Can I retire at age 62 with 498,000?

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 $498,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$41,124$40,758$40,401$40,052$39,711$38,767
2 years$20,359$19,979$19,612$19,256$18,910$17,964
3 years$13,438$13,057$12,690$12,337$11,997$11,080
4 years$9,978$9,598$9,235$8,888$8,557$7,674
5 years$7,902$7,525$7,167$6,827$6,505$5,659
6 years$6,519$6,145$5,792$5,460$5,147$4,340
7 years$5,532$5,160$4,813$4,489$4,186$3,418
8 years$4,791$4,423$4,082$3,765$3,473$2,742
9 years$4,216$3,851$3,516$3,207$2,924$2,232
10 years$3,756$3,395$3,065$2,765$2,492$1,836
11 years$3,380$3,022$2,698$2,406$2,143$1,523
12 years$3,066$2,713$2,395$2,111$1,857$1,272
13 years$2,801$2,451$2,140$1,863$1,619$1,068
14 years$2,574$2,228$1,922$1,654$1,420$901
15 years$2,378$2,036$1,736$1,475$1,250$763
16 years$2,206$1,868$1,574$1,321$1,105$648
17 years$2,055$1,720$1,432$1,187$979$551
18 years$1,921$1,589$1,307$1,069$871$470
19 years$1,800$1,473$1,197$966$776$402
20 years$1,693$1,369$1,098$875$693$344
21 years$1,595$1,275$1,010$794$620$295
22 years$1,506$1,190$931$722$556$253
23 years$1,426$1,113$860$658$499$217
24 years$1,352$1,043$795$600$449$187
25 years$1,284$979$736$548$404$161
26 years$1,221$920$683$501$364$138
27 years$1,164$866$634$459$328$119
28 years$1,110$816$590$420$296$102
29 years$1,060$770$549$385$267$88
30 years$1,014$727$511$354$241$76
31 years$970$687$476$325$218$66
32 years$930$650$445$298$197$57
33 years$892$616$415$274$179$49
34 years$856$583$388$252$162$42
35 years$823$553$363$232$147$36
36 years$791$525$339$214$133$31
37 years$761$499$317$197$120$27
38 years$733$474$297$182$109$23
39 years$706$451$279$168$99$20
40 years$681$429$261$155$90$17
41 years$657$408$245$143$81$15
42 years$634$389$230$132$74$13
43 years$612$370$215$122$67$11
44 years$592$353$202$112$61$10
45 years$572$337$190$104$55$8
46 years$553$321$178$96$50$7
47 years$535$307$168$88$46$6
48 years$518$293$157$82$41$5
49 years$502$279$148$76$38$5
50 years$486$267$139$70$34$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $498,000, adding $6,331 every year, while hoping to spend $31,701 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: 52/41/7 Blend
61$498,000$498,000$498,000$498,000
62$555,326$528,932$521,213$582,927
63$578,240$521,120$504,944$594,559
64$602,428$511,863$487,068$603,226
65$627,988$501,057$467,497$611,891
66$655,024$488,590$446,139$620,563
67$683,652$474,346$422,900$629,248
68$713,997$458,202$397,680$637,960
69$746,197$440,025$370,374$646,712
70$780,401$419,679$340,874$655,524
71$816,774$397,015$309,065$664,418
72$855,495$371,879$274,829$673,422
73$896,762$344,107$238,042$682,570
74$940,788$313,525$198,573$691,900
75$987,811$279,950$156,288$701,459
76$1,038,089$243,189$111,044$711,303
77$1,091,905$203,036$62,695$721,494
78$1,149,569$159,275$11,086$732,108
79$1,211,424$111,678$0$743,229
80$1,277,843$60,004$0$758,241
81$1,349,237$3,998$0$775,071
82$1,426,056$0$0$793,030
83$1,508,795$0$0$837,822
84$1,597,998$0$0$888,095
85$1,694,262$0$0$942,388
86$1,798,242$0$0$1,001,075
87$1,910,660$0$0$1,064,570
88$2,032,309$0$0$1,133,324
89$2,164,058$0$0$1,207,837
90$2,306,867$0$0$1,288,656
91$2,461,787$0$0$1,376,383
92$2,629,976$0$0$1,471,681
93$2,812,710$0$0$1,575,280
94$3,011,388$0$0$1,687,980
95$3,227,553$0$0$1,810,665
96$3,462,900$0$0$1,944,304
97$3,719,296$0$0$2,089,967
98$3,998,794$0$0$2,248,828
99$4,303,655$0$0$2,422,183
100$4,636,367$0$0$2,611,455