Can I retire at age 62 with 619,000?

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 $619,000?

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$51,116$50,661$50,217$49,783$49,360$48,622
2 years$25,305$24,834$24,377$23,934$23,505$22,763
3 years$16,703$16,229$15,774$15,335$14,912$14,190
4 years$12,402$11,930$11,479$11,048$10,636$9,938
5 years$9,822$9,353$8,908$8,486$8,085$7,414
6 years$8,103$7,638$7,199$6,786$6,397$5,754
7 years$6,876$6,414$5,983$5,579$5,203$4,587
8 years$5,956$5,498$5,074$4,680$4,316$3,729
9 years$5,240$4,787$4,370$3,987$3,635$3,075
10 years$4,668$4,220$3,810$3,437$3,097$2,564
11 years$4,201$3,756$3,354$2,991$2,664$2,157
12 years$3,811$3,372$2,977$2,623$2,308$1,827
13 years$3,482$3,047$2,659$2,316$2,013$1,557
14 years$3,200$2,770$2,390$2,056$1,764$1,333
15 years$2,956$2,530$2,157$1,833$1,554$1,146
16 years$2,742$2,321$1,956$1,642$1,373$988
17 years$2,554$2,138$1,780$1,475$1,217$855
18 years$2,387$1,975$1,625$1,329$1,082$741
19 years$2,238$1,831$1,487$1,201$965$643
20 years$2,104$1,701$1,365$1,088$862$560
21 years$1,983$1,585$1,256$987$771$488
22 years$1,872$1,479$1,157$898$691$426
23 years$1,772$1,384$1,069$818$621$372
24 years$1,680$1,296$988$746$558$325
25 years$1,596$1,216$915$681$502$285
26 years$1,518$1,143$849$623$452$249
27 years$1,446$1,076$788$570$408$218
28 years$1,380$1,014$733$522$368$192
29 years$1,318$956$682$479$332$168
30 years$1,260$903$635$439$300$147
31 years$1,206$854$592$404$271$129
32 years$1,156$808$553$371$245$114
33 years$1,109$765$516$341$222$100
34 years$1,064$725$482$314$201$88
35 years$1,022$688$451$289$182$77
36 years$983$653$422$266$165$68
37 years$946$620$395$245$150$60
38 years$911$589$370$226$136$52
39 years$878$560$346$208$123$46
40 years$846$533$324$192$112$41
41 years$816$507$304$177$101$36
42 years$788$483$285$164$92$31
43 years$761$461$268$151$83$28
44 years$735$439$251$139$76$24
45 years$711$419$236$129$69$21
46 years$688$399$222$119$62$19
47 years$665$381$208$110$57$17
48 years$644$364$196$102$51$15
49 years$624$347$184$94$47$13
50 years$604$332$173$87$42$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $619,000, adding $3,254 every year, while hoping to spend $28,762 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: 41/32/27 Blend
61$619,000$619,000$619,000$619,000
62$685,495$652,688$643,093$708,043
63$724,812$654,067$634,034$726,002
64$767,177$654,549$623,708$742,488
65$812,868$654,061$612,041$759,779
66$862,194$652,524$598,958$777,967
67$915,493$649,853$584,378$797,154
68$973,138$645,960$568,219$817,456
69$1,035,536$640,751$550,393$839,001
70$1,103,138$634,125$530,809$861,933
71$1,176,438$625,977$509,370$886,413
72$1,255,979$616,194$485,979$912,622
73$1,342,359$604,657$460,529$940,761
74$1,436,234$591,240$432,912$971,053
75$1,538,330$575,811$403,014$1,003,750
76$1,649,440$558,226$370,716$1,039,130
77$1,770,441$538,338$335,893$1,077,503
78$1,902,296$515,986$298,415$1,119,216
79$2,046,066$491,004$258,147$1,164,653
80$2,202,916$463,215$214,947$1,214,244
81$2,374,132$432,431$168,666$1,268,463
82$2,561,127$398,454$119,150$1,327,841
83$2,765,458$361,075$66,238$1,392,965
84$2,988,839$320,071$9,760$1,464,488
85$3,233,155$275,209$0$1,543,135
86$3,500,484$226,242$0$1,644,263
87$3,793,114$172,908$0$1,758,157
88$4,113,563$114,931$0$1,883,050
89$4,464,604$52,021$0$2,020,095
90$4,849,292$0$0$2,170,568
91$5,270,992$0$0$2,341,562
92$5,733,408$0$0$2,549,231
93$6,240,620$0$0$2,777,101
94$6,797,124$0$0$3,027,200
95$7,407,870$0$0$3,301,766
96$8,078,311$0$0$3,603,259
97$8,814,455$0$0$3,934,393
98$9,622,919$0$0$4,298,156
99$10,510,991$0$0$4,697,840
100$11,486,703$0$0$5,137,072