Can I retire at age 62 with 548,000?

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 $548,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$45,253$44,850$44,457$44,073$43,698$42,316
2 years$22,403$21,985$21,581$21,189$20,809$19,429
3 years$14,787$14,368$13,964$13,576$13,202$11,868
4 years$10,980$10,562$10,162$9,781$9,416$8,137
5 years$8,696$8,281$7,887$7,513$7,158$5,938
6 years$7,174$6,762$6,373$6,008$5,664$4,504
7 years$6,087$5,678$5,296$4,939$4,606$3,507
8 years$5,272$4,867$4,492$4,144$3,821$2,781
9 years$4,639$4,238$3,869$3,529$3,218$2,236
10 years$4,133$3,736$3,373$3,042$2,742$1,817
11 years$3,719$3,326$2,969$2,648$2,358$1,488
12 years$3,374$2,985$2,635$2,322$2,043$1,227
13 years$3,083$2,697$2,354$2,050$1,782$1,016
14 years$2,833$2,452$2,115$1,820$1,562$845
15 years$2,617$2,240$1,910$1,623$1,375$706
16 years$2,428$2,055$1,732$1,453$1,216$591
17 years$2,261$1,893$1,576$1,306$1,078$496
18 years$2,113$1,749$1,438$1,177$958$417
19 years$1,981$1,621$1,317$1,063$854$351
20 years$1,862$1,506$1,209$963$763$296
21 years$1,755$1,403$1,112$874$683$249
22 years$1,658$1,310$1,025$795$612$211
23 years$1,569$1,225$946$724$549$178
24 years$1,488$1,148$875$660$494$151
25 years$1,413$1,077$810$603$444$128
26 years$1,344$1,012$752$551$400$108
27 years$1,280$953$698$505$361$91
28 years$1,221$898$649$462$326$78
29 years$1,167$847$604$424$294$66
30 years$1,115$800$562$389$266$56
31 years$1,068$756$524$357$240$47
32 years$1,023$715$489$328$217$40
33 years$981$677$457$302$197$34
34 years$942$642$427$278$178$29
35 years$905$609$399$256$161$24
36 years$870$578$373$236$146$21
37 years$837$549$349$217$132$18
38 years$806$522$327$200$120$15
39 years$777$496$306$184$109$13
40 years$749$472$287$170$99$11
41 years$723$449$269$157$90$9
42 years$698$428$253$145$81$8
43 years$674$408$237$134$74$7
44 years$651$389$223$123$67$6
45 years$629$371$209$114$61$5
46 years$609$354$196$105$55$4
47 years$589$337$184$97$50$3
48 years$570$322$173$90$46$3
49 years$552$308$163$83$41$2
50 years$535$294$153$77$38$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $548,000, adding $4,780 every year, while hoping to spend $38,381 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: 74/15/11 Blend
61$548,000$548,000$548,000$548,000
62$608,827$579,783$571,289$652,235
63$630,090$567,355$549,590$669,112
64$652,235$553,032$525,877$682,333
65$675,313$536,680$500,044$695,758
66$699,376$518,158$471,976$709,394
67$724,482$497,317$441,557$723,251
68$750,692$473,999$408,662$737,342
69$778,073$448,035$373,163$751,680
70$806,698$419,250$334,925$766,280
71$836,644$387,457$293,808$781,162
72$867,996$352,456$249,665$796,346
73$900,845$314,041$202,343$811,857
74$935,291$271,988$151,681$827,722
75$971,442$226,066$97,513$843,974
76$1,009,413$176,027$39,663$860,650
77$1,049,332$121,612$0$877,792
78$1,091,336$62,544$0$898,037
79$1,135,577$0$0$923,987
80$1,182,218$0$0$951,309
81$1,231,437$0$0$991,043
82$1,283,428$0$0$1,033,026
83$1,338,403$0$0$1,077,429
84$1,396,593$0$0$1,124,441
85$1,458,252$0$0$1,174,267
86$1,523,655$0$0$1,227,133
87$1,593,104$0$0$1,283,282
88$1,666,929$0$0$1,342,985
89$1,745,491$0$0$1,406,536
90$1,829,185$0$0$1,474,255
91$1,918,443$0$0$1,546,495
92$2,013,741$0$0$1,623,643
93$2,115,597$0$0$1,706,121
94$2,224,581$0$0$1,794,393
95$2,341,316$0$0$1,888,968
96$2,466,488$0$0$1,990,403
97$2,600,848$0$0$2,099,310
98$2,745,220$0$0$2,216,361
99$2,900,510$0$0$2,342,294
100$3,067,710$0$0$2,477,917