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%17.7%
1 years$49,547$49,106$48,676$48,255$47,845$46,350
2 years$24,528$24,072$23,629$23,200$22,783$21,291
3 years$16,190$15,731$15,289$14,864$14,455$13,011
4 years$12,021$11,564$11,127$10,709$10,309$8,926
5 years$9,521$9,066$8,635$8,225$7,837$6,517
6 years$7,855$7,403$6,978$6,578$6,201$4,946
7 years$6,665$6,217$5,799$5,408$5,043$3,853
8 years$5,773$5,329$4,918$4,537$4,184$3,058
9 years$5,079$4,640$4,236$3,864$3,523$2,460
10 years$4,525$4,090$3,693$3,331$3,002$2,000
11 years$4,072$3,641$3,251$2,899$2,582$1,639
12 years$3,694$3,268$2,885$2,543$2,237$1,352
13 years$3,375$2,953$2,578$2,245$1,951$1,121
14 years$3,102$2,685$2,316$1,993$1,710$933
15 years$2,865$2,452$2,091$1,777$1,506$779
16 years$2,658$2,250$1,896$1,591$1,331$653
17 years$2,476$2,072$1,725$1,430$1,180$548
18 years$2,314$1,915$1,575$1,289$1,049$461
19 years$2,169$1,775$1,442$1,164$935$388
20 years$2,039$1,649$1,323$1,054$835$328
21 years$1,922$1,536$1,217$957$748$277
22 years$1,815$1,434$1,122$870$670$234
23 years$1,718$1,341$1,036$792$601$198
24 years$1,629$1,256$958$723$541$168
25 years$1,547$1,179$887$660$486$142
26 years$1,472$1,108$823$604$438$120
27 years$1,402$1,043$764$552$395$102
28 years$1,337$983$710$506$356$86
29 years$1,277$927$661$464$322$73
30 years$1,221$876$616$426$291$62
31 years$1,169$828$574$391$263$53
32 years$1,120$783$536$360$238$45
33 years$1,075$742$500$331$215$38
34 years$1,032$703$467$304$195$32
35 years$991$667$437$280$177$27
36 years$953$633$409$258$160$23
37 years$917$601$382$238$145$20
38 years$883$571$358$219$131$17
39 years$851$543$336$202$119$14
40 years$820$517$315$186$108$12
41 years$791$492$295$172$98$10
42 years$764$468$277$159$89$9
43 years$738$446$260$146$81$7
44 years$713$425$244$135$73$6
45 years$689$406$229$125$67$5
46 years$667$387$215$115$60$5
47 years$645$369$202$107$55$4
48 years$624$353$190$98$50$3
49 years$605$337$178$91$45$3
50 years$586$322$168$84$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $600,000, adding $6,414 every year, while hoping to spend $33,323 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: 76/10/14 Blend
61$600,000$600,000$600,000$600,000
62$667,816$636,016$626,716$716,131
63$700,478$631,725$612,256$744,608
64$735,354$626,108$596,194$771,002
65$772,636$619,063$578,442$799,019
66$812,532$610,484$558,907$828,810
67$855,272$600,260$537,492$860,541
68$901,108$588,270$514,096$894,396
69$950,314$574,388$488,611$930,577
70$1,003,193$558,481$460,927$969,308
71$1,060,079$540,406$430,929$1,010,836
72$1,121,336$520,015$398,494$1,055,432
73$1,187,365$497,148$363,495$1,103,399
74$1,258,606$471,638$325,802$1,155,067
75$1,335,542$443,307$285,275$1,210,804
76$1,418,705$411,967$241,770$1,271,013
77$1,508,680$377,420$195,136$1,336,143
78$1,606,108$339,456$145,215$1,406,686
79$1,711,695$297,854$91,844$1,483,186
80$1,826,218$252,378$34,851$1,566,244
81$1,950,530$202,782$0$1,656,523
82$2,085,569$148,805$0$1,758,635
83$2,232,370$90,168$0$1,875,317
84$2,392,067$26,582$0$2,002,277
85$2,565,912$0$0$2,140,530
86$2,755,279$0$0$2,295,845
87$2,961,682$0$0$2,468,341
88$3,186,787$0$0$2,656,489
89$3,432,428$0$0$2,861,824
90$3,700,623$0$0$3,086,036
91$3,993,593$0$0$3,330,986
92$4,313,785$0$0$3,598,721
93$4,663,891$0$0$3,891,495
94$5,046,876$0$0$4,211,793
95$5,466,005$0$0$4,562,347
96$5,924,872$0$0$4,946,167
97$6,427,435$0$0$5,366,569
98$6,978,053$0$0$5,827,202
99$7,581,528$0$0$6,332,087
100$8,243,146$0$0$6,885,651