Can I retire at age 62 with 355,000?

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 $355,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$29,316$29,054$28,800$28,551$28,308$27,402
2 years$14,513$14,242$13,980$13,726$13,480$12,576
3 years$9,579$9,308$9,046$8,795$8,552$7,678
4 years$7,113$6,842$6,583$6,336$6,100$5,262
5 years$5,633$5,364$5,109$4,867$4,637$3,838
6 years$4,647$4,380$4,129$3,892$3,669$2,909
7 years$3,943$3,679$3,431$3,200$2,984$2,264
8 years$3,416$3,153$2,910$2,684$2,475$1,794
9 years$3,005$2,745$2,506$2,286$2,085$1,442
10 years$2,677$2,420$2,185$1,971$1,776$1,171
11 years$2,409$2,154$1,924$1,715$1,528$958
12 years$2,186$1,934$1,707$1,504$1,324$789
13 years$1,997$1,747$1,525$1,328$1,154$654
14 years$1,835$1,588$1,370$1,179$1,012$543
15 years$1,695$1,451$1,237$1,052$891$453
16 years$1,573$1,331$1,122$942$787$379
17 years$1,465$1,226$1,021$846$698$318
18 years$1,369$1,133$932$762$621$267
19 years$1,283$1,050$853$689$553$225
20 years$1,207$976$783$624$494$189
21 years$1,137$909$720$566$442$159
22 years$1,074$848$664$515$396$135
23 years$1,016$793$613$469$356$114
24 years$964$743$567$428$320$96
25 years$915$698$525$391$288$81
26 years$871$656$487$357$259$69
27 years$829$617$452$327$234$58
28 years$791$581$420$299$211$49
29 years$756$549$391$275$190$42
30 years$723$518$364$252$172$35
31 years$692$490$340$231$156$30
32 years$663$463$317$213$141$25
33 years$636$439$296$196$127$22
34 years$610$416$276$180$115$18
35 years$586$394$258$166$104$15
36 years$564$374$242$153$95$13
37 years$543$356$226$141$86$11
38 years$522$338$212$130$78$9
39 years$503$321$199$119$71$8
40 years$485$306$186$110$64$7
41 years$468$291$174$102$58$6
42 years$452$277$164$94$53$5
43 years$437$264$154$87$48$4
44 years$422$252$144$80$43$4
45 years$408$240$135$74$39$3
46 years$394$229$127$68$36$3
47 years$382$219$119$63$32$2
48 years$369$209$112$58$29$2
49 years$358$199$106$54$27$2
50 years$347$190$99$50$24$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $355,000, adding $6,555 every year, while hoping to spend $28,557 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: 81/10/9 Blend
61$355,000$355,000$355,000$355,000
62$397,971$379,156$373,654$429,154
63$408,180$367,351$355,787$438,729
64$418,473$354,009$336,364$444,797
65$428,828$339,027$315,304$450,600
66$439,222$322,292$292,519$456,094
67$449,625$303,687$267,921$461,236
68$460,005$283,086$241,415$465,973
69$470,327$260,359$212,904$470,252
70$480,549$235,365$182,285$474,010
71$490,624$207,957$149,450$477,182
72$500,500$177,979$114,289$479,694
73$510,119$145,268$76,685$481,465
74$519,413$109,648$36,517$482,406
75$528,309$70,937$0$482,422
76$536,724$28,940$0$482,013
77$544,565$0$0$484,237
78$551,727$0$0$487,288
79$558,097$0$0$492,810
80$563,544$0$0$497,503
81$567,925$0$0$501,240
82$571,081$0$0$503,877
83$572,833$0$0$505,255
84$572,983$0$0$505,199
85$571,314$0$0$503,511
86$567,581$0$0$499,975
87$561,513$0$0$494,350
88$552,812$0$0$486,367
89$541,145$0$0$475,730
90$526,145$0$0$462,110
91$507,403$0$0$445,143
92$484,469$0$0$424,427
93$456,843$0$0$399,514
94$423,972$0$0$369,912
95$385,245$0$0$335,075
96$339,986$0$0$294,398
97$287,446$0$0$247,215
98$226,801$0$0$192,786
99$157,135$0$0$130,297
100$77,441$0$0$58,847