Can I retire at age 62 with 610,000?

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 $610,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$50,373$49,925$49,487$49,059$48,642$47,896
2 years$24,937$24,473$24,023$23,586$23,163$22,413
3 years$16,460$15,993$15,544$15,112$14,696$13,965
4 years$12,222$11,757$11,312$10,887$10,481$9,775
5 years$9,680$9,217$8,779$8,363$7,967$7,289
6 years$7,985$7,527$7,095$6,688$6,304$5,654
7 years$6,776$6,321$5,896$5,498$5,127$4,505
8 years$5,869$5,418$5,000$4,612$4,253$3,659
9 years$5,164$4,718$4,306$3,929$3,582$3,016
10 years$4,600$4,158$3,754$3,387$3,052$2,513
11 years$4,140$3,702$3,305$2,947$2,625$2,113
12 years$3,756$3,323$2,933$2,585$2,275$1,789
13 years$3,431$3,003$2,621$2,282$1,984$1,523
14 years$3,153$2,729$2,355$2,026$1,739$1,303
15 years$2,913$2,493$2,126$1,807$1,531$1,119
16 years$2,703$2,288$1,928$1,618$1,353$965
17 years$2,517$2,107$1,754$1,454$1,200$834
18 years$2,353$1,947$1,601$1,310$1,067$722
19 years$2,205$1,804$1,466$1,184$951$627
20 years$2,073$1,677$1,345$1,072$849$545
21 years$1,954$1,562$1,237$973$760$475
22 years$1,845$1,458$1,140$885$681$414
23 years$1,746$1,363$1,053$806$612$361
24 years$1,656$1,277$974$735$550$316
25 years$1,573$1,199$902$671$495$276
26 years$1,496$1,127$837$614$446$242
27 years$1,425$1,060$777$562$402$211
28 years$1,360$999$722$515$362$185
29 years$1,299$943$672$472$327$162
30 years$1,242$890$626$433$296$142
31 years$1,189$841$584$398$267$125
32 years$1,139$796$544$366$242$110
33 years$1,092$754$508$336$219$96
34 years$1,049$715$475$309$198$84
35 years$1,008$678$444$285$179$74
36 years$969$643$415$262$163$65
37 years$932$611$389$242$147$57
38 years$898$581$364$223$134$50
39 years$865$552$341$205$121$44
40 years$834$525$320$189$110$39
41 years$805$500$300$175$100$34
42 years$777$476$281$161$90$30
43 years$750$454$264$149$82$26
44 years$725$433$248$137$75$23
45 years$701$412$233$127$68$20
46 years$678$394$218$117$61$18
47 years$656$376$205$108$56$16
48 years$635$358$193$100$51$14
49 years$615$342$181$93$46$12
50 years$596$327$170$86$42$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $610,000, adding $3,462 every year, while hoping to spend $29,252 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: 48/22/30 Blend
61$610,000$610,000$610,000$610,000
62$675,791$643,461$634,006$702,289
63$713,598$643,867$624,121$721,737
64$754,281$643,312$612,925$739,726
65$798,102$641,719$600,343$758,707
66$845,349$639,004$586,295$778,790
67$896,340$635,081$570,701$800,097
68$951,422$629,855$553,475$822,764
69$1,010,978$623,228$534,527$846,942
70$1,075,427$615,096$513,763$872,801
71$1,145,232$605,347$491,086$900,529
72$1,220,901$593,864$466,392$930,336
73$1,302,992$580,523$439,576$962,456
74$1,392,119$565,190$410,523$997,148
75$1,488,958$547,728$379,119$1,034,701
76$1,594,252$527,987$345,240$1,075,437
77$1,708,819$505,811$308,759$1,119,712
78$1,833,559$481,036$269,542$1,167,923
79$1,969,460$453,486$227,450$1,220,510
80$2,117,614$422,975$182,338$1,277,961
81$2,279,218$389,308$134,054$1,340,819
82$2,455,592$352,278$82,439$1,409,684
83$2,648,189$311,666$27,327$1,485,224
84$2,858,608$267,241$0$1,568,177
85$3,088,609$218,759$0$1,669,441
86$3,340,130$165,962$0$1,789,836
87$3,615,306$108,577$0$1,921,669
88$3,916,487$46,316$0$2,066,117
89$4,246,258$0$0$2,224,477
90$4,607,471$0$0$2,403,297
91$5,003,262$0$0$2,611,588
92$5,437,088$0$0$2,839,964
93$5,912,754$0$0$3,090,437
94$6,434,452$0$0$3,365,224
95$7,006,799$0$0$3,666,764
96$7,634,880$0$0$3,997,748
97$8,324,297$0$0$4,361,137
98$9,081,221$0$0$4,760,194
99$9,912,448$0$0$5,198,513
100$10,825,466$0$0$5,680,052