Can I retire at age 62 with 456,000?

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 $456,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$37,656$37,321$36,993$36,674$36,362$35,893
2 years$18,642$18,294$17,958$17,632$17,315$16,843
3 years$12,304$11,956$11,620$11,297$10,986$10,525
4 years$9,136$8,789$8,456$8,139$7,835$7,390
5 years$7,236$6,890$6,562$6,251$5,956$5,528
6 years$5,969$5,627$5,303$4,999$4,713$4,302
7 years$5,065$4,725$4,407$4,110$3,833$3,439
8 years$4,387$4,050$3,738$3,448$3,180$2,803
9 years$3,860$3,527$3,219$2,937$2,678$2,318
10 years$3,439$3,108$2,807$2,532$2,282$1,939
11 years$3,094$2,767$2,471$2,203$1,962$1,636
12 years$2,808$2,484$2,193$1,933$1,700$1,391
13 years$2,565$2,245$1,959$1,706$1,483$1,189
14 years$2,357$2,040$1,760$1,515$1,300$1,021
15 years$2,177$1,864$1,589$1,351$1,144$881
16 years$2,020$1,710$1,441$1,209$1,011$762
17 years$1,882$1,575$1,311$1,087$897$662
18 years$1,759$1,455$1,197$979$797$576
19 years$1,649$1,349$1,096$885$711$502
20 years$1,550$1,253$1,006$801$635$438
21 years$1,460$1,167$925$727$568$383
22 years$1,379$1,090$853$661$509$336
23 years$1,305$1,019$787$602$457$294
24 years$1,238$955$728$549$411$258
25 years$1,176$896$674$502$370$227
26 years$1,118$842$625$459$333$200
27 years$1,065$793$581$420$300$176
28 years$1,016$747$540$385$271$155
29 years$971$705$502$353$245$136
30 years$928$665$468$324$221$120
31 years$889$629$436$297$200$106
32 years$851$595$407$273$181$93
33 years$817$564$380$251$164$82
34 years$784$534$355$231$148$73
35 years$753$507$332$213$134$64
36 years$724$481$311$196$122$57
37 years$697$457$291$181$110$50
38 years$671$434$272$166$100$44
39 years$647$413$255$153$91$39
40 years$623$393$239$142$82$34
41 years$601$374$224$131$75$30
42 years$581$356$210$121$68$27
43 years$561$339$197$111$61$24
44 years$542$323$185$103$56$21
45 years$524$308$174$95$51$19
46 years$507$294$163$88$46$16
47 years$490$281$153$81$42$14
48 years$475$268$144$75$38$13
49 years$460$256$136$69$34$11
50 years$445$244$127$64$31$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $456,000, adding $6,572 every year, while hoping to spend $35,443 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: 78/14/8 Blend
61$456,000$456,000$456,000$456,000
62$509,291$485,123$478,055$547,933
63$523,528$471,183$456,359$560,293
64$538,028$455,372$432,748$568,589
65$552,783$437,561$407,121$576,646
66$567,779$417,613$379,371$584,425
67$583,000$395,384$349,388$591,881
68$598,430$370,721$317,056$598,968
69$614,045$343,463$282,253$605,634
70$629,823$313,438$244,854$611,822
71$645,735$280,466$204,726$617,470
72$661,746$244,355$161,731$622,511
73$677,821$204,905$115,726$626,870
74$693,916$161,902$66,559$630,468
75$709,981$115,121$14,075$633,217
76$725,961$64,325$0$635,019
77$741,794$9,261$0$639,350
78$757,408$0$0$644,031
79$772,722$0$0$655,502
80$787,648$0$0$668,058
81$802,084$0$0$680,184
82$815,916$0$0$691,781
83$829,017$0$0$702,742
84$841,246$0$0$712,944
85$852,444$0$0$722,249
86$862,434$0$0$730,506
87$871,019$0$0$737,545
88$877,979$0$0$743,176
89$883,069$0$0$747,189
90$886,018$0$0$749,350
91$886,524$0$0$749,399
92$884,250$0$0$747,047
93$878,824$0$0$741,973
94$869,833$0$0$733,822
95$856,817$0$0$722,198
96$839,270$0$0$706,664
97$816,626$0$0$686,737
98$788,264$0$0$661,879
99$753,491$0$0$631,495
100$711,543$0$0$594,929