Can I retire at age 62 with 460,000?

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 $460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$37,986$37,648$37,318$36,996$36,681$35,823
2 years$18,805$18,455$18,115$17,786$17,467$16,608
3 years$12,412$12,060$11,722$11,396$11,082$10,248
4 years$9,216$8,866$8,531$8,210$7,904$7,102
5 years$7,299$6,951$6,620$6,306$6,008$5,240
6 years$6,022$5,676$5,350$5,043$4,754$4,021
7 years$5,110$4,767$4,446$4,146$3,866$3,168
8 years$4,426$4,086$3,770$3,478$3,208$2,544
9 years$3,894$3,557$3,247$2,963$2,701$2,071
10 years$3,469$3,136$2,831$2,554$2,302$1,705
11 years$3,122$2,792$2,493$2,223$1,979$1,415
12 years$2,832$2,506$2,212$1,949$1,715$1,183
13 years$2,588$2,264$1,976$1,721$1,496$994
14 years$2,378$2,058$1,776$1,528$1,311$839
15 years$2,197$1,880$1,603$1,363$1,154$711
16 years$2,038$1,725$1,454$1,220$1,020$604
17 years$1,898$1,589$1,323$1,096$905$515
18 years$1,774$1,468$1,207$988$804$439
19 years$1,663$1,361$1,105$893$717$376
20 years$1,563$1,264$1,014$808$640$322
21 years$1,473$1,178$933$734$573$276
22 years$1,391$1,099$860$667$514$237
23 years$1,317$1,028$794$608$461$204
24 years$1,249$963$734$554$414$175
25 years$1,186$904$680$506$373$151
26 years$1,128$850$631$463$336$130
27 years$1,075$800$586$424$303$112
28 years$1,025$753$545$388$273$96
29 years$979$711$507$356$247$83
30 years$936$671$472$327$223$72
31 years$896$635$440$300$202$62
32 years$859$600$411$276$182$53
33 years$824$569$383$253$165$46
34 years$791$539$358$233$149$40
35 years$760$511$335$215$135$34
36 years$731$485$313$198$123$30
37 years$703$461$293$182$111$26
38 years$677$438$275$168$101$22
39 years$652$416$257$155$91$19
40 years$629$396$241$143$83$17
41 years$607$377$226$132$75$14
42 years$586$359$212$122$68$12
43 years$566$342$199$112$62$11
44 years$547$326$187$104$56$9
45 years$528$311$175$96$51$8
46 years$511$297$165$88$46$7
47 years$495$283$155$82$42$6
48 years$479$270$145$75$38$5
49 years$464$258$137$70$35$4
50 years$449$247$129$64$32$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $460,000, adding $5,695 every year, while hoping to spend $22,703 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: 81/11/8 Blend
61$460,000$460,000$460,000$460,000
62$512,794$488,414$481,284$553,349
63$540,944$488,191$473,252$580,509
64$571,203$487,196$464,189$606,724
65$603,764$485,366$454,038$634,809
66$638,837$482,638$442,737$664,940
67$676,652$478,941$430,222$697,309
68$717,463$474,202$416,427$732,128
69$761,548$468,341$401,281$769,631
70$809,213$461,277$384,711$810,076
71$860,794$452,922$366,640$853,746
72$916,662$443,181$346,990$900,955
73$977,222$431,958$325,674$952,046
74$1,042,922$419,147$302,608$1,007,400
75$1,114,253$404,638$277,698$1,067,434
76$1,191,756$388,314$250,850$1,132,611
77$1,276,025$370,052$221,963$1,203,439
78$1,367,715$349,720$190,934$1,280,479
79$1,467,546$327,180$157,655$1,364,347
80$1,576,310$302,286$122,010$1,455,726
81$1,694,878$274,883$83,882$1,555,365
82$1,824,211$244,807$43,148$1,664,092
83$1,965,364$211,886$0$1,782,819
84$2,119,499$175,937$0$1,912,580
85$2,287,897$136,767$0$2,058,387
86$2,471,967$94,172$0$2,217,788
87$2,673,258$47,938$0$2,392,143
88$2,893,480$0$0$2,582,948
89$3,134,512$0$0$2,792,118
90$3,398,424$0$0$3,027,509
91$3,687,499$0$0$3,285,354
92$4,004,245$0$0$3,567,893
93$4,351,429$0$0$3,877,596
94$4,732,096$0$0$4,217,180
95$5,149,602$0$0$4,589,640
96$5,607,640$0$0$4,998,273
97$6,110,280$0$0$5,446,713
98$6,662,006$0$0$5,938,960
99$7,267,755$0$0$6,479,421
100$7,932,966$0$0$7,072,953