Can I retire at age 62 with 389,000?

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 $389,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$32,123$31,837$31,558$31,285$31,019$30,123
2 years$15,903$15,606$15,319$15,041$14,771$13,875
3 years$10,496$10,199$9,913$9,637$9,371$8,504
4 years$7,794$7,497$7,214$6,943$6,684$5,851
5 years$6,173$5,878$5,598$5,333$5,081$4,286
6 years$5,092$4,800$4,524$4,265$4,020$3,264
7 years$4,321$4,031$3,760$3,506$3,270$2,551
8 years$3,743$3,455$3,188$2,941$2,712$2,032
9 years$3,293$3,008$2,746$2,505$2,284$1,640
10 years$2,934$2,652$2,394$2,160$1,946$1,339
11 years$2,640$2,361$2,108$1,880$1,674$1,101
12 years$2,395$2,119$1,871$1,649$1,451$912
13 years$2,188$1,915$1,671$1,455$1,265$759
14 years$2,011$1,741$1,502$1,292$1,109$635
15 years$1,858$1,590$1,356$1,152$976$532
16 years$1,723$1,459$1,229$1,032$863$448
17 years$1,605$1,343$1,119$927$765$378
18 years$1,500$1,241$1,021$835$680$319
19 years$1,406$1,151$935$755$606$270
20 years$1,322$1,069$858$684$542$229
21 years$1,246$996$789$620$485$194
22 years$1,177$930$727$564$434$165
23 years$1,114$869$672$514$390$140
24 years$1,056$815$621$469$351$119
25 years$1,003$764$575$428$315$101
26 years$954$718$533$391$284$86
27 years$909$676$495$358$256$74
28 years$867$637$461$328$231$63
29 years$828$601$429$301$209$53
30 years$792$568$399$276$189$46
31 years$758$537$372$254$170$39
32 years$726$508$347$233$154$33
33 years$697$481$324$214$140$28
34 years$669$456$303$197$126$24
35 years$643$432$283$182$114$21
36 years$618$410$265$167$104$18
37 years$594$390$248$154$94$15
38 years$572$370$232$142$85$13
39 years$552$352$218$131$77$11
40 years$532$335$204$121$70$9
41 years$513$319$191$111$64$8
42 years$495$304$179$103$58$7
43 years$478$289$168$95$52$6
44 years$462$276$158$88$48$5
45 years$447$263$148$81$43$4
46 years$432$251$139$75$39$4
47 years$418$239$131$69$36$3
48 years$405$229$123$64$32$3
49 years$392$218$116$59$29$2
50 years$380$209$109$55$27$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $389,000, adding $4,617 every year, while hoping to spend $29,493 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: 52/36/12 Blend
61$389,000$389,000$389,000$389,000
62$433,440$412,823$406,794$454,372
63$446,271$401,671$389,041$458,011
64$459,422$388,985$369,705$458,432
65$472,894$374,656$348,702$458,213
66$486,690$358,574$325,943$457,301
67$500,807$340,620$301,337$455,640
68$515,245$320,666$274,788$453,169
69$530,002$298,580$246,195$449,825
70$545,073$274,222$215,454$445,539
71$560,453$247,441$182,454$440,238
72$576,136$218,082$147,083$433,845
73$592,111$185,977$109,219$426,277
74$608,367$150,951$68,739$417,446
75$624,892$112,819$25,513$407,258
76$641,667$71,384$0$395,612
77$658,675$26,439$0$385,042
78$675,891$0$0$376,452
79$693,290$0$0$375,276
80$710,839$0$0$384,640
81$728,504$0$0$394,047
82$746,243$0$0$403,475
83$764,010$0$0$412,895
84$781,751$0$0$422,277
85$799,405$0$0$431,584
86$816,905$0$0$440,777
87$834,172$0$0$449,810
88$851,120$0$0$458,634
89$867,650$0$0$467,190
90$883,652$0$0$475,414
91$899,003$0$0$483,236
92$913,564$0$0$490,574
93$927,180$0$0$497,339
94$939,679$0$0$503,432
95$950,867$0$0$508,739
96$960,530$0$0$513,138
97$968,428$0$0$516,489
98$974,293$0$0$518,639
99$977,831$0$0$519,416
100$978,710$0$0$518,631