Can I retire at age 62 with 495,000?

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 $495,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$40,877$40,513$40,157$39,811$39,472$38,754
2 years$20,236$19,859$19,494$19,140$18,796$18,076
3 years$13,357$12,978$12,614$12,263$11,925$11,224
4 years$9,918$9,540$9,180$8,835$8,505$7,829
5 years$7,855$7,480$7,124$6,786$6,465$5,817
6 years$6,480$6,108$5,757$5,427$5,116$4,495
7 years$5,498$5,129$4,784$4,462$4,161$3,567
8 years$4,763$4,397$4,057$3,743$3,452$2,886
9 years$4,190$3,828$3,495$3,188$2,907$2,369
10 years$3,733$3,374$3,047$2,748$2,477$1,965
11 years$3,359$3,004$2,682$2,392$2,130$1,645
12 years$3,048$2,696$2,380$2,098$1,846$1,387
13 years$2,784$2,437$2,127$1,852$1,610$1,175
14 years$2,559$2,215$1,911$1,644$1,411$1,001
15 years$2,364$2,023$1,725$1,466$1,242$856
16 years$2,193$1,856$1,564$1,313$1,098$734
17 years$2,043$1,710$1,423$1,180$974$631
18 years$1,909$1,580$1,299$1,063$866$544
19 years$1,790$1,464$1,189$961$772$470
20 years$1,682$1,360$1,092$870$689$406
21 years$1,585$1,267$1,004$790$617$352
22 years$1,497$1,183$925$718$553$305
23 years$1,417$1,106$854$654$496$265
24 years$1,344$1,037$790$596$446$230
25 years$1,276$973$732$545$401$200
26 years$1,214$914$679$498$362$174
27 years$1,157$860$630$456$326$152
28 years$1,103$811$586$418$294$132
29 years$1,054$765$545$383$266$115
30 years$1,008$722$508$351$240$100
31 years$965$683$474$323$217$88
32 years$924$646$442$297$196$76
33 years$886$612$413$273$178$67
34 years$851$580$385$251$161$58
35 years$818$550$360$231$146$51
36 years$786$522$337$213$132$44
37 years$756$496$316$196$120$39
38 years$728$471$295$181$108$34
39 years$702$448$277$167$98$30
40 years$677$426$259$154$89$26
41 years$653$406$243$142$81$23
42 years$630$386$228$131$73$20
43 years$609$368$214$121$67$17
44 years$588$351$201$112$60$15
45 years$569$335$189$103$55$13
46 years$550$319$177$95$50$11
47 years$532$305$167$88$45$10
48 years$515$291$157$81$41$9
49 years$499$278$147$75$37$8
50 years$483$265$138$69$34$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $495,000, adding $3,121 every year, while hoping to spend $23,698 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: 87/8/5 Blend
61$495,000$495,000$495,000$495,000
62$548,709$522,474$514,802$596,214
63$579,463$522,861$506,833$628,002
64$612,560$522,473$497,803$659,309
65$648,213$521,246$487,652$692,941
66$686,657$519,114$476,315$729,114
67$728,152$516,005$463,727$768,067
68$772,979$511,846$449,818$810,062
69$821,451$506,555$434,515$855,387
70$873,911$500,048$417,743$904,360
71$930,735$492,235$399,423$957,330
72$992,337$483,022$379,470$1,014,682
73$1,059,173$472,307$357,800$1,076,840
74$1,131,743$459,984$334,320$1,144,270
75$1,210,597$445,940$308,937$1,217,487
76$1,296,343$430,055$281,550$1,297,055
77$1,389,645$412,204$252,058$1,383,598
78$1,491,239$392,252$220,352$1,477,803
79$1,601,930$370,057$186,319$1,580,425
80$1,722,608$345,470$149,841$1,692,298
81$1,854,248$318,333$110,795$1,814,339
82$1,997,928$288,478$69,053$1,947,559
83$2,154,832$255,728$24,482$2,093,072
84$2,326,263$219,897$0$2,252,106
85$2,513,656$180,787$0$2,427,243
86$2,718,593$138,188$0$2,620,215
87$2,942,811$91,882$0$2,831,366
88$3,188,228$41,635$0$3,062,512
89$3,456,954$0$0$3,315,655
90$3,751,310$0$0$3,594,127
91$4,073,855$0$0$3,903,289
92$4,427,407$0$0$4,242,175
93$4,815,070$0$0$4,613,762
94$5,240,260$0$0$5,021,326
95$5,706,742$0$0$5,468,475
96$6,218,662$0$0$5,959,185
97$6,780,588$0$0$6,497,834
98$7,397,550$0$0$7,089,247
99$8,075,091$0$0$7,738,736
100$8,819,316$0$0$8,452,153