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%17.5%
1 years$51,199$50,743$50,298$49,864$49,440$47,934
2 years$25,346$24,874$24,417$23,973$23,543$22,039
3 years$16,730$16,255$15,799$15,360$14,936$13,481
4 years$12,422$11,949$11,498$11,066$10,653$9,257
5 years$9,838$9,369$8,923$8,500$8,098$6,767
6 years$8,116$7,650$7,211$6,797$6,408$5,141
7 years$6,887$6,425$5,992$5,588$5,211$4,009
8 years$5,965$5,507$5,082$4,688$4,323$3,186
9 years$5,249$4,795$4,377$3,993$3,641$2,566
10 years$4,676$4,226$3,816$3,442$3,102$2,089
11 years$4,207$3,763$3,360$2,996$2,668$1,714
12 years$3,817$3,377$2,982$2,628$2,312$1,416
13 years$3,488$3,052$2,664$2,320$2,016$1,175
14 years$3,205$2,774$2,393$2,059$1,767$980
15 years$2,961$2,534$2,161$1,836$1,556$820
16 years$2,747$2,325$1,959$1,644$1,375$688
17 years$2,558$2,141$1,783$1,477$1,219$578
18 years$2,391$1,979$1,627$1,331$1,084$487
19 years$2,242$1,834$1,490$1,203$966$411
20 years$2,107$1,704$1,367$1,090$863$347
21 years$1,986$1,587$1,258$989$772$294
22 years$1,875$1,482$1,159$899$692$249
23 years$1,775$1,386$1,070$819$622$211
24 years$1,683$1,298$990$747$559$179
25 years$1,598$1,218$917$682$503$152
26 years$1,521$1,145$850$624$453$129
27 years$1,449$1,078$790$571$408$109
28 years$1,382$1,016$734$523$368$93
29 years$1,320$958$683$480$333$79
30 years$1,262$905$636$440$301$67
31 years$1,208$855$593$404$272$57
32 years$1,158$809$553$372$246$48
33 years$1,110$766$517$342$222$41
34 years$1,066$726$483$314$201$35
35 years$1,024$689$451$289$182$30
36 years$985$654$422$267$165$25
37 years$948$621$395$246$150$22
38 years$912$590$370$226$136$18
39 years$879$561$347$209$123$16
40 years$848$534$325$192$112$13
41 years$818$508$305$178$101$11
42 years$789$484$286$164$92$10
43 years$762$461$268$151$83$8
44 years$737$440$252$140$76$7
45 years$712$419$236$129$69$6
46 years$689$400$222$119$62$5
47 years$667$382$209$110$57$4
48 years$645$364$196$102$51$4
49 years$625$348$184$94$47$3
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 $6,389 every year, while hoping to spend $53,534 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: 55/40/5 Blend
53$620,000$620,000$620,000$620,000
54$689,830$656,970$647,360$726,713
55$703,233$632,202$612,087$727,538
56$716,209$604,426$573,838$721,911
57$728,658$573,438$532,457$714,458
58$740,467$539,023$487,780$705,014
59$751,511$500,952$439,638$693,398
60$761,651$458,984$387,852$679,416
61$770,730$412,865$332,235$662,855
62$778,574$362,325$272,595$643,488
63$784,989$307,079$208,727$621,067
64$789,759$246,827$140,420$595,324
65$792,643$181,250$67,452$565,969
66$793,374$110,013$0$532,687
67$791,657$32,762$0$495,694
68$787,161$0$0$457,941
69$779,521$0$0$437,832
70$768,333$0$0$429,960
71$753,146$0$0$419,630
72$733,463$0$0$406,539
73$708,732$0$0$390,352
74$678,343$0$0$370,698
75$641,621$0$0$347,167
76$597,816$0$0$319,302
77$546,101$0$0$286,603
78$485,562$0$0$248,512
79$415,187$0$0$204,415
80$333,856$0$0$153,633
81$240,334$0$0$95,414
82$133,253$0$0$28,930
83$11,105$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0