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%13.6%
1 years$50,869$50,416$49,974$49,542$49,121$48,387
2 years$25,183$24,714$24,259$23,818$23,391$22,653
3 years$16,622$16,151$15,697$15,261$14,840$14,121
4 years$12,342$11,872$11,424$10,994$10,584$9,890
5 years$9,775$9,308$8,865$8,445$8,046$7,378
6 years$8,064$7,601$7,164$6,753$6,366$5,726
7 years$6,842$6,383$5,954$5,552$5,178$4,565
8 years$5,927$5,471$5,049$4,658$4,295$3,711
9 years$5,215$4,764$4,349$3,967$3,617$3,060
10 years$4,646$4,199$3,791$3,420$3,082$2,551
11 years$4,180$3,738$3,338$2,976$2,651$2,146
12 years$3,793$3,355$2,962$2,611$2,297$1,818
13 years$3,465$3,032$2,647$2,305$2,003$1,549
14 years$3,184$2,756$2,378$2,046$1,756$1,327
15 years$2,942$2,518$2,147$1,825$1,546$1,140
16 years$2,729$2,310$1,947$1,634$1,366$983
17 years$2,542$2,127$1,771$1,468$1,212$850
18 years$2,376$1,966$1,617$1,323$1,077$737
19 years$2,227$1,822$1,480$1,195$960$640
20 years$2,094$1,693$1,359$1,083$858$557
21 years$1,973$1,577$1,250$983$767$486
22 years$1,863$1,472$1,152$893$688$424
23 years$1,764$1,377$1,063$814$618$370
24 years$1,672$1,290$983$742$555$324
25 years$1,588$1,211$911$678$499$283
26 years$1,511$1,138$845$620$450$248
27 years$1,439$1,071$784$567$406$217
28 years$1,373$1,009$729$520$366$191
29 years$1,311$952$679$477$330$167
30 years$1,254$899$632$437$299$147
31 years$1,200$850$589$402$270$129
32 years$1,150$804$550$369$244$113
33 years$1,103$761$513$339$221$99
34 years$1,059$722$480$312$200$87
35 years$1,017$685$448$288$181$77
36 years$978$650$420$265$164$67
37 years$941$617$393$244$149$59
38 years$907$586$368$225$135$52
39 years$873$558$345$207$122$46
40 years$842$531$323$191$111$40
41 years$812$505$303$176$101$35
42 years$784$481$284$163$91$31
43 years$757$458$267$150$83$27
44 years$732$437$250$139$75$24
45 years$708$417$235$128$68$21
46 years$684$397$221$118$62$19
47 years$662$379$207$109$56$16
48 years$641$362$195$101$51$14
49 years$621$346$183$93$46$13
50 years$601$330$172$86$42$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $616,000, adding $4,103 every year, while hoping to spend $42,194 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: 67/17/16 Blend
61$616,000$616,000$616,000$616,000
62$683,064$650,416$640,868$725,949
63$707,843$637,393$617,443$742,078
64$733,734$622,317$591,819$754,385
65$760,808$605,043$563,878$766,794
66$789,139$585,419$533,497$779,311
67$818,808$563,280$500,545$791,947
68$849,901$538,457$464,889$804,714
69$882,515$510,765$426,386$817,624
70$916,753$480,013$384,891$830,697
71$952,725$445,997$340,248$843,953
72$990,554$408,502$292,298$857,417
73$1,030,372$367,300$240,872$871,118
74$1,072,323$322,151$185,794$885,091
75$1,116,565$272,801$126,882$899,377
76$1,163,267$218,981$63,945$914,022
77$1,212,616$160,407$0$929,081
78$1,264,815$96,780$0$945,166
79$1,320,088$27,783$0$973,483
80$1,378,675$0$0$1,003,226
81$1,440,842$0$0$1,043,302
82$1,506,879$0$0$1,091,413
83$1,577,102$0$0$1,142,595
84$1,651,859$0$0$1,197,102
85$1,731,528$0$0$1,255,216
86$1,816,526$0$0$1,317,241
87$1,907,307$0$0$1,383,513
88$2,004,372$0$0$1,454,401
89$2,108,266$0$0$1,530,307
90$2,219,590$0$0$1,611,673
91$2,339,002$0$0$1,698,985
92$2,467,224$0$0$1,792,774
93$2,605,048$0$0$1,893,626
94$2,753,345$0$0$2,002,181
95$2,913,070$0$0$2,119,144
96$3,085,271$0$0$2,245,289
97$3,271,101$0$0$2,381,465
98$3,471,826$0$0$2,528,607
99$3,688,839$0$0$2,687,740
100$3,923,667$0$0$2,859,993