Can I retire at age 62 with 541,000?

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 $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%14.1%
1 years$44,675$44,277$43,889$43,510$43,140$42,408
2 years$22,116$21,705$21,305$20,918$20,543$19,808
3 years$14,598$14,184$13,786$13,403$13,033$12,318
4 years$10,839$10,427$10,033$9,656$9,295$8,605
5 years$8,585$8,175$7,786$7,417$7,066$6,403
6 years$7,082$6,675$6,292$5,931$5,591$4,956
7 years$6,009$5,606$5,229$4,876$4,547$3,940
8 years$5,205$4,805$4,434$4,091$3,772$3,193
9 years$4,580$4,184$3,819$3,484$3,177$2,625
10 years$4,080$3,688$3,330$3,003$2,707$2,182
11 years$3,671$3,283$2,931$2,614$2,328$1,830
12 years$3,331$2,947$2,602$2,293$2,017$1,546
13 years$3,043$2,663$2,324$2,024$1,759$1,313
14 years$2,797$2,421$2,088$1,797$1,542$1,120
15 years$2,583$2,211$1,886$1,602$1,358$959
16 years$2,397$2,029$1,710$1,435$1,200$825
17 years$2,232$1,868$1,556$1,289$1,064$711
18 years$2,086$1,727$1,420$1,162$946$614
19 years$1,956$1,600$1,300$1,050$843$531
20 years$1,839$1,487$1,193$951$753$460
21 years$1,733$1,385$1,097$863$674$400
22 years$1,637$1,293$1,011$785$604$347
23 years$1,549$1,209$934$715$542$302
24 years$1,469$1,133$864$652$487$263
25 years$1,395$1,063$800$595$439$230
26 years$1,327$999$742$544$395$200
27 years$1,264$940$689$498$356$175
28 years$1,206$886$640$456$321$153
29 years$1,152$836$596$419$290$133
30 years$1,101$789$555$384$262$117
31 years$1,054$746$518$353$237$102
32 years$1,010$706$483$324$214$89
33 years$969$669$451$298$194$78
34 years$930$634$421$274$176$68
35 years$894$601$394$253$159$60
36 years$859$571$368$233$144$52
37 years$827$542$345$214$131$46
38 years$796$515$323$197$119$40
39 years$767$490$303$182$107$35
40 years$740$466$284$168$97$31
41 years$714$444$266$155$88$27
42 years$689$422$249$143$80$24
43 years$665$402$234$132$73$21
44 years$643$384$220$122$66$18
45 years$621$366$206$113$60$16
46 years$601$349$194$104$54$14
47 years$582$333$182$96$49$12
48 years$563$318$171$89$45$11
49 years$545$304$161$82$41$9
50 years$528$290$151$76$37$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $541,000, adding $6,255 every year, while hoping to spend $20,690 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: 55/31/14 Blend
61$541,000$541,000$541,000$541,000
62$602,634$573,961$565,576$633,246
63$642,089$580,071$562,508$660,865
64$684,874$585,787$558,645$688,150
65$731,309$591,068$553,937$717,384
66$781,742$595,870$548,333$748,759
67$836,558$600,146$541,781$782,483
68$896,180$603,846$534,224$818,790
69$961,074$606,918$525,604$857,935
70$1,031,752$609,306$515,860$900,203
71$1,108,777$610,949$504,928$945,906
72$1,192,771$611,783$492,741$995,390
73$1,284,415$611,742$479,229$1,049,037
74$1,384,461$610,753$464,319$1,107,267
75$1,493,736$608,740$447,934$1,170,548
76$1,613,151$605,623$429,994$1,239,393
77$1,743,709$601,315$410,416$1,314,369
78$1,886,514$595,725$389,111$1,396,104
79$2,042,780$588,757$365,988$1,485,289
80$2,213,846$580,309$340,951$1,582,689
81$2,401,187$570,273$313,901$1,689,148
82$2,606,424$558,532$284,733$1,805,596
83$2,831,345$544,966$253,337$1,933,061
84$3,077,919$529,446$219,601$2,072,679
85$3,348,313$511,836$183,404$2,225,702
86$3,644,916$491,990$144,623$2,393,513
87$3,970,357$469,757$103,127$2,577,636
88$4,327,533$444,975$58,782$2,779,756
89$4,719,636$417,473$11,445$3,001,731
90$5,150,179$387,070$0$3,245,612
91$5,623,036$353,575$0$3,519,497
92$6,142,473$316,787$0$3,822,250
93$6,713,187$276,491$0$4,154,939
94$7,340,355$232,463$0$4,520,628
95$8,029,681$184,463$0$4,922,695
96$8,787,448$132,241$0$5,364,866
97$9,620,577$75,530$0$5,851,251
98$10,536,694$14,050$0$6,386,381
99$11,544,203$0$0$6,975,251
100$12,652,359$0$0$7,641,277