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%14.3%
1 years$50,951$50,497$50,055$49,622$49,200$48,326
2 years$25,223$24,754$24,298$23,857$23,429$22,551
3 years$16,649$16,177$15,723$15,285$14,864$14,010
4 years$12,362$11,892$11,442$11,012$10,601$9,777
5 years$9,791$9,323$8,880$8,458$8,059$7,268
6 years$8,077$7,613$7,176$6,764$6,377$5,619
7 years$6,854$6,393$5,963$5,561$5,186$4,462
8 years$5,936$5,480$5,057$4,665$4,302$3,612
9 years$5,223$4,772$4,356$3,974$3,623$2,966
10 years$4,653$4,206$3,798$3,425$3,087$2,463
11 years$4,187$3,744$3,343$2,981$2,655$2,063
12 years$3,799$3,361$2,967$2,615$2,301$1,740
13 years$3,471$3,037$2,651$2,309$2,006$1,476
14 years$3,190$2,761$2,382$2,049$1,759$1,257
15 years$2,946$2,522$2,150$1,828$1,549$1,076
16 years$2,734$2,314$1,950$1,636$1,369$923
17 years$2,546$2,131$1,774$1,470$1,213$794
18 years$2,380$1,969$1,620$1,325$1,079$685
19 years$2,231$1,825$1,483$1,197$962$592
20 years$2,097$1,696$1,361$1,084$859$512
21 years$1,976$1,580$1,252$984$769$444
22 years$1,866$1,474$1,154$895$689$386
23 years$1,766$1,379$1,065$815$619$335
24 years$1,675$1,292$985$743$556$291
25 years$1,591$1,213$912$679$500$254
26 years$1,513$1,140$846$621$451$221
27 years$1,442$1,072$786$568$406$192
28 years$1,375$1,011$730$520$367$168
29 years$1,313$953$680$477$331$146
30 years$1,256$900$633$438$299$128
31 years$1,202$851$590$402$270$111
32 years$1,152$805$551$370$245$97
33 years$1,105$763$514$340$221$85
34 years$1,061$723$480$313$200$74
35 years$1,019$686$449$288$182$65
36 years$980$651$420$265$164$57
37 years$943$618$393$244$149$50
38 years$908$587$368$225$135$43
39 years$875$559$345$208$123$38
40 years$844$531$323$192$111$33
41 years$814$506$303$177$101$29
42 years$786$482$284$163$92$25
43 years$759$459$267$151$83$22
44 years$733$438$251$139$75$19
45 years$709$417$235$128$68$17
46 years$685$398$221$119$62$15
47 years$663$380$208$110$56$13
48 years$642$363$195$101$51$11
49 years$622$346$183$94$47$10
50 years$602$331$172$86$42$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $617,000, adding $6,486 every year, while hoping to spend $34,277 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: 60/30/10 Blend
61$617,000$617,000$617,000$617,000
62$686,624$653,923$644,360$725,850
63$720,190$649,495$629,475$748,532
64$756,030$643,701$612,944$768,789
65$794,340$636,438$594,673$790,040
66$835,336$627,597$574,568$812,383
67$879,253$617,062$552,528$835,927
68$926,349$604,710$528,450$860,795
69$976,907$590,411$502,224$887,120
70$1,031,238$574,028$473,735$915,053
71$1,089,684$555,414$442,864$944,762
72$1,152,619$534,417$409,487$976,434
73$1,220,454$510,871$373,473$1,010,275
74$1,293,642$484,606$334,686$1,046,517
75$1,372,679$455,437$292,984$1,085,415
76$1,458,112$423,173$248,218$1,127,255
77$1,550,539$387,608$200,233$1,172,352
78$1,650,620$348,527$148,867$1,221,059
79$1,759,080$305,702$93,951$1,273,765
80$1,876,716$258,891$35,308$1,330,904
81$2,004,405$207,841$0$1,392,955
82$2,143,110$152,281$0$1,463,363
83$2,293,893$91,927$0$1,544,017
84$2,457,918$26,481$0$1,631,823
85$2,636,471$0$0$1,727,531
86$2,830,964$0$0$1,846,617
87$3,042,950$0$0$1,985,988
88$3,274,141$0$0$2,138,032
89$3,526,419$0$0$2,303,993
90$3,801,855$0$0$2,485,240
91$4,102,733$0$0$2,683,281
92$4,431,562$0$0$2,899,775
93$4,791,107$0$0$3,136,550
94$5,184,413$0$0$3,395,617
95$5,614,832$0$0$3,679,192
96$6,086,055$0$0$3,989,714
97$6,602,145$0$0$4,329,870
98$7,167,578$0$0$4,702,617
99$7,787,284$0$0$5,111,215
100$8,466,692$0$0$5,559,250