Can I retire at age 62 with 476,000?

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 $476,000?

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$39,308$38,958$38,616$38,282$37,957$37,498
2 years$19,459$19,097$18,746$18,405$18,075$17,613
3 years$12,844$12,480$12,130$11,792$11,467$11,017
4 years$9,537$9,174$8,827$8,496$8,179$7,743
5 years$7,553$7,193$6,850$6,525$6,217$5,798
6 years$6,231$5,873$5,536$5,218$4,919$4,517
7 years$5,287$4,932$4,601$4,290$4,001$3,615
8 years$4,580$4,228$3,902$3,599$3,319$2,950
9 years$4,030$3,681$3,360$3,066$2,795$2,443
10 years$3,590$3,245$2,930$2,643$2,382$2,046
11 years$3,230$2,889$2,579$2,300$2,048$1,728
12 years$2,931$2,593$2,289$2,017$1,775$1,471
13 years$2,678$2,343$2,045$1,781$1,548$1,259
14 years$2,461$2,130$1,838$1,581$1,357$1,083
15 years$2,273$1,946$1,659$1,410$1,195$935
16 years$2,109$1,785$1,504$1,262$1,056$811
17 years$1,964$1,644$1,369$1,134$936$704
18 years$1,836$1,519$1,249$1,022$832$614
19 years$1,721$1,408$1,144$924$742$536
20 years$1,618$1,308$1,050$837$663$469
21 years$1,525$1,219$966$759$593$411
22 years$1,440$1,138$890$690$532$360
23 years$1,363$1,064$822$629$477$316
24 years$1,292$997$760$573$429$278
25 years$1,227$935$704$524$386$245
26 years$1,167$879$653$479$348$216
27 years$1,112$827$606$438$313$190
28 years$1,061$780$564$402$283$167
29 years$1,013$736$524$368$255$148
30 years$969$695$488$338$231$130
31 years$928$657$455$310$209$115
32 years$889$621$425$285$189$102
33 years$852$588$397$262$171$90
34 years$818$558$371$241$155$79
35 years$786$529$347$222$140$70
36 years$756$502$324$205$127$62
37 years$727$477$303$189$115$55
38 years$700$453$284$174$104$49
39 years$675$431$266$160$95$43
40 years$651$410$250$148$86$38
41 years$628$390$234$136$78$34
42 years$606$372$219$126$71$30
43 years$585$354$206$116$64$26
44 years$566$338$193$107$58$23
45 years$547$322$182$99$53$21
46 years$529$307$170$91$48$18
47 years$512$293$160$85$44$16
48 years$495$280$151$78$40$14
49 years$480$267$141$72$36$13
50 years$465$255$133$67$33$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $476,000, adding $6,016 every year, while hoping to spend $26,003 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: 57/37/6 Blend
61$476,000$476,000$476,000$476,000
62$530,758$505,530$498,152$560,006
63$557,228$502,633$487,173$577,480
64$585,527$498,724$474,954$593,048
65$615,813$493,724$461,428$609,363
66$648,261$487,552$446,521$626,498
67$683,062$480,121$430,158$644,534
68$720,427$471,339$412,261$663,563
69$760,585$461,109$392,746$683,687
70$803,789$449,328$371,527$705,019
71$850,317$435,887$348,516$727,686
72$900,475$420,670$323,616$751,829
73$954,596$403,556$296,730$777,606
74$1,013,049$384,414$267,755$805,189
75$1,076,239$363,109$236,583$834,775
76$1,144,609$339,496$203,103$866,579
77$1,218,649$313,421$167,196$900,842
78$1,298,896$284,723$128,742$937,830
79$1,385,940$253,231$87,612$977,841
80$1,480,431$218,765$43,672$1,021,205
81$1,583,084$181,133$0$1,068,287
82$1,694,684$140,134$0$1,119,701
83$1,816,097$95,555$0$1,178,688
84$1,948,273$47,171$0$1,242,960
85$2,092,259$0$0$1,313,083
86$2,249,208$0$0$1,391,821
87$2,420,387$0$0$1,498,684
88$2,607,191$0$0$1,615,342
89$2,811,157$0$0$1,742,757
90$3,033,976$0$0$1,881,993
91$3,277,509$0$0$2,034,217
92$3,543,806$0$0$2,200,716
93$3,835,122$0$0$2,382,907
94$4,153,943$0$0$2,582,349
95$4,503,004$0$0$2,800,761
96$4,885,318$0$0$3,040,033
97$5,304,203$0$0$3,302,250
98$5,763,313$0$0$3,589,705
99$6,266,671$0$0$3,904,925
100$6,818,711$0$0$4,250,693