Can I retire at age 62 with 474,000?

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 $474,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$39,142$38,794$38,454$38,122$37,797$37,294
2 years$19,377$19,017$18,667$18,328$17,999$17,493
3 years$12,790$12,428$12,079$11,743$11,419$10,926
4 years$9,497$9,136$8,790$8,460$8,144$7,667
5 years$7,522$7,162$6,822$6,498$6,191$5,732
6 years$6,205$5,849$5,513$5,197$4,899$4,458
7 years$5,265$4,912$4,581$4,272$3,984$3,562
8 years$4,560$4,210$3,885$3,584$3,305$2,902
9 years$4,013$3,666$3,346$3,053$2,783$2,399
10 years$3,575$3,231$2,917$2,632$2,372$2,005
11 years$3,217$2,877$2,568$2,290$2,040$1,691
12 years$2,918$2,582$2,279$2,009$1,768$1,436
13 years$2,666$2,333$2,037$1,773$1,541$1,227
14 years$2,450$2,121$1,830$1,574$1,351$1,053
15 years$2,263$1,937$1,652$1,404$1,190$908
16 years$2,100$1,778$1,498$1,257$1,051$785
17 years$1,956$1,637$1,363$1,130$932$681
18 years$1,828$1,513$1,244$1,018$829$592
19 years$1,714$1,402$1,139$920$739$516
20 years$1,611$1,303$1,045$833$660$450
21 years$1,518$1,213$962$756$591$393
22 years$1,434$1,133$886$687$529$344
23 years$1,357$1,059$818$626$475$302
24 years$1,287$993$757$571$427$265
25 years$1,222$932$701$521$384$232
26 years$1,163$875$650$477$346$204
27 years$1,107$824$604$436$312$179
28 years$1,056$776$561$400$282$158
29 years$1,009$732$522$367$254$139
30 years$965$692$486$337$230$122
31 years$924$654$453$309$208$108
32 years$885$619$423$284$188$95
33 years$849$586$395$261$170$84
34 years$815$555$369$240$154$74
35 years$783$527$345$221$139$65
36 years$753$500$323$204$126$57
37 years$724$475$302$188$115$51
38 years$698$451$283$173$104$45
39 years$672$429$265$160$94$39
40 years$648$408$248$147$85$35
41 years$625$389$233$136$77$31
42 years$603$370$219$125$70$27
43 years$583$353$205$116$64$24
44 years$563$336$193$107$58$21
45 years$544$321$181$99$53$19
46 years$527$306$170$91$48$16
47 years$510$292$159$84$43$15
48 years$493$279$150$78$39$13
49 years$478$266$141$72$36$11
50 years$463$254$132$66$32$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $474,000, adding $5,172 every year, while hoping to spend $33,413 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: 33/47/20 Blend
61$474,000$474,000$474,000$474,000
62$527,683$502,561$495,214$541,697
63$545,955$491,635$476,252$541,628
64$564,972$479,054$455,536$538,130
65$584,773$464,702$432,970$533,663
66$605,402$448,455$408,457$528,163
67$626,906$430,182$381,893$521,562
68$649,336$409,746$353,172$513,787
69$672,746$387,002$322,181$504,764
70$697,195$361,794$288,803$494,413
71$722,746$333,959$252,916$482,652
72$749,469$303,325$214,391$469,394
73$777,436$269,710$173,095$454,549
74$806,730$232,921$128,888$438,023
75$837,436$192,753$81,625$419,717
76$869,649$148,993$31,155$399,527
77$903,472$101,413$0$377,346
78$939,016$49,772$0$357,909
79$976,403$0$0$343,662
80$1,015,763$0$0$331,064
81$1,057,241$0$0$344,941
82$1,100,993$0$0$359,606
83$1,147,189$0$0$375,121
84$1,196,014$0$0$391,552
85$1,247,672$0$0$408,971
86$1,302,383$0$0$427,457
87$1,360,389$0$0$447,097
88$1,421,954$0$0$467,986
89$1,487,368$0$0$490,227
90$1,556,945$0$0$513,934
91$1,631,033$0$0$539,230
92$1,710,008$0$0$566,252
93$1,794,286$0$0$595,149
94$1,884,321$0$0$626,084
95$1,980,610$0$0$659,237
96$2,083,700$0$0$694,804
97$2,194,189$0$0$733,001
98$2,312,733$0$0$774,065
99$2,440,052$0$0$818,256
100$2,576,938$0$0$865,860