Can I retire at age 62 with 477,000?

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 $477,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$39,390$39,039$38,697$38,363$38,037$37,162
2 years$19,500$19,137$18,785$18,444$18,113$17,237
3 years$12,871$12,506$12,155$11,817$11,491$10,641
4 years$9,557$9,193$8,846$8,514$8,196$7,378
5 years$7,569$7,208$6,865$6,539$6,230$5,447
6 years$6,244$5,886$5,548$5,229$4,930$4,182
7 years$5,298$4,943$4,610$4,299$4,009$3,296
8 years$4,589$4,237$3,910$3,607$3,326$2,648
9 years$4,038$3,689$3,368$3,072$2,801$2,158
10 years$3,597$3,252$2,936$2,648$2,387$1,777
11 years$3,237$2,895$2,585$2,305$2,053$1,476
12 years$2,937$2,598$2,294$2,022$1,779$1,235
13 years$2,683$2,348$2,049$1,785$1,551$1,038
14 years$2,466$2,134$1,841$1,584$1,360$877
15 years$2,278$1,950$1,663$1,413$1,197$743
16 years$2,113$1,789$1,507$1,265$1,058$632
17 years$1,968$1,647$1,372$1,137$938$539
18 years$1,840$1,522$1,252$1,024$834$460
19 years$1,725$1,411$1,146$926$743$394
20 years$1,621$1,311$1,052$838$664$338
21 years$1,528$1,221$968$761$594$290
22 years$1,443$1,140$892$692$533$249
23 years$1,366$1,066$823$630$478$214
24 years$1,295$999$762$575$430$184
25 years$1,230$937$705$525$387$159
26 years$1,170$881$654$480$348$137
27 years$1,114$829$607$439$314$118
28 years$1,063$781$565$402$283$102
29 years$1,015$737$525$369$256$88
30 years$971$696$489$339$231$76
31 years$929$658$456$311$209$66
32 years$891$623$426$286$189$57
33 years$854$590$398$263$171$49
34 years$820$559$371$242$155$42
35 years$788$530$347$223$140$37
36 years$758$503$325$205$127$32
37 years$729$478$304$189$115$27
38 years$702$454$285$174$104$24
39 years$676$432$267$161$95$20
40 years$652$411$250$148$86$18
41 years$629$391$234$137$78$15
42 years$607$372$220$126$71$13
43 years$587$355$206$116$64$11
44 years$567$338$194$107$58$10
45 years$548$323$182$99$53$9
46 years$530$308$171$92$48$7
47 years$513$294$161$85$44$6
48 years$496$280$151$78$40$6
49 years$481$268$142$72$36$5
50 years$466$256$133$67$33$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $477,000, adding $6,837 every year, while hoping to spend $21,745 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: 72/6/22 Blend
61$477,000$477,000$477,000$477,000
62$532,706$507,425$500,032$567,710
63$563,906$509,153$493,646$593,650
64$597,559$510,236$486,318$618,814
65$633,893$510,620$477,993$645,837
66$673,158$510,248$468,613$674,900
67$715,627$509,058$458,119$706,204
68$761,604$506,984$446,449$739,968
69$811,419$503,958$433,536$776,438
70$865,437$499,906$419,314$815,883
71$924,060$494,749$403,709$858,600
72$987,728$488,406$386,647$904,917
73$1,056,927$480,789$368,050$955,195
74$1,132,191$471,804$347,837$1,009,834
75$1,214,106$461,354$325,921$1,069,274
76$1,303,319$449,335$302,214$1,134,001
77$1,400,541$435,636$276,622$1,204,551
78$1,506,555$420,141$249,047$1,281,516
79$1,622,222$402,726$219,388$1,365,548
80$1,748,489$383,261$187,539$1,457,367
81$1,886,401$361,607$153,388$1,557,768
82$2,037,107$337,618$116,819$1,667,626
83$2,201,871$311,140$77,711$1,787,908
84$2,382,085$282,009$35,938$1,919,679
85$2,579,283$250,054$0$2,064,116
86$2,795,154$215,090$0$2,224,544
87$3,031,557$176,926$0$2,409,499
88$3,290,538$135,358$0$2,612,149
89$3,574,353$90,171$0$2,834,267
90$3,885,484$41,136$0$3,077,811
91$4,226,667$0$0$3,344,934
92$4,600,915$0$0$3,638,802
93$5,011,543$0$0$3,964,241
94$5,462,208$0$0$4,321,435
95$5,956,935$0$0$4,713,578
96$6,500,158$0$0$5,144,186
97$7,096,761$0$0$5,617,136
98$7,752,126$0$0$6,136,697
99$8,472,180$0$0$6,707,571
100$9,263,454$0$0$7,334,939