Can I retire at age 54 with 623,000?

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 $623,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$51,447$50,988$50,541$50,105$49,679$47,954
2 years$25,469$24,994$24,535$24,089$23,657$21,937
3 years$16,810$16,334$15,876$15,434$15,009$13,348
4 years$12,482$12,007$11,553$11,119$10,704$9,115
5 years$9,886$9,414$8,966$8,541$8,137$6,624
6 years$8,156$7,687$7,246$6,830$6,439$5,003
7 years$6,920$6,456$6,021$5,615$5,236$3,877
8 years$5,994$5,534$5,106$4,711$4,344$3,060
9 years$5,274$4,818$4,398$4,012$3,658$2,449
10 years$4,698$4,247$3,834$3,459$3,117$1,979
11 years$4,228$3,781$3,376$3,010$2,681$1,613
12 years$3,836$3,393$2,996$2,640$2,323$1,322
13 years$3,504$3,067$2,677$2,331$2,026$1,090
14 years$3,221$2,787$2,405$2,069$1,776$902
15 years$2,975$2,546$2,171$1,845$1,564$748
16 years$2,760$2,336$1,969$1,652$1,382$623
17 years$2,571$2,152$1,791$1,485$1,225$519
18 years$2,403$1,988$1,635$1,338$1,089$434
19 years$2,252$1,843$1,497$1,209$971$363
20 years$2,117$1,712$1,374$1,095$867$304
21 years$1,995$1,595$1,264$994$776$255
22 years$1,885$1,489$1,165$903$696$214
23 years$1,784$1,392$1,075$823$625$180
24 years$1,691$1,305$995$750$561$151
25 years$1,606$1,224$921$685$505$127
26 years$1,528$1,151$854$627$455$107
27 years$1,456$1,083$793$574$410$90
28 years$1,389$1,020$738$526$370$76
29 years$1,326$963$686$482$334$64
30 years$1,268$909$639$442$302$54
31 years$1,214$859$596$406$273$45
32 years$1,163$813$556$373$247$38
33 years$1,116$770$519$343$224$32
34 years$1,071$730$485$316$202$27
35 years$1,029$692$454$291$183$23
36 years$989$657$424$268$166$19
37 years$952$624$397$247$151$16
38 years$917$593$372$227$136$14
39 years$883$564$348$210$124$12
40 years$852$537$327$193$112$10
41 years$822$511$306$178$102$8
42 years$793$486$287$165$92$7
43 years$766$463$270$152$84$6
44 years$740$442$253$140$76$5
45 years$716$421$238$130$69$4
46 years$692$402$223$120$63$3
47 years$670$384$210$111$57$3
48 years$648$366$197$102$52$2
49 years$628$350$185$94$47$2
50 years$608$334$174$87$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $623,000, adding $5,478 every year, while hoping to spend $36,909 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: 70/9/21 Blend
53$623,000$623,000$623,000$623,000
54$692,197$659,178$649,521$736,694
55$723,530$652,206$632,009$760,127
56$756,822$643,657$612,674$780,907
57$792,234$633,412$591,414$802,749
58$829,941$621,349$568,126$825,752
59$870,138$607,337$542,701$850,031
60$913,034$591,239$515,023$875,710
61$958,860$572,906$484,974$902,928
62$1,007,871$552,186$452,428$931,839
63$1,060,344$528,914$417,254$962,613
64$1,116,584$502,915$379,317$995,439
65$1,176,926$474,008$338,474$1,030,528
66$1,241,735$441,997$294,575$1,068,112
67$1,311,414$406,677$247,466$1,108,449
68$1,386,407$367,832$196,984$1,151,823
69$1,467,197$325,233$142,960$1,198,550
70$1,554,318$278,636$85,216$1,248,982
71$1,648,355$227,787$23,568$1,303,506
72$1,749,953$172,414$0$1,362,550
73$1,859,818$112,231$0$1,436,050
74$1,978,727$46,938$0$1,521,322
75$2,107,535$0$0$1,613,708
76$2,247,181$0$0$1,716,257
77$2,398,698$0$0$1,832,595
78$2,563,223$0$0$1,958,949
79$2,742,005$0$0$2,096,285
80$2,936,418$0$0$2,245,660
81$3,147,975$0$0$2,408,241
82$3,378,341$0$0$2,585,312
83$3,629,346$0$0$2,778,284
84$3,903,006$0$0$2,988,711
85$4,201,538$0$0$3,218,304
86$4,527,384$0$0$3,468,945
87$4,883,231$0$0$3,742,705
88$5,272,037$0$0$4,041,867
89$5,697,059$0$0$4,368,942
90$6,161,882$0$0$4,726,695
91$6,670,454$0$0$5,118,170
92$7,227,122$0$0$5,546,720
93$7,836,674$0$0$6,016,037
94$8,504,380$0$0$6,530,187
95$9,236,045$0$0$7,093,645
96$10,038,063$0$0$7,711,345
97$10,917,475$0$0$8,388,715
98$11,882,037$0$0$9,131,737
99$12,940,289$0$0$9,947,000
100$14,101,641$0$0$10,841,760