Can I retire at age 62 with 429,000?

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 $429,000?

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$35,426$35,111$34,803$34,502$34,209$33,154
2 years$17,538$17,211$16,895$16,588$16,290$15,236
3 years$11,576$11,248$10,932$10,628$10,335$9,316
4 years$8,595$8,268$7,956$7,657$7,371$6,394
5 years$6,807$6,482$6,174$5,881$5,603$4,671
6 years$5,616$5,293$4,989$4,703$4,434$3,547
7 years$4,765$4,445$4,146$3,867$3,606$2,765
8 years$4,128$3,811$3,516$3,244$2,991$2,195
9 years$3,632$3,318$3,029$2,763$2,519$1,767
10 years$3,235$2,924$2,640$2,382$2,146$1,438
11 years$2,911$2,603$2,325$2,073$1,846$1,179
12 years$2,641$2,337$2,063$1,818$1,600$973
13 years$2,413$2,112$1,843$1,605$1,395$807
14 years$2,218$1,919$1,656$1,425$1,223$673
15 years$2,049$1,753$1,495$1,271$1,077$562
16 years$1,901$1,609$1,356$1,138$952$471
17 years$1,770$1,482$1,234$1,022$844$396
18 years$1,654$1,369$1,126$921$750$333
19 years$1,551$1,269$1,031$832$669$281
20 years$1,458$1,179$946$754$597$237
21 years$1,374$1,098$870$684$534$201
22 years$1,298$1,025$802$622$479$170
23 years$1,228$959$741$567$430$144
24 years$1,165$898$685$517$387$122
25 years$1,106$843$634$472$348$103
26 years$1,052$792$588$432$313$87
27 years$1,002$746$546$395$282$74
28 years$956$703$508$362$255$63
29 years$913$663$473$332$230$53
30 years$873$626$440$305$208$45
31 years$836$592$410$280$188$39
32 years$801$560$383$257$170$33
33 years$768$530$358$236$154$28
34 years$738$503$334$218$139$24
35 years$709$477$312$200$126$20
36 years$681$452$292$184$114$17
37 years$656$430$273$170$104$15
38 years$631$408$256$157$94$12
39 years$608$388$240$144$85$10
40 years$587$369$225$133$77$9
41 years$566$352$211$123$70$8
42 years$546$335$198$113$64$6
43 years$527$319$186$105$58$5
44 years$510$304$174$97$52$5
45 years$493$290$164$89$48$4
46 years$477$277$154$82$43$3
47 years$461$264$144$76$39$3
48 years$446$252$136$70$36$2
49 years$432$241$128$65$32$2
50 years$419$230$120$60$29$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $429,000, adding $3,038 every year, while hoping to spend $35,434 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: 73/21/6 Blend
61$429,000$429,000$429,000$429,000
62$475,892$453,155$446,505$510,077
63$486,731$437,658$423,762$517,516
64$497,489$420,214$399,069$520,899
65$508,118$400,690$372,323$523,597
66$518,569$378,946$343,418$525,531
67$528,782$354,834$312,242$526,615
68$538,692$328,195$278,676$526,754
69$548,226$298,864$242,600$525,846
70$557,302$266,666$203,884$523,778
71$565,829$231,414$162,396$520,427
72$573,703$192,913$117,995$515,659
73$580,810$150,955$70,538$509,327
74$587,023$105,322$19,871$501,271
75$592,199$55,783$0$491,316
76$596,180$2,093$0$481,460
77$598,790$0$0$470,805
78$599,832$0$0$470,802
79$599,090$0$0$469,835
80$596,321$0$0$467,227
81$591,258$0$0$462,760
82$583,604$0$0$456,196
83$573,027$0$0$447,269
84$559,164$0$0$435,685
85$541,608$0$0$421,117
86$519,912$0$0$403,204
87$493,580$0$0$381,547
88$462,062$0$0$355,703
89$424,750$0$0$325,183
90$380,972$0$0$289,445
91$329,986$0$0$247,892
92$270,969$0$0$199,862
93$203,012$0$0$144,623
94$125,113$0$0$81,367
95$36,163$0$0$9,202
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