Can I retire at age 54 with 601,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%19.5%
1 years$49,630$49,188$48,757$48,336$47,925$46,096
2 years$24,569$24,112$23,668$23,238$22,821$21,000
3 years$16,217$15,757$15,315$14,889$14,479$12,723
4 years$12,041$11,583$11,145$10,727$10,326$8,649
5 years$9,537$9,081$8,649$8,239$7,850$6,256
6 years$7,868$7,416$6,990$6,589$6,211$4,701
7 years$6,676$6,228$5,809$5,417$5,052$3,625
8 years$5,782$5,338$4,926$4,544$4,191$2,846
9 years$5,088$4,648$4,243$3,871$3,529$2,264
10 years$4,533$4,097$3,699$3,337$3,007$1,820
11 years$4,078$3,647$3,257$2,904$2,586$1,474
12 years$3,700$3,274$2,890$2,547$2,241$1,202
13 years$3,381$2,958$2,582$2,249$1,954$984
14 years$3,107$2,689$2,320$1,996$1,713$809
15 years$2,870$2,456$2,095$1,780$1,508$667
16 years$2,663$2,254$1,899$1,594$1,333$552
17 years$2,480$2,076$1,728$1,432$1,182$457
18 years$2,318$1,918$1,578$1,291$1,051$379
19 years$2,173$1,778$1,444$1,166$937$315
20 years$2,043$1,652$1,325$1,056$837$262
21 years$1,925$1,539$1,219$959$749$218
22 years$1,818$1,436$1,124$872$671$182
23 years$1,721$1,343$1,037$794$602$152
24 years$1,631$1,259$959$724$542$127
25 years$1,549$1,181$889$661$487$106
26 years$1,474$1,110$824$605$439$88
27 years$1,404$1,045$765$553$396$74
28 years$1,339$984$711$507$357$62
29 years$1,279$929$662$465$322$52
30 years$1,223$877$617$427$291$43
31 years$1,171$829$575$392$263$36
32 years$1,122$784$536$360$238$30
33 years$1,076$743$501$331$216$25
34 years$1,033$704$468$305$195$21
35 years$993$668$438$281$177$18
36 years$955$634$409$258$160$15
37 years$918$602$383$238$145$12
38 years$884$572$359$219$132$10
39 years$852$544$336$202$119$9
40 years$822$518$315$187$108$7
41 years$793$493$295$172$98$6
42 years$765$469$277$159$89$5
43 years$739$447$260$147$81$4
44 years$714$426$244$135$73$4
45 years$690$406$229$125$67$3
46 years$668$388$215$116$61$2
47 years$646$370$202$107$55$2
48 years$625$353$190$99$50$2
49 years$606$337$179$91$45$1
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 $2,888 every year, while hoping to spend $45,942 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: 75/7/18 Blend
53$601,000$601,000$601,000$601,000
54$665,281$633,428$624,112$712,215
55$684,258$615,584$596,138$725,843
56$703,630$595,326$565,687$734,834
57$723,391$572,487$532,628$743,476
58$743,528$546,890$496,822$751,720
59$764,030$518,350$458,128$759,515
60$784,879$486,668$416,394$766,807
61$806,058$451,635$371,463$773,535
62$827,541$413,031$323,173$779,632
63$849,303$370,622$271,352$785,029
64$871,312$324,162$215,822$789,646
65$893,529$273,390$156,396$793,401
66$915,913$218,030$92,879$796,201
67$938,415$157,791$25,069$797,946
68$960,977$92,368$0$798,529
69$983,537$21,433$0$806,916
70$1,006,020$0$0$819,622
71$1,028,345$0$0$835,997
72$1,050,418$0$0$853,802
73$1,072,134$0$0$871,297
74$1,093,374$0$0$888,385
75$1,114,005$0$0$904,955
76$1,133,877$0$0$920,882
77$1,152,822$0$0$936,028
78$1,170,653$0$0$950,237
79$1,187,161$0$0$963,336
80$1,202,112$0$0$975,130
81$1,215,244$0$0$985,404
82$1,226,266$0$0$993,915
83$1,234,856$0$0$1,000,398
84$1,240,652$0$0$1,004,552
85$1,243,255$0$0$1,006,046
86$1,242,219$0$0$1,004,512
87$1,237,050$0$0$999,541
88$1,227,199$0$0$990,679
89$1,212,059$0$0$977,423
90$1,190,955$0$0$959,213
91$1,163,139$0$0$935,432
92$1,127,783$0$0$905,394
93$1,083,970$0$0$868,341
94$1,030,684$0$0$823,432
95$966,802$0$0$769,738
96$891,080$0$0$706,230
97$802,142$0$0$631,771
98$698,469$0$0$545,102
99$578,378$0$0$444,832
100$440,010$0$0$329,426