Can I retire at age 62 with 616,000?

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 $616,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$50,869$50,416$49,974$49,542$49,121$48,188
2 years$25,183$24,714$24,259$23,818$23,391$22,455
3 years$16,622$16,151$15,697$15,261$14,840$13,930
4 years$12,342$11,872$11,424$10,994$10,584$9,707
5 years$9,775$9,308$8,865$8,445$8,046$7,204
6 years$8,064$7,601$7,164$6,753$6,366$5,561
7 years$6,842$6,383$5,954$5,552$5,178$4,408
8 years$5,927$5,471$5,049$4,658$4,295$3,562
9 years$5,215$4,764$4,349$3,967$3,617$2,920
10 years$4,646$4,199$3,791$3,420$3,082$2,420
11 years$4,180$3,738$3,338$2,976$2,651$2,023
12 years$3,793$3,355$2,962$2,611$2,297$1,703
13 years$3,465$3,032$2,647$2,305$2,003$1,442
14 years$3,184$2,756$2,378$2,046$1,756$1,226
15 years$2,942$2,518$2,147$1,825$1,546$1,047
16 years$2,729$2,310$1,947$1,634$1,366$896
17 years$2,542$2,127$1,771$1,468$1,212$770
18 years$2,376$1,966$1,617$1,323$1,077$662
19 years$2,227$1,822$1,480$1,195$960$571
20 years$2,094$1,693$1,359$1,083$858$493
21 years$1,973$1,577$1,250$983$767$427
22 years$1,863$1,472$1,152$893$688$369
23 years$1,764$1,377$1,063$814$618$320
24 years$1,672$1,290$983$742$555$278
25 years$1,588$1,211$911$678$499$241
26 years$1,511$1,138$845$620$450$210
27 years$1,439$1,071$784$567$406$182
28 years$1,373$1,009$729$520$366$158
29 years$1,311$952$679$477$330$138
30 years$1,254$899$632$437$299$120
31 years$1,200$850$589$402$270$104
32 years$1,150$804$550$369$244$91
33 years$1,103$761$513$339$221$79
34 years$1,059$722$480$312$200$69
35 years$1,017$685$448$288$181$60
36 years$978$650$420$265$164$52
37 years$941$617$393$244$149$46
38 years$907$586$368$225$135$40
39 years$873$558$345$207$122$35
40 years$842$531$323$191$111$30
41 years$812$505$303$176$101$26
42 years$784$481$284$163$91$23
43 years$757$458$267$150$83$20
44 years$732$437$250$139$75$18
45 years$708$417$235$128$68$15
46 years$684$397$221$118$62$13
47 years$662$379$207$109$56$12
48 years$641$362$195$101$51$10
49 years$621$346$183$93$46$9
50 years$601$330$172$86$42$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $616,000, adding $4,045 every year, while hoping to spend $30,641 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: 39/32/29 Blend
61$616,000$616,000$616,000$616,000
62$683,004$650,356$640,808$703,641
63$720,069$649,622$629,674$718,384
64$759,887$647,825$617,139$731,204
65$802,708$644,880$603,125$744,488
66$848,803$640,699$587,549$758,298
67$898,473$635,185$570,324$772,705
68$952,047$628,239$551,360$787,790
69$1,009,887$619,753$530,561$803,644
70$1,072,388$609,614$507,828$820,370
71$1,139,989$597,703$483,057$838,084
72$1,213,170$583,891$456,141$856,918
73$1,292,457$568,046$426,965$877,019
74$1,378,430$550,023$395,412$898,553
75$1,471,729$529,673$361,357$921,707
76$1,573,054$506,836$324,671$946,691
77$1,683,178$481,343$285,220$973,738
78$1,802,948$453,015$242,861$1,003,112
79$1,933,300$421,664$197,448$1,035,106
80$2,075,261$387,090$148,827$1,070,050
81$2,229,963$349,082$96,838$1,108,310
82$2,398,649$307,417$41,312$1,150,297
83$2,582,689$261,859$0$1,196,467
84$2,783,593$212,159$0$1,252,884
85$3,003,019$158,054$0$1,328,565
86$3,242,794$99,266$0$1,411,405
87$3,504,931$35,502$0$1,502,170
88$3,791,644$0$0$1,601,708
89$4,105,371$0$0$1,722,769
90$4,448,799$0$0$1,869,056
91$4,824,884$0$0$2,029,337
92$5,236,882$0$0$2,205,010
93$5,688,380$0$0$2,397,615
94$6,183,326$0$0$2,608,848
95$6,726,071$0$0$2,840,578
96$7,321,406$0$0$3,094,861
97$7,974,606$0$0$3,373,964
98$8,691,486$0$0$3,680,383
99$9,478,446$0$0$4,016,869
100$10,342,540$0$0$4,386,451