Can I retire at age 62 with 560,000?

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 $560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$46,244$45,832$45,430$45,038$44,655$43,002
2 years$22,893$22,467$22,054$21,653$21,264$19,618
3 years$15,111$14,682$14,270$13,873$13,491$11,903
4 years$11,220$10,793$10,385$9,995$9,622$8,104
5 years$8,886$8,462$8,059$7,677$7,314$5,870
6 years$7,331$6,910$6,513$6,139$5,788$4,419
7 years$6,220$5,803$5,412$5,048$4,707$3,413
8 years$5,388$4,974$4,590$4,234$3,905$2,684
9 years$4,741$4,331$3,953$3,607$3,288$2,140
10 years$4,223$3,817$3,447$3,109$2,802$1,723
11 years$3,800$3,398$3,034$2,706$2,410$1,399
12 years$3,448$3,050$2,693$2,373$2,088$1,142
13 years$3,150$2,757$2,406$2,095$1,821$937
14 years$2,895$2,506$2,162$1,860$1,596$772
15 years$2,674$2,289$1,952$1,659$1,405$638
16 years$2,481$2,100$1,770$1,485$1,242$529
17 years$2,311$1,934$1,610$1,334$1,101$439
18 years$2,160$1,787$1,470$1,203$979$365
19 years$2,025$1,656$1,346$1,087$873$304
20 years$1,903$1,539$1,235$984$780$254
21 years$1,794$1,434$1,136$893$698$212
22 years$1,694$1,338$1,047$812$625$177
23 years$1,603$1,252$967$740$561$148
24 years$1,520$1,173$894$675$505$124
25 years$1,444$1,101$828$616$454$104
26 years$1,373$1,034$768$563$409$87
27 years$1,308$973$713$516$369$73
28 years$1,248$917$663$472$333$61
29 years$1,192$865$617$433$300$51
30 years$1,140$817$575$398$271$43
31 years$1,091$773$536$365$245$36
32 years$1,046$731$500$336$222$30
33 years$1,003$692$467$309$201$25
34 years$963$656$436$284$182$21
35 years$925$622$408$261$165$18
36 years$889$591$381$241$149$15
37 years$856$561$357$222$135$12
38 years$824$533$334$204$123$10
39 years$794$507$313$188$111$9
40 years$766$482$294$174$101$7
41 years$739$459$275$160$92$6
42 years$713$437$258$148$83$5
43 years$689$417$242$137$75$4
44 years$665$397$227$126$68$4
45 years$643$379$214$117$62$3
46 years$622$361$201$108$56$3
47 years$602$345$188$99$51$2
48 years$583$329$177$92$47$2
49 years$564$314$166$85$42$2
50 years$547$300$156$78$38$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $560,000, adding $3,760 every year, while hoping to spend $25,606 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: 45/29/26 Blend
61$560,000$560,000$560,000$560,000
62$620,998$591,318$582,638$644,132
63$657,096$593,048$574,912$662,625
64$696,017$594,005$566,069$679,899
65$738,022$594,123$556,044$698,133
66$783,399$593,334$544,771$717,429
67$832,463$591,564$532,177$737,902
68$885,560$588,737$518,191$759,681
69$943,070$584,768$502,733$782,909
70$1,005,413$579,571$485,724$807,744
71$1,073,048$573,053$467,079$834,365
72$1,146,482$565,116$446,710$862,969
73$1,226,273$555,656$424,524$893,775
74$1,313,031$544,561$400,424$927,028
75$1,407,431$531,716$374,309$963,000
76$1,510,216$516,997$346,075$1,001,991
77$1,622,200$500,272$315,610$1,044,339
78$1,744,281$481,402$282,800$1,090,413
79$1,877,448$460,241$247,525$1,140,629
80$2,022,789$436,634$209,658$1,195,443
81$2,181,500$410,416$169,068$1,255,366
82$2,354,900$381,413$125,619$1,320,960
83$2,544,440$349,443$79,167$1,392,851
84$2,751,718$314,310$29,564$1,471,733
85$2,978,491$275,809$0$1,558,373
86$3,226,697$233,724$0$1,660,106
87$3,498,469$187,825$0$1,780,565
88$3,796,156$137,871$0$1,912,630
89$4,122,342$83,606$0$2,057,506
90$4,479,878$24,759$0$2,216,522
91$4,871,899$0$0$2,391,147
92$5,301,862$0$0$2,595,433
93$5,773,571$0$0$2,828,290
94$6,291,219$0$0$3,083,895
95$6,859,421$0$0$3,364,535
96$7,483,266$0$0$3,672,732
97$8,168,354$0$0$4,011,264
98$8,920,858$0$0$4,383,188
99$9,747,576$0$0$4,791,877
100$10,655,998$0$0$5,241,042