Can I retire at age 62 with 421,000?

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 $421,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$34,766$34,456$34,154$33,859$33,571$32,536
2 years$17,211$16,890$16,580$16,278$15,986$14,952
3 years$11,360$11,038$10,728$10,430$10,142$9,142
4 years$8,435$8,114$7,807$7,514$7,234$6,275
5 years$6,681$6,362$6,059$5,771$5,499$4,584
6 years$5,511$5,195$4,896$4,616$4,351$3,481
7 years$4,676$4,362$4,069$3,795$3,539$2,713
8 years$4,051$3,739$3,451$3,183$2,936$2,154
9 years$3,564$3,256$2,972$2,711$2,472$1,734
10 years$3,175$2,870$2,591$2,337$2,106$1,411
11 years$2,857$2,555$2,281$2,034$1,812$1,157
12 years$2,592$2,293$2,025$1,784$1,570$955
13 years$2,368$2,072$1,809$1,575$1,369$792
14 years$2,176$1,884$1,625$1,398$1,200$660
15 years$2,010$1,721$1,467$1,247$1,057$552
16 years$1,865$1,579$1,330$1,117$934$462
17 years$1,737$1,454$1,211$1,003$828$389
18 years$1,624$1,344$1,105$904$736$327
19 years$1,522$1,245$1,012$817$656$276
20 years$1,431$1,157$928$740$586$233
21 years$1,348$1,078$854$672$525$197
22 years$1,274$1,006$787$611$470$166
23 years$1,205$941$727$556$422$141
24 years$1,143$882$672$507$379$119
25 years$1,085$827$623$463$341$101
26 years$1,033$778$577$423$307$86
27 years$984$732$536$388$277$73
28 years$938$690$498$355$250$62
29 years$896$651$464$326$226$52
30 years$857$614$432$299$204$45
31 years$820$581$403$275$185$38
32 years$786$550$376$252$167$32
33 years$754$520$351$232$151$27
34 years$724$493$328$213$137$23
35 years$695$468$306$196$124$20
36 years$669$444$287$181$112$17
37 years$643$422$268$167$102$14
38 years$620$401$251$154$92$12
39 years$597$381$235$142$84$10
40 years$576$363$221$131$76$9
41 years$555$345$207$121$69$7
42 years$536$329$194$111$62$6
43 years$518$313$182$103$57$5
44 years$500$299$171$95$51$5
45 years$484$285$161$88$47$4
46 years$468$272$151$81$42$3
47 years$453$259$142$75$39$3
48 years$438$247$133$69$35$2
49 years$424$236$125$64$32$2
50 years$411$226$118$59$29$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $421,000, adding $4,364 every year, while hoping to spend $32,332 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: 38/46/16 Blend
61$421,000$421,000$421,000$421,000
62$468,443$446,130$439,605$483,834
63$481,824$433,590$419,931$482,726
64$495,485$419,351$398,514$478,107
65$509,422$403,297$375,262$472,426
66$523,628$385,303$350,077$465,604
67$538,093$365,238$322,860$457,558
68$552,807$342,964$293,505$448,199
69$567,757$318,332$261,900$437,432
70$582,926$291,188$227,932$425,156
71$598,296$261,368$191,479$411,265
72$613,845$228,698$152,417$395,645
73$629,547$192,994$110,613$378,175
74$645,374$154,063$65,931$358,726
75$661,290$111,701$18,228$337,163
76$677,258$65,690$0$313,340
77$693,233$15,804$0$292,682
78$709,164$0$0$273,130
79$724,995$0$0$270,756
80$740,660$0$0$276,282
81$756,088$0$0$281,675
82$771,195$0$0$286,901
83$785,890$0$0$291,919
84$800,069$0$0$296,686
85$813,616$0$0$301,150
86$826,401$0$0$305,258
87$838,278$0$0$308,946
88$849,085$0$0$312,146
89$858,642$0$0$314,781
90$866,747$0$0$316,764
91$873,175$0$0$318,001
92$877,676$0$0$318,384
93$879,973$0$0$317,798
94$879,756$0$0$316,110
95$876,683$0$0$313,176
96$870,373$0$0$308,834
97$860,404$0$0$302,907
98$846,307$0$0$295,196
99$827,564$0$0$285,482
100$803,600$0$0$273,523