Can I retire at age 62 with 339,000?

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 $339,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$27,994$27,745$27,502$27,264$27,032$26,001
2 years$13,859$13,600$13,350$13,108$12,873$11,846
3 years$9,147$8,888$8,639$8,398$8,167$7,177
4 years$6,792$6,534$6,287$6,050$5,825$4,879
5 years$5,379$5,122$4,879$4,647$4,428$3,529
6 years$4,438$4,183$3,943$3,717$3,504$2,652
7 years$3,766$3,513$3,276$3,056$2,849$2,044
8 years$3,262$3,011$2,779$2,563$2,364$1,605
9 years$2,870$2,622$2,393$2,183$1,991$1,277
10 years$2,557$2,311$2,086$1,882$1,696$1,027
11 years$2,301$2,057$1,837$1,638$1,459$832
12 years$2,087$1,846$1,630$1,437$1,264$678
13 years$1,907$1,669$1,456$1,268$1,102$555
14 years$1,752$1,517$1,309$1,126$966$456
15 years$1,619$1,386$1,182$1,004$851$376
16 years$1,502$1,271$1,071$899$752$311
17 years$1,399$1,171$975$808$667$258
18 years$1,307$1,082$890$728$593$214
19 years$1,226$1,003$815$658$528$178
20 years$1,152$932$748$596$472$148
21 years$1,086$868$688$541$422$123
22 years$1,025$810$634$492$379$103
23 years$971$758$585$448$340$86
24 years$920$710$541$408$305$71
25 years$874$666$501$373$275$60
26 years$831$626$465$341$248$50
27 years$792$589$432$312$223$42
28 years$756$555$401$286$201$35
29 years$722$524$373$262$182$29
30 years$690$495$348$241$164$24
31 years$661$468$324$221$149$20
32 years$633$442$303$203$134$17
33 years$607$419$283$187$122$14
34 years$583$397$264$172$110$12
35 years$560$377$247$158$100$10
36 years$538$358$231$146$90$8
37 years$518$340$216$134$82$7
38 years$499$323$202$124$74$6
39 years$481$307$190$114$67$5
40 years$463$292$178$105$61$4
41 years$447$278$167$97$55$3
42 years$432$265$156$90$50$3
43 years$417$252$147$83$46$2
44 years$403$240$138$76$41$2
45 years$389$229$129$71$38$2
46 years$377$219$121$65$34$1
47 years$364$209$114$60$31$1
48 years$353$199$107$56$28$1
49 years$342$190$101$51$26$1
50 years$331$182$95$48$23$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $339,000, adding $4,804 every year, while hoping to spend $21,850 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: 55/29/16 Blend
61$339,000$339,000$339,000$339,000
62$378,533$360,566$355,312$397,496
63$393,895$354,986$343,967$405,368
64$410,092$348,400$331,509$411,176
65$427,186$340,735$317,878$417,009
66$445,244$331,916$303,012$422,871
67$464,340$321,861$286,844$428,774
68$484,554$310,485$269,306$434,728
69$505,976$297,695$250,324$440,746
70$528,700$283,397$229,825$446,847
71$552,833$267,489$207,729$453,049
72$578,488$249,862$183,955$459,376
73$605,792$230,403$158,415$465,856
74$634,883$208,993$131,022$472,520
75$665,910$185,503$101,681$479,407
76$699,040$159,800$70,294$486,558
77$734,454$131,741$36,761$494,024
78$772,349$101,178$973$501,862
79$812,943$67,950$0$510,137
80$856,475$31,891$0$525,278
81$903,206$0$0$541,606
82$953,424$0$0$561,362
83$1,007,444$0$0$593,584
84$1,065,613$0$0$628,304
85$1,128,310$0$0$665,751
86$1,195,954$0$0$706,179
87$1,269,003$0$0$749,866
88$1,347,961$0$0$797,115
89$1,433,383$0$0$848,263
90$1,525,877$0$0$903,678
91$1,626,114$0$0$963,765
92$1,734,830$0$0$1,028,970
93$1,852,835$0$0$1,099,784
94$1,981,020$0$0$1,176,745
95$2,120,364$0$0$1,260,447
96$2,271,946$0$0$1,351,543
97$2,436,950$0$0$1,450,749
98$2,616,684$0$0$1,558,858
99$2,812,582$0$0$1,676,737
100$3,026,224$0$0$1,805,345