Can I retire at age 62 with 434,000?

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 $434,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$35,839$35,520$35,209$34,905$34,608$33,635
2 years$17,742$17,412$17,092$16,781$16,480$15,507
3 years$11,711$11,379$11,059$10,752$10,456$9,513
4 years$8,695$8,365$8,048$7,746$7,457$6,553
5 years$6,887$6,558$6,246$5,950$5,669$4,805
6 years$5,681$5,355$5,048$4,758$4,485$3,662
7 years$4,821$4,497$4,195$3,912$3,648$2,866
8 years$4,176$3,855$3,557$3,282$3,026$2,285
9 years$3,674$3,356$3,064$2,795$2,549$1,847
10 years$3,273$2,959$2,671$2,409$2,171$1,509
11 years$2,945$2,634$2,352$2,097$1,868$1,243
12 years$2,672$2,364$2,087$1,839$1,618$1,031
13 years$2,441$2,136$1,865$1,624$1,411$859
14 years$2,244$1,942$1,675$1,441$1,237$720
15 years$2,072$1,774$1,513$1,286$1,089$604
16 years$1,923$1,628$1,371$1,151$963$509
17 years$1,791$1,499$1,248$1,034$854$430
18 years$1,674$1,385$1,139$932$759$364
19 years$1,569$1,284$1,043$842$676$308
20 years$1,475$1,193$957$763$604$262
21 years$1,390$1,111$880$692$541$222
22 years$1,313$1,037$811$629$485$189
23 years$1,242$970$749$573$435$161
24 years$1,178$909$693$523$391$137
25 years$1,119$853$642$477$352$117
26 years$1,064$802$595$437$317$100
27 years$1,014$754$553$400$286$85
28 years$967$711$514$366$258$73
29 years$924$671$478$336$233$62
30 years$883$633$445$308$210$53
31 years$846$599$415$283$190$45
32 years$810$566$387$260$172$39
33 years$777$536$362$239$156$33
34 years$746$508$338$220$141$28
35 years$717$482$316$203$128$24
36 years$689$458$296$187$116$21
37 years$663$435$277$172$105$18
38 years$639$413$259$158$95$15
39 years$615$393$243$146$86$13
40 years$593$374$228$135$78$11
41 years$572$356$213$124$71$9
42 years$553$339$200$115$64$8
43 years$534$323$188$106$58$7
44 years$516$308$176$98$53$6
45 years$499$293$165$90$48$5
46 years$482$280$155$83$44$4
47 years$467$267$146$77$40$4
48 years$452$255$137$71$36$3
49 years$437$244$129$66$33$3
50 years$424$233$121$61$30$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $434,000, adding $6,098 every year, while hoping to spend $30,083 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: 53/40/7 Blend
61$434,000$434,000$434,000$434,000
62$484,558$461,556$454,829$509,106
63$501,975$452,164$438,058$517,036
64$520,160$441,304$419,716$521,850
65$539,160$428,872$399,721$526,363
66$559,025$414,757$377,982$530,551
67$579,810$398,845$354,409$534,393
68$601,574$381,011$328,904$537,863
69$624,380$361,126$301,368$540,936
70$648,297$339,052$271,695$543,589
71$673,402$314,644$239,775$545,796
72$699,775$287,748$205,494$547,532
73$727,506$258,200$168,731$548,772
74$756,689$225,831$129,362$549,491
75$787,432$190,457$87,256$549,665
76$819,847$151,886$42,276$549,271
77$854,060$109,917$0$548,285
78$890,206$64,335$0$547,115
79$928,434$14,914$0$548,711
80$968,904$0$0$549,907
81$1,011,795$0$0$567,682
82$1,057,298$0$0$593,526
83$1,105,625$0$0$620,996
84$1,157,006$0$0$650,226
85$1,211,695$0$0$681,363
86$1,269,967$0$0$714,567
87$1,332,125$0$0$750,016
88$1,398,501$0$0$787,900
89$1,469,458$0$0$828,433
90$1,545,394$0$0$871,845
91$1,626,747$0$0$918,391
92$1,713,994$0$0$968,349
93$1,807,663$0$0$1,022,026
94$1,908,329$0$0$1,079,758
95$2,016,626$0$0$1,141,913
96$2,133,249$0$0$1,208,897
97$2,258,962$0$0$1,281,153
98$2,394,604$0$0$1,359,172
99$2,541,095$0$0$1,443,491
100$2,699,450$0$0$1,534,698