Can I retire at age 62 with 481,000?

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 $481,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$39,721$39,367$39,022$38,685$38,356$37,612
2 years$19,664$19,297$18,942$18,598$18,265$17,518
3 years$12,979$12,611$12,257$11,916$11,588$10,862
4 years$9,637$9,270$8,920$8,585$8,265$7,565
5 years$7,633$7,268$6,922$6,594$6,283$5,612
6 years$6,297$5,935$5,594$5,273$4,971$4,329
7 years$5,343$4,984$4,649$4,335$4,043$3,430
8 years$4,628$4,272$3,943$3,637$3,354$2,770
9 years$4,072$3,720$3,396$3,098$2,825$2,270
10 years$3,628$3,279$2,960$2,670$2,407$1,880
11 years$3,264$2,919$2,606$2,324$2,070$1,570
12 years$2,962$2,620$2,313$2,038$1,794$1,321
13 years$2,706$2,368$2,067$1,800$1,564$1,118
14 years$2,487$2,152$1,857$1,598$1,371$950
15 years$2,297$1,966$1,676$1,425$1,207$810
16 years$2,131$1,804$1,520$1,276$1,067$693
17 years$1,985$1,661$1,383$1,146$946$595
18 years$1,855$1,535$1,263$1,033$841$512
19 years$1,739$1,423$1,156$933$750$441
20 years$1,635$1,322$1,061$845$670$380
21 years$1,541$1,231$976$767$599$329
22 years$1,455$1,149$899$698$537$284
23 years$1,377$1,075$830$635$482$246
24 years$1,306$1,007$768$579$433$214
25 years$1,240$945$711$529$390$185
26 years$1,180$888$660$484$351$161
27 years$1,124$836$613$443$317$140
28 years$1,072$788$569$406$286$121
29 years$1,024$743$530$372$258$106
30 years$979$702$494$341$233$92
31 years$937$664$460$314$211$80
32 years$898$628$429$288$191$70
33 years$861$595$401$265$173$61
34 years$827$564$375$244$156$53
35 years$794$534$350$224$142$46
36 years$764$507$328$207$128$40
37 years$735$482$307$190$116$35
38 years$708$458$287$176$105$30
39 years$682$435$269$162$96$26
40 years$658$414$252$149$87$23
41 years$634$394$236$138$79$20
42 years$612$376$222$127$71$17
43 years$591$358$208$117$65$15
44 years$571$341$195$108$59$13
45 years$552$325$183$100$53$12
46 years$534$310$172$92$48$10
47 years$517$296$162$85$44$9
48 years$501$283$152$79$40$8
49 years$485$270$143$73$36$7
50 years$470$258$134$67$33$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $481,000, adding $6,700 every year, while hoping to spend $27,703 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: 54/35/11 Blend
61$481,000$481,000$481,000$481,000
62$536,973$511,480$504,025$564,107
63$562,269$507,067$491,434$578,871
64$589,216$501,509$477,492$591,351
65$617,954$494,721$462,126$604,286
66$648,635$486,612$445,258$617,724
67$681,427$477,087$426,805$631,721
68$716,512$466,044$406,683$646,337
69$754,092$453,376$384,802$661,644
70$794,387$438,969$361,071$677,720
71$837,638$422,702$335,390$694,654
72$884,111$404,449$307,660$712,545
73$934,097$384,073$277,772$731,505
74$987,915$361,433$245,618$751,659
75$1,045,917$336,377$211,081$773,148
76$1,108,487$308,747$174,039$796,129
77$1,176,050$278,373$134,367$820,779
78$1,249,072$245,077$91,932$847,292
79$1,328,063$208,672$46,598$875,890
80$1,413,586$168,958$0$906,818
81$1,506,260$125,724$0$940,559
82$1,606,763$78,750$0$983,059
83$1,715,844$27,800$0$1,029,201
84$1,834,325$0$0$1,079,385
85$1,963,110$0$0$1,144,594
86$2,103,194$0$0$1,227,212
87$2,255,672$0$0$1,317,181
88$2,421,748$0$0$1,415,218
89$2,602,748$0$0$1,522,111
90$2,800,131$0$0$1,638,727
91$3,015,501$0$0$1,766,021
92$3,250,626$0$0$1,905,044
93$3,507,452$0$0$2,056,951
94$3,788,119$0$0$2,223,018
95$4,094,987$0$0$2,404,645
96$4,430,650$0$0$2,603,377
97$4,797,967$0$0$2,820,914
98$5,200,084$0$0$3,059,127
99$5,640,469$0$0$3,320,078
100$6,122,937$0$0$3,606,037