Can I retire at age 54 with 605,000?

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 $605,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$49,960$49,515$49,081$48,657$48,244$46,569
2 years$24,733$24,272$23,826$23,393$22,973$21,303
3 years$16,325$15,862$15,417$14,988$14,575$12,962
4 years$12,122$11,660$11,220$10,798$10,395$8,852
5 years$9,600$9,142$8,707$8,294$7,902$6,433
6 years$7,920$7,465$7,036$6,633$6,253$4,858
7 years$6,720$6,269$5,847$5,453$5,085$3,765
8 years$5,821$5,374$4,959$4,575$4,219$2,972
9 years$5,122$4,679$4,271$3,896$3,553$2,378
10 years$4,563$4,124$3,724$3,359$3,027$1,922
11 years$4,106$3,672$3,278$2,923$2,603$1,566
12 years$3,725$3,295$2,909$2,564$2,256$1,284
13 years$3,403$2,978$2,599$2,264$1,967$1,058
14 years$3,128$2,707$2,336$2,009$1,725$875
15 years$2,889$2,473$2,109$1,792$1,518$727
16 years$2,680$2,269$1,912$1,605$1,342$605
17 years$2,497$2,089$1,740$1,442$1,190$504
18 years$2,333$1,931$1,588$1,299$1,058$421
19 years$2,187$1,789$1,454$1,174$943$353
20 years$2,056$1,663$1,334$1,063$842$295
21 years$1,938$1,549$1,227$965$754$248
22 years$1,830$1,446$1,131$877$676$208
23 years$1,732$1,352$1,044$799$607$175
24 years$1,642$1,267$966$729$545$147
25 years$1,560$1,189$895$666$491$123
26 years$1,484$1,117$830$609$442$104
27 years$1,414$1,052$770$557$398$87
28 years$1,348$991$716$510$359$74
29 years$1,288$935$667$468$325$62
30 years$1,232$883$621$430$293$52
31 years$1,179$835$579$394$265$44
32 years$1,130$790$540$363$240$37
33 years$1,083$748$504$333$217$31
34 years$1,040$709$471$307$197$26
35 years$999$672$440$282$178$22
36 years$961$638$412$260$161$19
37 years$925$606$386$240$146$16
38 years$890$576$361$221$133$13
39 years$858$548$338$204$120$11
40 years$827$521$317$188$109$9
41 years$798$496$297$173$99$8
42 years$770$472$279$160$90$7
43 years$744$450$262$148$81$6
44 years$719$429$246$136$74$5
45 years$695$409$231$126$67$4
46 years$672$390$217$116$61$3
47 years$650$372$204$107$55$3
48 years$630$356$191$99$50$2
49 years$610$340$180$92$46$2
50 years$591$324$169$85$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $605,000, adding $3,216 every year, while hoping to spend $34,304 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: 32/46/22 Blend
53$605,000$605,000$605,000$605,000
54$670,027$637,962$628,585$686,835
55$701,871$632,723$613,143$694,515
56$735,813$626,078$596,035$699,460
57$772,031$617,921$577,167$704,080
58$810,720$608,141$556,444$708,369
59$852,093$596,620$533,765$712,322
60$896,385$583,232$509,024$715,937
61$943,852$567,847$482,112$719,217
62$994,776$550,322$452,914$722,166
63$1,049,466$530,510$421,309$724,795
64$1,108,261$508,254$387,172$727,120
65$1,171,532$483,388$350,372$729,160
66$1,239,690$455,735$310,770$730,946
67$1,313,182$425,110$268,225$732,512
68$1,392,503$391,317$222,587$733,905
69$1,478,194$354,147$173,699$735,178
70$1,570,850$313,381$121,398$736,401
71$1,671,126$268,786$65,515$737,652
72$1,779,743$220,118$5,871$739,027
73$1,897,490$167,117$0$740,638
74$2,025,238$109,510$0$756,178
75$2,163,944$47,007$0$774,590
76$2,314,660$0$0$794,717
77$2,478,543$0$0$827,287
78$2,656,869$0$0$888,699
79$2,851,037$0$0$955,651
80$3,062,590$0$0$1,028,687
81$3,293,225$0$0$1,108,402
82$3,544,809$0$0$1,195,453
83$3,819,400$0$0$1,290,565
84$4,119,258$0$0$1,394,534
85$4,446,876$0$0$1,508,235
86$4,804,995$0$0$1,632,635
87$5,196,636$0$0$1,768,797
88$5,625,122$0$0$1,917,890
89$6,094,115$0$0$2,081,205
90$6,607,644$0$0$2,260,159
91$7,170,149$0$0$2,456,317
92$7,786,519$0$0$2,671,401
93$8,462,135$0$0$2,907,305
94$9,202,929$0$0$3,166,120
95$10,015,430$0$0$3,450,146
96$10,906,830$0$0$3,761,916
97$11,885,053$0$0$4,104,222
98$12,958,825$0$0$4,480,139
99$14,137,759$0$0$4,893,054
100$15,432,444$0$0$5,346,698