Can I retire at age 62 with 283,000?

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 $283,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$23,370$23,162$22,959$22,760$22,567$22,453
2 years$11,569$11,354$11,145$10,942$10,746$10,631
3 years$7,636$7,420$7,212$7,011$6,818$6,705
4 years$5,670$5,454$5,248$5,051$4,862$4,753
5 years$4,491$4,276$4,073$3,880$3,696$3,591
6 years$3,705$3,492$3,291$3,103$2,925$2,823
7 years$3,144$2,932$2,735$2,551$2,379$2,281
8 years$2,723$2,514$2,320$2,140$1,973$1,880
9 years$2,396$2,189$1,998$1,823$1,662$1,572
10 years$2,134$1,929$1,742$1,571$1,416$1,330
11 years$1,920$1,717$1,533$1,367$1,218$1,135
12 years$1,742$1,541$1,361$1,199$1,055$977
13 years$1,592$1,393$1,216$1,059$920$845
14 years$1,463$1,266$1,092$940$807$735
15 years$1,351$1,157$986$838$710$642
16 years$1,254$1,061$894$751$628$563
17 years$1,168$977$814$674$557$495
18 years$1,091$903$743$608$495$437
19 years$1,023$837$680$549$441$386
20 years$962$778$624$497$394$342
21 years$906$725$574$451$353$303
22 years$856$676$529$410$316$269
23 years$810$633$489$374$284$240
24 years$768$593$452$341$255$213
25 years$730$556$418$311$229$190
26 years$694$523$388$285$207$170
27 years$661$492$360$261$186$152
28 years$631$464$335$239$168$136
29 years$602$437$312$219$152$121
30 years$576$413$290$201$137$109
31 years$551$390$271$185$124$97
32 years$528$369$253$170$112$87
33 years$507$350$236$156$102$78
34 years$487$332$220$143$92$70
35 years$467$314$206$132$83$63
36 years$449$298$193$122$75$56
37 years$433$283$180$112$68$50
38 years$416$269$169$103$62$45
39 years$401$256$158$95$56$41
40 years$387$244$148$88$51$37
41 years$373$232$139$81$46$33
42 years$360$221$130$75$42$29
43 years$348$211$122$69$38$26
44 years$336$201$115$64$35$24
45 years$325$191$108$59$31$21
46 years$314$183$101$54$29$19
47 years$304$174$95$50$26$17
48 years$295$166$89$46$24$15
49 years$285$159$84$43$21$14
50 years$276$152$79$40$19$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $283,000, adding $3,629 every year, while hoping to spend $20,223 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: 40/33/27 Blend
61$283,000$283,000$283,000$283,000
62$315,609$300,610$296,224$325,596
63$326,284$293,823$284,630$326,384
64$337,370$286,026$271,970$325,084
65$348,888$277,147$258,187$323,287
66$360,860$267,112$243,221$320,962
67$373,308$255,841$227,010$318,073
68$386,259$243,251$209,489$314,585
69$399,740$229,252$190,589$310,459
70$413,779$213,751$170,239$305,657
71$428,408$196,649$148,366$300,137
72$443,660$177,840$124,891$293,856
73$459,573$157,213$99,734$286,769
74$476,184$134,651$72,809$278,829
75$493,536$110,030$44,030$269,987
76$511,674$83,219$13,303$260,192
77$530,649$54,080$0$249,391
78$550,512$22,468$0$243,144
79$571,322$0$0$240,234
80$593,142$0$0$241,071
81$616,039$0$0$250,522
82$640,087$0$0$260,460
83$665,365$0$0$270,919
84$691,962$0$0$281,939
85$719,972$0$0$293,558
86$749,498$0$0$305,823
87$780,652$0$0$318,783
88$813,557$0$0$332,490
89$848,347$0$0$347,002
90$885,168$0$0$362,383
91$924,178$0$0$378,703
92$965,552$0$0$396,038
93$1,009,480$0$0$414,470
94$1,056,170$0$0$434,090
95$1,105,849$0$0$454,997
96$1,158,768$0$0$477,301
97$1,215,198$0$0$501,121
98$1,275,438$0$0$526,586
99$1,339,816$0$0$553,842
100$1,408,690$0$0$583,044