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%11.3%
1 years$23,865$23,653$23,445$23,243$23,045$22,919
2 years$11,815$11,594$11,381$11,174$10,974$10,847
3 years$7,798$7,577$7,364$7,160$6,962$6,838
4 years$5,790$5,570$5,359$5,158$4,966$4,845
5 years$4,586$4,367$4,159$3,962$3,775$3,658
6 years$3,783$3,566$3,361$3,168$2,987$2,875
7 years$3,210$2,995$2,793$2,605$2,429$2,321
8 years$2,781$2,567$2,369$2,185$2,015$1,912
9 years$2,447$2,235$2,040$1,861$1,697$1,598
10 years$2,180$1,970$1,779$1,604$1,446$1,351
11 years$1,961$1,754$1,566$1,396$1,244$1,153
12 years$1,779$1,574$1,390$1,225$1,078$991
13 years$1,626$1,423$1,242$1,081$940$857
14 years$1,494$1,293$1,116$960$824$745
15 years$1,380$1,181$1,007$856$725$650
16 years$1,280$1,084$913$766$641$570
17 years$1,193$998$831$689$568$501
18 years$1,115$922$759$621$505$441
19 years$1,045$855$694$561$450$390
20 years$982$794$637$508$402$345
21 years$926$740$586$461$360$306
22 years$874$691$540$419$323$271
23 years$827$646$499$382$290$241
24 years$784$605$461$348$260$215
25 years$745$568$427$318$234$191
26 years$709$534$396$291$211$171
27 years$675$502$368$266$190$152
28 years$644$473$342$244$172$136
29 years$615$447$318$224$155$122
30 years$588$422$297$205$140$109
31 years$563$399$276$188$127$97
32 years$540$377$258$173$115$87
33 years$518$357$241$159$104$78
34 years$497$339$225$147$94$70
35 years$477$321$210$135$85$63
36 years$459$305$197$124$77$56
37 years$442$289$184$114$70$50
38 years$425$275$173$105$63$45
39 years$410$262$162$97$57$40
40 years$395$249$151$90$52$36
41 years$381$237$142$83$47$33
42 years$368$226$133$76$43$29
43 years$355$215$125$71$39$26
44 years$343$205$117$65$35$24
45 years$332$195$110$60$32$21
46 years$321$186$104$56$29$19
47 years$311$178$97$51$26$17
48 years$301$170$91$47$24$15
49 years$291$162$86$44$22$14
50 years$282$155$81$41$20$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $289,000, adding $3,322 every year, while hoping to spend $21,660 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: 25/49/26 Blend
61$289,000$289,000$289,000$289,000
62$321,905$306,588$302,108$327,254
63$331,693$298,564$289,183$323,894
64$341,753$289,422$275,098$318,225
65$352,092$279,083$259,793$311,689
66$362,712$267,465$243,203$304,230
67$373,618$254,480$225,260$295,786
68$384,815$240,038$205,895$286,291
69$396,307$224,040$185,033$275,678
70$408,096$206,384$162,597$263,873
71$420,186$186,961$138,508$250,800
72$432,579$165,656$112,682$236,377
73$445,276$142,347$85,031$220,520
74$458,278$116,906$55,464$203,138
75$471,586$89,198$23,885$184,135
76$485,197$59,078$0$163,412
77$499,110$26,396$0$143,584
78$513,322$0$0$129,066
79$527,828$0$0$117,992
80$542,620$0$0$121,203
81$557,692$0$0$124,464
82$573,032$0$0$127,771
83$588,628$0$0$131,120
84$604,466$0$0$134,505
85$620,526$0$0$137,921
86$636,788$0$0$141,361
87$653,227$0$0$144,816
88$669,815$0$0$148,279
89$686,519$0$0$151,739
90$703,300$0$0$155,184
91$720,116$0$0$158,602
92$736,918$0$0$161,977
93$753,648$0$0$165,294
94$770,244$0$0$168,532
95$786,635$0$0$171,672
96$802,739$0$0$174,690
97$818,465$0$0$177,559
98$833,711$0$0$180,250
99$848,363$0$0$182,729
100$862,292$0$0$184,960