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%13.5%
1 years$50,704$50,252$49,811$49,381$48,961$48,249
2 years$25,101$24,633$24,180$23,741$23,315$22,599
3 years$16,568$16,098$15,646$15,211$14,792$14,095
4 years$12,302$11,834$11,386$10,959$10,550$9,876
5 years$9,743$9,278$8,836$8,417$8,020$7,372
6 years$8,038$7,576$7,141$6,731$6,346$5,725
7 years$6,820$6,362$5,934$5,534$5,161$4,566
8 years$5,907$5,454$5,033$4,643$4,281$3,714
9 years$5,198$4,748$4,335$3,954$3,606$3,064
10 years$4,631$4,186$3,779$3,409$3,072$2,557
11 years$4,167$3,726$3,327$2,967$2,642$2,152
12 years$3,780$3,344$2,953$2,602$2,290$1,824
13 years$3,454$3,022$2,638$2,297$1,997$1,556
14 years$3,174$2,747$2,370$2,039$1,750$1,333
15 years$2,932$2,510$2,140$1,819$1,541$1,146
16 years$2,720$2,303$1,940$1,628$1,362$989
17 years$2,534$2,121$1,766$1,463$1,208$856
18 years$2,368$1,959$1,612$1,319$1,074$743
19 years$2,220$1,816$1,475$1,191$957$646
20 years$2,087$1,688$1,354$1,079$855$562
21 years$1,967$1,572$1,246$979$765$490
22 years$1,857$1,467$1,148$890$686$428
23 years$1,758$1,372$1,060$811$616$374
24 years$1,667$1,286$980$740$553$328
25 years$1,583$1,207$908$675$498$287
26 years$1,506$1,134$842$618$448$251
27 years$1,435$1,067$782$565$404$220
28 years$1,368$1,006$727$518$365$193
29 years$1,307$949$676$475$329$170
30 years$1,250$896$630$436$298$149
31 years$1,196$847$587$400$269$131
32 years$1,146$801$548$368$243$115
33 years$1,100$759$512$338$220$101
34 years$1,056$719$478$311$199$89
35 years$1,014$682$447$287$181$78
36 years$975$648$418$264$164$69
37 years$938$615$391$243$148$61
38 years$904$585$367$224$134$53
39 years$871$556$343$207$122$47
40 years$839$529$322$191$111$41
41 years$810$503$302$176$100$36
42 years$782$479$283$162$91$32
43 years$755$457$266$150$83$28
44 years$730$435$249$138$75$25
45 years$705$415$234$128$68$22
46 years$682$396$220$118$62$19
47 years$660$378$207$109$56$17
48 years$639$361$194$101$51$15
49 years$619$345$182$93$46$13
50 years$599$329$172$86$42$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $614,000, adding $2,455 every year, while hoping to spend $37,414 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: 80/6/14 Blend
61$614,000$614,000$614,000$614,000
62$679,160$646,618$637,101$731,402
63$708,626$638,494$618,636$757,974
64$739,844$628,718$598,298$782,050
65$772,953$617,170$575,986$807,399
66$808,104$603,722$551,591$834,131
67$845,465$588,238$525,003$862,369
68$885,216$570,576$496,105$892,248
69$927,559$550,584$464,775$923,916
70$972,709$528,102$430,885$957,537
71$1,020,907$502,961$394,301$993,292
72$1,072,414$474,981$354,885$1,031,380
73$1,127,517$443,972$312,490$1,072,021
74$1,186,531$409,733$266,965$1,115,458
75$1,249,800$372,053$218,152$1,161,959
76$1,317,704$330,708$165,884$1,211,820
77$1,390,657$285,460$109,988$1,265,367
78$1,469,115$236,059$50,284$1,322,961
79$1,553,580$182,240$0$1,384,999
80$1,644,600$123,725$0$1,453,926
81$1,742,779$60,218$0$1,536,366
82$1,848,782$0$0$1,625,366
83$1,963,336$0$0$1,722,113
84$2,087,244$0$0$1,831,074
85$2,221,384$0$0$1,949,047
86$2,366,726$0$0$2,076,887
87$2,524,334$0$0$2,215,531
88$2,695,379$0$0$2,366,012
89$2,881,147$0$0$2,529,462
90$3,083,055$0$0$2,707,132
91$3,302,660$0$0$2,900,393
92$3,541,677$0$0$3,110,757
93$3,801,991$0$0$3,339,885
94$4,085,678$0$0$3,589,606
95$4,395,021$0$0$3,861,935
96$4,732,535$0$0$4,159,086
97$5,100,985$0$0$4,483,499
98$5,503,417$0$0$4,837,857
99$5,943,185$0$0$5,225,117
100$6,423,979$0$0$5,648,531