Can I retire at age 62 with 470,000?

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 $470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$38,812$38,466$38,129$37,800$37,478$36,587
2 years$19,214$18,856$18,509$18,173$17,847$16,954
3 years$12,682$12,323$11,977$11,644$11,323$10,457
4 years$9,417$9,058$8,716$8,389$8,076$7,242
5 years$7,458$7,102$6,764$6,443$6,139$5,341
6 years$6,153$5,799$5,466$5,153$4,857$4,096
7 years$5,221$4,870$4,543$4,236$3,950$3,225
8 years$4,522$4,175$3,852$3,554$3,277$2,588
9 years$3,979$3,635$3,318$3,027$2,760$2,106
10 years$3,545$3,204$2,893$2,609$2,352$1,733
11 years$3,190$2,852$2,547$2,271$2,022$1,438
12 years$2,894$2,560$2,260$1,992$1,753$1,201
13 years$2,644$2,314$2,019$1,759$1,528$1,008
14 years$2,430$2,103$1,814$1,561$1,340$851
15 years$2,244$1,921$1,638$1,392$1,180$720
16 years$2,082$1,763$1,485$1,247$1,043$611
17 years$1,939$1,623$1,351$1,120$924$520
18 years$1,813$1,500$1,234$1,009$822$444
19 years$1,699$1,390$1,129$912$733$379
20 years$1,597$1,292$1,037$826$654$325
21 years$1,505$1,203$953$750$586$278
22 years$1,422$1,123$879$682$525$239
23 years$1,346$1,050$811$621$471$205
24 years$1,276$984$750$566$423$176
25 years$1,212$924$695$517$381$152
26 years$1,153$868$645$473$343$130
27 years$1,098$817$599$433$309$112
28 years$1,048$770$556$396$279$97
29 years$1,001$726$518$364$252$83
30 years$957$686$482$334$228$72
31 years$916$648$450$306$206$62
32 years$878$613$420$282$186$53
33 years$842$581$392$259$169$46
34 years$808$551$366$238$153$40
35 years$776$522$342$219$138$34
36 years$746$496$320$202$125$30
37 years$718$471$300$186$114$26
38 years$692$447$281$172$103$22
39 years$666$425$263$158$93$19
40 years$643$405$246$146$85$16
41 years$620$385$231$135$77$14
42 years$598$367$217$124$70$12
43 years$578$350$203$115$63$11
44 years$558$333$191$106$57$9
45 years$540$318$179$98$52$8
46 years$522$303$168$90$47$7
47 years$505$289$158$83$43$6
48 years$489$276$149$77$39$5
49 years$474$264$140$71$35$4
50 years$459$252$131$66$32$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $470,000, adding $2,140 every year, while hoping to spend $34,413 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: 35/39/26 Blend
61$470,000$470,000$470,000$470,000
62$520,147$495,237$487,952$534,205
63$536,587$482,889$467,684$532,513
64$553,551$468,782$445,583$527,419
65$571,055$452,794$421,551$521,248
66$589,117$434,795$395,488$513,926
67$607,755$414,649$367,285$505,375
68$626,989$392,210$336,832$495,513
69$646,838$367,324$304,012$484,254
70$667,323$339,830$268,704$471,507
71$688,464$309,556$230,779$457,176
72$710,283$276,320$190,106$441,159
73$732,802$239,930$146,546$423,349
74$756,046$200,185$99,953$403,635
75$780,039$156,870$50,177$381,896
76$804,805$109,759$0$358,008
77$830,372$58,614$0$332,656
78$856,766$3,181$0$319,793
79$884,015$0$0$305,386
80$912,149$0$0$313,708
81$941,199$0$0$323,712
82$971,197$0$0$334,044
83$1,002,175$0$0$344,715
84$1,034,168$0$0$355,737
85$1,067,212$0$0$367,123
86$1,101,345$0$0$378,886
87$1,136,605$0$0$391,041
88$1,173,035$0$0$403,600
89$1,210,675$0$0$416,579
90$1,249,572$0$0$429,995
91$1,289,772$0$0$443,863
92$1,331,323$0$0$458,201
93$1,374,277$0$0$473,027
94$1,418,688$0$0$488,360
95$1,464,613$0$0$504,220
96$1,512,110$0$0$520,628
97$1,561,242$0$0$537,606
98$1,612,075$0$0$555,179
99$1,664,678$0$0$573,370
100$1,719,124$0$0$592,206