Can I retire at age 62 with 412,000?

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 $412,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$34,023$33,720$33,424$33,135$32,853$32,151
2 years$16,843$16,529$16,225$15,930$15,645$14,940
3 years$11,117$10,802$10,499$10,207$9,926$9,241
4 years$8,255$7,941$7,640$7,353$7,079$6,420
5 years$6,538$6,226$5,929$5,648$5,381$4,750
6 years$5,393$5,084$4,792$4,517$4,258$3,654
7 years$4,576$4,269$3,982$3,714$3,463$2,887
8 years$3,964$3,660$3,377$3,115$2,873$2,325
9 years$3,488$3,186$2,909$2,653$2,419$1,899
10 years$3,107$2,809$2,536$2,287$2,061$1,568
11 years$2,796$2,500$2,232$1,991$1,773$1,306
12 years$2,537$2,244$1,981$1,746$1,536$1,095
13 years$2,318$2,028$1,770$1,542$1,340$923
14 years$2,130$1,843$1,590$1,368$1,174$782
15 years$1,967$1,684$1,436$1,220$1,034$665
16 years$1,825$1,545$1,302$1,093$914$567
17 years$1,700$1,423$1,185$982$810$485
18 years$1,589$1,315$1,081$885$720$415
19 years$1,490$1,219$990$799$642$356
20 years$1,400$1,132$909$724$574$306
21 years$1,320$1,055$836$657$513$264
22 years$1,246$985$770$597$460$227
23 years$1,179$921$711$544$413$196
24 years$1,118$863$658$496$371$169
25 years$1,062$810$609$453$334$146
26 years$1,010$761$565$414$301$127
27 years$963$716$525$379$271$110
28 years$918$675$488$348$245$95
29 years$877$637$454$319$221$82
30 years$839$601$423$292$200$71
31 years$803$568$394$269$181$62
32 years$769$538$368$247$163$53
33 years$738$509$343$227$148$46
34 years$708$483$321$209$134$40
35 years$681$458$300$192$121$35
36 years$654$435$281$177$110$30
37 years$630$413$263$163$100$26
38 years$606$392$246$150$90$23
39 years$584$373$230$139$82$20
40 years$563$355$216$128$74$17
41 years$543$338$203$118$67$15
42 years$525$322$190$109$61$13
43 years$507$307$178$101$55$11
44 years$490$292$167$93$50$10
45 years$473$279$157$86$46$8
46 years$458$266$148$79$41$7
47 years$443$254$139$73$38$6
48 years$429$242$130$68$34$5
49 years$415$231$122$62$31$5
50 years$402$221$115$58$28$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $412,000, adding $6,622 every year, while hoping to spend $34,924 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: 51/43/6 Blend
61$412,000$412,000$412,000$412,000
62$460,855$439,019$432,633$483,352
63$470,703$423,372$409,967$483,727
64$480,385$405,787$385,371$479,800
65$489,848$386,134$358,745$474,693
66$499,030$364,273$329,980$468,302
67$507,864$340,055$298,968$460,517
68$516,275$313,326$265,592$451,217
69$524,176$283,920$229,730$440,272
70$531,473$251,664$191,257$427,544
71$538,061$216,372$150,042$412,880
72$543,820$177,852$105,945$396,120
73$548,619$135,896$58,824$377,086
74$552,311$90,288$8,528$355,590
75$554,734$40,799$0$331,427
76$555,706$0$0$307,266
77$555,025$0$0$286,811
78$552,467$0$0$284,582
79$547,785$0$0$281,135
80$540,703$0$0$276,312
81$530,915$0$0$269,943
82$518,084$0$0$261,835
83$501,833$0$0$251,778
84$481,749$0$0$239,537
85$457,370$0$0$224,852
86$428,190$0$0$207,438
87$393,644$0$0$186,976
88$353,110$0$0$163,117
89$305,901$0$0$135,471
90$251,255$0$0$103,610
91$188,330$0$0$67,061
92$116,198$0$0$25,300
93$33,831$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0