Can I retire at age 62 with 600,000?

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 $600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$49,547$49,106$48,676$48,255$47,845$47,464
2 years$24,528$24,072$23,629$23,200$22,783$22,399
3 years$16,190$15,731$15,289$14,864$14,455$14,079
4 years$12,021$11,564$11,127$10,709$10,309$9,946
5 years$9,521$9,066$8,635$8,225$7,837$7,486
6 years$7,855$7,403$6,978$6,578$6,201$5,864
7 years$6,665$6,217$5,799$5,408$5,043$4,719
8 years$5,773$5,329$4,918$4,537$4,184$3,873
9 years$5,079$4,640$4,236$3,864$3,523$3,226
10 years$4,525$4,090$3,693$3,331$3,002$2,718
11 years$4,072$3,641$3,251$2,899$2,582$2,311
12 years$3,694$3,268$2,885$2,543$2,237$1,979
13 years$3,375$2,953$2,578$2,245$1,951$1,705
14 years$3,102$2,685$2,316$1,993$1,710$1,476
15 years$2,865$2,452$2,091$1,777$1,506$1,283
16 years$2,658$2,250$1,896$1,591$1,331$1,120
17 years$2,476$2,072$1,725$1,430$1,180$980
18 years$2,314$1,915$1,575$1,289$1,049$860
19 years$2,169$1,775$1,442$1,164$935$756
20 years$2,039$1,649$1,323$1,054$835$666
21 years$1,922$1,536$1,217$957$748$588
22 years$1,815$1,434$1,122$870$670$520
23 years$1,718$1,341$1,036$792$601$460
24 years$1,629$1,256$958$723$541$408
25 years$1,547$1,179$887$660$486$361
26 years$1,472$1,108$823$604$438$321
27 years$1,402$1,043$764$552$395$285
28 years$1,337$983$710$506$356$253
29 years$1,277$927$661$464$322$225
30 years$1,221$876$616$426$291$201
31 years$1,169$828$574$391$263$179
32 years$1,120$783$536$360$238$159
33 years$1,075$742$500$331$215$142
34 years$1,032$703$467$304$195$126
35 years$991$667$437$280$177$113
36 years$953$633$409$258$160$100
37 years$917$601$382$238$145$90
38 years$883$571$358$219$131$80
39 years$851$543$336$202$119$71
40 years$820$517$315$186$108$64
41 years$791$492$295$172$98$57
42 years$764$468$277$159$89$51
43 years$738$446$260$146$81$45
44 years$713$425$244$135$73$40
45 years$689$406$229$125$67$36
46 years$667$387$215$115$60$32
47 years$645$369$202$107$55$29
48 years$624$353$190$98$50$26
49 years$605$337$178$91$45$23
50 years$586$322$168$84$41$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $600,000, adding $6,057 every year, while hoping to spend $34,287 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: 63/10/27 Blend
61$600,000$600,000$600,000$600,000
62$667,448$635,648$626,348$704,352
63$699,046$630,313$610,849$724,747
64$732,719$623,569$593,683$742,717
65$768,641$615,308$574,755$761,600
66$807,004$605,420$553,971$781,493
67$848,018$593,786$531,230$802,500
68$891,916$580,281$506,426$824,740
69$938,949$564,772$479,448$848,343
70$989,395$547,119$450,183$873,457
71$1,043,559$527,174$418,510$900,242
72$1,101,775$504,778$384,303$928,879
73$1,164,410$479,766$347,431$959,570
74$1,231,867$451,961$307,757$992,537
75$1,304,587$421,178$265,137$1,028,029
76$1,383,058$387,219$219,422$1,066,320
77$1,467,814$349,876$170,456$1,107,715
78$1,559,440$308,929$118,076$1,152,555
79$1,658,582$264,146$62,111$1,201,214
80$1,765,950$215,281$2,384$1,254,110
81$1,882,321$162,075$0$1,311,705
82$2,008,555$104,253$0$1,392,188
83$2,145,593$41,527$0$1,480,331
84$2,294,472$0$0$1,576,136
85$2,456,332$0$0$1,683,266
86$2,632,429$0$0$1,804,828
87$2,824,142$0$0$1,937,210
88$3,032,991$0$0$2,081,466
89$3,260,647$0$0$2,238,755
90$3,508,951$0$0$2,410,356
91$3,779,927$0$0$2,597,672
92$4,075,803$0$0$2,802,250
93$4,399,034$0$0$3,025,792
94$4,752,321$0$0$3,270,175
95$5,138,638$0$0$3,537,460
96$5,561,259$0$0$3,829,921
97$6,023,789$0$0$4,150,060
98$6,530,199$0$0$4,500,631
99$7,084,860$0$0$4,884,670
100$7,692,587$0$0$5,305,517