Can I retire at age 62 with 497,000?

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 $497,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$41,042$40,676$40,320$39,971$39,631$38,895
2 years$20,318$19,939$19,573$19,217$18,872$18,133
3 years$13,411$13,031$12,665$12,313$11,973$11,254
4 years$9,958$9,579$9,217$8,870$8,539$7,846
5 years$7,887$7,510$7,153$6,813$6,492$5,826
6 years$6,506$6,132$5,780$5,449$5,137$4,500
7 years$5,521$5,150$4,803$4,480$4,177$3,569
8 years$4,782$4,415$4,074$3,758$3,466$2,886
9 years$4,207$3,844$3,509$3,201$2,918$2,367
10 years$3,748$3,388$3,059$2,759$2,487$1,963
11 years$3,373$3,016$2,693$2,401$2,139$1,642
12 years$3,060$2,707$2,390$2,106$1,853$1,383
13 years$2,796$2,446$2,135$1,860$1,616$1,172
14 years$2,569$2,224$1,919$1,651$1,417$997
15 years$2,373$2,031$1,732$1,472$1,247$852
16 years$2,202$1,864$1,571$1,318$1,102$730
17 years$2,051$1,716$1,429$1,184$977$627
18 years$1,917$1,586$1,305$1,067$869$540
19 years$1,797$1,470$1,194$964$775$466
20 years$1,689$1,366$1,096$873$692$403
21 years$1,592$1,272$1,008$793$619$349
22 years$1,503$1,188$929$721$555$302
23 years$1,423$1,111$858$656$498$262
24 years$1,349$1,041$793$599$448$228
25 years$1,281$977$735$547$403$198
26 years$1,219$918$682$500$363$172
27 years$1,161$864$633$458$327$150
28 years$1,108$814$588$419$295$130
29 years$1,058$768$548$384$267$113
30 years$1,012$725$510$353$241$99
31 years$968$686$475$324$218$86
32 years$928$649$444$298$197$75
33 years$890$614$414$274$178$65
34 years$854$582$387$252$161$57
35 years$821$552$362$232$146$50
36 years$789$524$338$214$132$43
37 years$760$498$317$197$120$38
38 years$731$473$297$181$109$33
39 years$705$450$278$167$99$29
40 years$679$428$261$154$90$25
41 years$656$407$244$142$81$22
42 years$633$388$229$131$74$19
43 years$611$370$215$121$67$17
44 years$591$352$202$112$61$15
45 years$571$336$190$103$55$13
46 years$552$321$178$96$50$11
47 years$534$306$167$88$45$10
48 years$517$292$157$82$41$8
49 years$501$279$148$75$37$7
50 years$485$266$139$70$34$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $497,000, adding $6,450 every year, while hoping to spend $28,780 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: 61/19/20 Blend
61$497,000$497,000$497,000$497,000
62$554,347$528,006$520,303$584,906
63$580,269$523,257$507,111$601,574
64$607,870$517,310$492,513$616,001
65$637,292$510,077$476,431$631,091
66$668,688$501,463$458,784$646,912
67$702,228$491,369$439,487$663,540
68$738,097$479,688$418,452$681,061
69$776,498$466,308$395,585$699,570
70$817,654$451,110$370,791$719,173
71$861,810$433,970$343,967$739,989
72$909,234$414,753$315,009$762,149
73$960,219$393,320$283,806$785,801
74$1,015,090$369,521$250,242$811,108
75$1,074,201$343,199$214,196$838,252
76$1,137,942$314,188$175,544$867,438
77$1,206,740$282,312$134,154$898,890
78$1,281,067$247,385$89,887$932,860
79$1,361,440$209,210$42,602$969,625
80$1,448,426$167,581$0$1,009,497
81$1,542,650$122,277$0$1,054,497
82$1,644,800$73,068$0$1,113,139
83$1,755,630$19,709$0$1,176,783
84$1,875,971$0$0$1,245,935
85$2,006,737$0$0$1,329,111
86$2,148,933$0$0$1,424,072
87$2,303,664$0$0$1,527,440
88$2,472,147$0$0$1,640,032
89$2,655,721$0$0$1,762,748
90$2,855,859$0$0$1,896,577
91$3,074,183$0$0$2,042,608
92$3,312,477$0$0$2,202,040
93$3,572,706$0$0$2,376,194
94$3,857,032$0$0$2,566,522
95$4,167,837$0$0$2,774,625
96$4,507,742$0$0$3,002,263
97$4,879,633$0$0$3,251,375
98$5,286,688$0$0$3,524,098
99$5,732,406$0$0$3,822,783
100$6,220,642$0$0$4,150,019