Can I retire at age 62 with 354,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $354,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$29,233$28,973$28,719$28,471$28,228$27,807
2 years$14,472$14,202$13,941$13,688$13,442$13,018
3 years$9,552$9,281$9,021$8,770$8,528$8,115
4 years$7,093$6,823$6,565$6,318$6,082$5,684
5 years$5,617$5,349$5,095$4,853$4,624$4,240
6 years$4,634$4,368$4,117$3,881$3,659$3,291
7 years$3,932$3,668$3,421$3,191$2,975$2,624
8 years$3,406$3,144$2,902$2,677$2,468$2,132
9 years$2,997$2,738$2,499$2,280$2,079$1,758
10 years$2,670$2,413$2,179$1,965$1,771$1,466
11 years$2,402$2,148$1,918$1,710$1,523$1,233
12 years$2,180$1,928$1,702$1,500$1,320$1,045
13 years$1,991$1,743$1,521$1,325$1,151$890
14 years$1,830$1,584$1,367$1,176$1,009$762
15 years$1,690$1,447$1,234$1,049$888$655
16 years$1,568$1,328$1,119$939$785$565
17 years$1,461$1,223$1,018$844$696$489
18 years$1,365$1,130$929$760$619$424
19 years$1,280$1,047$851$687$552$368
20 years$1,203$973$781$622$493$320
21 years$1,134$906$718$565$441$279
22 years$1,071$846$662$513$395$243
23 years$1,013$791$611$468$355$213
24 years$961$741$565$426$319$186
25 years$913$696$523$389$287$163
26 years$868$654$485$356$259$143
27 years$827$615$451$326$233$125
28 years$789$580$419$299$210$110
29 years$754$547$390$274$190$96
30 years$721$517$363$251$172$84
31 years$690$488$339$231$155$74
32 years$661$462$316$212$140$65
33 years$634$438$295$195$127$57
34 years$609$415$276$179$115$50
35 years$585$393$258$165$104$44
36 years$562$373$241$152$94$39
37 years$541$355$226$140$86$34
38 years$521$337$211$129$78$30
39 years$502$320$198$119$70$26
40 years$484$305$186$110$64$23
41 years$467$290$174$101$58$20
42 years$451$276$163$94$53$18
43 years$435$263$153$86$48$16
44 years$421$251$144$80$43$14
45 years$407$239$135$74$39$12
46 years$393$228$127$68$36$11
47 years$381$218$119$63$32$9
48 years$368$208$112$58$29$8
49 years$357$199$105$54$27$7
50 years$346$190$99$50$24$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $354,000, adding $3,967 every year, while hoping to spend $20,935 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: 88/7/5 Blend
61$354,000$354,000$354,000$354,000
62$394,200$375,438$369,951$428,577
63$412,134$371,560$360,070$447,674
64$431,195$366,790$349,156$465,311
65$451,477$361,062$337,152$484,008
66$473,081$354,308$324,000$503,853
67$496,118$346,452$309,638$524,948
68$520,711$337,417$293,999$547,402
69$546,994$327,120$277,018$571,333
70$575,111$315,474$258,623$596,875
71$605,225$302,385$238,739$624,172
72$637,512$287,755$217,290$653,385
73$672,164$271,481$194,195$684,689
74$709,394$253,453$169,370$718,277
75$749,434$233,554$142,726$754,362
76$792,540$211,662$114,172$793,179
77$838,994$187,648$83,610$834,984
78$889,102$161,373$50,942$880,062
79$943,204$132,694$16,062$928,726
80$1,001,672$101,458$0$981,319
81$1,064,915$67,501$0$1,039,350
82$1,133,382$30,655$0$1,103,094
83$1,207,569$0$0$1,172,161
84$1,288,017$0$0$1,247,776
85$1,375,326$0$0$1,332,404
86$1,470,152$0$0$1,424,320
87$1,573,218$0$0$1,524,226
88$1,685,320$0$0$1,632,894
89$1,807,333$0$0$1,751,171
90$1,940,220$0$0$1,879,991
91$2,085,040$0$0$2,020,383
92$2,242,960$0$0$2,173,477
93$2,415,262$0$0$2,340,517
94$2,603,361$0$0$2,522,873
95$2,808,810$0$0$2,722,055
96$3,033,322$0$0$2,939,720
97$3,278,782$0$0$3,177,699
98$3,547,265$0$0$3,438,001
99$3,841,056$0$0$3,722,845
100$4,162,670$0$0$4,034,669