Can I retire at age 54 with 622,000?

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 $622,000?

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$51,364$50,907$50,460$50,025$49,599$48,166
2 years$25,428$24,954$24,495$24,050$23,619$22,186
3 years$16,783$16,308$15,850$15,409$14,985$13,598
4 years$12,462$11,988$11,535$11,101$10,687$9,356
5 years$9,870$9,399$8,951$8,527$8,124$6,853
6 years$8,143$7,675$7,234$6,819$6,428$5,218
7 years$6,909$6,445$6,012$5,606$5,228$4,079
8 years$5,984$5,525$5,098$4,703$4,337$3,248
9 years$5,266$4,810$4,391$4,006$3,653$2,623
10 years$4,691$4,240$3,828$3,453$3,112$2,140
11 years$4,221$3,775$3,370$3,005$2,677$1,761
12 years$3,830$3,388$2,991$2,636$2,319$1,458
13 years$3,499$3,062$2,672$2,327$2,023$1,214
14 years$3,215$2,783$2,401$2,066$1,773$1,015
15 years$2,970$2,542$2,168$1,842$1,561$851
16 years$2,756$2,333$1,966$1,650$1,380$716
17 years$2,567$2,148$1,789$1,482$1,223$604
18 years$2,399$1,985$1,633$1,336$1,088$510
19 years$2,249$1,840$1,495$1,207$970$432
20 years$2,114$1,710$1,372$1,093$866$366
21 years$1,992$1,592$1,262$992$775$311
22 years$1,882$1,486$1,163$902$695$264
23 years$1,781$1,390$1,074$822$624$224
24 years$1,688$1,303$993$749$560$191
25 years$1,604$1,222$920$684$504$162
26 years$1,525$1,149$853$626$454$138
27 years$1,453$1,081$792$573$410$118
28 years$1,386$1,019$736$525$370$100
29 years$1,324$961$685$481$334$86
30 years$1,266$908$638$442$302$73
31 years$1,212$858$595$406$273$62
32 years$1,161$812$555$373$247$53
33 years$1,114$769$518$343$223$45
34 years$1,069$729$484$315$202$39
35 years$1,027$691$453$290$183$33
36 years$988$656$424$267$166$28
37 years$951$623$396$246$150$24
38 years$915$592$371$227$136$20
39 years$882$563$348$209$124$17
40 years$850$536$326$193$112$15
41 years$820$510$306$178$102$13
42 years$792$486$287$164$92$11
43 years$765$463$269$152$84$9
44 years$739$441$253$140$76$8
45 years$714$421$237$129$69$7
46 years$691$401$223$120$63$6
47 years$669$383$209$110$57$5
48 years$647$366$197$102$52$4
49 years$627$349$185$94$47$4
50 years$607$333$174$87$43$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $622,000, adding $5,102 every year, while hoping to spend $20,272 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: 82/8/10 Blend
53$622,000$622,000$622,000$622,000
54$690,707$657,741$648,100$745,850
55$739,590$668,401$648,242$793,372
56$792,779$678,904$647,709$842,324
57$850,693$689,220$646,458$895,457
58$913,791$699,320$644,442$953,180
59$982,580$709,168$641,613$1,015,942
60$1,057,616$718,730$637,919$1,084,238
61$1,139,512$727,968$633,309$1,158,614
62$1,228,943$736,839$627,726$1,239,669
63$1,326,652$745,301$621,111$1,328,066
64$1,433,456$753,306$613,405$1,424,534
65$1,550,257$760,806$604,541$1,529,874
66$1,678,044$767,747$594,455$1,644,972
67$1,817,910$774,072$583,075$1,770,802
68$1,971,057$779,722$570,328$1,908,438
69$2,138,808$784,631$556,137$2,059,062
70$2,322,621$788,732$540,421$2,223,978
71$2,524,100$791,953$523,098$2,404,621
72$2,745,015$794,215$504,078$2,602,574
73$2,987,312$795,436$483,270$2,819,580
74$3,253,135$795,531$460,577$3,057,559
75$3,544,848$794,405$435,900$3,318,629
76$3,865,052$791,960$409,132$3,605,122
77$4,216,614$788,093$380,164$3,919,607
78$4,602,691$782,691$348,882$4,264,918
79$5,026,761$775,639$315,165$4,644,174
80$5,492,656$766,811$278,889$5,060,815
81$6,004,597$756,075$239,922$5,518,632
82$6,567,235$743,291$198,128$6,021,800
83$7,185,691$728,311$153,364$6,574,921
84$7,865,612$710,978$105,481$7,183,068
85$8,613,213$691,125$54,324$7,851,830
86$9,435,348$668,577$0$8,587,365
87$10,339,563$643,147$0$9,396,492
88$11,334,175$614,638$0$10,292,848
89$12,428,347$582,841$0$11,278,893
90$13,632,174$547,536$0$12,363,733
91$14,956,780$508,489$0$13,557,398
92$16,414,420$465,454$0$14,870,942
93$18,018,600$418,170$0$16,316,548
94$19,784,197$366,361$0$17,907,638
95$21,727,609$309,736$0$19,659,001
96$23,866,899$247,987$0$21,586,938
97$26,221,973$180,789$0$23,709,408
98$28,814,765$107,799$0$26,046,203
99$31,669,445$28,654$0$28,619,131
100$34,812,641$0$0$31,452,226