Can I retire at age 62 with 349,000?

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 $349,000?

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$28,820$28,563$28,313$28,068$27,830$27,689
2 years$14,267$14,002$13,744$13,494$13,252$13,110
3 years$9,417$9,150$8,893$8,646$8,408$8,269
4 years$6,992$6,726$6,472$6,229$5,996$5,862
5 years$5,538$5,274$5,023$4,784$4,558$4,428
6 years$4,569$4,306$4,059$3,826$3,607$3,482
7 years$3,877$3,616$3,373$3,146$2,933$2,813
8 years$3,358$3,100$2,861$2,639$2,434$2,318
9 years$2,955$2,699$2,464$2,248$2,049$1,938
10 years$2,632$2,379$2,148$1,938$1,746$1,640
11 years$2,368$2,118$1,891$1,686$1,502$1,400
12 years$2,149$1,901$1,678$1,479$1,301$1,204
13 years$1,963$1,718$1,499$1,306$1,135$1,042
14 years$1,804$1,562$1,347$1,159$995$907
15 years$1,667$1,426$1,216$1,034$876$792
16 years$1,546$1,309$1,103$926$774$694
17 years$1,440$1,205$1,004$832$686$611
18 years$1,346$1,114$916$749$610$538
19 years$1,262$1,032$839$677$544$476
20 years$1,186$959$770$613$486$421
21 years$1,118$893$708$557$435$374
22 years$1,056$834$652$506$390$332
23 years$999$780$602$461$350$296
24 years$947$731$557$420$314$263
25 years$900$686$516$384$283$235
26 years$856$645$479$351$255$210
27 years$815$607$444$321$230$187
28 years$778$572$413$294$207$167
29 years$743$539$384$270$187$150
30 years$710$509$358$248$169$134
31 years$680$481$334$228$153$120
32 years$652$456$312$209$138$107
33 years$625$431$291$192$125$96
34 years$600$409$272$177$113$86
35 years$576$388$254$163$103$77
36 years$554$368$238$150$93$69
37 years$533$350$222$138$84$62
38 years$514$332$208$127$76$56
39 years$495$316$195$117$69$50
40 years$477$301$183$108$63$45
41 years$460$286$172$100$57$40
42 years$444$273$161$92$52$36
43 years$429$260$151$85$47$33
44 years$415$247$142$79$43$29
45 years$401$236$133$73$39$26
46 years$388$225$125$67$35$24
47 years$375$215$117$62$32$21
48 years$363$205$110$57$29$19
49 years$352$196$104$53$26$17
50 years$341$187$98$49$24$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $349,000, adding $6,162 every year, while hoping to spend $29,390 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: 32/45/23 Blend
61$349,000$349,000$349,000$349,000
62$390,954$372,457$367,048$400,537
63$399,561$359,437$348,073$395,263
64$408,060$344,793$327,478$386,514
65$416,410$328,416$305,176$376,490
66$424,564$310,189$281,080$365,099
67$432,469$289,987$255,095$352,241
68$440,065$267,681$227,125$337,810
69$447,285$243,131$197,067$321,694
70$454,055$216,191$164,816$303,773
71$460,292$186,708$130,261$283,917
72$465,903$154,517$93,285$261,990
73$470,784$119,447$53,769$237,844
74$474,819$81,316$11,586$211,324
75$477,881$39,930$0$182,261
76$479,825$0$0$158,682
77$480,494$0$0$138,191
78$479,711$0$0$136,931
79$477,279$0$0$135,058
80$472,981$0$0$132,495
81$466,576$0$0$129,156
82$457,796$0$0$124,945
83$446,344$0$0$119,757
84$431,894$0$0$113,476
85$414,079$0$0$105,971
86$392,499$0$0$97,099
87$366,708$0$0$86,703
88$336,212$0$0$74,606
89$300,467$0$0$60,617
90$258,870$0$0$44,519
91$210,754$0$0$26,079
92$155,383$0$0$5,033
93$91,943$0$0$0
94$19,534$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0