Can I retire at age 54 with 620,000?

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 $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%15.6%
1 years$51,199$50,743$50,298$49,864$49,440$48,303
2 years$25,346$24,874$24,417$23,973$23,543$22,404
3 years$16,730$16,255$15,799$15,360$14,936$13,831
4 years$12,422$11,949$11,498$11,066$10,653$9,589
5 years$9,838$9,369$8,923$8,500$8,098$7,080
6 years$8,116$7,650$7,211$6,797$6,408$5,435
7 years$6,887$6,425$5,992$5,588$5,211$4,285
8 years$5,965$5,507$5,082$4,688$4,323$3,442
9 years$5,249$4,795$4,377$3,993$3,641$2,805
10 years$4,676$4,226$3,816$3,442$3,102$2,310
11 years$4,207$3,763$3,360$2,996$2,668$1,919
12 years$3,817$3,377$2,982$2,628$2,312$1,605
13 years$3,488$3,052$2,664$2,320$2,016$1,350
14 years$3,205$2,774$2,393$2,059$1,767$1,140
15 years$2,961$2,534$2,161$1,836$1,556$966
16 years$2,747$2,325$1,959$1,644$1,375$822
17 years$2,558$2,141$1,783$1,477$1,219$701
18 years$2,391$1,979$1,627$1,331$1,084$598
19 years$2,242$1,834$1,490$1,203$966$512
20 years$2,107$1,704$1,367$1,090$863$439
21 years$1,986$1,587$1,258$989$772$377
22 years$1,875$1,482$1,159$899$692$324
23 years$1,775$1,386$1,070$819$622$279
24 years$1,683$1,298$990$747$559$240
25 years$1,598$1,218$917$682$503$206
26 years$1,521$1,145$850$624$453$178
27 years$1,449$1,078$790$571$408$153
28 years$1,382$1,016$734$523$368$132
29 years$1,320$958$683$480$333$114
30 years$1,262$905$636$440$301$99
31 years$1,208$855$593$404$272$85
32 years$1,158$809$553$372$246$74
33 years$1,110$766$517$342$222$64
34 years$1,066$726$483$314$201$55
35 years$1,024$689$451$289$182$47
36 years$985$654$422$267$165$41
37 years$948$621$395$246$150$35
38 years$912$590$370$226$136$31
39 years$879$561$347$209$123$27
40 years$848$534$325$192$112$23
41 years$818$508$305$178$101$20
42 years$789$484$286$164$92$17
43 years$762$461$268$151$83$15
44 years$737$440$252$140$76$13
45 years$712$419$236$129$69$11
46 years$689$400$222$119$62$10
47 years$667$382$209$110$57$8
48 years$645$364$196$102$51$7
49 years$625$348$184$94$47$6
50 years$605$332$173$87$42$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $620,000, adding $4,007 every year, while hoping to spend $39,244 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: 34/46/20 Blend
53$620,000$620,000$620,000$620,000
54$687,373$654,513$644,903$706,411
55$715,730$644,829$624,752$711,131
56$745,664$633,355$602,611$712,317
57$777,294$619,962$578,371$712,782
58$810,751$604,514$551,920$712,485
59$846,178$586,864$523,138$711,386
60$883,729$566,861$491,904$709,442
61$923,574$544,342$458,088$706,613
62$965,899$519,135$421,554$702,858
63$1,010,906$491,059$382,162$698,136
64$1,058,819$459,922$339,765$692,407
65$1,109,881$425,520$294,209$685,633
66$1,164,357$387,638$245,334$677,777
67$1,222,539$346,051$192,970$668,804
68$1,284,748$300,517$136,945$658,682
69$1,351,334$250,784$77,074$647,382
70$1,422,681$196,583$13,167$634,881
71$1,499,211$137,632$0$621,158
72$1,581,386$73,632$0$617,944
73$1,669,716$4,268$0$617,250
74$1,764,756$0$0$616,311
75$1,867,119$0$0$651,021
76$1,977,477$0$0$690,841
77$2,096,569$0$0$733,885
78$2,225,207$0$0$780,455
79$2,364,281$0$0$830,885
80$2,514,772$0$0$885,540
81$2,677,757$0$0$944,821
82$2,854,421$0$0$1,009,171
83$3,046,066$0$0$1,079,077
84$3,254,124$0$0$1,155,072
85$3,480,171$0$0$1,237,745
86$3,725,939$0$0$1,327,744
87$3,993,336$0$0$1,425,782
88$4,284,459$0$0$1,532,641
89$4,601,616$0$0$1,649,184
90$4,947,348$0$0$1,776,362
91$5,324,450$0$0$1,915,219
92$5,735,999$0$0$2,066,907
93$6,185,383$0$0$2,232,691
94$6,676,329$0$0$2,413,966
95$7,212,943$0$0$2,612,267
96$7,799,745$0$0$2,829,286
97$8,441,708$0$0$3,066,884
98$9,144,314$0$0$3,327,110
99$9,913,594$0$0$3,612,223
100$10,756,193$0$0$3,924,709