That's an excellent psu, great choice.
As for how many watts you actually need, it's best to add up the thermal design power (TDP) of each component, especially the CPU/GPU as they use the most. So something like this:
i5-4690K TDP is 88W
R9 290 TDP is 275 W
rest of system 100W
So at 100% load your system actually only needs about 463W
But it's always a good idea to add overhead of around 150W or so, so your PSU isn't working so hard.
So adding in that 150W of overhead gives you 613W. The PSU you bought is exactly the right amount.