Can I retire at age 62 with 549,000?

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 $549,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$45,336$44,932$44,538$44,154$43,778$42,737
2 years$22,444$22,026$21,620$21,228$20,847$19,804
3 years$14,814$14,394$13,990$13,601$13,226$12,214
4 years$11,000$10,581$10,181$9,799$9,433$8,460
5 years$8,712$8,296$7,901$7,526$7,171$6,239
6 years$7,187$6,774$6,385$6,019$5,674$4,785
7 years$6,098$5,689$5,306$4,948$4,614$3,768
8 years$5,282$4,876$4,500$4,151$3,828$3,023
9 years$4,648$4,246$3,876$3,536$3,224$2,460
10 years$4,140$3,742$3,379$3,048$2,747$2,024
11 years$3,726$3,332$2,975$2,653$2,362$1,679
12 years$3,380$2,990$2,640$2,327$2,047$1,403
13 years$3,088$2,702$2,359$2,054$1,785$1,178
14 years$2,838$2,456$2,119$1,823$1,565$993
15 years$2,622$2,244$1,913$1,626$1,378$841
16 years$2,432$2,059$1,735$1,456$1,218$714
17 years$2,265$1,896$1,579$1,308$1,080$608
18 years$2,117$1,752$1,441$1,179$960$519
19 years$1,985$1,624$1,319$1,065$856$443
20 years$1,866$1,509$1,211$965$764$379
21 years$1,758$1,405$1,114$876$684$325
22 years$1,661$1,312$1,026$796$613$279
23 years$1,572$1,227$948$725$550$239
24 years$1,490$1,150$876$661$495$206
25 years$1,415$1,079$812$604$445$177
26 years$1,346$1,014$753$552$401$152
27 years$1,283$954$699$505$362$131
28 years$1,224$899$650$463$326$113
29 years$1,169$848$605$425$295$97
30 years$1,118$801$563$390$266$84
31 years$1,070$757$525$358$241$72
32 years$1,025$717$490$329$218$62
33 years$983$679$458$303$197$54
34 years$944$643$427$278$178$46
35 years$907$610$400$256$162$40
36 years$872$579$374$236$146$35
37 years$839$550$350$217$133$30
38 years$808$523$328$200$120$26
39 years$778$497$307$185$109$22
40 years$751$473$288$170$99$19
41 years$724$450$270$157$90$17
42 years$699$429$253$145$81$14
43 years$675$408$238$134$74$12
44 years$652$389$223$124$67$11
45 years$631$371$209$114$61$9
46 years$610$354$197$106$55$8
47 years$590$338$185$97$50$7
48 years$571$323$174$90$46$6
49 years$553$308$163$83$41$5
50 years$536$294$153$77$38$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $549,000, adding $5,755 every year, while hoping to spend $39,079 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: 37/38/25 Blend
61$549,000$549,000$549,000$549,000
62$610,934$581,837$573,328$628,784
63$631,670$568,768$550,955$629,324
64$653,211$553,748$526,522$625,892
65$675,598$536,641$499,920$621,415
66$698,874$517,302$471,033$615,823
67$723,088$495,578$439,741$609,045
68$748,289$471,307$405,918$601,002
69$774,530$444,317$369,433$591,615
70$801,871$414,428$330,147$580,800
71$830,373$381,446$287,918$568,469
72$860,104$345,169$242,596$554,529
73$891,135$305,384$194,024$538,885
74$923,546$261,863$142,039$521,436
75$957,421$214,367$86,470$502,077
76$992,850$162,643$27,140$480,698
77$1,029,934$106,425$0$457,186
78$1,068,777$45,431$0$441,072
79$1,109,497$0$0$430,935
80$1,152,220$0$0$428,084
81$1,197,081$0$0$445,061
82$1,244,229$0$0$462,929
83$1,293,824$0$0$481,753
84$1,346,044$0$0$501,603
85$1,401,077$0$0$522,554
86$1,459,132$0$0$544,691
87$1,520,437$0$0$568,104
88$1,585,237$0$0$592,893
89$1,653,803$0$0$619,165
90$1,726,428$0$0$647,040
91$1,803,436$0$0$676,647
92$1,885,178$0$0$708,128
93$1,972,037$0$0$741,637
94$2,064,435$0$0$777,345
95$2,162,832$0$0$815,436
96$2,267,732$0$0$856,115
97$2,379,687$0$0$899,605
98$2,499,302$0$0$946,150
99$2,627,240$0$0$996,019
100$2,764,226$0$0$1,049,505