Can I retire at age 62 with 540,000?

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 $540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$44,593$44,195$43,808$43,430$43,060$42,364
2 years$22,076$21,664$21,266$20,880$20,505$19,806
3 years$14,571$14,158$13,761$13,378$13,009$12,328
4 years$10,819$10,408$10,014$9,638$9,278$8,621
5 years$8,569$8,160$7,771$7,403$7,053$6,422
6 years$7,069$6,663$6,280$5,920$5,581$4,976
7 years$5,998$5,596$5,219$4,867$4,539$3,960
8 years$5,195$4,796$4,426$4,083$3,765$3,213
9 years$4,571$4,176$3,812$3,478$3,171$2,645
10 years$4,072$3,681$3,324$2,998$2,702$2,202
11 years$3,665$3,277$2,926$2,609$2,324$1,849
12 years$3,325$2,941$2,597$2,289$2,014$1,563
13 years$3,038$2,658$2,320$2,020$1,756$1,329
14 years$2,792$2,416$2,085$1,794$1,539$1,136
15 years$2,579$2,207$1,882$1,599$1,355$974
16 years$2,392$2,025$1,706$1,432$1,198$838
17 years$2,228$1,865$1,553$1,287$1,062$724
18 years$2,083$1,723$1,417$1,160$944$626
19 years$1,952$1,597$1,298$1,048$842$542
20 years$1,835$1,484$1,191$949$752$471
21 years$1,730$1,382$1,095$861$673$409
22 years$1,633$1,290$1,010$783$603$356
23 years$1,546$1,207$932$713$541$311
24 years$1,466$1,131$862$650$487$271
25 years$1,392$1,061$798$594$438$237
26 years$1,324$997$741$543$394$207
27 years$1,262$939$688$497$356$181
28 years$1,204$884$639$456$321$158
29 years$1,150$834$595$418$290$138
30 years$1,099$788$554$383$262$121
31 years$1,052$745$517$352$237$106
32 years$1,008$705$482$324$214$93
33 years$967$668$450$298$194$81
34 years$928$633$420$274$175$71
35 years$892$600$393$252$159$63
36 years$858$570$368$232$144$55
37 years$825$541$344$214$130$48
38 years$795$514$322$197$118$42
39 years$766$489$302$182$107$37
40 years$738$465$283$168$97$32
41 years$712$443$265$155$88$28
42 years$687$422$249$143$80$25
43 years$664$402$234$132$73$22
44 years$642$383$219$122$66$19
45 years$620$365$206$112$60$17
46 years$600$348$193$104$54$15
47 years$581$332$182$96$49$13
48 years$562$317$171$89$45$11
49 years$544$303$160$82$41$10
50 years$527$289$151$76$37$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $540,000, adding $6,042 every year, while hoping to spend $27,153 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: 49/32/19 Blend
61$540,000$540,000$540,000$540,000
62$601,312$572,692$564,322$627,302
63$633,756$571,864$554,337$645,112
64$668,598$570,084$543,106$661,189
65$706,056$567,279$530,561$678,078
66$746,366$563,368$516,627$695,865
67$789,789$558,267$501,228$714,648
68$836,610$551,885$484,282$734,536
69$887,145$544,128$465,706$755,648
70$941,738$534,895$445,412$778,122
71$1,000,769$524,078$423,307$802,108
72$1,064,655$511,566$399,295$827,773
73$1,133,854$497,237$373,276$855,307
74$1,208,871$480,965$345,144$884,917
75$1,290,259$462,615$314,789$916,837
76$1,378,629$442,046$282,098$951,326
77$1,474,650$419,107$246,949$988,672
78$1,579,060$393,640$209,218$1,029,194
79$1,692,671$365,475$168,773$1,073,250
80$1,816,376$334,436$125,480$1,121,235
81$1,951,156$300,333$79,193$1,173,589
82$2,098,094$262,970$29,766$1,230,799
83$2,258,379$222,134$0$1,293,407
84$2,433,321$177,606$0$1,366,673
85$2,624,361$129,151$0$1,453,349
86$2,833,087$76,520$0$1,548,166
87$3,061,246$19,454$0$1,651,980
88$3,310,762$0$0$1,765,738
89$3,583,752$0$0$1,905,387
90$3,882,548$0$0$2,065,794
91$4,209,720$0$0$2,241,493
92$4,568,094$0$0$2,434,010
93$4,960,785$0$0$2,645,026
94$5,391,223$0$0$2,876,393
95$5,863,186$0$0$3,130,148
96$6,380,834$0$0$3,408,538
97$6,948,749$0$0$3,714,036
98$7,571,980$0$0$4,049,367
99$8,256,085$0$0$4,417,530
100$9,007,190$0$0$4,821,833