Can I retire at age 62 with 611,000?

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 $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%18.1%
1 years$50,456$50,006$49,568$49,140$48,722$47,125
2 years$24,978$24,513$24,062$23,625$23,201$21,607
3 years$16,487$16,019$15,570$15,137$14,720$13,179
4 years$12,242$11,776$11,331$10,905$10,498$9,023
5 years$9,696$9,233$8,793$8,376$7,981$6,574
6 years$7,999$7,539$7,106$6,699$6,315$4,978
7 years$6,787$6,331$5,905$5,507$5,136$3,869
8 years$5,879$5,427$5,008$4,620$4,260$3,063
9 years$5,172$4,725$4,314$3,935$3,588$2,459
10 years$4,608$4,165$3,761$3,392$3,057$1,994
11 years$4,146$3,708$3,311$2,952$2,629$1,630
12 years$3,762$3,328$2,938$2,589$2,278$1,341
13 years$3,437$3,008$2,625$2,286$1,987$1,109
14 years$3,159$2,734$2,359$2,029$1,742$920
15 years$2,918$2,497$2,130$1,810$1,533$767
16 years$2,707$2,291$1,931$1,620$1,355$640
17 years$2,521$2,110$1,757$1,456$1,202$536
18 years$2,356$1,950$1,604$1,312$1,068$450
19 years$2,209$1,807$1,468$1,186$952$378
20 years$2,077$1,679$1,347$1,074$851$318
21 years$1,957$1,564$1,239$975$761$267
22 years$1,848$1,460$1,142$886$682$225
23 years$1,749$1,366$1,055$807$613$190
24 years$1,659$1,280$975$736$551$160
25 years$1,575$1,201$903$672$495$135
26 years$1,498$1,129$838$615$446$114
27 years$1,428$1,062$778$563$402$97
28 years$1,362$1,001$723$515$363$82
29 years$1,301$944$673$473$328$69
30 years$1,244$892$627$434$296$58
31 years$1,191$843$585$398$268$49
32 years$1,141$798$545$366$242$42
33 years$1,094$755$509$337$219$35
34 years$1,050$716$476$310$198$30
35 years$1,009$679$445$285$180$25
36 years$970$644$416$263$163$21
37 years$934$612$389$242$148$18
38 years$899$582$365$223$134$15
39 years$866$553$342$206$121$13
40 years$835$526$320$190$110$11
41 years$806$501$300$175$100$9
42 years$778$477$282$162$91$8
43 years$751$455$264$149$82$7
44 years$726$433$248$138$75$6
45 years$702$413$233$127$68$5
46 years$679$394$219$117$62$4
47 years$657$376$206$109$56$3
48 years$636$359$193$100$51$3
49 years$616$343$182$93$46$2
50 years$597$328$171$86$42$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $611,000, adding $6,482 every year, while hoping to spend $33,956 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: 49/45/6 Blend
61$611,000$611,000$611,000$611,000
62$680,008$647,625$638,155$711,979
63$713,240$643,230$623,404$730,104
64$748,724$637,481$607,021$745,619
65$786,653$630,277$588,915$761,664
66$827,239$621,509$568,992$778,295
67$870,717$611,062$547,153$795,579
68$917,341$598,815$523,293$813,589
69$967,391$584,638$497,305$832,411
70$1,021,176$568,397$469,076$852,137
71$1,079,033$549,945$438,487$872,877
72$1,141,333$529,131$405,415$894,749
73$1,208,483$505,792$369,730$917,891
74$1,280,931$479,758$331,298$942,453
75$1,359,167$450,848$289,978$968,608
76$1,443,732$418,870$245,623$996,548
77$1,535,220$383,621$198,078$1,026,489
78$1,634,282$344,889$147,184$1,058,671
79$1,741,637$302,446$92,772$1,093,365
80$1,858,073$256,055$34,669$1,130,875
81$1,984,457$205,462$0$1,171,537
82$2,121,743$150,401$0$1,217,479
83$2,270,981$90,591$0$1,269,856
84$2,433,325$25,734$0$1,326,928
85$2,610,045$0$0$1,389,233
86$2,802,539$0$0$1,479,397
87$3,012,345$0$0$1,591,620
88$3,241,155$0$0$1,714,071
89$3,490,833$0$0$1,847,755
90$3,763,430$0$0$1,993,779
91$4,061,201$0$0$2,153,361
92$4,386,634$0$0$2,327,840
93$4,742,463$0$0$2,518,694
94$5,131,700$0$0$2,727,547
95$5,557,664$0$0$2,956,189
96$6,024,006$0$0$3,206,592
97$6,534,747$0$0$3,480,925
98$7,094,317$0$0$3,781,579
99$7,707,594$0$0$4,111,186
100$8,379,949$0$0$4,472,646