Can I retire at age 62 with 430,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $430,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$35,509$35,193$34,884$34,583$34,289$33,392
2 years$17,579$17,251$16,934$16,626$16,328$15,431
3 years$11,603$11,274$10,957$10,653$10,359$9,489
4 years$8,615$8,288$7,974$7,675$7,388$6,553
5 years$6,823$6,498$6,188$5,895$5,616$4,817
6 years$5,629$5,306$5,001$4,714$4,444$3,682
7 years$4,776$4,456$4,156$3,876$3,614$2,890
8 years$4,137$3,819$3,525$3,251$2,998$2,311
9 years$3,640$3,325$3,036$2,769$2,525$1,874
10 years$3,243$2,931$2,647$2,387$2,151$1,536
11 years$2,918$2,610$2,330$2,078$1,850$1,269
12 years$2,648$2,342$2,068$1,822$1,603$1,056
13 years$2,419$2,117$1,847$1,609$1,398$883
14 years$2,223$1,924$1,660$1,428$1,226$742
15 years$2,053$1,758$1,499$1,274$1,079$625
16 years$1,905$1,613$1,359$1,140$954$529
17 years$1,774$1,485$1,236$1,025$846$448
18 years$1,658$1,372$1,129$923$752$381
19 years$1,555$1,272$1,033$834$670$324
20 years$1,461$1,182$948$756$599$276
21 years$1,377$1,101$872$686$536$235
22 years$1,301$1,028$804$624$480$201
23 years$1,231$961$742$568$431$172
24 years$1,167$900$686$518$387$147
25 years$1,109$845$636$473$349$126
26 years$1,055$794$590$433$314$108
27 years$1,005$747$548$396$283$92
28 years$958$704$509$363$255$79
29 years$915$664$474$333$231$68
30 years$875$627$441$305$208$58
31 years$838$593$411$280$188$50
32 years$803$561$384$258$170$43
33 years$770$532$358$237$154$37
34 years$739$504$335$218$140$32
35 years$710$478$313$201$127$27
36 years$683$454$293$185$115$23
37 years$657$431$274$170$104$20
38 years$633$409$257$157$94$17
39 years$610$389$240$145$85$15
40 years$588$370$225$133$77$13
41 years$567$353$211$123$70$11
42 years$547$336$198$114$64$9
43 years$529$320$186$105$58$8
44 years$511$305$175$97$53$7
45 years$494$291$164$89$48$6
46 years$478$277$154$83$43$5
47 years$462$265$145$76$39$4
48 years$447$253$136$71$36$4
49 years$433$241$128$65$32$3
50 years$420$231$120$60$29$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $430,000, adding $2,209 every year, while hoping to spend $30,485 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: 70/14/16 Blend
61$430,000$430,000$430,000$430,000
62$476,139$453,349$446,684$507,545
63$492,269$443,127$429,212$518,501
64$509,023$431,383$410,133$526,630
65$526,432$418,009$389,361$534,749
66$544,529$402,893$366,806$542,850
67$563,351$385,915$342,374$550,930
68$582,936$366,948$315,967$558,983
69$603,326$345,859$287,482$567,004
70$624,565$322,505$256,812$574,989
71$646,701$296,738$223,846$582,935
72$669,785$268,399$188,465$590,840
73$693,873$237,321$150,549$598,700
74$719,025$203,326$109,969$606,516
75$745,305$166,229$66,592$614,288
76$772,784$125,831$20,280$622,018
77$801,536$81,925$0$629,709
78$831,643$34,290$0$642,344
79$863,195$0$0$658,972
80$896,286$0$0$678,833
81$931,022$0$0$705,232
82$967,515$0$0$732,975
83$1,005,889$0$0$762,155
84$1,046,277$0$0$792,876
85$1,088,825$0$0$825,250
86$1,133,692$0$0$859,398
87$1,181,049$0$0$895,453
88$1,231,087$0$0$933,560
89$1,284,009$0$0$973,877
90$1,340,042$0$0$1,016,578
91$1,399,429$0$0$1,061,849
92$1,462,439$0$0$1,109,898
93$1,529,364$0$0$1,160,950
94$1,600,525$0$0$1,215,252
95$1,676,272$0$0$1,273,072
96$1,756,989$0$0$1,334,707
97$1,843,095$0$0$1,400,480
98$1,935,052$0$0$1,470,745
99$2,033,363$0$0$1,545,890
100$2,138,581$0$0$1,626,342