Can I retire at age 62 with 362,000?

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 $362,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$29,894$29,627$29,368$29,114$28,866$28,284
2 years$14,799$14,523$14,256$13,997$13,746$13,161
3 years$9,768$9,491$9,225$8,968$8,721$8,153
4 years$7,253$6,977$6,713$6,461$6,220$5,672
5 years$5,744$5,470$5,210$4,963$4,728$4,203
6 years$4,739$4,467$4,210$3,969$3,741$3,239
7 years$4,021$3,751$3,499$3,263$3,043$2,564
8 years$3,483$3,215$2,967$2,737$2,524$2,068
9 years$3,065$2,800$2,556$2,331$2,126$1,692
10 years$2,730$2,468$2,228$2,010$1,811$1,400
11 years$2,457$2,197$1,962$1,749$1,558$1,168
12 years$2,229$1,972$1,741$1,534$1,350$981
13 years$2,036$1,782$1,555$1,354$1,177$829
14 years$1,871$1,620$1,397$1,202$1,032$704
15 years$1,729$1,480$1,262$1,072$909$599
16 years$1,604$1,358$1,144$960$803$512
17 years$1,494$1,250$1,041$863$712$439
18 years$1,396$1,155$950$777$633$377
19 years$1,309$1,071$870$702$564$324
20 years$1,230$995$798$636$504$279
21 years$1,159$927$734$577$451$241
22 years$1,095$865$677$525$404$208
23 years$1,036$809$625$478$363$180
24 years$983$758$578$436$326$156
25 years$933$711$535$398$294$135
26 years$888$669$496$364$264$117
27 years$846$629$461$333$238$101
28 years$807$593$429$305$215$88
29 years$771$559$399$280$194$76
30 years$737$528$371$257$175$66
31 years$705$499$346$236$159$58
32 years$676$473$323$217$144$50
33 years$648$447$302$199$130$44
34 years$622$424$282$184$118$38
35 years$598$402$264$169$107$33
36 years$575$382$247$156$97$29
37 years$553$363$231$143$87$25
38 years$533$345$216$132$79$22
39 years$513$328$202$122$72$19
40 years$495$312$190$112$65$16
41 years$477$297$178$104$59$14
42 years$461$283$167$96$54$12
43 years$445$269$157$88$49$11
44 years$430$257$147$82$44$9
45 years$416$245$138$75$40$8
46 years$402$234$130$70$36$7
47 years$389$223$122$64$33$6
48 years$377$213$114$59$30$5
49 years$365$203$108$55$27$5
50 years$353$194$101$51$25$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $362,000, adding $5,620 every year, while hoping to spend $28,364 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: 36/39/25 Blend
61$362,000$362,000$362,000$362,000
62$404,721$385,535$379,924$416,078
63$415,823$374,247$362,472$413,665
64$427,108$361,456$343,486$408,064
65$438,562$347,057$322,882$401,457
66$450,174$330,941$300,577$393,772
67$461,927$312,992$276,481$384,933
68$473,802$293,087$250,502$374,858
69$485,778$271,097$222,542$363,460
70$497,831$246,884$192,501$350,647
71$509,932$220,304$160,272$336,322
72$522,049$191,203$125,745$320,381
73$534,146$159,419$88,805$302,713
74$546,180$124,781$49,331$283,201
75$558,104$87,109$7,197$261,719
76$569,865$46,212$0$238,135
77$581,403$1,889$0$222,381
78$592,651$0$0$206,936
79$603,532$0$0$209,529
80$613,961$0$0$212,724
81$623,844$0$0$215,673
82$633,073$0$0$218,333
83$641,530$0$0$220,654
84$649,082$0$0$222,583
85$655,580$0$0$224,062
86$660,861$0$0$225,022
87$664,741$0$0$225,391
88$667,015$0$0$225,086
89$667,457$0$0$224,016
90$665,814$0$0$222,080
91$661,808$0$0$219,165
92$655,128$0$0$215,148
93$645,430$0$0$209,891
94$632,332$0$0$203,241
95$615,412$0$0$195,028
96$594,201$0$0$185,066
97$568,181$0$0$173,148
98$536,778$0$0$159,043
99$499,358$0$0$142,500
100$455,217$0$0$123,237