Can I retire at age 54 with 605,000?

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 $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%17.8%
1 years$49,960$49,515$49,081$48,657$48,244$46,718
2 years$24,733$24,272$23,826$23,393$22,973$21,450
3 years$16,325$15,862$15,417$14,988$14,575$13,102
4 years$12,122$11,660$11,220$10,798$10,395$8,984
5 years$9,600$9,142$8,707$8,294$7,902$6,556
6 years$7,920$7,465$7,036$6,633$6,253$4,973
7 years$6,720$6,269$5,847$5,453$5,085$3,872
8 years$5,821$5,374$4,959$4,575$4,219$3,071
9 years$5,122$4,679$4,271$3,896$3,553$2,469
10 years$4,563$4,124$3,724$3,359$3,027$2,006
11 years$4,106$3,672$3,278$2,923$2,603$1,643
12 years$3,725$3,295$2,909$2,564$2,256$1,354
13 years$3,403$2,978$2,599$2,264$1,967$1,122
14 years$3,128$2,707$2,336$2,009$1,725$933
15 years$2,889$2,473$2,109$1,792$1,518$779
16 years$2,680$2,269$1,912$1,605$1,342$652
17 years$2,497$2,089$1,740$1,442$1,190$547
18 years$2,333$1,931$1,588$1,299$1,058$460
19 years$2,187$1,789$1,454$1,174$943$387
20 years$2,056$1,663$1,334$1,063$842$326
21 years$1,938$1,549$1,227$965$754$275
22 years$1,830$1,446$1,131$877$676$233
23 years$1,732$1,352$1,044$799$607$197
24 years$1,642$1,267$966$729$545$166
25 years$1,560$1,189$895$666$491$141
26 years$1,484$1,117$830$609$442$119
27 years$1,414$1,052$770$557$398$101
28 years$1,348$991$716$510$359$86
29 years$1,288$935$667$468$325$73
30 years$1,232$883$621$430$293$61
31 years$1,179$835$579$394$265$52
32 years$1,130$790$540$363$240$44
33 years$1,083$748$504$333$217$38
34 years$1,040$709$471$307$197$32
35 years$999$672$440$282$178$27
36 years$961$638$412$260$161$23
37 years$925$606$386$240$146$19
38 years$890$576$361$221$133$16
39 years$858$548$338$204$120$14
40 years$827$521$317$188$109$12
41 years$798$496$297$173$99$10
42 years$770$472$279$160$90$9
43 years$744$450$262$148$81$7
44 years$719$429$246$136$74$6
45 years$695$409$231$126$67$5
46 years$672$390$217$116$61$4
47 years$650$372$204$107$55$4
48 years$630$356$191$99$50$3
49 years$610$340$180$92$46$3
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 $2,163 every year, while hoping to spend $43,033 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: 22/49/29 Blend
53$605,000$605,000$605,000$605,000
54$668,941$636,876$627,499$677,484
55$691,386$622,296$602,733$670,706
56$714,679$605,560$575,696$659,728
57$738,859$586,515$546,265$647,064
58$763,971$565,003$514,313$632,604
59$790,062$540,854$479,708$616,234
60$817,182$513,889$442,311$597,832
61$845,383$483,918$401,978$577,270
62$874,723$450,742$358,555$554,413
63$905,265$414,148$311,886$529,121
64$937,073$373,912$261,806$501,245
65$970,218$329,798$208,141$470,629
66$1,004,778$281,556$150,711$437,108
67$1,040,835$228,921$89,329$400,512
68$1,078,476$171,614$23,798$360,658
69$1,117,799$109,341$0$317,359
70$1,158,906$41,791$0$284,689
71$1,201,909$0$0$256,952
72$1,246,929$0$0$243,538
73$1,294,098$0$0$253,123
74$1,343,558$0$0$263,205
75$1,395,463$0$0$273,819
76$1,449,980$0$0$285,004
77$1,507,291$0$0$296,803
78$1,567,595$0$0$309,261
79$1,631,107$0$0$322,429
80$1,698,060$0$0$336,362
81$1,768,711$0$0$351,118
82$1,843,338$0$0$366,763
83$1,922,245$0$0$383,369
84$2,005,764$0$0$401,014
85$2,094,256$0$0$419,782
86$2,188,117$0$0$439,767
87$2,287,780$0$0$461,072
88$2,393,717$0$0$483,807
89$2,506,446$0$0$508,097
90$2,626,534$0$0$534,075
91$2,754,600$0$0$561,888
92$2,891,324$0$0$591,698
93$3,037,450$0$0$623,683
94$3,193,794$0$0$658,036
95$3,361,251$0$0$694,972
96$3,540,801$0$0$734,724
97$3,733,522$0$0$777,551
98$3,940,594$0$0$823,734
99$4,163,315$0$0$873,584
100$4,403,107$0$0$927,443