Can I retire at age 62 with 604,000?

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 $604,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$49,878$49,433$49,000$48,577$48,164$47,800
2 years$24,692$24,232$23,786$23,354$22,935$22,569
3 years$16,298$15,836$15,391$14,963$14,551$14,193
4 years$12,102$11,641$11,201$10,780$10,378$10,031
5 years$9,584$9,127$8,692$8,280$7,889$7,554
6 years$7,907$7,453$7,025$6,622$6,242$5,920
7 years$6,709$6,259$5,838$5,444$5,077$4,767
8 years$5,811$5,365$4,951$4,567$4,212$3,915
9 years$5,113$4,671$4,264$3,890$3,547$3,263
10 years$4,555$4,117$3,718$3,353$3,022$2,750
11 years$4,099$3,665$3,273$2,918$2,599$2,340
12 years$3,719$3,290$2,905$2,560$2,252$2,005
13 years$3,398$2,973$2,595$2,260$1,964$1,728
14 years$3,122$2,702$2,332$2,006$1,722$1,498
15 years$2,884$2,469$2,105$1,789$1,516$1,303
16 years$2,676$2,265$1,909$1,602$1,340$1,138
17 years$2,492$2,086$1,737$1,439$1,188$996
18 years$2,329$1,928$1,585$1,297$1,056$875
19 years$2,184$1,786$1,451$1,172$941$770
20 years$2,053$1,660$1,332$1,062$841$679
21 years$1,934$1,546$1,225$963$753$600
22 years$1,827$1,443$1,129$876$675$530
23 years$1,729$1,350$1,043$798$606$470
24 years$1,640$1,265$964$728$544$417
25 years$1,557$1,187$893$664$490$370
26 years$1,481$1,116$828$608$441$328
27 years$1,411$1,050$769$556$398$292
28 years$1,346$989$715$510$359$260
29 years$1,286$933$665$467$324$231
30 years$1,229$881$620$429$293$206
31 years$1,177$833$578$394$265$183
32 years$1,128$788$539$362$239$164
33 years$1,082$747$503$333$217$146
34 years$1,038$708$470$306$196$130
35 years$998$671$440$282$178$116
36 years$959$637$411$260$161$104
37 years$923$605$385$239$146$92
38 years$889$575$361$220$132$83
39 years$856$547$338$203$120$74
40 years$826$520$317$188$109$66
41 years$797$495$297$173$99$59
42 years$769$472$278$160$90$53
43 years$743$449$261$147$81$47
44 years$718$428$245$136$74$42
45 years$694$408$230$126$67$38
46 years$671$390$216$116$61$34
47 years$649$372$203$107$55$30
48 years$629$355$191$99$50$27
49 years$609$339$180$92$46$24
50 years$590$324$169$85$41$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $604,000, adding $6,111 every year, while hoping to spend $51,654 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: 38/43/19 Blend
61$604,000$604,000$604,000$604,000
62$671,911$639,899$630,537$693,407
63$685,487$616,295$596,701$685,856
64$698,716$589,803$560,000$672,354
65$711,509$560,227$520,283$656,689
66$723,764$527,359$477,394$638,696
67$735,370$490,982$431,169$618,195
68$746,199$450,861$381,435$594,997
69$756,111$406,754$328,013$568,896
70$764,949$358,399$270,716$539,673
71$772,538$305,525$209,348$507,092
72$778,682$247,840$143,707$470,902
73$783,164$185,041$73,577$430,833
74$785,742$116,803$0$386,593
75$786,148$42,787$0$338,128
76$784,084$0$0$300,781
77$779,218$0$0$276,992
78$771,184$0$0$272,074
79$759,573$0$0$265,610
80$743,935$0$0$257,408
81$723,768$0$0$247,258
82$698,519$0$0$234,926
83$667,573$0$0$220,154
84$630,252$0$0$202,654
85$585,804$0$0$182,111
86$533,397$0$0$158,174
87$472,111$0$0$130,456
88$400,930$0$0$98,530
89$318,729$0$0$61,923
90$224,267$0$0$20,112
91$116,169$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0