Can I retire at age 62 with 434,000?

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 $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%16.3%
1 years$35,839$35,520$35,209$34,905$34,608$33,716
2 years$17,742$17,412$17,092$16,781$16,480$15,588
3 years$11,711$11,379$11,059$10,752$10,456$9,591
4 years$8,695$8,365$8,048$7,746$7,457$6,626
5 years$6,887$6,558$6,246$5,950$5,669$4,874
6 years$5,681$5,355$5,048$4,758$4,485$3,727
7 years$4,821$4,497$4,195$3,912$3,648$2,927
8 years$4,176$3,855$3,557$3,282$3,026$2,342
9 years$3,674$3,356$3,064$2,795$2,549$1,900
10 years$3,273$2,959$2,671$2,409$2,171$1,558
11 years$2,945$2,634$2,352$2,097$1,868$1,289
12 years$2,672$2,364$2,087$1,839$1,618$1,073
13 years$2,441$2,136$1,865$1,624$1,411$898
14 years$2,244$1,942$1,675$1,441$1,237$755
15 years$2,072$1,774$1,513$1,286$1,089$637
16 years$1,923$1,628$1,371$1,151$963$539
17 years$1,791$1,499$1,248$1,034$854$457
18 years$1,674$1,385$1,139$932$759$388
19 years$1,569$1,284$1,043$842$676$331
20 years$1,475$1,193$957$763$604$282
21 years$1,390$1,111$880$692$541$241
22 years$1,313$1,037$811$629$485$206
23 years$1,242$970$749$573$435$176
24 years$1,178$909$693$523$391$151
25 years$1,119$853$642$477$352$129
26 years$1,064$802$595$437$317$111
27 years$1,014$754$553$400$286$95
28 years$967$711$514$366$258$81
29 years$924$671$478$336$233$70
30 years$883$633$445$308$210$60
31 years$846$599$415$283$190$51
32 years$810$566$387$260$172$44
33 years$777$536$362$239$156$38
34 years$746$508$338$220$141$33
35 years$717$482$316$203$128$28
36 years$689$458$296$187$116$24
37 years$663$435$277$172$105$21
38 years$639$413$259$158$95$18
39 years$615$393$243$146$86$15
40 years$593$374$228$135$78$13
41 years$572$356$213$124$71$11
42 years$553$339$200$115$64$10
43 years$534$323$188$106$58$8
44 years$516$308$176$98$53$7
45 years$499$293$165$90$48$6
46 years$482$280$155$83$44$5
47 years$467$267$146$77$40$5
48 years$452$255$137$71$36$4
49 years$437$244$129$66$33$3
50 years$424$233$121$61$30$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $434,000, adding $2,448 every year, while hoping to spend $22,440 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: 48/36/16 Blend
61$434,000$434,000$434,000$434,000
62$480,793$457,791$451,064$501,607
63$505,958$456,347$442,299$514,823
64$532,938$454,080$432,488$526,670
65$561,893$450,926$421,572$539,046
66$593,002$446,817$409,491$552,010
67$626,459$441,682$396,179$565,626
68$662,477$435,443$381,570$579,967
69$701,291$428,021$365,594$595,116
70$743,157$419,329$348,176$611,165
71$788,360$409,276$329,240$628,215
72$837,209$397,767$308,706$646,382
73$890,046$384,700$286,490$665,794
74$947,248$369,967$262,505$686,595
75$1,009,226$353,454$236,657$708,945
76$1,076,435$335,041$208,853$733,023
77$1,149,373$314,600$178,992$759,029
78$1,228,590$291,997$146,969$787,184
79$1,314,690$267,088$112,676$817,736
80$1,408,337$239,724$75,999$850,961
81$1,510,261$209,744$36,819$887,166
82$1,621,267$176,981$0$926,693
83$1,742,240$141,257$0$970,773
84$1,874,154$102,384$0$1,025,739
85$2,018,080$60,163$0$1,085,792
86$2,175,199$14,386$0$1,151,475
87$2,346,810$0$0$1,223,393
88$2,534,341$0$0$1,316,145
89$2,739,367$0$0$1,423,826
90$2,963,622$0$0$1,541,655
91$3,209,013$0$0$1,670,638
92$3,477,642$0$0$1,811,888
93$3,771,822$0$0$1,966,626
94$4,094,101$0$0$2,136,201
95$4,447,286$0$0$2,322,095
96$4,834,467$0$0$2,525,943
97$5,259,047$0$0$2,749,543
98$5,724,776$0$0$2,994,877
99$6,235,781$0$0$3,264,130
100$6,796,613$0$0$3,559,706