Can I retire at age 62 with 353,000?

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 $353,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$29,150$28,891$28,637$28,390$28,149$27,603
2 years$14,431$14,162$13,902$13,649$13,404$12,857
3 years$9,525$9,255$8,995$8,745$8,504$7,972
4 years$7,073$6,803$6,546$6,300$6,065$5,552
5 years$5,601$5,334$5,080$4,839$4,611$4,118
6 years$4,621$4,356$4,106$3,870$3,648$3,177
7 years$3,921$3,658$3,412$3,182$2,967$2,517
8 years$3,396$3,135$2,893$2,669$2,461$2,033
9 years$2,988$2,730$2,492$2,273$2,073$1,666
10 years$2,662$2,406$2,173$1,960$1,766$1,380
11 years$2,396$2,142$1,913$1,706$1,519$1,153
12 years$2,173$1,923$1,698$1,496$1,316$970
13 years$1,986$1,738$1,517$1,321$1,148$820
14 years$1,825$1,579$1,363$1,172$1,006$697
15 years$1,686$1,443$1,230$1,046$886$595
16 years$1,564$1,324$1,115$936$783$509
17 years$1,457$1,219$1,015$841$694$437
18 years$1,361$1,127$927$758$617$375
19 years$1,276$1,044$848$685$550$324
20 years$1,200$970$778$620$491$279
21 years$1,131$904$716$563$440$241
22 years$1,068$844$660$512$394$209
23 years$1,011$789$609$466$354$181
24 years$958$739$564$425$318$157
25 years$910$694$522$388$286$136
26 years$866$652$484$355$258$118
27 years$825$614$450$325$232$103
28 years$787$578$418$298$210$89
29 years$751$545$389$273$189$77
30 years$719$515$362$251$171$67
31 years$688$487$338$230$155$59
32 years$659$461$315$212$140$51
33 years$632$436$294$195$127$44
34 years$607$414$275$179$115$39
35 years$583$392$257$165$104$34
36 years$561$372$240$152$94$29
37 years$539$354$225$140$85$26
38 years$519$336$211$129$77$22
39 years$501$320$197$119$70$19
40 years$483$304$185$110$64$17
41 years$466$289$174$101$58$15
42 years$449$276$163$93$52$13
43 years$434$263$153$86$48$11
44 years$419$250$143$80$43$10
45 years$405$239$135$73$39$8
46 years$392$228$126$68$36$7
47 years$379$217$119$63$32$6
48 years$367$207$112$58$29$6
49 years$356$198$105$54$27$5
50 years$345$189$99$49$24$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $353,000, adding $3,272 every year, while hoping to spend $27,668 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: 50/45/5 Blend
61$353,000$353,000$353,000$353,000
62$392,381$373,672$368,201$411,368
63$402,965$362,543$351,097$413,515
64$413,702$349,942$332,493$412,591
65$424,577$335,767$312,309$410,920
66$435,575$319,911$290,462$408,440
67$446,677$302,259$266,866$405,081
68$457,861$282,694$241,429$400,772
69$469,104$261,086$214,058$395,433
70$480,376$237,303$184,652$388,981
71$491,646$211,202$153,110$381,326
72$502,877$182,634$119,322$372,372
73$514,027$151,440$83,176$362,014
74$525,051$117,454$44,555$350,144
75$535,894$80,497$3,336$336,640
76$546,498$40,384$0$321,378
77$556,796$0$0$306,388
78$566,713$0$0$291,211
79$576,165$0$0$295,756
80$585,057$0$0$299,972
81$593,286$0$0$303,801
82$600,733$0$0$307,177
83$607,268$0$0$310,027
84$612,746$0$0$312,271
85$617,004$0$0$313,818
86$619,861$0$0$314,569
87$621,117$0$0$314,411
88$620,550$0$0$313,222
89$617,911$0$0$310,864
90$612,926$0$0$307,185
91$605,290$0$0$302,015
92$594,665$0$0$295,169
93$580,677$0$0$286,438
94$562,912$0$0$275,594
95$540,908$0$0$262,381
96$514,159$0$0$246,519
97$482,100$0$0$227,696
98$444,110$0$0$205,568
99$399,499$0$0$179,755
100$347,506$0$0$149,835