Can I retire at age 62 with 394,000?

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 $394,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$32,536$32,246$31,964$31,688$31,418$30,183
2 years$16,107$15,807$15,516$15,234$14,961$13,732
3 years$10,631$10,330$10,040$9,761$9,492$8,308
4 years$7,894$7,594$7,307$7,032$6,770$5,639
5 years$6,252$5,954$5,670$5,401$5,146$4,072
6 years$5,158$4,862$4,582$4,320$4,072$3,055
7 years$4,377$4,083$3,808$3,551$3,312$2,351
8 years$3,791$3,500$3,229$2,979$2,747$1,843
9 years$3,335$3,047$2,782$2,538$2,314$1,464
10 years$2,971$2,686$2,425$2,187$1,971$1,174
11 years$2,674$2,391$2,135$1,904$1,695$949
12 years$2,426$2,146$1,895$1,670$1,469$772
13 years$2,216$1,939$1,693$1,474$1,281$631
14 years$2,037$1,763$1,521$1,309$1,123$518
15 years$1,881$1,610$1,373$1,167$989$426
16 years$1,746$1,478$1,245$1,045$874$352
17 years$1,626$1,361$1,133$939$775$291
18 years$1,520$1,257$1,034$846$689$241
19 years$1,424$1,165$947$765$614$200
20 years$1,339$1,083$869$692$549$166
21 years$1,262$1,009$799$628$491$138
22 years$1,192$942$737$571$440$114
23 years$1,128$881$680$520$395$95
24 years$1,069$825$629$475$355$79
25 years$1,016$774$583$433$319$66
26 years$966$728$540$396$288$55
27 years$921$685$502$363$259$46
28 years$878$645$466$332$234$38
29 years$839$609$434$305$211$32
30 years$802$575$404$280$191$27
31 years$768$544$377$257$173$22
32 years$736$514$352$236$156$18
33 years$706$487$328$217$141$15
34 years$677$462$307$200$128$13
35 years$651$438$287$184$116$11
36 years$626$416$268$169$105$9
37 years$602$395$251$156$95$7
38 years$580$375$235$144$86$6
39 years$559$357$220$133$78$5
40 years$539$339$207$122$71$4
41 years$520$323$194$113$64$4
42 years$502$308$182$104$58$3
43 years$484$293$170$96$53$3
44 years$468$279$160$89$48$2
45 years$453$266$150$82$44$2
46 years$438$254$141$76$40$1
47 years$424$243$133$70$36$1
48 years$410$232$125$65$33$1
49 years$397$221$117$60$30$1
50 years$385$211$110$55$27$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $394,000, adding $2,437 every year, while hoping to spend $28,785 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: 63/24/13 Blend
61$394,000$394,000$394,000$394,000
62$436,702$415,820$409,713$462,716
63$450,618$405,568$392,811$470,190
64$464,990$393,849$374,379$474,818
65$479,832$380,561$354,333$479,164
66$495,161$365,595$332,590$483,199
67$510,995$348,837$309,060$486,897
68$527,352$330,165$283,649$490,226
69$544,251$309,452$256,260$493,155
70$561,712$286,563$226,792$495,648
71$579,755$261,352$195,137$497,671
72$598,402$233,671$161,186$499,186
73$617,675$203,357$124,823$500,152
74$637,599$170,242$85,925$500,527
75$658,198$134,148$44,368$500,266
76$679,499$94,886$18$499,324
77$701,528$52,255$0$497,649
78$724,315$6,047$0$501,753
79$747,890$0$0$505,447
80$772,285$0$0$520,302
81$797,533$0$0$537,331
82$823,672$0$0$554,962
83$850,737$0$0$573,221
84$878,768$0$0$592,134
85$907,809$0$0$611,730
86$937,903$0$0$632,039
87$969,098$0$0$653,094
88$1,001,444$0$0$674,930
89$1,034,994$0$0$697,582
90$1,069,806$0$0$721,090
91$1,105,939$0$0$745,495
92$1,143,459$0$0$770,840
93$1,182,435$0$0$797,175
94$1,222,940$0$0$824,548
95$1,265,053$0$0$853,014
96$1,308,859$0$0$882,631
97$1,354,449$0$0$913,461
98$1,401,919$0$0$945,571
99$1,451,375$0$0$979,033
100$1,502,929$0$0$1,013,924