Can I retire at age 62 with 417,000?

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 $417,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$34,435$34,129$33,829$33,537$33,252$32,919
2 years$17,047$16,730$16,422$16,124$15,834$15,498
3 years$11,252$10,933$10,626$10,331$10,046$9,718
4 years$8,355$8,037$7,733$7,443$7,165$6,847
5 years$6,617$6,301$6,001$5,717$5,447$5,141
6 years$5,459$5,145$4,850$4,572$4,310$4,016
7 years$4,632$4,321$4,030$3,759$3,505$3,223
8 years$4,012$3,704$3,418$3,153$2,908$2,638
9 years$3,530$3,225$2,944$2,686$2,449$2,190
10 years$3,145$2,843$2,567$2,315$2,086$1,840
11 years$2,830$2,531$2,260$2,015$1,794$1,559
12 years$2,567$2,271$2,005$1,767$1,555$1,331
13 years$2,346$2,053$1,792$1,560$1,356$1,143
14 years$2,156$1,866$1,610$1,385$1,189$987
15 years$1,991$1,704$1,453$1,235$1,047$855
16 years$1,847$1,564$1,318$1,106$925$743
17 years$1,721$1,440$1,199$994$820$648
18 years$1,608$1,331$1,095$896$729$567
19 years$1,508$1,233$1,002$809$650$497
20 years$1,417$1,146$920$733$581$436
21 years$1,336$1,068$846$665$520$384
22 years$1,261$997$780$605$466$338
23 years$1,194$932$720$551$418$298
24 years$1,132$873$666$502$376$263
25 years$1,075$819$617$459$338$232
26 years$1,023$770$572$419$305$205
27 years$974$725$531$384$275$182
28 years$929$683$494$352$248$161
29 years$888$644$459$323$224$142
30 years$849$609$428$296$202$126
31 years$813$575$399$272$183$112
32 years$779$544$372$250$165$99
33 years$747$515$348$230$150$88
34 years$717$489$325$211$135$78
35 years$689$463$304$195$123$69
36 years$662$440$284$179$111$62
37 years$637$418$266$165$101$55
38 years$614$397$249$152$91$49
39 years$591$377$233$140$83$43
40 years$570$359$219$129$75$38
41 years$550$342$205$119$68$34
42 years$531$326$192$110$62$30
43 years$513$310$180$102$56$27
44 years$495$296$169$94$51$24
45 years$479$282$159$87$46$21
46 years$463$269$149$80$42$19
47 years$448$257$140$74$38$17
48 years$434$245$132$68$35$15
49 years$420$234$124$63$31$13
50 years$407$224$117$58$29$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $417,000, adding $5,003 every year, while hoping to spend $34,814 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: 53/19/28 Blend
61$417,000$417,000$417,000$417,000
62$464,695$442,594$436,130$485,455
63$475,052$427,239$413,699$485,023
64$485,298$409,965$389,349$480,603
65$495,386$390,641$362,980$475,100
66$505,262$369,129$334,486$468,426
67$514,865$345,282$303,757$460,482
68$524,126$318,945$270,678$451,165
69$532,969$289,956$235,128$440,364
70$541,308$258,140$196,981$427,957
71$549,049$223,316$156,107$413,814
72$556,083$185,291$112,368$397,796
73$562,293$143,859$65,622$379,750
74$567,545$98,806$15,718$359,512
75$571,691$49,904$0$336,907
76$574,568$0$0$322,958
77$575,991$0$0$312,629
78$575,759$0$0$311,744
79$573,645$0$0$309,737
80$569,399$0$0$306,459
81$562,742$0$0$301,749
82$553,368$0$0$295,426
83$540,934$0$0$287,289
84$525,062$0$0$277,116
85$505,333$0$0$264,663
86$481,284$0$0$249,656
87$452,400$0$0$231,796
88$418,114$0$0$210,749
89$377,797$0$0$186,148
90$330,754$0$0$157,585
91$276,218$0$0$124,611
92$213,338$0$0$86,729
93$141,176$0$0$43,389
94$58,695$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