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%17.1%
1 years$51,199$50,743$50,298$49,864$49,440$48,011
2 years$25,346$24,874$24,417$23,973$23,543$22,115
3 years$16,730$16,255$15,799$15,360$14,936$13,554
4 years$12,422$11,949$11,498$11,066$10,653$9,326
5 years$9,838$9,369$8,923$8,500$8,098$6,831
6 years$8,116$7,650$7,211$6,797$6,408$5,202
7 years$6,887$6,425$5,992$5,588$5,211$4,066
8 years$5,965$5,507$5,082$4,688$4,323$3,238
9 years$5,249$4,795$4,377$3,993$3,641$2,615
10 years$4,676$4,226$3,816$3,442$3,102$2,134
11 years$4,207$3,763$3,360$2,996$2,668$1,755
12 years$3,817$3,377$2,982$2,628$2,312$1,454
13 years$3,488$3,052$2,664$2,320$2,016$1,210
14 years$3,205$2,774$2,393$2,059$1,767$1,012
15 years$2,961$2,534$2,161$1,836$1,556$849
16 years$2,747$2,325$1,959$1,644$1,375$714
17 years$2,558$2,141$1,783$1,477$1,219$602
18 years$2,391$1,979$1,627$1,331$1,084$509
19 years$2,242$1,834$1,490$1,203$966$430
20 years$2,107$1,704$1,367$1,090$863$365
21 years$1,986$1,587$1,258$989$772$310
22 years$1,875$1,482$1,159$899$692$263
23 years$1,775$1,386$1,070$819$622$223
24 years$1,683$1,298$990$747$559$190
25 years$1,598$1,218$917$682$503$162
26 years$1,521$1,145$850$624$453$138
27 years$1,449$1,078$790$571$408$117
28 years$1,382$1,016$734$523$368$100
29 years$1,320$958$683$480$333$85
30 years$1,262$905$636$440$301$73
31 years$1,208$855$593$404$272$62
32 years$1,158$809$553$372$246$53
33 years$1,110$766$517$342$222$45
34 years$1,066$726$483$314$201$38
35 years$1,024$689$451$289$182$33
36 years$985$654$422$267$165$28
37 years$948$621$395$246$150$24
38 years$912$590$370$226$136$20
39 years$879$561$347$209$123$17
40 years$848$534$325$192$112$15
41 years$818$508$305$178$101$13
42 years$789$484$286$164$92$11
43 years$762$461$268$151$83$9
44 years$737$440$252$140$76$8
45 years$712$419$236$129$69$7
46 years$689$400$222$119$62$6
47 years$667$382$209$110$57$5
48 years$645$364$196$102$51$4
49 years$625$348$184$94$47$4
50 years$605$332$173$87$42$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $620,000, adding $2,345 every year, while hoping to spend $37,232 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: 63/29/8 Blend
53$620,000$620,000$620,000$620,000
54$685,659$652,799$643,189$727,596
55$715,982$645,171$625,121$748,245
56$748,149$635,922$605,200$766,218
57$782,311$624,933$583,325$784,888
58$818,629$612,077$559,389$804,320
59$857,283$597,222$533,282$824,589
60$898,466$580,227$504,887$845,778
61$942,393$560,941$474,084$867,979
62$989,297$539,208$440,746$891,297
63$1,039,435$514,859$404,741$915,847
64$1,093,088$487,717$365,930$941,761
65$1,150,564$457,596$324,170$969,182
66$1,212,201$424,298$279,309$998,273
67$1,278,370$387,613$231,190$1,029,215
68$1,349,477$347,319$179,649$1,062,210
69$1,425,970$303,184$124,513$1,097,483
70$1,508,338$254,960$65,604$1,135,283
71$1,597,122$202,386$2,734$1,175,892
72$1,692,911$145,186$0$1,219,618
73$1,796,357$83,069$0$1,272,303
74$1,908,173$15,727$0$1,329,444
75$2,029,146$0$0$1,391,252
76$2,160,137$0$0$1,476,466
77$2,302,096$0$0$1,574,291
78$2,456,066$0$0$1,680,431
79$2,623,194$0$0$1,795,683
80$2,804,743$0$0$1,920,922
81$3,002,100$0$0$2,057,110
82$3,216,792$0$0$2,205,308
83$3,450,500$0$0$2,366,681
84$3,705,073$0$0$2,542,511
85$3,982,544$0$0$2,734,211
86$4,285,154$0$0$2,943,333
87$4,615,366$0$0$3,171,589
88$4,975,894$0$0$3,420,859
89$5,369,722$0$0$3,693,217
90$5,800,139$0$0$3,990,943
91$6,270,764$0$0$4,316,549
92$6,785,581$0$0$4,672,801
93$7,348,979$0$0$5,062,744
94$7,965,788$0$0$5,489,730
95$8,641,329$0$0$5,957,452
96$9,381,460$0$0$6,469,976
97$10,192,635$0$0$7,031,782
98$11,081,958$0$0$7,647,800
99$12,057,257$0$0$8,323,463
100$13,127,153$0$0$9,064,756