Can I retire at age 54 with 602,000?

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 $602,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$49,713$49,270$48,838$48,416$48,004$47,742
2 years$24,610$24,152$23,708$23,277$22,859$22,594
3 years$16,244$15,784$15,340$14,914$14,503$14,244
4 years$12,061$11,603$11,164$10,745$10,344$10,092
5 years$9,553$9,097$8,664$8,253$7,863$7,620
6 years$7,881$7,428$7,002$6,600$6,222$5,988
7 years$6,687$6,238$5,818$5,426$5,060$4,835
8 years$5,792$5,347$4,934$4,552$4,198$3,982
9 years$5,096$4,656$4,250$3,877$3,535$3,328
10 years$4,540$4,104$3,705$3,342$3,012$2,814
11 years$4,085$3,653$3,262$2,909$2,590$2,401
12 years$3,707$3,279$2,895$2,551$2,245$2,064
13 years$3,386$2,963$2,586$2,252$1,958$1,785
14 years$3,112$2,694$2,324$1,999$1,716$1,552
15 years$2,875$2,461$2,098$1,783$1,511$1,355
16 years$2,667$2,258$1,902$1,597$1,335$1,187
17 years$2,484$2,079$1,731$1,435$1,184$1,043
18 years$2,322$1,921$1,580$1,293$1,053$919
19 years$2,177$1,781$1,447$1,168$938$812
20 years$2,046$1,655$1,328$1,058$838$718
21 years$1,928$1,541$1,221$960$750$637
22 years$1,821$1,439$1,125$873$672$565
23 years$1,723$1,346$1,039$795$604$503
24 years$1,634$1,261$961$725$542$447
25 years$1,552$1,183$890$662$488$399
26 years$1,476$1,112$826$606$440$355
27 years$1,407$1,046$767$554$396$317
28 years$1,342$986$713$508$358$283
29 years$1,282$930$663$466$323$253
30 years$1,225$878$618$427$292$226
31 years$1,173$830$576$393$264$203
32 years$1,124$786$537$361$239$181
33 years$1,078$744$502$332$216$162
34 years$1,035$705$469$305$196$145
35 years$994$669$438$281$177$130
36 years$956$635$410$259$160$117
37 years$920$603$384$238$145$105
38 years$886$573$359$220$132$94
39 years$854$545$337$203$120$84
40 years$823$518$316$187$108$76
41 years$794$494$296$172$98$68
42 years$766$470$278$159$89$61
43 years$740$448$260$147$81$55
44 years$715$427$244$136$74$49
45 years$691$407$230$125$67$44
46 years$669$388$216$116$61$39
47 years$647$371$203$107$55$35
48 years$626$354$190$99$50$32
49 years$607$338$179$91$45$29
50 years$588$323$168$84$41$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $602,000, adding $6,612 every year, while hoping to spend $47,044 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: 31/44/25 Blend
53$602,000$602,000$602,000$602,000
54$670,224$638,318$628,987$685,679
55$688,533$619,541$600,004$679,279
56$707,132$598,268$568,473$667,764
57$726,002$574,325$534,259$654,420
58$745,119$547,532$497,222$639,118
59$764,455$517,696$457,213$621,721
60$783,979$484,612$414,079$602,086
61$803,653$448,066$367,659$580,059
62$823,435$407,831$317,785$555,476
63$843,275$363,664$264,280$528,165
64$863,119$315,313$206,963$497,942
65$882,902$262,508$145,641$464,612
66$902,553$204,966$80,115$427,968
67$921,990$142,387$10,176$387,790
68$941,122$74,453$0$343,844
69$959,847$831$0$313,078
70$978,047$0$0$282,047
71$995,593$0$0$285,986
72$1,012,339$0$0$290,001
73$1,028,121$0$0$293,634
74$1,042,758$0$0$296,820
75$1,056,046$0$0$299,488
76$1,067,757$0$0$301,559
77$1,077,638$0$0$302,943
78$1,085,408$0$0$303,544
79$1,090,753$0$0$303,251
80$1,093,323$0$0$301,944
81$1,092,733$0$0$299,489
82$1,088,551$0$0$295,735
83$1,080,299$0$0$290,518
84$1,067,448$0$0$283,654
85$1,049,411$0$0$274,940
86$1,025,536$0$0$264,152
87$995,102$0$0$251,040
88$957,310$0$0$235,329
89$911,276$0$0$216,714
90$856,020$0$0$194,858
91$790,459$0$0$169,387
92$713,396$0$0$139,890
93$623,505$0$0$105,912
94$519,322$0$0$66,947
95$399,226$0$0$22,440
96$261,430$0$0$0
97$103,955$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0