Can I retire at age 62 with 479,000?

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 $479,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$39,555$39,203$38,859$38,524$38,196$37,077
2 years$19,582$19,217$18,864$18,521$18,189$17,071
3 years$12,925$12,559$12,206$11,867$11,540$10,457
4 years$9,597$9,232$8,883$8,549$8,230$7,192
5 years$7,601$7,238$6,893$6,567$6,256$5,265
6 years$6,271$5,910$5,571$5,251$4,951$4,007
7 years$5,321$4,963$4,630$4,317$4,026$3,130
8 years$4,609$4,255$3,926$3,622$3,340$2,491
9 years$4,055$3,704$3,382$3,085$2,813$2,010
10 years$3,612$3,265$2,948$2,659$2,397$1,640
11 years$3,251$2,907$2,596$2,314$2,061$1,348
12 years$2,949$2,609$2,303$2,030$1,786$1,116
13 years$2,694$2,358$2,058$1,792$1,558$928
14 years$2,476$2,143$1,849$1,591$1,365$775
15 years$2,287$1,958$1,670$1,419$1,202$650
16 years$2,122$1,796$1,514$1,270$1,062$546
17 years$1,977$1,654$1,377$1,141$942$460
18 years$1,847$1,529$1,257$1,029$838$389
19 years$1,732$1,417$1,151$929$747$329
20 years$1,628$1,317$1,056$842$667$278
21 years$1,534$1,226$972$764$597$236
22 years$1,449$1,145$896$695$535$200
23 years$1,371$1,071$827$633$480$170
24 years$1,300$1,003$765$577$432$145
25 years$1,235$941$708$527$388$123
26 years$1,175$885$657$482$350$105
27 years$1,119$833$610$441$315$89
28 years$1,068$785$567$404$285$76
29 years$1,020$740$528$371$257$65
30 years$975$699$492$340$232$55
31 years$933$661$458$312$210$47
32 years$894$625$428$287$190$40
33 years$858$592$399$264$172$34
34 years$823$561$373$243$156$29
35 years$791$532$349$224$141$25
36 years$761$505$326$206$128$21
37 years$732$480$305$190$116$18
38 years$705$456$286$175$105$15
39 years$679$434$268$161$95$13
40 years$655$413$251$149$86$11
41 years$632$393$235$137$78$10
42 years$610$374$221$127$71$8
43 years$589$356$207$117$64$7
44 years$569$340$195$108$59$6
45 years$550$324$183$100$53$5
46 years$532$309$172$92$48$4
47 years$515$295$161$85$44$4
48 years$498$282$151$79$40$3
49 years$483$269$142$73$36$3
50 years$468$257$134$67$33$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $479,000, adding $6,206 every year, while hoping to spend $28,598 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: 36/38/26 Blend
61$479,000$479,000$479,000$479,000
62$534,259$508,872$501,448$549,132
63$558,326$503,379$487,818$555,187
64$583,889$496,658$472,774$558,668
65$611,070$488,619$456,237$561,866
66$640,004$479,167$438,125$564,775
67$670,838$468,199$418,356$567,391
68$703,731$455,608$396,839$569,709
69$738,860$441,282$373,481$571,730
70$776,418$425,099$348,187$573,456
71$816,616$406,932$320,855$574,894
72$859,686$386,647$291,378$576,052
73$905,882$364,100$259,647$576,946
74$955,482$339,142$225,546$577,595
75$1,008,794$311,612$188,955$578,025
76$1,066,153$281,343$149,747$578,268
77$1,127,928$248,157$107,791$578,365
78$1,194,525$211,864$62,949$578,364
79$1,266,388$172,267$15,080$578,324
80$1,344,007$129,156$0$578,316
81$1,427,919$82,308$0$588,411
82$1,518,715$31,489$0$603,831
83$1,617,045$0$0$620,548
84$1,723,622$0$0$648,587
85$1,839,231$0$0$693,342
86$1,964,736$0$0$741,989
87$2,101,087$0$0$794,902
88$2,249,327$0$0$852,494
89$2,410,607$0$0$915,222
90$2,586,191$0$0$983,584
91$2,777,470$0$0$1,058,133
92$2,985,976$0$0$1,139,473
93$3,213,393$0$0$1,228,272
94$3,461,576$0$0$1,325,265
95$3,732,567$0$0$1,431,261
96$4,028,613$0$0$1,547,148
97$4,352,188$0$0$1,673,908
98$4,706,017$0$0$1,812,619
99$5,093,099$0$0$1,964,470
100$5,516,735$0$0$2,130,769