Can I retire at age 62 with 566,000?

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 $566,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$46,740$46,323$45,917$45,521$45,134$44,423
2 years$23,138$22,708$22,290$21,885$21,492$20,778
3 years$15,272$14,840$14,423$14,022$13,636$12,940
4 years$11,340$10,909$10,496$10,102$9,725$9,053
5 years$8,981$8,553$8,146$7,759$7,393$6,747
6 years$7,409$6,984$6,583$6,205$5,850$5,231
7 years$6,287$5,865$5,470$5,102$4,757$4,165
8 years$5,446$5,027$4,639$4,280$3,947$3,382
9 years$4,792$4,377$3,996$3,645$3,324$2,785
10 years$4,269$3,858$3,484$3,142$2,832$2,320
11 years$3,841$3,435$3,067$2,735$2,436$1,949
12 years$3,485$3,083$2,722$2,399$2,111$1,649
13 years$3,184$2,786$2,432$2,118$1,840$1,403
14 years$2,926$2,532$2,185$1,880$1,613$1,200
15 years$2,703$2,313$1,973$1,677$1,421$1,030
16 years$2,508$2,123$1,789$1,501$1,255$887
17 years$2,336$1,955$1,628$1,349$1,113$766
18 years$2,183$1,806$1,486$1,215$990$663
19 years$2,046$1,674$1,360$1,098$882$575
20 years$1,924$1,556$1,248$995$788$500
21 years$1,813$1,449$1,148$903$705$435
22 years$1,712$1,353$1,058$821$632$379
23 years$1,620$1,265$977$748$567$330
24 years$1,536$1,185$904$682$510$288
25 years$1,459$1,112$837$623$459$252
26 years$1,388$1,045$776$569$413$220
27 years$1,322$984$721$521$373$193
28 years$1,261$927$670$477$336$169
29 years$1,205$875$624$438$304$148
30 years$1,152$826$581$402$274$130
31 years$1,103$781$541$369$248$114
32 years$1,057$739$505$339$224$100
33 years$1,014$700$472$312$203$87
34 years$973$663$441$287$184$77
35 years$935$629$412$264$167$67
36 years$899$597$385$243$151$59
37 years$865$567$361$224$137$52
38 years$833$539$338$207$124$45
39 years$803$512$317$191$112$40
40 years$774$487$297$176$102$35
41 years$747$464$278$162$93$31
42 years$721$442$261$150$84$27
43 years$696$421$245$138$76$24
44 years$672$401$230$128$69$21
45 years$650$383$216$118$63$18
46 years$629$365$203$109$57$16
47 years$608$348$190$101$52$14
48 years$589$333$179$93$47$12
49 years$570$318$168$86$43$11
50 years$553$303$158$79$39$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $566,000, adding $5,329 every year, while hoping to spend $39,289 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: 33/48/19 Blend
61$566,000$566,000$566,000$566,000
62$629,229$599,231$590,458$646,146
63$651,607$586,790$568,435$646,701
64$674,951$572,423$544,358$643,312
65$699,318$555,993$518,115$638,834
66$724,769$537,357$489,593$633,194
67$751,371$516,363$458,670$626,317
68$779,195$492,850$425,220$618,122
69$808,320$466,647$389,112$608,527
70$838,830$437,573$350,208$597,445
71$870,815$405,439$308,365$584,784
72$904,376$370,043$263,432$570,450
73$939,618$331,172$215,254$554,344
74$976,660$288,600$163,666$536,363
75$1,015,628$242,090$108,497$516,400
76$1,056,661$191,391$49,570$494,343
77$1,099,907$136,236$0$470,079
78$1,145,533$76,346$0$446,185
79$1,193,715$11,425$0$430,740
80$1,244,649$0$0$413,595
81$1,298,547$0$0$425,741
82$1,355,642$0$0$445,040
83$1,416,186$0$0$465,547
84$1,480,458$0$0$487,362
85$1,548,759$0$0$510,593
86$1,621,422$0$0$535,360
87$1,698,810$0$0$561,793
88$1,781,319$0$0$590,034
89$1,869,384$0$0$620,241
90$1,963,484$0$0$652,584
91$2,064,139$0$0$687,252
92$2,171,922$0$0$724,452
93$2,287,463$0$0$764,410
94$2,411,450$0$0$807,374
95$2,544,640$0$0$853,619
96$2,687,863$0$0$903,442
97$2,842,030$0$0$957,175
98$3,008,142$0$0$1,015,178
99$3,187,298$0$0$1,077,849
100$3,380,707$0$0$1,145,625