Can I retire at age 62 with 573,000?

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 $573,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$47,318$46,896$46,485$46,084$45,692$43,931
2 years$23,425$22,988$22,566$22,156$21,758$20,005
3 years$15,461$15,023$14,601$14,195$13,804$12,114
4 years$11,480$11,044$10,626$10,227$9,845$8,231
5 years$9,093$8,658$8,246$7,855$7,484$5,950
6 years$7,501$7,070$6,664$6,282$5,922$4,469
7 years$6,365$5,938$5,538$5,165$4,816$3,444
8 years$5,513$5,090$4,697$4,333$3,995$2,702
9 years$4,851$4,431$4,045$3,690$3,365$2,149
10 years$4,321$3,906$3,527$3,181$2,867$1,726
11 years$3,888$3,477$3,105$2,769$2,466$1,397
12 years$3,528$3,121$2,755$2,428$2,137$1,138
13 years$3,223$2,821$2,462$2,144$1,863$931
14 years$2,962$2,564$2,212$1,903$1,633$765
15 years$2,736$2,342$1,997$1,697$1,438$631
16 years$2,539$2,149$1,811$1,520$1,271$521
17 years$2,364$1,979$1,648$1,365$1,127$431
18 years$2,210$1,829$1,504$1,231$1,002$358
19 years$2,072$1,695$1,377$1,112$893$297
20 years$1,947$1,575$1,264$1,007$798$247
21 years$1,835$1,467$1,162$914$714$206
22 years$1,733$1,369$1,071$831$640$171
23 years$1,640$1,281$989$757$574$143
24 years$1,555$1,200$915$690$516$119
25 years$1,477$1,126$847$630$465$99
26 years$1,405$1,058$786$576$418$83
27 years$1,339$996$730$528$377$69
28 years$1,277$939$678$483$340$58
29 years$1,220$885$631$443$307$48
30 years$1,166$836$588$407$278$40
31 years$1,117$790$548$374$251$34
32 years$1,070$748$511$343$227$28
33 years$1,026$708$478$316$206$24
34 years$985$671$446$291$186$20
35 years$946$637$417$267$169$16
36 years$910$604$390$246$153$14
37 years$876$574$365$227$138$11
38 years$843$545$342$209$126$10
39 years$813$519$320$193$114$8
40 years$783$494$300$178$103$7
41 years$756$470$282$164$94$6
42 years$730$447$264$151$85$5
43 years$705$426$248$140$77$4
44 years$681$406$233$129$70$3
45 years$658$387$219$119$64$3
46 years$637$370$205$110$58$2
47 years$616$353$193$102$52$2
48 years$596$337$181$94$48$2
49 years$577$322$170$87$43$1
50 years$559$307$160$80$39$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $573,000, adding $2,856 every year, while hoping to spend $33,407 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: 66/27/7 Blend
61$573,000$573,000$573,000$573,000
62$634,392$604,023$595,141$675,295
63$663,555$598,075$579,534$696,883
64$694,573$590,717$562,284$716,203
65$727,600$581,842$543,301$736,434
66$762,805$571,342$522,491$757,658
67$800,372$559,098$499,755$779,970
68$840,502$544,987$474,990$803,475
69$883,419$528,877$448,087$828,288
70$929,365$510,628$418,935$854,540
71$978,605$490,095$387,415$882,373
72$1,031,434$467,120$353,404$911,947
73$1,088,171$441,540$316,773$943,440
74$1,149,168$413,179$277,389$977,050
75$1,214,812$381,853$235,110$1,012,993
76$1,285,527$347,369$189,791$1,051,515
77$1,361,780$309,518$141,278$1,092,884
78$1,444,081$268,085$89,411$1,137,399
79$1,532,995$222,839$34,023$1,185,393
80$1,629,139$173,536$0$1,237,235
81$1,733,192$119,921$0$1,295,206
82$1,845,902$61,721$0$1,360,719
83$1,968,091$0$0$1,431,747
84$2,100,660$0$0$1,509,262
85$2,244,604$0$0$1,613,370
86$2,401,015$0$0$1,726,527
87$2,571,096$0$0$1,849,606
88$2,756,167$0$0$1,983,570
89$2,957,685$0$0$2,129,475
90$3,177,249$0$0$2,288,485
91$3,416,622$0$0$2,461,880
92$3,677,744$0$0$2,651,071
93$3,962,747$0$0$2,857,609
94$4,273,982$0$0$3,083,202
95$4,614,034$0$0$3,329,731
96$4,985,750$0$0$3,599,264
97$5,392,267$0$0$3,894,082
98$5,837,033$0$0$4,216,693
99$6,323,851$0$0$4,569,861
100$6,856,905$0$0$4,956,629