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%13.3%
1 years$38,812$38,466$38,129$37,800$37,478$36,964
2 years$19,214$18,856$18,509$18,173$17,847$17,330
3 years$12,682$12,323$11,977$11,644$11,323$10,819
4 years$9,417$9,058$8,716$8,389$8,076$7,588
5 years$7,458$7,102$6,764$6,443$6,139$5,670
6 years$6,153$5,799$5,466$5,153$4,857$4,408
7 years$5,221$4,870$4,543$4,236$3,950$3,520
8 years$4,522$4,175$3,852$3,554$3,277$2,866
9 years$3,979$3,635$3,318$3,027$2,760$2,367
10 years$3,545$3,204$2,893$2,609$2,352$1,978
11 years$3,190$2,852$2,547$2,271$2,022$1,667
12 years$2,894$2,560$2,260$1,992$1,753$1,415
13 years$2,644$2,314$2,019$1,759$1,528$1,208
14 years$2,430$2,103$1,814$1,561$1,340$1,036
15 years$2,244$1,921$1,638$1,392$1,180$893
16 years$2,082$1,763$1,485$1,247$1,043$771
17 years$1,939$1,623$1,351$1,120$924$668
18 years$1,813$1,500$1,234$1,009$822$581
19 years$1,699$1,390$1,129$912$733$506
20 years$1,597$1,292$1,037$826$654$441
21 years$1,505$1,203$953$750$586$385
22 years$1,422$1,123$879$682$525$337
23 years$1,346$1,050$811$621$471$295
24 years$1,276$984$750$566$423$258
25 years$1,212$924$695$517$381$227
26 years$1,153$868$645$473$343$199
27 years$1,098$817$599$433$309$175
28 years$1,048$770$556$396$279$154
29 years$1,001$726$518$364$252$135
30 years$957$686$482$334$228$119
31 years$916$648$450$306$206$105
32 years$878$613$420$282$186$92
33 years$842$581$392$259$169$81
34 years$808$551$366$238$153$71
35 years$776$522$342$219$138$63
36 years$746$496$320$202$125$55
37 years$718$471$300$186$114$49
38 years$692$447$281$172$103$43
39 years$666$425$263$158$93$38
40 years$643$405$246$146$85$34
41 years$620$385$231$135$77$30
42 years$598$367$217$124$70$26
43 years$578$350$203$115$63$23
44 years$558$333$191$106$57$20
45 years$540$318$179$98$52$18
46 years$522$303$168$90$47$16
47 years$505$289$158$83$43$14
48 years$489$276$149$77$39$12
49 years$474$264$140$71$35$11
50 years$459$252$131$66$32$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $470,000, adding $4,073 every year, while hoping to spend $22,389 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: 61/20/19 Blend
61$470,000$470,000$470,000$470,000
62$522,141$497,231$489,946$551,192
63$551,578$497,774$482,538$571,836
64$583,267$497,593$474,131$591,507
65$617,414$496,629$464,668$612,462
66$654,246$494,819$454,090$634,827
67$694,011$492,097$442,334$658,742
68$736,982$488,392$429,334$684,365
69$783,460$483,630$415,023$711,868
70$833,776$477,730$399,329$741,443
71$888,291$470,608$382,176$773,300
72$947,405$462,177$363,487$807,674
73$1,011,556$452,339$343,181$844,824
74$1,081,228$440,997$321,170$885,037
75$1,156,951$428,044$297,367$928,631
76$1,239,309$413,367$271,678$975,955
77$1,328,944$396,847$244,005$1,027,398
78$1,426,564$378,360$214,246$1,083,389
79$1,532,946$357,773$182,296$1,144,401
80$1,648,947$334,944$148,043$1,210,960
81$1,775,508$309,725$111,371$1,283,645
82$1,913,667$281,959$72,160$1,363,096
83$2,064,566$251,479$30,282$1,450,021
84$2,229,461$218,111$0$1,545,203
85$2,409,736$181,669$0$1,652,427
86$2,606,915$141,956$0$1,776,467
87$2,822,675$98,766$0$1,912,263
88$3,058,862$51,880$0$2,061,010
89$3,317,511$1,067$0$2,224,027
90$3,600,862$0$0$2,402,767
91$3,911,381$0$0$2,610,701
92$4,251,784$0$0$2,838,941
93$4,625,065$0$0$3,089,262
94$5,034,517$0$0$3,363,881
95$5,483,770$0$0$3,665,235
96$5,976,823$0$0$3,996,011
97$6,518,080$0$0$4,359,170
98$7,112,390$0$0$4,757,971
99$7,765,098$0$0$5,196,007
100$8,482,091$0$0$5,677,232