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%15.3%
1 years$44,593$44,195$43,808$43,430$43,060$42,122
2 years$22,076$21,664$21,266$20,880$20,505$19,564
3 years$14,571$14,158$13,761$13,378$13,009$12,096
4 years$10,819$10,408$10,014$9,638$9,278$8,399
5 years$8,569$8,160$7,771$7,403$7,053$6,210
6 years$7,069$6,663$6,280$5,920$5,581$4,776
7 years$5,998$5,596$5,219$4,867$4,539$3,771
8 years$5,195$4,796$4,426$4,083$3,765$3,035
9 years$4,571$4,176$3,812$3,478$3,171$2,477
10 years$4,072$3,681$3,324$2,998$2,702$2,044
11 years$3,665$3,277$2,926$2,609$2,324$1,701
12 years$3,325$2,941$2,597$2,289$2,014$1,426
13 years$3,038$2,658$2,320$2,020$1,756$1,201
14 years$2,792$2,416$2,085$1,794$1,539$1,017
15 years$2,579$2,207$1,882$1,599$1,355$864
16 years$2,392$2,025$1,706$1,432$1,198$736
17 years$2,228$1,865$1,553$1,287$1,062$629
18 years$2,083$1,723$1,417$1,160$944$538
19 years$1,952$1,597$1,298$1,048$842$462
20 years$1,835$1,484$1,191$949$752$397
21 years$1,730$1,382$1,095$861$673$341
22 years$1,633$1,290$1,010$783$603$294
23 years$1,546$1,207$932$713$541$253
24 years$1,466$1,131$862$650$487$219
25 years$1,392$1,061$798$594$438$189
26 years$1,324$997$741$543$394$163
27 years$1,262$939$688$497$356$141
28 years$1,204$884$639$456$321$122
29 years$1,150$834$595$418$290$105
30 years$1,099$788$554$383$262$91
31 years$1,052$745$517$352$237$79
32 years$1,008$705$482$324$214$68
33 years$967$668$450$298$194$59
34 years$928$633$420$274$175$51
35 years$892$600$393$252$159$44
36 years$858$570$368$232$144$39
37 years$825$541$344$214$130$33
38 years$795$514$322$197$118$29
39 years$766$489$302$182$107$25
40 years$738$465$283$168$97$22
41 years$712$443$265$155$88$19
42 years$687$422$249$143$80$16
43 years$664$402$234$132$73$14
44 years$642$383$219$122$66$12
45 years$620$365$206$112$60$11
46 years$600$348$193$104$54$9
47 years$581$332$182$96$49$8
48 years$562$317$171$89$45$7
49 years$544$303$160$82$41$6
50 years$527$289$151$76$37$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $540,000, adding $3,890 every year, while hoping to spend $45,038 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: 52/32/16 Blend
61$540,000$540,000$540,000$540,000
62$599,093$570,473$562,103$627,452
63$612,280$550,506$533,013$627,344
64$625,303$528,051$501,439$622,159
65$638,097$502,939$467,251$615,523
66$650,590$474,990$430,311$607,311
67$662,701$444,015$390,477$597,389
68$674,339$409,814$347,600$585,614
69$685,400$372,174$301,524$571,829
70$695,772$330,871$252,086$555,868
71$705,326$285,669$199,116$537,549
72$713,920$236,318$142,437$516,678
73$721,396$182,553$81,864$493,046
74$727,575$124,095$17,204$466,424
75$732,261$60,649$0$436,568
76$735,236$0$0$412,056
77$736,255$0$0$390,319
78$735,047$0$0$388,632
79$731,313$0$0$385,466
80$724,718$0$0$380,628
81$714,893$0$0$373,906
82$701,428$0$0$365,064
83$683,869$0$0$353,840
84$661,712$0$0$339,945
85$634,400$0$0$323,058
86$601,315$0$0$302,824
87$561,775$0$0$278,850
88$515,025$0$0$250,704
89$460,228$0$0$217,904
90$396,461$0$0$179,919
91$322,703$0$0$136,164
92$237,824$0$0$85,989
93$140,577$0$0$28,678
94$29,583$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0