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%13.2%
1 years$49,630$49,188$48,757$48,336$47,925$47,287
2 years$24,569$24,112$23,668$23,238$22,821$22,179
3 years$16,217$15,757$15,315$14,889$14,479$13,853
4 years$12,041$11,583$11,145$10,727$10,326$9,722
5 years$9,537$9,081$8,649$8,239$7,850$7,268
6 years$7,868$7,416$6,990$6,589$6,211$5,653
7 years$6,676$6,228$5,809$5,417$5,052$4,517
8 years$5,782$5,338$4,926$4,544$4,191$3,680
9 years$5,088$4,648$4,243$3,871$3,529$3,041
10 years$4,533$4,097$3,699$3,337$3,007$2,542
11 years$4,078$3,647$3,257$2,904$2,586$2,144
12 years$3,700$3,274$2,890$2,547$2,241$1,821
13 years$3,381$2,958$2,582$2,249$1,954$1,556
14 years$3,107$2,689$2,320$1,996$1,713$1,336
15 years$2,870$2,456$2,095$1,780$1,508$1,151
16 years$2,663$2,254$1,899$1,594$1,333$995
17 years$2,480$2,076$1,728$1,432$1,182$863
18 years$2,318$1,918$1,578$1,291$1,051$751
19 years$2,173$1,778$1,444$1,166$937$654
20 years$2,043$1,652$1,325$1,056$837$571
21 years$1,925$1,539$1,219$959$749$499
22 years$1,818$1,436$1,124$872$671$437
23 years$1,721$1,343$1,037$794$602$383
24 years$1,631$1,259$959$724$542$336
25 years$1,549$1,181$889$661$487$295
26 years$1,474$1,110$824$605$439$259
27 years$1,404$1,045$765$553$396$228
28 years$1,339$984$711$507$357$200
29 years$1,279$929$662$465$322$176
30 years$1,223$877$617$427$291$155
31 years$1,171$829$575$392$263$137
32 years$1,122$784$536$360$238$120
33 years$1,076$743$501$331$216$106
34 years$1,033$704$468$305$195$94
35 years$993$668$438$281$177$82
36 years$955$634$409$258$160$73
37 years$918$602$383$238$145$64
38 years$884$572$359$219$132$57
39 years$852$544$336$202$119$50
40 years$822$518$315$187$108$44
41 years$793$493$295$172$98$39
42 years$765$469$277$159$89$34
43 years$739$447$260$147$81$30
44 years$714$426$244$135$73$27
45 years$690$406$229$125$67$24
46 years$668$388$215$116$61$21
47 years$646$370$202$107$55$18
48 years$625$353$190$99$50$16
49 years$606$337$179$91$45$14
50 years$587$322$168$84$41$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $601,000, adding $6,751 every year, while hoping to spend $27,751 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: 66/18/16 Blend
53$601,000$601,000$601,000$601,000
54$669,266$637,413$628,097$710,421
55$708,004$639,119$619,612$740,489
56$749,763$639,979$609,912$769,496
57$794,823$639,922$598,927$800,520
58$843,489$638,872$586,585$833,757
59$896,098$636,750$572,809$869,425
60$953,020$633,471$557,519$907,764
61$1,014,663$628,945$540,630$949,039
62$1,081,472$623,077$522,055$993,543
63$1,153,940$615,766$501,702$1,041,598
64$1,232,609$606,905$479,475$1,093,564
65$1,318,071$596,380$455,274$1,149,834
66$1,410,983$584,071$428,994$1,210,844
67$1,512,064$569,851$400,526$1,277,076
68$1,622,105$553,584$369,754$1,349,061
69$1,741,978$535,129$336,560$1,427,387
70$1,872,643$514,333$300,817$1,512,702
71$2,015,154$491,037$262,397$1,605,722
72$2,170,674$465,072$221,161$1,707,238
73$2,340,481$436,259$176,968$1,818,122
74$2,525,983$404,409$129,670$1,939,339
75$2,728,730$369,321$79,110$2,071,951
76$2,950,427$330,784$25,127$2,217,134
77$3,192,954$288,576$0$2,376,183
78$3,458,378$242,459$0$2,556,075
79$3,748,977$192,184$0$2,757,782
80$4,067,259$137,487$0$2,978,783
81$4,415,987$78,092$0$3,221,035
82$4,798,202$13,702$0$3,486,695
83$5,217,253$0$0$3,778,140
84$5,676,832$0$0$4,109,082
85$6,181,001$0$0$4,475,151
86$6,734,237$0$0$4,876,887
87$7,341,471$0$0$5,317,877
88$8,008,133$0$0$5,802,070
89$8,740,206$0$0$6,333,816
90$9,544,282$0$0$6,917,908
91$10,427,619$0$0$7,559,625
92$11,398,215$0$0$8,264,785
93$12,464,882$0$0$9,039,794
94$13,637,327$0$0$9,891,713
95$14,926,244$0$0$10,828,318
96$16,343,414$0$0$11,858,177
97$17,901,819$0$0$12,990,731
98$19,615,759$0$0$14,236,381
99$21,500,991$0$0$15,606,586
100$23,574,877$0$0$17,113,972