Can I retire at age 62 with 490,000?

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 $490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$40,464$40,103$39,752$39,408$39,073$38,191
2 years$20,032$19,658$19,297$18,946$18,606$17,722
3 years$13,222$12,847$12,486$12,139$11,805$10,946
4 years$9,817$9,444$9,087$8,746$8,419$7,593
5 years$7,775$7,404$7,052$6,717$6,400$5,608
6 years$6,415$6,046$5,699$5,372$5,064$4,308
7 years$5,443$5,077$4,736$4,417$4,119$3,398
8 years$4,714$4,352$4,016$3,705$3,417$2,732
9 years$4,148$3,789$3,459$3,156$2,877$2,227
10 years$3,695$3,340$3,016$2,720$2,452$1,836
11 years$3,325$2,974$2,655$2,368$2,109$1,526
12 years$3,017$2,669$2,356$2,077$1,827$1,277
13 years$2,756$2,412$2,105$1,833$1,593$1,074
14 years$2,533$2,192$1,892$1,627$1,397$908
15 years$2,340$2,003$1,708$1,451$1,230$770
16 years$2,171$1,838$1,548$1,300$1,087$656
17 years$2,022$1,692$1,409$1,168$964$559
18 years$1,890$1,564$1,286$1,052$857$478
19 years$1,772$1,449$1,177$951$764$410
20 years$1,665$1,347$1,081$861$682$351
21 years$1,569$1,254$994$782$610$302
22 years$1,482$1,171$916$711$547$259
23 years$1,403$1,095$846$647$491$223
24 years$1,330$1,026$782$590$442$192
25 years$1,263$963$725$539$397$166
26 years$1,202$905$672$493$358$143
27 years$1,145$852$624$451$323$123
28 years$1,092$803$580$413$291$107
29 years$1,043$757$540$379$263$92
30 years$997$715$503$348$238$80
31 years$955$676$469$319$215$69
32 years$915$640$437$294$194$59
33 years$878$606$408$270$176$51
34 years$842$574$382$248$159$44
35 years$809$544$357$229$144$38
36 years$778$517$334$211$131$33
37 years$749$491$312$194$118$29
38 years$721$466$292$179$107$25
39 years$695$444$274$165$97$22
40 years$670$422$257$152$88$19
41 years$646$402$241$140$80$16
42 years$624$383$226$130$73$14
43 years$603$365$212$120$66$12
44 years$582$347$199$110$60$10
45 years$563$331$187$102$54$9
46 years$544$316$175$94$49$8
47 years$527$302$165$87$45$7
48 years$510$288$155$80$41$6
49 years$494$275$146$74$37$5
50 years$478$263$137$69$34$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $490,000, adding $6,927 every year, while hoping to spend $33,082 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: 43/32/25 Blend
61$490,000$490,000$490,000$490,000
62$547,125$521,155$513,560$566,408
63$567,733$511,493$495,565$571,156
64$589,334$500,248$475,859$572,601
65$611,995$487,309$454,349$573,516
66$635,787$472,556$430,939$573,869
67$660,789$455,863$405,527$573,630
68$687,086$437,097$378,009$572,767
69$714,771$416,117$348,274$571,248
70$743,944$392,773$316,208$569,042
71$774,715$366,908$281,689$566,115
72$807,204$338,354$244,594$562,438
73$841,541$306,935$204,790$557,977
74$877,868$272,465$162,140$552,703
75$916,341$234,747$116,503$546,587
76$957,130$193,571$67,727$539,600
77$1,000,420$148,719$15,659$531,717
78$1,046,414$99,957$0$522,913
79$1,095,333$47,040$0$523,814
80$1,147,421$0$0$528,904
81$1,202,944$0$0$537,662
82$1,262,192$0$0$564,718
83$1,325,485$0$0$593,658
84$1,393,172$0$0$624,647
85$1,465,636$0$0$657,867
86$1,543,299$0$0$693,513
87$1,626,620$0$0$731,805
88$1,716,105$0$0$772,981
89$1,812,311$0$0$817,302
90$1,915,846$0$0$865,057
91$2,027,381$0$0$916,561
92$2,147,649$0$0$972,161
93$2,277,459$0$0$1,032,239
94$2,417,699$0$0$1,097,214
95$2,569,343$0$0$1,167,546
96$2,733,464$0$0$1,243,743
97$2,911,240$0$0$1,326,360
98$3,103,965$0$0$1,416,010
99$3,313,066$0$0$1,513,368
100$3,540,109$0$0$1,619,173