Can I retire at age 62 with 289,000?

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 $289,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$23,865$23,653$23,445$23,243$23,045$22,852
2 years$11,815$11,594$11,381$11,174$10,974$10,779
3 years$7,798$7,577$7,364$7,160$6,962$6,772
4 years$5,790$5,570$5,359$5,158$4,966$4,781
5 years$4,586$4,367$4,159$3,962$3,775$3,597
6 years$3,783$3,566$3,361$3,168$2,987$2,816
7 years$3,210$2,995$2,793$2,605$2,429$2,265
8 years$2,781$2,567$2,369$2,185$2,015$1,858
9 years$2,447$2,235$2,040$1,861$1,697$1,547
10 years$2,180$1,970$1,779$1,604$1,446$1,302
11 years$1,961$1,754$1,566$1,396$1,244$1,106
12 years$1,779$1,574$1,390$1,225$1,078$947
13 years$1,626$1,423$1,242$1,081$940$815
14 years$1,494$1,293$1,116$960$824$705
15 years$1,380$1,181$1,007$856$725$613
16 years$1,280$1,084$913$766$641$535
17 years$1,193$998$831$689$568$467
18 years$1,115$922$759$621$505$410
19 years$1,045$855$694$561$450$360
20 years$982$794$637$508$402$317
21 years$926$740$586$461$360$280
22 years$874$691$540$419$323$247
23 years$827$646$499$382$290$218
24 years$784$605$461$348$260$193
25 years$745$568$427$318$234$171
26 years$709$534$396$291$211$152
27 years$675$502$368$266$190$135
28 years$644$473$342$244$172$120
29 years$615$447$318$224$155$106
30 years$588$422$297$205$140$95
31 years$563$399$276$188$127$84
32 years$540$377$258$173$115$75
33 years$518$357$241$159$104$67
34 years$497$339$225$147$94$59
35 years$477$321$210$135$85$53
36 years$459$305$197$124$77$47
37 years$442$289$184$114$70$42
38 years$425$275$173$105$63$37
39 years$410$262$162$97$57$33
40 years$395$249$151$90$52$30
41 years$381$237$142$83$47$27
42 years$368$226$133$76$43$24
43 years$355$215$125$71$39$21
44 years$343$205$117$65$35$19
45 years$332$195$110$60$32$17
46 years$321$186$104$56$29$15
47 years$311$178$97$51$26$13
48 years$301$170$91$47$24$12
49 years$291$162$86$44$22$11
50 years$282$155$81$41$20$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $289,000, adding $6,791 every year, while hoping to spend $20,160 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: 51/22/27 Blend
61$289,000$289,000$289,000$289,000
62$325,483$310,166$305,686$339,305
63$337,232$303,914$294,477$343,382
64$349,504$296,680$282,216$345,237
65$362,331$288,395$268,848$346,853
66$375,747$278,984$254,312$348,217
67$389,790$268,371$238,549$349,315
68$404,500$256,473$221,492$350,132
69$419,922$243,203$203,075$350,654
70$436,103$228,469$183,227$350,868
71$453,095$212,174$161,874$350,759
72$470,954$194,214$138,941$350,314
73$489,742$174,481$114,345$349,520
74$509,525$152,859$88,005$348,365
75$530,375$129,228$59,832$346,836
76$552,371$103,458$29,734$344,923
77$575,600$75,415$0$342,617
78$600,155$44,954$0$340,597
79$626,139$11,925$0$347,355
80$653,663$0$0$354,342
81$682,851$0$0$367,357
82$713,834$0$0$384,253
83$746,760$0$0$402,225
84$781,787$0$0$421,361
85$819,092$0$0$441,759
86$858,865$0$0$463,527
87$901,316$0$0$486,781
88$946,674$0$0$511,651
89$995,192$0$0$538,276
90$1,047,145$0$0$566,812
91$1,102,837$0$0$597,428
92$1,162,599$0$0$630,310
93$1,226,796$0$0$665,663
94$1,295,827$0$0$703,709
95$1,370,133$0$0$744,697
96$1,450,195$0$0$788,895
97$1,536,543$0$0$836,600
98$1,629,759$0$0$888,140
99$1,730,482$0$0$943,872
100$1,839,415$0$0$1,004,191