3,362$3,002$2,677$2,384$2,024
12 years$3,411$3,018$2,664$2,348$2,066$1,723
13 years$3,116$2,727$2,380$2,073$1,801$1,476
14 years$2,864$2,479$2,139$1,840$1,579$1,270
15 years$2,645$2,264$1,931$1,641$1,390$1,098
16 years$2,454$2,078$1,751$1,469$1,229$952
17 years$2,286$1,913$1,593$1,320$1,090$828
18 years$2,137$1,768$1,454$1,190$969$722
19 years$2,003$1,639$1,331$1,075$864$631
20 years$1,883$1,523$1,222$974$771$552
21 years$1,774$1,418$1,124$884$690$484
22 years$1,676$1,324$1,036$803$619$425
23 years$1,586$1,238$956$732$555$373
24 years$1,504$1,160$884$667$499$329
25 years$1,428$1,089$819$609$449$289
26 years$1,359$1,023$760$557$405$255
27 years$1,294$963$705$510$365$225
28 years$1,235$907$656$467$329$199
29 years$1,179$856$610$429$297$175
30 years$1,128$808$568$393$269$155
31 years$1,080$764$530$361$243$137
32 years$1,034$723$494$332$220$121
33 years$992$685$462$305$199$107
34 years$952$649$431$281$180$95
35 years$915$616$403$259$163$84
36 years$880$584$377$238$148$74
37 years$847$555$353$219$134$66
38 years$815$527$331$202$121$58
39 years$786$502$310$186$110$51
40 years$757$477$290$172$100$46
41 years$731$454$272$159$91$40
42 years$705$433$255$146$82$36
43 years$681$412$240$135$75$32
44 years$658$393$225$125$68$28
45 years$636$375$211$115$61$25
46 years$615$357$198$106$56$22
47 years$596$341$186$98$51$20
48 years$577$326$175$91$46$17
49 years$558$311$165$84$42$15
50 years$541$297$155$78$38$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $554,000, adding $5,441 every year, while hoping to spend $30,162 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: 27/50/23 Blend
61$554,000$554,000$554,000$554,000
62$616,120$586,758$578,171$628,174
63$646,873$583,417$565,448$634,800
64$679,750$578,902$551,287$638,909
65$714,939$573,122$535,610$642,683
66$752,642$565,984$518,331$646,114
67$793,080$557,386$499,365$649,194
68$836,499$547,223$478,618$651,919
69$883,166$535,381$455,996$654,287
70$933,376$521,741$431,399$656,298
71$987,451$506,177$404,721$657,958
72$1,045,746$488,555$375,854$659,275
73$1,108,651$468,733$344,684$660,266
74$1,176,593$446,561$311,091$660,949
75$1,250,044$421,881$274,951$661,353
76$1,329,520$394,524$236,133$661,513
77$1,415,590$364,315$194,502$661,472
78$1,508,878$331,064$149,916$661,284
79$1,610,072$294,575$102,227$661,014
80$1,719,927$254,637$51,279$660,742
81$1,839,275$211,029$0$660,559
82$1,969,029$163,518$0$661,335
83$2,110,197$111,857$0$675,917
84$2,263,883$55,784$0$691,901
85$2,431,307$0$0$709,503
86$2,613,808$0$0$731,707
87$2,812,861$0$0$789,484
88$3,030,089$0$0$852,623
89$3,267,280$0$0$921,655
90$3,526,400$0$0$997,163
91$3,809,615$0$0$1,079,790
92$4,119,308$0$0$1,170,244
93$4,458,106$0$0$1,269,304
94$4,828,897$0$0$1,377,829
95$5,234,865$0$0$1,496,763
96$5,679,515$0$0$1,627,149
97$6,166,706$0$0$1,770,131
98$6,700,688$0$0$1,926,974
99$7,286,144$0$0$2,099,068
100$7,928,229$0$0$2,287,945