Can I retire at age 62 with 370,000?

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 $370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$30,554$30,282$30,017$29,757$29,504$28,956
2 years$15,126$14,844$14,571$14,306$14,050$13,499
3 years$9,984$9,701$9,428$9,166$8,914$8,378
4 years$7,413$7,131$6,862$6,604$6,357$5,841
5 years$5,871$5,591$5,325$5,072$4,833$4,337
6 years$4,844$4,565$4,303$4,056$3,824$3,350
7 years$4,110$3,834$3,576$3,335$3,110$2,657
8 years$3,560$3,286$3,033$2,798$2,580$2,148
9 years$3,132$2,861$2,612$2,383$2,173$1,762
10 years$2,790$2,522$2,277$2,054$1,851$1,461
11 years$2,511$2,245$2,005$1,788$1,592$1,222
12 years$2,278$2,015$1,779$1,568$1,380$1,030
13 years$2,081$1,821$1,590$1,384$1,203$872
14 years$1,913$1,655$1,428$1,229$1,055$742
15 years$1,767$1,512$1,290$1,096$929$634
16 years$1,639$1,388$1,169$981$821$543
17 years$1,527$1,278$1,064$882$728$467
18 years$1,427$1,181$971$795$647$402
19 years$1,338$1,094$889$718$577$347
20 years$1,258$1,017$816$650$515$300
21 years$1,185$947$751$590$461$260
22 years$1,119$884$692$537$413$225
23 years$1,059$827$639$489$371$195
24 years$1,004$775$591$446$333$169
25 years$954$727$547$407$300$147
26 years$907$683$507$372$270$128
27 years$864$643$471$341$244$111
28 years$825$606$438$312$220$97
29 years$788$572$408$286$199$84
30 years$753$540$380$263$179$74
31 years$721$510$354$241$162$64
32 years$691$483$330$222$147$56
33 years$663$457$308$204$133$49
34 years$636$433$288$188$120$42
35 years$611$411$269$173$109$37
36 years$588$390$252$159$99$32
37 years$565$371$236$147$89$28
38 years$544$352$221$135$81$25
39 years$525$335$207$125$73$21
40 years$506$319$194$115$67$19
41 years$488$303$182$106$60$16
42 years$471$289$171$98$55$14
43 years$455$275$160$90$50$12
44 years$440$262$150$83$45$11
45 years$425$250$141$77$41$10
46 years$411$239$133$71$37$8
47 years$398$228$124$66$34$7
48 years$385$217$117$61$31$6
49 years$373$208$110$56$28$6
50 years$361$198$103$52$25$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $370,000, adding $5,863 every year, while hoping to spend $21,517 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: 55/32/13 Blend
61$370,000$370,000$370,000$370,000
62$413,788$394,178$388,443$434,843
63$433,100$390,598$378,562$446,223
64$453,661$386,123$367,628$455,768
65$475,576$380,684$355,585$465,664
66$498,958$374,211$342,371$475,946
67$523,934$366,630$327,922$486,658
68$550,641$357,860$312,174$497,848
69$579,230$347,819$295,055$509,569
70$609,867$336,417$276,495$521,883
71$642,733$323,561$256,416$534,858
72$678,026$309,150$234,741$548,570
73$715,966$293,080$211,386$563,106
74$756,793$275,239$186,266$578,562
75$800,769$255,510$159,289$595,046
76$848,185$233,767$130,363$612,680
77$899,358$209,880$99,388$631,598
78$954,638$183,709$66,263$651,952
79$1,014,407$155,107$30,879$673,910
80$1,079,089$123,919$0$697,662
81$1,149,146$89,981$0$724,373
82$1,225,089$53,120$0$757,955
83$1,307,478$13,153$0$794,399
84$1,396,930$0$0$834,014
85$1,494,122$0$0$887,746
86$1,599,802$0$0$951,236
87$1,714,789$0$0$1,020,350
88$1,839,986$0$0$1,095,635
89$1,976,388$0$0$1,177,691
90$2,125,088$0$0$1,267,182
91$2,287,289$0$0$1,364,835
92$2,464,316$0$0$1,471,454
93$2,657,627$0$0$1,587,922
94$2,868,827$0$0$1,715,210
95$3,099,683$0$0$1,854,389
96$3,352,141$0$0$2,006,637
97$3,628,343$0$0$2,173,253
98$3,930,647$0$0$2,355,664
99$4,261,651$0$0$2,555,445
100$4,624,216$0$0$2,774,327