Can I retire at age 62 with 546,000?

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 $546,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$45,088$44,687$44,295$43,912$43,539$43,337
2 years$22,321$21,905$21,502$21,112$20,733$20,529
3 years$14,733$14,315$13,913$13,526$13,154$12,955
4 years$10,939$10,523$10,125$9,745$9,381$9,188
5 years$8,664$8,250$7,858$7,485$7,132$6,945
6 years$7,148$6,737$6,350$5,986$5,643$5,463
7 years$6,065$5,658$5,277$4,921$4,589$4,416
8 years$5,253$4,850$4,475$4,128$3,807$3,641
9 years$4,622$4,223$3,855$3,516$3,206$3,047
10 years$4,118$3,722$3,361$3,031$2,732$2,579
11 years$3,705$3,313$2,959$2,638$2,349$2,203
12 years$3,362$2,974$2,626$2,314$2,036$1,897
13 years$3,071$2,688$2,346$2,043$1,775$1,642
14 years$2,823$2,443$2,108$1,813$1,556$1,429
15 years$2,607$2,232$1,903$1,617$1,370$1,250
16 years$2,419$2,048$1,725$1,448$1,211$1,096
17 years$2,253$1,886$1,570$1,301$1,074$965
18 years$2,106$1,742$1,433$1,173$955$851
19 years$1,974$1,615$1,312$1,059$851$753
20 years$1,856$1,501$1,204$960$760$667
21 years$1,749$1,398$1,108$871$680$592
22 years$1,652$1,305$1,021$792$610$527
23 years$1,563$1,220$943$721$547$469
24 years$1,482$1,143$872$658$492$418
25 years$1,408$1,073$807$601$443$373
26 years$1,339$1,008$749$549$399$333
27 years$1,276$949$695$503$360$298
28 years$1,217$894$646$461$324$266
29 years$1,162$844$602$422$293$239
30 years$1,111$797$560$388$265$214
31 years$1,064$753$522$356$239$191
32 years$1,019$713$487$327$216$172
33 years$978$675$455$301$196$154
34 years$939$640$425$277$177$138
35 years$902$607$397$255$161$124
36 years$867$576$372$235$146$111
37 years$834$547$348$216$132$100
38 years$803$520$326$199$120$90
39 years$774$494$305$184$108$81
40 years$746$470$286$170$98$72
41 years$720$448$268$156$89$65
42 years$695$426$252$144$81$59
43 years$671$406$236$133$73$53
44 years$649$387$222$123$67$47
45 years$627$369$208$114$61$43
46 years$607$352$196$105$55$38
47 years$587$336$184$97$50$34
48 years$568$321$173$90$45$31
49 years$550$306$162$83$41$28
50 years$533$293$153$77$37$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $546,000, adding $5,836 every year, while hoping to spend $28,200 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: 67/10/23 Blend
61$546,000$546,000$546,000$546,000
62$607,712$578,774$570,311$644,490
63$639,694$577,129$559,412$668,256
64$673,993$574,459$547,202$690,475
65$710,816$570,683$533,609$714,114
66$750,388$565,716$518,554$739,314
67$792,961$559,468$501,958$766,230
68$838,805$551,845$483,737$795,034
69$888,222$542,744$463,800$825,917
70$941,541$532,059$442,058$859,087
71$999,124$519,675$418,413$894,779
72$1,061,369$505,474$392,765$933,248
73$1,128,714$489,328$365,007$974,781
74$1,201,639$471,101$335,032$1,019,692
75$1,280,674$450,652$302,722$1,068,328
76$1,366,398$427,830$267,959$1,121,076
77$1,459,452$402,475$230,617$1,178,360
78$1,560,538$374,418$190,565$1,240,650
79$1,670,430$343,482$147,666$1,308,467
80$1,789,979$309,478$101,778$1,382,385
81$1,920,121$272,205$52,751$1,463,040
82$2,061,885$231,455$430$1,551,132
83$2,216,405$187,004$0$1,647,437
84$2,384,929$138,618$0$1,766,408
85$2,568,829$86,048$0$1,896,390
86$2,769,617$29,032$0$2,038,366
87$2,988,957$0$0$2,193,535
88$3,228,680$0$0$2,366,816
89$3,490,803$0$0$2,559,815
90$3,777,545$0$0$2,770,974
91$4,091,351$0$0$3,002,099
92$4,434,913$0$0$3,255,175
93$4,811,196$0$0$3,532,391
94$5,223,462$0$0$3,836,157
95$5,675,308$0$0$4,169,126
96$6,170,692$0$0$4,534,221
97$6,713,975$0$0$4,934,660
98$7,309,960$0$0$5,373,990
99$7,963,937$0$0$5,856,115
100$8,681,733$0$0$6,385,337