Can I retire at age 62 with 376,000?

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 $376,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$31,050$30,773$30,503$30,240$29,983$29,462
2 years$15,371$15,085$14,807$14,538$14,278$13,754
3 years$10,146$9,858$9,581$9,315$9,058$8,549
4 years$7,533$7,247$6,973$6,711$6,460$5,969
5 years$5,966$5,682$5,411$5,155$4,911$4,439
6 years$4,922$4,639$4,373$4,122$3,886$3,434
7 years$4,177$3,896$3,634$3,389$3,160$2,729
8 years$3,618$3,340$3,082$2,843$2,622$2,210
9 years$3,183$2,908$2,654$2,422$2,208$1,816
10 years$2,836$2,563$2,314$2,087$1,881$1,509
11 years$2,552$2,282$2,037$1,817$1,618$1,264
12 years$2,315$2,048$1,808$1,593$1,402$1,067
13 years$2,115$1,851$1,615$1,407$1,223$906
14 years$1,944$1,682$1,451$1,249$1,072$772
15 years$1,795$1,537$1,311$1,114$944$661
16 years$1,666$1,410$1,188$997$834$568
17 years$1,552$1,299$1,081$896$739$489
18 years$1,450$1,200$987$807$658$422
19 years$1,359$1,112$904$730$586$365
20 years$1,278$1,033$829$661$523$316
21 years$1,204$963$763$600$468$274
22 years$1,137$899$703$545$420$238
23 years$1,076$840$649$497$377$207
24 years$1,021$787$600$453$339$180
25 years$969$739$556$414$305$157
26 years$922$694$516$378$275$137
27 years$878$654$479$346$248$119
28 years$838$616$445$317$223$104
29 years$800$581$414$291$202$91
30 years$765$549$386$267$182$79
31 years$733$519$360$245$165$69
32 years$702$491$336$225$149$61
33 years$673$465$313$207$135$53
34 years$646$441$293$191$122$46
35 years$621$418$274$175$111$40
36 years$597$397$256$162$100$35
37 years$575$377$240$149$91$31
38 years$553$358$224$137$82$27
39 years$533$340$210$127$75$24
40 years$514$324$197$117$68$21
41 years$496$308$185$108$61$18
42 years$479$294$173$99$56$16
43 years$462$280$163$92$51$14
44 years$447$267$153$85$46$12
45 years$432$254$143$78$42$11
46 years$418$243$135$72$38$9
47 years$404$231$127$67$34$8
48 years$391$221$119$62$31$7
49 years$379$211$112$57$28$6
50 years$367$202$105$53$26$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $376,000, adding $5,842 every year, while hoping to spend $25,184 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: 67/18/15 Blend
61$376,000$376,000$376,000$376,000
62$420,378$400,450$394,622$446,676
63$436,461$393,276$381,046$457,789
64$453,340$384,907$366,172$466,435
65$471,071$375,258$349,928$475,257
66$489,712$364,237$332,242$484,272
67$509,328$351,750$313,038$493,496
68$529,989$337,695$292,234$502,951
69$551,772$321,966$269,748$512,659
70$574,760$304,450$245,492$522,648
71$599,044$285,027$219,375$532,948
72$624,723$263,570$191,301$543,593
73$651,906$239,946$161,170$554,623
74$680,711$214,014$128,880$566,083
75$711,266$185,623$94,320$578,023
76$743,713$154,617$57,378$590,499
77$778,207$120,828$17,935$603,576
78$814,916$84,081$0$617,327
79$854,026$44,189$0$635,699
80$895,738$956$0$658,233
81$940,275$0$0$682,179
82$987,880$0$0$716,752
83$1,038,818$0$0$753,964
84$1,093,383$0$0$793,841
85$1,151,895$0$0$836,619
86$1,214,705$0$0$882,557
87$1,282,199$0$0$931,940
88$1,354,800$0$0$985,079
89$1,432,975$0$0$1,042,319
90$1,517,232$0$0$1,104,035
91$1,608,134$0$0$1,170,641
92$1,706,296$0$0$1,242,592
93$1,812,396$0$0$1,320,386
94$1,927,178$0$0$1,404,575
95$2,051,460$0$0$1,495,759
96$2,186,141$0$0$1,594,604
97$2,332,212$0$0$1,701,839
98$2,490,758$0$0$1,818,267
99$2,662,978$0$0$1,944,769
100$2,850,185$0$0$2,082,318