Can I retire at age 62 with 496,000?

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 $496,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$40,959$40,594$40,238$39,891$39,552$39,106
2 years$20,277$19,899$19,533$19,178$18,834$18,386
3 years$13,384$13,004$12,639$12,288$11,949$11,512
4 years$9,938$9,560$9,198$8,853$8,522$8,099
5 years$7,871$7,495$7,138$6,800$6,478$6,071
6 years$6,493$6,120$5,769$5,438$5,126$4,734
7 years$5,510$5,140$4,794$4,471$4,169$3,793
8 years$4,772$4,406$4,066$3,750$3,459$3,099
9 years$4,199$3,836$3,502$3,194$2,913$2,569
10 years$3,741$3,381$3,053$2,754$2,482$2,154
11 years$3,366$3,010$2,688$2,397$2,134$1,822
12 years$3,054$2,702$2,385$2,102$1,850$1,553
13 years$2,790$2,441$2,131$1,856$1,613$1,331
14 years$2,564$2,219$1,915$1,647$1,414$1,146
15 years$2,368$2,027$1,729$1,469$1,245$991
16 years$2,197$1,860$1,567$1,315$1,100$860
17 years$2,047$1,713$1,426$1,182$976$749
18 years$1,913$1,583$1,302$1,065$867$653
19 years$1,793$1,467$1,192$962$773$571
20 years$1,686$1,363$1,094$872$691$500
21 years$1,589$1,270$1,006$791$618$439
22 years$1,500$1,185$927$719$554$386
23 years$1,420$1,109$856$655$497$339
24 years$1,346$1,039$792$597$447$299
25 years$1,279$975$733$546$402$263
26 years$1,216$916$680$499$362$232
27 years$1,159$862$632$457$327$205
28 years$1,105$812$587$418$295$181
29 years$1,056$766$546$384$266$160
30 years$1,010$724$509$352$240$141
31 years$966$684$475$323$217$125
32 years$926$647$443$297$197$111
33 years$888$613$413$273$178$98
34 years$853$581$386$251$161$87
35 years$819$551$361$231$146$77
36 years$788$523$338$213$132$68
37 years$758$497$316$196$120$60
38 years$730$472$296$181$109$53
39 years$703$449$277$167$99$47
40 years$678$427$260$154$89$42
41 years$654$407$244$142$81$37
42 years$631$387$229$131$74$33
43 years$610$369$215$121$67$29
44 years$589$352$201$112$61$26
45 years$570$335$189$103$55$23
46 years$551$320$178$95$50$20
47 years$533$305$167$88$45$18
48 years$516$291$157$81$41$16
49 years$500$278$147$75$37$14
50 years$484$266$139$70$34$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $496,000, adding $3,753 every year, while hoping to spend $40,422 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: 38/50/12 Blend
61$496,000$496,000$496,000$496,000
62$550,463$524,175$516,487$569,236
63$563,602$506,851$490,781$565,618
64$576,726$487,323$462,859$557,499
65$589,791$465,441$432,603$547,835
66$602,747$441,046$399,893$536,505
67$615,538$413,967$364,600$523,382
68$628,100$384,029$326,592$508,329
69$640,361$351,041$285,727$491,200
70$652,241$314,805$241,862$471,839
71$663,650$275,111$194,845$450,079
72$674,485$231,735$144,516$425,741
73$684,636$184,443$90,709$398,634
74$693,974$132,985$33,253$368,553
75$702,359$77,101$0$335,281
76$709,633$16,513$0$302,175
77$715,622$0$0$270,169
78$720,131$0$0$261,756
79$722,942$0$0$261,679
80$723,815$0$0$260,751
81$722,481$0$0$258,859
82$718,644$0$0$255,876
83$711,973$0$0$251,663
84$702,102$0$0$246,065
85$688,627$0$0$238,912
86$671,096$0$0$230,013
87$649,013$0$0$219,158
88$621,825$0$0$206,115
89$588,922$0$0$190,627
90$549,629$0$0$172,409
91$503,198$0$0$151,146
92$448,803$0$0$126,491
93$385,529$0$0$98,059
94$312,366$0$0$65,424
95$228,196$0$0$28,118
96$131,787$0$0$0
97$21,774$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0