Can I retire at age 62 with 541,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $541,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$44,675$44,277$43,889$43,510$43,140$41,659
2 years$22,116$21,705$21,305$20,918$20,543$19,066
3 years$14,598$14,184$13,786$13,403$13,033$11,607
4 years$10,839$10,427$10,033$9,656$9,295$7,930
5 years$8,585$8,175$7,786$7,417$7,066$5,766
6 years$7,082$6,675$6,292$5,931$5,591$4,357
7 years$6,009$5,606$5,229$4,876$4,547$3,379
8 years$5,205$4,805$4,434$4,091$3,772$2,668
9 years$4,580$4,184$3,819$3,484$3,177$2,136
10 years$4,080$3,688$3,330$3,003$2,707$1,728
11 years$3,671$3,283$2,931$2,614$2,328$1,409
12 years$3,331$2,947$2,602$2,293$2,017$1,156
13 years$3,043$2,663$2,324$2,024$1,759$953
14 years$2,797$2,421$2,088$1,797$1,542$789
15 years$2,583$2,211$1,886$1,602$1,358$655
16 years$2,397$2,029$1,710$1,435$1,200$546
17 years$2,232$1,868$1,556$1,289$1,064$456
18 years$2,086$1,727$1,420$1,162$946$381
19 years$1,956$1,600$1,300$1,050$843$319
20 years$1,839$1,487$1,193$951$753$268
21 years$1,733$1,385$1,097$863$674$225
22 years$1,637$1,293$1,011$785$604$189
23 years$1,549$1,209$934$715$542$159
24 years$1,469$1,133$864$652$487$133
25 years$1,395$1,063$800$595$439$112
26 years$1,327$999$742$544$395$95
27 years$1,264$940$689$498$356$80
28 years$1,206$886$640$456$321$67
29 years$1,152$836$596$419$290$57
30 years$1,101$789$555$384$262$48
31 years$1,054$746$518$353$237$40
32 years$1,010$706$483$324$214$34
33 years$969$669$451$298$194$29
34 years$930$634$421$274$176$24
35 years$894$601$394$253$159$20
36 years$859$571$368$233$144$17
37 years$827$542$345$214$131$14
38 years$796$515$323$197$119$12
39 years$767$490$303$182$107$10
40 years$740$466$284$168$97$9
41 years$714$444$266$155$88$7
42 years$689$422$249$143$80$6
43 years$665$402$234$132$73$5
44 years$643$384$220$122$66$4
45 years$621$366$206$113$60$4
46 years$601$349$194$104$54$3
47 years$582$333$182$96$49$3
48 years$563$318$171$89$45$2
49 years$545$304$161$82$41$2
50 years$528$290$151$76$37$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $541,000, adding $6,033 every year, while hoping to spend $41,847 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: 54/19/27 Blend
61$541,000$541,000$541,000$541,000
62$602,405$573,732$565,347$630,130
63$619,325$557,320$539,761$633,515
64$636,569$538,701$511,915$632,398
65$654,125$517,724$481,690$630,336
66$671,980$494,226$448,961$627,254
67$690,116$468,037$413,595$623,072
68$708,514$438,977$375,457$617,703
69$727,151$406,856$334,404$611,056
70$746,000$371,471$290,285$603,033
71$765,029$332,610$242,947$593,529
72$784,201$290,047$192,225$582,433
73$803,474$243,544$137,949$569,625
74$822,801$192,851$79,943$554,977
75$842,127$137,700$18,021$538,351
76$861,389$77,813$0$519,600
77$880,517$12,891$0$512,415
78$899,430$0$0$509,220
79$918,039$0$0$516,694
80$936,243$0$0$526,594
81$953,928$0$0$536,155
82$970,965$0$0$545,301
83$987,211$0$0$553,946
84$1,002,507$0$0$561,992
85$1,016,673$0$0$569,332
86$1,029,509$0$0$575,847
87$1,040,792$0$0$581,403
88$1,050,273$0$0$585,849
89$1,057,676$0$0$589,022
90$1,062,693$0$0$590,735
91$1,064,982$0$0$590,785
92$1,064,161$0$0$588,943
93$1,059,809$0$0$584,957
94$1,051,457$0$0$578,547
95$1,038,585$0$0$569,402
96$1,020,616$0$0$557,177
97$996,912$0$0$541,490
98$966,763$0$0$521,919
99$929,387$0$0$497,996
100$883,914$0$0$469,202