Can I retire at age 62 with 614,000?

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 $614,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$50,704$50,252$49,811$49,381$48,961$47,894
2 years$25,101$24,633$24,180$23,741$23,315$22,245
3 years$16,568$16,098$15,646$15,211$14,792$13,753
4 years$12,302$11,834$11,386$10,959$10,550$9,550
5 years$9,743$9,278$8,836$8,417$8,020$7,061
6 years$8,038$7,576$7,141$6,731$6,346$5,430
7 years$6,820$6,362$5,934$5,534$5,161$4,288
8 years$5,907$5,454$5,033$4,643$4,281$3,451
9 years$5,198$4,748$4,335$3,954$3,606$2,817
10 years$4,631$4,186$3,779$3,409$3,072$2,325
11 years$4,167$3,726$3,327$2,967$2,642$1,935
12 years$3,780$3,344$2,953$2,602$2,290$1,621
13 years$3,454$3,022$2,638$2,297$1,997$1,366
14 years$3,174$2,747$2,370$2,039$1,750$1,156
15 years$2,932$2,510$2,140$1,819$1,541$982
16 years$2,720$2,303$1,940$1,628$1,362$837
17 years$2,534$2,121$1,766$1,463$1,208$715
18 years$2,368$1,959$1,612$1,319$1,074$612
19 years$2,220$1,816$1,475$1,191$957$525
20 years$2,087$1,688$1,354$1,079$855$451
21 years$1,967$1,572$1,246$979$765$388
22 years$1,857$1,467$1,148$890$686$334
23 years$1,758$1,372$1,060$811$616$288
24 years$1,667$1,286$980$740$553$249
25 years$1,583$1,207$908$675$498$215
26 years$1,506$1,134$842$618$448$185
27 years$1,435$1,067$782$565$404$160
28 years$1,368$1,006$727$518$365$139
29 years$1,307$949$676$475$329$120
30 years$1,250$896$630$436$298$104
31 years$1,196$847$587$400$269$90
32 years$1,146$801$548$368$243$78
33 years$1,100$759$512$338$220$67
34 years$1,056$719$478$311$199$58
35 years$1,014$682$447$287$181$51
36 years$975$648$418$264$164$44
37 years$938$615$391$243$148$38
38 years$904$585$367$224$134$33
39 years$871$556$343$207$122$29
40 years$839$529$322$191$111$25
41 years$810$503$302$176$100$21
42 years$782$479$283$162$91$19
43 years$755$457$266$150$83$16
44 years$730$435$249$138$75$14
45 years$705$415$234$128$68$12
46 years$682$396$220$118$62$11
47 years$660$378$207$109$56$9
48 years$639$361$194$101$51$8
49 years$619$345$182$93$46$7
50 years$599$329$172$86$42$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $614,000, adding $2,156 every year, while hoping to spend $39,114 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: 52/19/29 Blend
61$614,000$614,000$614,000$614,000
62$678,852$646,310$636,793$708,521
63$706,478$636,362$616,508$719,449
64$735,611$624,616$594,234$727,221
65$766,363$610,942$569,860$734,910
66$798,857$595,203$543,276$742,526
67$833,226$577,254$514,362$750,082
68$869,618$556,942$482,995$757,593
69$908,190$534,103$449,047$765,080
70$949,118$508,567$412,382$772,568
71$992,591$480,150$372,860$780,089
72$1,038,819$448,661$330,334$787,678
73$1,088,029$413,896$284,651$795,381
74$1,140,470$375,639$235,650$803,250
75$1,196,417$333,664$183,163$811,346
76$1,256,169$287,731$127,015$819,739
77$1,320,053$237,584$67,025$828,514
78$1,388,429$182,957$3,002$837,766
79$1,461,693$123,566$0$847,605
80$1,540,276$59,111$0$878,370
81$1,624,654$0$0$912,297
82$1,715,347$0$0$950,931
83$1,812,927$0$0$1,005,840
84$1,918,024$0$0$1,065,023
85$2,031,325$0$0$1,128,876
86$2,153,590$0$0$1,197,831
87$2,285,651$0$0$1,272,365
88$2,428,422$0$0$1,353,000
89$2,582,909$0$0$1,440,312
90$2,750,218$0$0$1,534,933
91$2,931,563$0$0$1,637,559
92$3,128,282$0$0$1,748,953
93$3,341,844$0$0$1,869,956
94$3,573,865$0$0$2,001,494
95$3,826,123$0$0$2,144,584
96$4,100,575$0$0$2,300,346
97$4,399,374$0$0$2,470,012
98$4,724,886$0$0$2,654,937
99$5,079,719$0$0$2,856,614
100$5,466,742$0$0$3,076,683