Can I retire at age 62 with 547,000?

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 $547,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$45,171$44,768$44,376$43,993$43,619$42,461
2 years$22,362$21,945$21,542$21,150$20,771$19,612
3 years$14,760$14,341$13,939$13,551$13,178$12,055
4 years$10,959$10,543$10,144$9,763$9,399$8,320
5 years$8,680$8,265$7,872$7,499$7,145$6,113
6 years$7,161$6,749$6,362$5,997$5,653$4,670
7 years$6,076$5,668$5,287$4,930$4,598$3,663
8 years$5,263$4,859$4,484$4,136$3,814$2,927
9 years$4,631$4,230$3,862$3,523$3,212$2,372
10 years$4,125$3,729$3,367$3,037$2,737$1,943
11 years$3,712$3,320$2,964$2,643$2,354$1,605
12 years$3,368$2,979$2,630$2,318$2,040$1,334
13 years$3,077$2,693$2,350$2,047$1,779$1,115
14 years$2,828$2,447$2,112$1,817$1,559$936
15 years$2,612$2,236$1,907$1,620$1,373$789
16 years$2,423$2,051$1,729$1,451$1,213$666
17 years$2,257$1,889$1,573$1,303$1,076$564
18 years$2,110$1,746$1,436$1,175$957$479
19 years$1,978$1,618$1,314$1,061$853$407
20 years$1,859$1,503$1,206$961$762$347
21 years$1,752$1,400$1,110$872$682$296
22 years$1,655$1,307$1,023$793$611$252
23 years$1,566$1,223$944$722$548$215
24 years$1,485$1,145$873$659$493$184
25 years$1,410$1,075$809$602$444$157
26 years$1,342$1,010$750$550$400$135
27 years$1,278$951$697$504$360$115
28 years$1,219$896$648$461$325$99
29 years$1,164$845$603$423$293$85
30 years$1,113$798$561$388$265$72
31 years$1,066$755$523$357$240$62
32 years$1,021$714$488$328$217$53
33 years$980$676$456$301$196$46
34 years$940$641$426$277$178$39
35 years$904$608$398$255$161$34
36 years$869$577$373$235$146$29
37 years$836$548$349$217$132$25
38 years$805$521$327$200$120$21
39 years$776$495$306$184$109$18
40 years$748$471$287$170$99$16
41 years$721$448$269$157$89$13
42 years$696$427$252$145$81$11
43 years$673$407$237$133$74$10
44 years$650$388$222$123$67$8
45 years$628$370$209$114$61$7
46 years$608$353$196$105$55$6
47 years$588$337$184$97$50$5
48 years$569$321$173$90$45$5
49 years$551$307$163$83$41$4
50 years$534$293$153$77$37$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $547,000, adding $6,933 every year, while hoping to spend $32,277 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: 59/15/26 Blend
61$547,000$547,000$547,000$547,000
62$609,945$580,954$572,476$641,272
63$637,817$575,079$557,311$657,558
64$667,450$567,833$540,557$671,265
65$698,990$559,117$522,126$685,533
66$732,596$548,823$501,926$700,423
67$768,443$536,836$479,862$716,005
68$806,721$523,038$455,834$732,358
69$847,640$507,301$429,738$749,571
70$891,430$489,489$401,465$767,742
71$938,342$469,461$370,901$786,981
72$988,653$447,064$337,926$807,413
73$1,042,666$422,141$302,416$829,177
74$1,100,712$394,520$264,242$852,426
75$1,163,158$364,025$223,268$877,335
76$1,230,404$330,466$179,351$904,095
77$1,302,890$293,644$132,344$932,922
78$1,381,100$253,347$82,092$964,056
79$1,465,564$209,353$28,434$997,763
80$1,556,867$161,427$0$1,034,342
81$1,655,650$109,319$0$1,082,120
82$1,762,618$52,768$0$1,142,407
83$1,878,547$0$0$1,207,765
84$2,004,289$0$0$1,280,106
85$2,140,782$0$0$1,368,125
86$2,289,057$0$0$1,463,782
87$2,450,248$0$0$1,567,813
88$2,625,604$0$0$1,681,029
89$2,816,497$0$0$1,804,322
90$3,024,438$0$0$1,938,674
91$3,251,090$0$0$2,085,164
92$3,498,282$0$0$2,244,982
93$3,768,029$0$0$2,419,435
94$4,062,547$0$0$2,609,965
95$4,384,276$0$0$2,818,158
96$4,735,903$0$0$3,045,758
97$5,120,386$0$0$3,294,688
98$5,540,981$0$0$3,567,064
99$6,001,274$0$0$3,865,216
100$6,505,212$0$0$4,191,711