Can I retire at age 62 with 544,000?

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 $544,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$44,923$44,523$44,132$43,751$43,379$42,573
2 years$22,239$21,825$21,424$21,034$20,657$19,848
3 years$14,679$14,263$13,862$13,477$13,106$12,319
4 years$10,899$10,485$10,088$9,709$9,347$8,588
5 years$8,632$8,220$7,829$7,458$7,105$6,377
6 years$7,121$6,712$6,327$5,964$5,622$4,925
7 years$6,043$5,637$5,258$4,903$4,572$3,907
8 years$5,234$4,832$4,459$4,113$3,793$3,159
9 years$4,605$4,207$3,841$3,504$3,194$2,591
10 years$4,103$3,708$3,348$3,020$2,722$2,149
11 years$3,692$3,301$2,948$2,628$2,341$1,797
12 years$3,349$2,963$2,616$2,305$2,029$1,514
13 years$3,060$2,678$2,337$2,035$1,769$1,282
14 years$2,812$2,434$2,100$1,807$1,551$1,091
15 years$2,598$2,224$1,896$1,611$1,365$932
16 years$2,410$2,040$1,719$1,443$1,207$799
17 years$2,245$1,879$1,564$1,296$1,070$686
18 years$2,098$1,736$1,428$1,168$951$591
19 years$1,967$1,609$1,307$1,056$848$510
20 years$1,849$1,495$1,200$956$757$441
21 years$1,742$1,393$1,104$868$678$382
22 years$1,646$1,300$1,017$789$608$331
23 years$1,557$1,216$939$718$545$287
24 years$1,477$1,139$868$655$490$249
25 years$1,403$1,069$804$598$441$216
26 years$1,334$1,005$746$547$397$188
27 years$1,271$946$693$501$358$164
28 years$1,212$891$644$459$323$143
29 years$1,158$841$599$421$292$124
30 years$1,107$794$558$386$264$108
31 years$1,060$750$520$355$238$94
32 years$1,016$710$486$326$216$82
33 years$974$672$453$300$195$72
34 years$935$637$424$276$177$62
35 years$899$605$396$254$160$54
36 years$864$574$370$234$145$48
37 years$831$545$347$215$131$41
38 years$801$518$325$199$119$36
39 years$771$492$304$183$108$32
40 years$744$469$285$169$98$28
41 years$718$446$267$156$89$24
42 years$693$425$251$144$81$21
43 years$669$405$235$133$73$18
44 years$646$386$221$123$66$16
45 years$625$368$207$113$60$14
46 years$604$351$195$105$55$12
47 years$585$335$183$97$50$11
48 years$566$320$172$89$45$9
49 years$548$305$162$82$41$8
50 years$531$292$152$76$37$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $544,000, adding $6,394 every year, while hoping to spend $31,359 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: 78/11/11 Blend
61$544,000$544,000$544,000$544,000
62$606,083$577,251$568,819$651,656
63$634,538$572,171$554,509$677,443
64$664,844$565,791$538,668$701,049
65$697,158$558,013$521,213$726,039
66$731,648$548,737$502,054$752,536
67$768,504$537,852$481,101$780,680
68$807,929$525,245$458,255$810,621
69$850,148$510,792$433,417$842,529
70$895,407$494,365$406,480$876,586
71$943,977$475,827$377,336$912,998
72$996,154$455,034$345,868$951,990
73$1,052,264$431,833$311,956$993,810
74$1,112,663$406,061$275,476$1,038,733
75$1,177,745$377,548$236,294$1,087,062
76$1,247,941$346,114$194,276$1,139,130
77$1,323,723$311,566$149,277$1,195,307
78$1,405,613$273,703$101,147$1,255,999
79$1,494,182$232,311$49,732$1,321,657
80$1,590,059$187,164$0$1,392,775
81$1,693,934$138,025$0$1,470,504
82$1,806,568$84,641$0$1,561,114
83$1,928,796$26,746$0$1,659,448
84$2,061,537$0$0$1,766,265
85$2,205,802$0$0$1,886,749
86$2,362,702$0$0$2,021,322
87$2,533,462$0$0$2,167,798
88$2,719,426$0$0$2,327,335
89$2,922,076$0$0$2,501,205
90$3,143,043$0$0$2,690,808
91$3,384,120$0$0$2,897,688
92$3,647,283$0$0$3,123,540
93$3,934,704$0$0$3,370,233
94$4,248,778$0$0$3,639,824
95$4,592,138$0$0$3,934,576
96$4,967,685$0$0$4,256,983
97$5,378,613$0$0$4,609,790
98$5,828,439$0$0$4,996,019
99$6,321,036$0$0$5,418,998
100$6,860,667$0$0$5,882,393