Can I retire at age 62 with 607,000?

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 $607,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$50,125$49,679$49,243$48,818$48,403$46,630
2 years$24,815$24,352$23,905$23,470$23,049$21,283
3 years$16,379$15,915$15,468$15,038$14,623$12,919
4 years$12,162$11,699$11,257$10,834$10,429$8,800
5 years$9,632$9,172$8,736$8,321$7,928$6,378
6 years$7,946$7,490$7,060$6,655$6,273$4,804
7 years$6,742$6,290$5,867$5,471$5,102$3,712
8 years$5,840$5,392$4,975$4,590$4,233$2,922
9 years$5,139$4,694$4,285$3,909$3,564$2,330
10 years$4,578$4,138$3,736$3,370$3,037$1,878
11 years$4,119$3,684$3,289$2,933$2,612$1,525
12 years$3,737$3,306$2,919$2,572$2,263$1,246
13 years$3,414$2,988$2,608$2,271$1,974$1,024
14 years$3,138$2,716$2,343$2,016$1,730$844
15 years$2,899$2,481$2,116$1,798$1,523$698
16 years$2,689$2,276$1,918$1,610$1,346$579
17 years$2,505$2,096$1,745$1,446$1,194$481
18 years$2,341$1,937$1,593$1,304$1,061$400
19 years$2,195$1,795$1,459$1,178$946$334
20 years$2,063$1,668$1,339$1,067$845$279
21 years$1,944$1,554$1,231$968$756$233
22 years$1,836$1,451$1,135$880$678$195
23 years$1,738$1,357$1,048$802$609$163
24 years$1,648$1,271$969$731$547$136
25 years$1,565$1,193$898$668$492$114
26 years$1,489$1,121$832$611$443$96
27 years$1,418$1,055$773$559$400$80
28 years$1,353$994$719$512$361$67
29 years$1,292$938$669$470$326$56
30 years$1,236$886$623$431$294$47
31 years$1,183$837$581$396$266$40
32 years$1,133$792$542$364$241$33
33 years$1,087$750$506$334$218$28
34 years$1,044$711$473$308$197$23
35 years$1,003$675$442$283$179$20
36 years$964$640$413$261$162$17
37 years$928$608$387$240$147$14
38 years$893$578$362$222$133$12
39 years$861$549$339$204$121$10
40 years$830$523$318$188$109$8
41 years$801$498$298$174$99$7
42 years$773$474$280$160$90$6
43 years$746$452$263$148$82$5
44 years$721$430$247$137$74$4
45 years$697$410$231$126$67$3
46 years$674$392$217$117$61$3
47 years$653$374$204$108$56$2
48 years$632$357$192$100$50$2
49 years$612$341$180$92$46$2
50 years$593$325$170$85$42$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $607,000, adding $5,236 every year, while hoping to spend $24,165 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: 41/36/23 Blend
61$607,000$607,000$607,000$607,000
62$674,315$642,144$632,735$697,210
63$717,384$647,898$628,221$719,858
64$764,036$653,123$622,745$741,663
65$814,610$657,770$616,250$764,781
66$869,482$661,782$608,676$789,345
67$929,062$665,102$599,959$815,506
68$993,802$667,668$590,034$843,428
69$1,064,200$669,413$578,830$873,295
70$1,140,803$670,269$566,275$905,310
71$1,224,213$670,161$552,294$939,700
72$1,315,093$669,009$536,806$976,714
73$1,414,172$666,730$519,728$1,016,632
74$1,522,253$663,235$500,974$1,059,761
75$1,640,219$658,429$480,453$1,106,444
76$1,769,042$652,213$458,069$1,157,060
77$1,909,793$644,480$433,723$1,212,028
78$2,063,650$635,118$407,311$1,271,814
79$2,231,911$624,008$378,725$1,336,934
80$2,416,005$611,023$347,851$1,407,958
81$2,617,504$596,029$314,570$1,485,518
82$2,838,140$578,886$278,759$1,570,314
83$3,079,821$559,442$240,289$1,663,121
84$3,344,648$537,540$199,023$1,764,796
85$3,634,934$513,011$154,822$1,876,288
86$3,953,226$485,677$107,538$1,998,644
87$4,302,332$455,352$57,017$2,133,027
88$4,685,341$421,836$3,098$2,280,719
89$5,105,659$384,918$0$2,443,140
90$5,567,035$344,378$0$2,635,219
91$6,073,600$299,981$0$2,847,009
92$6,629,905$251,477$0$3,079,713
93$7,240,962$198,607$0$3,335,495
94$7,912,294$141,092$0$3,616,746
95$8,649,983$78,640$0$3,926,103
96$9,460,731$10,943$0$4,266,478
97$10,351,922$0$0$4,641,082
98$11,331,689$0$0$5,078,151
99$12,408,994$0$0$5,563,585
100$13,593,711$0$0$6,097,508