Can I retire at age 62 with 611,000?

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 $611,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$50,456$50,006$49,568$49,140$48,722$48,395
2 years$24,978$24,513$24,062$23,625$23,201$22,871
3 years$16,487$16,019$15,570$15,137$14,720$14,397
4 years$12,242$11,776$11,331$10,905$10,498$10,185
5 years$9,696$9,233$8,793$8,376$7,981$7,679
6 years$7,999$7,539$7,106$6,699$6,315$6,024
7 years$6,787$6,331$5,905$5,507$5,136$4,856
8 years$5,879$5,427$5,008$4,620$4,260$3,992
9 years$5,172$4,725$4,314$3,935$3,588$3,331
10 years$4,608$4,165$3,761$3,392$3,057$2,812
11 years$4,146$3,708$3,311$2,952$2,629$2,395
12 years$3,762$3,328$2,938$2,589$2,278$2,055
13 years$3,437$3,008$2,625$2,286$1,987$1,774
14 years$3,159$2,734$2,359$2,029$1,742$1,539
15 years$2,918$2,497$2,130$1,810$1,533$1,341
16 years$2,707$2,291$1,931$1,620$1,355$1,172
17 years$2,521$2,110$1,757$1,456$1,202$1,028
18 years$2,356$1,950$1,604$1,312$1,068$904
19 years$2,209$1,807$1,468$1,186$952$797
20 years$2,077$1,679$1,347$1,074$851$703
21 years$1,957$1,564$1,239$975$761$622
22 years$1,848$1,460$1,142$886$682$551
23 years$1,749$1,366$1,055$807$613$489
24 years$1,659$1,280$975$736$551$434
25 years$1,575$1,201$903$672$495$386
26 years$1,498$1,129$838$615$446$343
27 years$1,428$1,062$778$563$402$306
28 years$1,362$1,001$723$515$363$272
29 years$1,301$944$673$473$328$243
30 years$1,244$892$627$434$296$217
31 years$1,191$843$585$398$268$193
32 years$1,141$798$545$366$242$173
33 years$1,094$755$509$337$219$154
34 years$1,050$716$476$310$198$138
35 years$1,009$679$445$285$180$123
36 years$970$644$416$263$163$110
37 years$934$612$389$242$148$98
38 years$899$582$365$223$134$88
39 years$866$553$342$206$121$79
40 years$835$526$320$190$110$70
41 years$806$501$300$175$100$63
42 years$778$477$282$162$91$56
43 years$751$455$264$149$82$51
44 years$726$433$248$138$75$45
45 years$702$413$233$127$68$41
46 years$679$394$219$117$62$36
47 years$657$376$206$109$56$32
48 years$636$359$193$100$51$29
49 years$616$343$182$93$46$26
50 years$597$328$171$86$42$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $611,000, adding $6,632 every year, while hoping to spend $57,544 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: 57/21/22 Blend
61$611,000$611,000$611,000$611,000
62$680,163$647,780$638,309$714,551
63$688,313$618,295$598,466$709,275
64$695,366$585,436$555,360$696,812
65$701,149$548,978$508,820$681,983
66$705,470$508,682$458,669$664,572
67$708,115$464,294$404,722$644,350
68$708,846$415,548$346,783$621,063
69$707,399$362,161$284,652$594,438
70$703,483$303,835$218,116$564,177
71$696,770$240,255$146,955$529,956
72$686,901$171,088$70,938$491,423
73$673,475$95,982$0$448,196
74$656,050$14,566$0$402,247
75$634,136$0$0$368,659
76$607,187$0$0$347,325
77$574,604$0$0$325,785
78$535,720$0$0$300,253
79$489,798$0$0$270,266
80$436,025$0$0$235,311
81$373,499$0$0$194,821
82$301,225$0$0$148,169
83$218,103$0$0$94,664
84$122,916$0$0$33,540
85$14,321$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$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