Can I retire at age 62 with 417,000?

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 $417,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$34,435$34,129$33,829$33,537$33,252$32,581
2 years$17,047$16,730$16,422$16,124$15,834$15,161
3 years$11,252$10,933$10,626$10,331$10,046$9,391
4 years$8,355$8,037$7,733$7,443$7,165$6,534
5 years$6,617$6,301$6,001$5,717$5,447$4,842
6 years$5,459$5,145$4,850$4,572$4,310$3,731
7 years$4,632$4,321$4,030$3,759$3,505$2,953
8 years$4,012$3,704$3,418$3,153$2,908$2,382
9 years$3,530$3,225$2,944$2,686$2,449$1,949
10 years$3,145$2,843$2,567$2,315$2,086$1,613
11 years$2,830$2,531$2,260$2,015$1,794$1,345
12 years$2,567$2,271$2,005$1,767$1,555$1,130
13 years$2,346$2,053$1,792$1,560$1,356$955
14 years$2,156$1,866$1,610$1,385$1,189$810
15 years$1,991$1,704$1,453$1,235$1,047$690
16 years$1,847$1,564$1,318$1,106$925$590
17 years$1,721$1,440$1,199$994$820$506
18 years$1,608$1,331$1,095$896$729$434
19 years$1,508$1,233$1,002$809$650$373
20 years$1,417$1,146$920$733$581$322
21 years$1,336$1,068$846$665$520$278
22 years$1,261$997$780$605$466$240
23 years$1,194$932$720$551$418$207
24 years$1,132$873$666$502$376$180
25 years$1,075$819$617$459$338$156
26 years$1,023$770$572$419$305$135
27 years$974$725$531$384$275$117
28 years$929$683$494$352$248$101
29 years$888$644$459$323$224$88
30 years$849$609$428$296$202$76
31 years$813$575$399$272$183$66
32 years$779$544$372$250$165$58
33 years$747$515$348$230$150$50
34 years$717$489$325$211$135$44
35 years$689$463$304$195$123$38
36 years$662$440$284$179$111$33
37 years$637$418$266$165$101$29
38 years$614$397$249$152$91$25
39 years$591$377$233$140$83$22
40 years$570$359$219$129$75$19
41 years$550$342$205$119$68$16
42 years$531$326$192$110$62$14
43 years$513$310$180$102$56$12
44 years$495$296$169$94$51$11
45 years$479$282$159$87$46$9
46 years$463$269$149$80$42$8
47 years$448$257$140$74$38$7
48 years$434$245$132$68$35$6
49 years$420$234$124$63$31$5
50 years$407$224$117$58$29$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $417,000, adding $3,690 every year, while hoping to spend $28,355 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: 36/45/19 Blend
61$417,000$417,000$417,000$417,000
62$463,340$441,239$434,776$477,230
63$480,431$432,690$419,171$479,124
64$498,316$422,772$402,094$478,246
65$517,044$411,388$383,464$476,707
66$536,671$398,435$363,198$474,465
67$557,257$383,804$341,211$471,476
68$578,867$367,380$317,412$467,693
69$601,572$349,042$291,705$463,068
70$625,447$328,660$263,993$457,552
71$650,578$306,099$234,171$451,093
72$677,053$281,215$202,132$443,638
73$704,973$253,855$167,764$435,132
74$734,445$223,858$130,949$425,519
75$765,586$191,055$91,563$414,742
76$798,525$155,266$49,480$402,741
77$833,401$116,300$4,564$389,456
78$870,367$73,959$0$374,826
79$909,591$28,029$0$367,581
80$951,255$0$0$360,425
81$995,558$0$0$363,150
82$1,042,719$0$0$380,858
83$1,092,978$0$0$399,763
84$1,146,596$0$0$419,968
85$1,203,860$0$0$441,586
86$1,265,085$0$0$464,741
87$1,330,616$0$0$489,569
88$1,400,830$0$0$516,217
89$1,476,142$0$0$544,850
90$1,557,008$0$0$575,647
91$1,643,926$0$0$608,805
92$1,737,446$0$0$644,540
93$1,838,168$0$0$683,089
94$1,946,755$0$0$724,714
95$2,063,931$0$0$769,700
96$2,190,496$0$0$818,365
97$2,327,326$0$0$871,052
98$2,475,384$0$0$928,144
99$2,635,731$0$0$990,059
100$2,809,531$0$0$1,057,258