Can I retire at age 54 with 620,000?

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 $620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$51,199$50,743$50,298$49,864$49,440$48,581
2 years$25,346$24,874$24,417$23,973$23,543$22,680
3 years$16,730$16,255$15,799$15,360$14,936$14,097
4 years$12,422$11,949$11,498$11,066$10,653$9,843
5 years$9,838$9,369$8,923$8,500$8,098$7,320
6 years$8,116$7,650$7,211$6,797$6,408$5,663
7 years$6,887$6,425$5,992$5,588$5,211$4,499
8 years$5,965$5,507$5,082$4,688$4,323$3,644
9 years$5,249$4,795$4,377$3,993$3,641$2,995
10 years$4,676$4,226$3,816$3,442$3,102$2,488
11 years$4,207$3,763$3,360$2,996$2,668$2,085
12 years$3,817$3,377$2,982$2,628$2,312$1,760
13 years$3,488$3,052$2,664$2,320$2,016$1,493
14 years$3,205$2,774$2,393$2,059$1,767$1,274
15 years$2,961$2,534$2,161$1,836$1,556$1,090
16 years$2,747$2,325$1,959$1,644$1,375$936
17 years$2,558$2,141$1,783$1,477$1,219$806
18 years$2,391$1,979$1,627$1,331$1,084$696
19 years$2,242$1,834$1,490$1,203$966$602
20 years$2,107$1,704$1,367$1,090$863$521
21 years$1,986$1,587$1,258$989$772$452
22 years$1,875$1,482$1,159$899$692$393
23 years$1,775$1,386$1,070$819$622$342
24 years$1,683$1,298$990$747$559$297
25 years$1,598$1,218$917$682$503$259
26 years$1,521$1,145$850$624$453$226
27 years$1,449$1,078$790$571$408$197
28 years$1,382$1,016$734$523$368$172
29 years$1,320$958$683$480$333$150
30 years$1,262$905$636$440$301$131
31 years$1,208$855$593$404$272$114
32 years$1,158$809$553$372$246$100
33 years$1,110$766$517$342$222$87
34 years$1,066$726$483$314$201$76
35 years$1,024$689$451$289$182$67
36 years$985$654$422$267$165$58
37 years$948$621$395$246$150$51
38 years$912$590$370$226$136$45
39 years$879$561$347$209$123$39
40 years$848$534$325$192$112$34
41 years$818$508$305$178$101$30
42 years$789$484$286$164$92$26
43 years$762$461$268$151$83$23
44 years$737$440$252$140$76$20
45 years$712$419$236$129$69$18
46 years$689$400$222$119$62$15
47 years$667$382$209$110$57$13
48 years$645$364$196$102$51$12
49 years$625$348$184$94$47$10
50 years$605$332$173$87$42$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $620,000, adding $6,884 every year, while hoping to spend $20,069 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: 41/49/10 Blend
53$620,000$620,000$620,000$620,000
54$690,341$657,481$647,871$716,328
55$739,402$668,344$648,221$746,083
56$792,796$679,067$647,911$775,733
57$850,941$689,622$646,896$807,373
58$914,302$699,978$645,132$841,191
59$983,387$710,103$642,570$877,396
60$1,058,757$719,963$639,161$916,218
61$1,141,030$729,521$634,852$957,912
62$1,230,884$738,737$629,589$1,002,760
63$1,329,068$747,568$623,314$1,051,070
64$1,436,404$755,971$615,967$1,103,186
65$1,553,800$763,896$607,484$1,159,486
66$1,682,253$771,292$597,800$1,220,387
67$1,822,861$778,104$586,845$1,286,352
68$1,976,836$784,274$574,548$1,357,889
69$2,145,510$789,740$560,831$1,435,561
70$2,330,350$794,435$545,617$1,519,989
71$2,532,973$798,290$528,823$1,611,857
72$2,755,159$801,228$510,360$1,711,924
73$2,998,868$803,171$490,140$1,821,024
74$3,266,259$804,034$468,067$1,940,080
75$3,559,713$803,726$444,042$2,070,111
76$3,881,847$802,153$417,961$2,212,240
77$4,235,549$799,212$389,717$2,367,709
78$4,623,999$794,796$359,196$2,537,886
79$5,050,697$788,792$326,279$2,724,283
80$5,519,502$781,077$290,844$2,928,569
81$6,034,666$771,524$252,761$3,152,585
82$6,600,869$759,996$211,896$3,398,362
83$7,223,271$746,349$168,108$3,668,144
84$7,907,555$730,431$121,250$3,964,403
85$8,659,983$712,079$71,169$4,289,870
86$9,487,453$691,123$17,705$4,647,558
87$10,397,566$667,380$0$5,040,791
88$11,398,695$640,660$0$5,477,433
89$12,500,068$610,758$0$5,959,622
90$13,711,850$577,460$0$6,489,948
91$15,045,243$540,540$0$7,073,356
92$16,512,587$499,755$0$7,715,297
93$18,127,481$454,854$0$8,421,787
94$19,904,908$405,566$0$9,199,455
95$21,861,379$351,609$0$10,055,616
96$24,015,084$292,682$0$10,998,334
97$26,386,068$228,468$0$12,036,504
98$28,996,418$158,634$0$13,179,932
99$31,870,471$82,826$0$14,439,433
100$35,035,044$670$0$15,826,932