Can I retire at age 54 with 608,000?

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 $608,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$50,208$49,761$49,325$48,899$48,483$46,987
2 years$24,855$24,393$23,944$23,509$23,087$21,593
3 years$16,406$15,941$15,493$15,062$14,647$13,202
4 years$12,182$11,718$11,275$10,852$10,447$9,062
5 years$9,648$9,187$8,750$8,335$7,941$6,620
6 years$7,959$7,502$7,071$6,666$6,284$5,027
7 years$6,754$6,300$5,876$5,480$5,110$3,918
8 years$5,850$5,400$4,984$4,597$4,240$3,111
9 years$5,147$4,702$4,292$3,916$3,570$2,505
10 years$4,585$4,145$3,742$3,375$3,042$2,037
11 years$4,126$3,690$3,295$2,938$2,616$1,671
12 years$3,743$3,312$2,924$2,577$2,267$1,379
13 years$3,420$2,993$2,612$2,275$1,977$1,144
14 years$3,143$2,720$2,347$2,019$1,733$953
15 years$2,903$2,485$2,119$1,801$1,526$797
16 years$2,694$2,280$1,921$1,613$1,349$668
17 years$2,509$2,100$1,748$1,449$1,196$561
18 years$2,345$1,940$1,596$1,306$1,063$472
19 years$2,198$1,798$1,461$1,180$948$398
20 years$2,066$1,671$1,341$1,069$846$336
21 years$1,947$1,557$1,233$970$758$284
22 years$1,839$1,453$1,137$882$679$240
23 years$1,741$1,359$1,050$803$610$204
24 years$1,650$1,273$971$732$548$172
25 years$1,568$1,195$899$669$493$146
26 years$1,491$1,123$834$612$444$124
27 years$1,421$1,057$774$560$400$105
28 years$1,355$996$720$513$361$89
29 years$1,294$939$670$470$326$76
30 years$1,238$887$624$432$295$64
31 years$1,185$839$582$396$266$55
32 years$1,135$794$543$364$241$46
33 years$1,089$752$507$335$218$39
34 years$1,045$712$473$308$198$34
35 years$1,004$676$443$284$179$28
36 years$966$641$414$261$162$24
37 years$929$609$388$241$147$21
38 years$895$579$363$222$133$17
39 years$862$550$340$205$121$15
40 years$831$524$319$189$110$13
41 years$802$498$299$174$99$11
42 years$774$475$280$161$90$9
43 years$748$452$263$148$82$8
44 years$722$431$247$137$74$7
45 years$698$411$232$127$67$6
46 years$675$392$218$117$61$5
47 years$654$374$205$108$56$4
48 years$633$357$192$100$50$3
49 years$613$341$181$92$46$3
50 years$594$326$170$85$42$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $608,000, adding $3,836 every year, while hoping to spend $31,478 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: 30/47/23 Blend
53$608,000$608,000$608,000$608,000
54$673,973$641,749$632,325$689,281
55$709,226$639,702$620,015$699,297
56$747,019$636,500$606,239$707,003
57$787,580$632,053$590,912$714,643
58$831,155$626,266$573,949$722,233
59$878,017$619,037$555,261$729,790
60$928,464$610,259$534,752$737,338
61$982,825$599,819$512,323$744,907
62$1,041,460$587,597$487,873$752,532
63$1,104,765$573,466$461,293$760,256
64$1,173,175$557,290$432,470$768,128
65$1,247,168$538,926$401,287$776,210
66$1,327,270$518,224$367,621$784,570
67$1,414,058$495,024$331,343$793,292
68$1,508,168$469,156$292,319$802,468
69$1,610,298$440,442$250,409$812,210
70$1,721,217$408,692$205,466$822,643
71$1,841,770$373,706$157,338$833,912
72$1,972,886$335,274$105,864$846,181
73$2,115,588$293,170$50,879$859,639
74$2,271,003$247,160$0$874,502
75$2,440,368$196,993$0$892,925
76$2,625,046$142,407$0$926,721
77$2,826,538$83,122$0$963,749
78$3,046,495$18,845$0$1,004,408
79$3,286,735$0$0$1,049,147
80$3,549,258$0$0$1,124,703
81$3,836,268$0$0$1,218,055
82$4,150,190$0$0$1,320,256
83$4,493,694$0$0$1,432,187
84$4,869,722$0$0$1,554,819
85$5,281,511$0$0$1,689,220
86$5,732,628$0$0$1,836,569
87$6,226,999$0$0$1,998,161
88$6,768,949$0$0$2,175,425
89$7,363,243$0$0$2,369,933
90$8,015,127$0$0$2,583,418
91$8,730,379$0$0$2,817,789
92$9,515,364$0$0$3,075,149
93$10,377,094$0$0$3,357,812
94$11,323,292$0$0$3,668,330
95$12,362,466$0$0$4,009,514
96$13,503,989$0$0$4,384,459
97$14,758,183$0$0$4,796,577
98$16,136,425$0$0$5,249,626
99$17,651,243$0$0$5,747,745
100$19,316,444$0$0$6,295,496