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Home / Retirement savings / Starting at 52

Retirement Savings Starting at Age 52

Starting to save at 52 leaves 13 years until 65. Use this page to see what $500 a month could become over that time.

Deposits come to $78,000. Growth adds $44,093. The balance at 65 is $122,093.

years
years
$
$
%
Balance at retirement
$122,093
Total you put in
$78,000
Growth
$44,093
Years of saving
13
Year by year
YearTotal put inBalance
53$6,000$6,182
54$12,000$12,778
55$18,000$19,816
56$24,000$27,325
57$30,000$35,337
58$36,000$43,886
59$42,000$53,007
60$48,000$62,739
61$54,000$73,122
62$60,000$84,202
63$66,000$96,023
64$72,000$108,636
65$78,000$122,093
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How the balance is worked out

Each deposit earns interest from the month it arrives until the end. An early deposit grows for many months while a late one grows for few. The calculator adds up all 156 deposits of $500 at the monthly rate of 0.5417 percent to get the final balance.

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Worked example

From 52 to 65 is 13 years. Depositing $500 a month over that time and earning 6.5 percent produces $122,093.

Growth supplies 36 percent of the final amount. That is $44,093 that you did not have to deposit.

Questions about this calculator

What would an extra $100 a month add when saving $500 a month from age 52 to 65 at 6.5 percent?

The balance at 65 would be $146,512 instead of $122,093. The extra deposits total $15,600.

How much does waiting 5 years cost when saving $500 a month from age 52 to 65 at 6.5 percent?

Starting at 57 with the same $500 ends at $62,739 instead of $122,093. That is $59,354 less.

How much a month would it take to reach $1,000,000 by 65 from age 52 at 6.5 percent, compared with $500?

About $4,095 a month at 6.5 percent. That is $3,595 more than the $500 in the example.

What if you saved double, $1,000 a month, from age 52 to 65 at 6.5 percent?

The balance at 65 would be about $244,186 instead of $122,093. That is 2 times as much.

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This page is for education only and is not financial or tax advice.