Can I retire at age 54 with 616,000?

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 $616,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$50,869$50,416$49,974$49,542$49,121$48,832
2 years$25,183$24,714$24,259$23,818$23,391$23,099
3 years$16,622$16,151$15,697$15,261$14,840$14,555
4 years$12,342$11,872$11,424$10,994$10,584$10,308
5 years$9,775$9,308$8,865$8,445$8,046$7,779
6 years$8,064$7,601$7,164$6,753$6,366$6,109
7 years$6,842$6,383$5,954$5,552$5,178$4,930
8 years$5,927$5,471$5,049$4,658$4,295$4,058
9 years$5,215$4,764$4,349$3,967$3,617$3,390
10 years$4,646$4,199$3,791$3,420$3,082$2,864
11 years$4,180$3,738$3,338$2,976$2,651$2,443
12 years$3,793$3,355$2,962$2,611$2,297$2,098
13 years$3,465$3,032$2,647$2,305$2,003$1,814
14 years$3,184$2,756$2,378$2,046$1,756$1,576
15 years$2,942$2,518$2,147$1,825$1,546$1,375
16 years$2,729$2,310$1,947$1,634$1,366$1,203
17 years$2,542$2,127$1,771$1,468$1,212$1,057
18 years$2,376$1,966$1,617$1,323$1,077$931
19 years$2,227$1,822$1,480$1,195$960$821
20 years$2,094$1,693$1,359$1,083$858$726
21 years$1,973$1,577$1,250$983$767$643
22 years$1,863$1,472$1,152$893$688$571
23 years$1,764$1,377$1,063$814$618$507
24 years$1,672$1,290$983$742$555$451
25 years$1,588$1,211$911$678$499$402
26 years$1,511$1,138$845$620$450$358
27 years$1,439$1,071$784$567$406$319
28 years$1,373$1,009$729$520$366$285
29 years$1,311$952$679$477$330$254
30 years$1,254$899$632$437$299$227
31 years$1,200$850$589$402$270$203
32 years$1,150$804$550$369$244$182
33 years$1,103$761$513$339$221$163
34 years$1,059$722$480$312$200$145
35 years$1,017$685$448$288$181$130
36 years$978$650$420$265$164$117
37 years$941$617$393$244$149$104
38 years$907$586$368$225$135$94
39 years$873$558$345$207$122$84
40 years$842$531$323$191$111$75
41 years$812$505$303$176$101$67
42 years$784$481$284$163$91$60
43 years$757$458$267$150$83$54
44 years$732$437$250$139$75$49
45 years$708$417$235$128$68$44
46 years$684$397$221$118$62$39
47 years$662$379$207$109$56$35
48 years$641$362$195$101$51$31
49 years$621$346$183$93$46$28
50 years$601$330$172$86$42$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $616,000, adding $2,452 every year, while hoping to spend $23,053 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: 70/22/8 Blend
53$616,000$616,000$616,000$616,000
54$681,361$648,713$639,165$727,944
55$726,332$655,972$636,049$766,348
56$775,117$662,814$632,056$805,295
57$828,081$669,194$627,132$847,284
58$885,625$675,064$621,221$892,610
59$948,191$680,375$614,264$941,595
60$1,016,264$685,070$606,199$994,598
61$1,090,378$689,094$596,962$1,052,011
62$1,171,121$692,384$586,485$1,114,268
63$1,259,140$694,876$574,697$1,181,848
64$1,355,147$696,499$561,523$1,255,277
65$1,459,925$697,180$546,887$1,335,136
66$1,574,336$696,841$530,707$1,422,067
67$1,699,331$695,399$512,898$1,516,775
68$1,835,955$692,765$493,372$1,620,039
69$1,985,357$688,846$472,035$1,732,718
70$2,148,806$683,542$448,791$1,855,757
71$2,327,697$676,748$423,538$1,990,202
72$2,523,565$668,351$396,169$2,137,202
73$2,738,103$658,235$366,575$2,298,026
74$2,973,173$646,272$334,639$2,474,072
75$3,230,828$632,330$300,241$2,666,884
76$3,513,326$616,269$263,253$2,878,160
77$3,823,158$597,938$223,544$3,109,777
78$4,163,064$577,181$180,977$3,363,800
79$4,536,063$553,830$135,407$3,642,509
80$4,945,482$527,708$86,683$3,948,416
81$5,394,984$498,629$34,650$4,284,291
82$5,888,605$466,394$0$4,653,189
83$6,430,790$430,795$0$5,060,258
84$7,026,437$391,610$0$5,510,700
85$7,680,940$348,605$0$6,005,664
86$8,400,244$301,535$0$6,549,676
87$9,190,896$250,137$0$7,147,728
88$10,060,109$194,136$0$7,805,320
89$11,015,833$133,241$0$8,528,516
90$12,066,822$67,144$0$9,324,001
91$13,222,725$0$0$10,199,140
92$14,494,170$0$0$11,163,138
93$15,892,868$0$0$12,241,538
94$17,431,723$0$0$13,428,036
95$19,124,951$0$0$14,733,600
96$20,988,217$0$0$16,170,313
97$23,038,781$0$0$17,751,488
98$25,295,659$0$0$19,491,794
99$27,779,807$0$0$21,407,396
100$30,514,314$0$0$23,516,103