Can I retire at age 62 with 471,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $471,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$38,895$38,548$38,210$37,880$37,558$37,104
2 years$19,255$18,896$18,549$18,212$17,885$17,428
3 years$12,709$12,349$12,002$11,668$11,347$10,901
4 years$9,437$9,078$8,735$8,406$8,093$7,662
5 years$7,474$7,117$6,778$6,457$6,152$5,737
6 years$6,166$5,812$5,478$5,164$4,868$4,469
7 years$5,232$4,881$4,552$4,245$3,959$3,577
8 years$4,532$4,184$3,861$3,561$3,284$2,919
9 years$3,987$3,643$3,325$3,033$2,766$2,417
10 years$3,552$3,211$2,899$2,615$2,357$2,024
11 years$3,196$2,858$2,552$2,276$2,027$1,710
12 years$2,900$2,565$2,265$1,996$1,756$1,455
13 years$2,649$2,318$2,024$1,762$1,532$1,246
14 years$2,435$2,107$1,818$1,564$1,343$1,072
15 years$2,249$1,925$1,642$1,395$1,182$925
16 years$2,087$1,766$1,488$1,249$1,045$802
17 years$1,944$1,627$1,354$1,122$926$697
18 years$1,816$1,503$1,236$1,011$824$607
19 years$1,703$1,393$1,132$914$734$530
20 years$1,601$1,295$1,039$828$656$464
21 years$1,509$1,206$955$751$587$406
22 years$1,425$1,126$881$683$526$356
23 years$1,348$1,053$813$622$472$313
24 years$1,279$986$752$567$424$275
25 years$1,214$926$696$518$382$242
26 years$1,155$870$646$474$344$213
27 years$1,100$819$600$434$310$188
28 years$1,050$771$558$397$280$166
29 years$1,003$728$519$364$253$146
30 years$959$687$483$334$228$129
31 years$918$650$451$307$206$114
32 years$879$615$420$282$187$101
33 years$843$582$393$260$169$89
34 years$810$552$367$239$153$79
35 years$778$523$343$220$139$70
36 years$748$497$321$202$126$61
37 years$720$472$300$187$114$54
38 years$693$448$281$172$103$48
39 years$668$426$263$159$94$43
40 years$644$406$247$146$85$38
41 years$621$386$232$135$77$33
42 years$600$368$217$125$70$29
43 years$579$350$204$115$63$26
44 years$560$334$191$106$58$23
45 years$541$319$180$98$52$20
46 years$523$304$169$91$47$18
47 years$506$290$158$84$43$16
48 years$490$277$149$77$39$14
49 years$475$264$140$71$36$13
50 years$460$252$132$66$32$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $471,000, adding $3,160 every year, while hoping to spend $27,888 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: 64/19/17 Blend
61$471,000$471,000$471,000$471,000
62$522,302$497,339$490,038$553,329
63$545,904$492,036$476,782$569,233
64$570,979$485,538$462,147$583,126
65$597,647$477,758$446,057$597,635
66$626,041$468,602$428,434$612,820
67$656,305$457,972$409,195$628,748
68$688,599$445,763$388,253$645,496
69$723,094$431,864$365,518$663,148
70$759,983$416,158$340,896$681,799
71$799,472$398,521$314,287$701,553
72$841,792$378,822$285,589$722,528
73$887,193$356,922$254,694$744,855
74$935,950$332,675$221,490$768,678
75$988,366$305,924$185,859$794,159
76$1,044,771$276,507$147,678$821,478
77$1,105,532$244,250$106,818$850,836
78$1,171,047$208,969$63,148$882,454
79$1,241,756$170,471$16,526$916,579
80$1,318,142$128,551$0$953,485
81$1,400,737$82,994$0$999,505
82$1,490,122$33,571$0$1,052,541
83$1,586,940$0$0$1,109,994
84$1,691,895$0$0$1,176,486
85$1,805,762$0$0$1,256,266
86$1,929,395$0$0$1,342,917
87$2,063,731$0$0$1,437,100
88$2,209,802$0$0$1,539,541
89$2,368,743$0$0$1,651,040
90$2,541,802$0$0$1,772,478
91$2,730,353$0$0$1,904,823
92$2,935,910$0$0$2,049,142
93$3,160,135$0$0$2,206,606
94$3,404,862$0$0$2,378,509
95$3,672,106$0$0$2,566,270
96$3,964,087$0$0$2,771,455
97$4,283,250$0$0$2,995,788
98$4,632,284$0$0$3,241,164
99$5,014,151$0$0$3,509,672
100$5,432,115$0$0$3,803,612