*Updated with corrected simulation results on 23rd February

Do I have enough financially to retire at 40 and last me till 100?

This is a thought that came across my mind umpteen times. How much money will I need to do that? Will I end up sleeping on the roads if I miscalculated or overestimated my chances of retiring successfully?

To answer all these burning questions, I decided to take a data-science based approach and run through multiple simulations to put a quantitative sense into understanding my chances of success.

Now, before you run any simulation, you will need to first define the parameters. This is not different too and here are the parameters I assume.

Retirement sum: 500,000 SGD

Retirement age: 40 (gasp!)

Number of years to go before I meet my maker: 60 (assuming I live till 100)

Yearly expenses during retirement: 60,000 SGD

Inflation rate during my years of retirement: 3% annually

Investment methodology: Full investment of retirement sum of 500,000 SGD into STI Index*