Can I retire at age 54 with 601,000?

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 $601,000?

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 years$49,630$49,188$48,757$48,336$47,925$46,187
2 years$24,569$24,112$23,668$23,238$22,821$21,090
3 years$16,217$15,757$15,315$14,889$14,479$12,808
4 years$12,041$11,583$11,145$10,727$10,326$8,729
5 years$9,537$9,081$8,649$8,239$7,850$6,330
6 years$7,868$7,416$6,990$6,589$6,211$4,770
7 years$6,676$6,228$5,809$5,417$5,052$3,688
8 years$5,782$5,338$4,926$4,544$4,191$2,905
9 years$5,088$4,648$4,243$3,871$3,529$2,318
10 years$4,533$4,097$3,699$3,337$3,007$1,869
11 years$4,078$3,647$3,257$2,904$2,586$1,519
12 years$3,700$3,274$2,890$2,547$2,241$1,242
13 years$3,381$2,958$2,582$2,249$1,954$1,021
14 years$3,107$2,689$2,320$1,996$1,713$842
15 years$2,870$2,456$2,095$1,780$1,508$697
16 years$2,663$2,254$1,899$1,594$1,333$578
17 years$2,480$2,076$1,728$1,432$1,182$481
18 years$2,318$1,918$1,578$1,291$1,051$401
19 years$2,173$1,778$1,444$1,166$937$334
20 years$2,043$1,652$1,325$1,056$837$279
21 years$1,925$1,539$1,219$959$749$233
22 years$1,818$1,436$1,124$872$671$195
23 years$1,721$1,343$1,037$794$602$164
24 years$1,631$1,259$959$724$542$137
25 years$1,549$1,181$889$661$487$115
26 years$1,474$1,110$824$605$439$96
27 years$1,404$1,045$765$553$396$81
28 years$1,339$984$711$507$357$68
29 years$1,279$929$662$465$322$57
30 years$1,223$877$617$427$291$48
31 years$1,171$829$575$392$263$40
32 years$1,122$784$536$360$238$34
33 years$1,076$743$501$331$216$28
34 years$1,033$704$468$305$195$24
35 years$993$668$438$281$177$20
36 years$955$634$409$258$160$17
37 years$918$602$383$238$145$14
38 years$884$572$359$219$132$12
39 years$852$544$336$202$119$10
40 years$822$518$315$187$108$8
41 years$793$493$295$172$98$7
42 years$765$469$277$159$89$6
43 years$739$447$260$147$81$5
44 years$714$426$244$135$73$4
45 years$690$406$229$125$67$3
46 years$668$388$215$116$61$3
47 years$646$370$202$107$55$2
48 years$625$353$190$99$50$2
49 years$606$337$179$91$45$2
50 years$587$322$168$84$41$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $601,000, adding $3,062 every year, while hoping to spend $36,128 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: 55/27/18 Blend
53$601,000$601,000$601,000$601,000
54$665,460$633,607$624,292$698,691
55$694,898$626,214$606,766$714,314
56$726,126$617,248$587,442$727,198
57$759,291$606,593$566,221$740,428
58$794,551$594,128$543,002$754,046
59$832,078$579,724$517,675$768,100
60$872,062$563,242$490,129$782,646
61$914,711$544,539$460,247$797,745
62$960,251$523,461$427,905$813,471
63$1,008,932$499,846$392,975$829,903
64$1,061,026$473,522$355,323$847,134
65$1,116,834$444,308$314,809$865,268
66$1,176,682$412,010$271,287$884,423
67$1,240,932$376,427$224,603$904,730
68$1,309,979$337,344$174,599$926,340
69$1,384,256$294,533$121,107$949,420
70$1,464,241$247,755$63,955$974,158
71$1,550,455$196,757$2,959$1,000,767
72$1,643,475$141,272$0$1,029,484
73$1,743,931$81,016$0$1,072,508
74$1,852,518$15,691$0$1,119,587
75$1,969,998$0$0$1,170,523
76$2,097,209$0$0$1,242,077
77$2,235,073$0$0$1,324,721
78$2,384,604$0$0$1,414,408
79$2,546,916$0$0$1,511,812
80$2,723,234$0$0$1,617,675
81$2,914,908$0$0$1,732,813
82$3,123,421$0$0$1,858,124
83$3,350,405$0$0$1,994,597
84$3,597,655$0$0$2,143,319
85$3,867,149$0$0$2,305,486
86$4,161,060$0$0$2,482,417
87$4,481,784$0$0$2,675,560
88$4,831,955$0$0$2,886,512
89$5,214,473$0$0$3,117,029
90$5,632,533$0$0$3,369,046
91$6,089,649$0$0$3,644,692
92$6,589,694$0$0$3,946,312
93$7,136,928$0$0$4,276,488
94$7,736,045$0$0$4,638,063
95$8,392,213$0$0$5,034,168
96$9,111,124$0$0$5,468,251
97$9,899,046$0$0$5,944,109
98$10,762,881$0$0$6,465,925
99$11,710,232$0$0$7,038,304
100$12,749,473$0$0$7,666,322