Can I retire at age 62 with 617,000?

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 $617,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$50,951$50,497$50,055$49,622$49,200$48,931
2 years$25,223$24,754$24,298$23,857$23,429$23,157
3 years$16,649$16,177$15,723$15,285$14,864$14,599
4 years$12,362$11,892$11,442$11,012$10,601$10,344
5 years$9,791$9,323$8,880$8,458$8,059$7,810
6 years$8,077$7,613$7,176$6,764$6,377$6,137
7 years$6,854$6,393$5,963$5,561$5,186$4,956
8 years$5,936$5,480$5,057$4,665$4,302$4,081
9 years$5,223$4,772$4,356$3,974$3,623$3,411
10 years$4,653$4,206$3,798$3,425$3,087$2,884
11 years$4,187$3,744$3,343$2,981$2,655$2,461
12 years$3,799$3,361$2,967$2,615$2,301$2,116
13 years$3,471$3,037$2,651$2,309$2,006$1,830
14 years$3,190$2,761$2,382$2,049$1,759$1,590
15 years$2,946$2,522$2,150$1,828$1,549$1,388
16 years$2,734$2,314$1,950$1,636$1,369$1,216
17 years$2,546$2,131$1,774$1,470$1,213$1,069
18 years$2,380$1,969$1,620$1,325$1,079$942
19 years$2,231$1,825$1,483$1,197$962$832
20 years$2,097$1,696$1,361$1,084$859$736
21 years$1,976$1,580$1,252$984$769$653
22 years$1,866$1,474$1,154$895$689$580
23 years$1,766$1,379$1,065$815$619$515
24 years$1,675$1,292$985$743$556$459
25 years$1,591$1,213$912$679$500$409
26 years$1,513$1,140$846$621$451$364
27 years$1,442$1,072$786$568$406$325
28 years$1,375$1,011$730$520$367$290
29 years$1,313$953$680$477$331$260
30 years$1,256$900$633$438$299$232
31 years$1,202$851$590$402$270$208
32 years$1,152$805$551$370$245$186
33 years$1,105$763$514$340$221$166
34 years$1,061$723$480$313$200$149
35 years$1,019$686$449$288$182$134
36 years$980$651$420$265$164$120
37 years$943$618$393$244$149$107
38 years$908$587$368$225$135$96
39 years$875$559$345$208$123$86
40 years$844$531$323$192$111$77
41 years$814$506$303$177$101$69
42 years$786$482$284$163$92$62
43 years$759$459$267$151$83$56
44 years$733$438$251$139$75$50
45 years$709$417$235$128$68$45
46 years$685$398$221$119$62$40
47 years$663$380$208$110$56$36
48 years$642$363$195$101$51$33
49 years$622$346$183$94$47$29
50 years$602$331$172$86$42$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $617,000, adding $2,405 every year, while hoping to spend $29,120 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: 65/26/9 Blend
61$617,000$617,000$617,000$617,000
62$682,415$649,714$640,150$725,357
63$721,038$650,566$630,612$755,113
64$762,624$650,485$619,778$783,952
65$807,446$649,392$607,574$814,707
66$855,800$647,208$593,923$847,563
67$908,016$643,845$578,744$882,724
68$964,453$639,213$561,951$920,416
69$1,025,507$633,214$543,457$960,886
70$1,091,613$625,746$523,166$1,004,409
71$1,163,249$616,699$500,984$1,051,291
72$1,240,941$605,958$476,808$1,101,866
73$1,325,268$593,400$450,531$1,156,506
74$1,416,864$578,896$422,043$1,215,621
75$1,516,431$562,309$391,229$1,279,663
76$1,624,738$543,493$357,966$1,349,133
77$1,742,632$522,294$322,128$1,424,585
78$1,871,044$498,550$283,582$1,506,629
79$2,010,999$472,088$242,192$1,595,940
80$2,163,628$442,727$197,812$1,693,263
81$2,330,171$410,274$150,291$1,799,422
82$2,511,995$374,524$99,473$1,915,325
83$2,710,606$335,264$45,193$2,041,978
84$2,927,661$292,265$0$2,180,489
85$3,164,984$245,287$0$2,333,306
86$3,424,582$194,076$0$2,505,268
87$3,708,668$138,364$0$2,693,541
88$4,019,676$77,868$0$2,899,794
89$4,360,288$12,288$0$3,125,865
90$4,733,456$0$0$3,373,783
91$5,142,432$0$0$3,662,577
92$5,590,799$0$0$3,983,082
93$6,082,499$0$0$4,334,606
94$6,621,879$0$0$4,720,262
95$7,213,722$0$0$5,143,475
96$7,863,300$0$0$5,608,021
97$8,576,420$0$0$6,118,058
98$9,359,476$0$0$6,678,166
99$10,219,514$0$0$7,293,391
100$11,164,295$0$0$7,969,292