Can I retire at age 62 with 308,000?

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 $308,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$25,434$25,208$24,987$24,771$24,560$23,793
2 years$12,591$12,357$12,129$11,909$11,695$10,929
3 years$8,311$8,075$7,849$7,630$7,420$6,679
4 years$6,171$5,936$5,712$5,497$5,292$4,582
5 years$4,887$4,654$4,433$4,222$4,023$3,346
6 years$4,032$3,800$3,582$3,377$3,183$2,539
7 years$3,421$3,192$2,977$2,776$2,589$1,978
8 years$2,963$2,736$2,525$2,329$2,148$1,570
9 years$2,607$2,382$2,174$1,984$1,809$1,263
10 years$2,323$2,100$1,896$1,710$1,541$1,027
11 years$2,090$1,869$1,669$1,488$1,325$841
12 years$1,896$1,678$1,481$1,305$1,149$694
13 years$1,733$1,516$1,323$1,152$1,002$575
14 years$1,592$1,378$1,189$1,023$878$479
15 years$1,471$1,259$1,074$912$773$400
16 years$1,365$1,155$973$817$683$335
17 years$1,271$1,064$886$734$606$281
18 years$1,188$983$808$661$539$237
19 years$1,114$911$740$598$480$199
20 years$1,047$847$679$541$429$168
21 years$986$789$625$491$384$142
22 years$932$736$576$447$344$120
23 years$882$688$532$407$309$102
24 years$836$645$492$371$278$86
25 years$794$605$455$339$250$73
26 years$755$569$422$310$225$62
27 years$720$535$392$284$203$52
28 years$686$504$365$260$183$44
29 years$656$476$339$238$165$38
30 years$627$449$316$219$149$32
31 years$600$425$295$201$135$27
32 years$575$402$275$185$122$23
33 years$552$381$257$170$111$20
34 years$530$361$240$156$100$17
35 years$509$342$224$144$91$14
36 years$489$325$210$132$82$12
37 years$471$309$196$122$74$10
38 years$453$293$184$112$67$9
39 years$437$279$172$104$61$7
40 years$421$265$161$96$55$6
41 years$406$253$151$88$50$5
42 years$392$240$142$81$46$4
43 years$379$229$133$75$41$4
44 years$366$218$125$69$38$3
45 years$354$208$117$64$34$3
46 years$342$199$110$59$31$2
47 years$331$190$104$55$28$2
48 years$321$181$97$51$26$2
49 years$310$173$92$47$23$1
50 years$301$165$86$43$21$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $308,000, adding $2,116 every year, while hoping to spend $23,701 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: 41/35/24 Blend
61$308,000$308,000$308,000$308,000
62$341,599$325,275$320,501$353,116
63$351,224$315,995$306,020$352,303
64$361,037$305,467$290,259$349,015
65$371,031$293,604$273,152$344,986
66$381,200$280,314$254,626$340,163
67$391,534$265,501$234,607$334,486
68$402,022$249,062$213,019$327,896
69$412,653$230,891$189,780$320,325
70$423,412$210,873$164,805$311,706
71$434,281$188,886$138,007$301,963
72$445,240$164,805$109,293$291,020
73$456,268$138,493$78,567$278,791
74$467,337$109,809$45,729$265,188
75$478,417$78,601$10,673$250,116
76$489,475$44,713$0$233,475
77$500,473$7,974$0$222,004
78$511,366$0$0$212,104
79$522,105$0$0$213,192
80$532,634$0$0$217,234
81$542,892$0$0$221,131
82$552,808$0$0$224,850
83$562,304$0$0$228,355
84$571,291$0$0$231,606
85$579,670$0$0$234,557
86$587,334$0$0$237,158
87$594,157$0$0$239,352
88$600,005$0$0$241,078
89$604,724$0$0$242,264
90$608,145$0$0$242,835
91$610,080$0$0$242,703
92$610,320$0$0$241,774
93$608,631$0$0$239,940
94$604,756$0$0$237,085
95$598,408$0$0$233,078
96$589,269$0$0$227,774
97$576,988$0$0$221,014
98$561,173$0$0$212,618
99$541,394$0$0$202,392
100$517,171$0$0$190,118