Can I retire at age 54 with 624,000?

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 $624,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$51,529$51,070$50,623$50,185$49,759$47,784
2 years$25,510$25,034$24,574$24,128$23,695$21,730
3 years$16,837$16,360$15,901$15,459$15,033$13,140
4 years$12,502$12,027$11,572$11,137$10,722$8,915
5 years$9,902$9,429$8,980$8,554$8,150$6,434
6 years$8,169$7,699$7,257$6,841$6,449$4,824
7 years$6,931$6,466$6,031$5,624$5,245$3,711
8 years$6,004$5,543$5,115$4,718$4,351$2,907
9 years$5,283$4,826$4,405$4,019$3,664$2,307
10 years$4,706$4,254$3,841$3,464$3,122$1,850
11 years$4,235$3,787$3,381$3,015$2,685$1,495
12 years$3,842$3,399$3,001$2,645$2,327$1,215
13 years$3,510$3,072$2,681$2,335$2,029$992
14 years$3,226$2,792$2,409$2,073$1,779$813
15 years$2,980$2,551$2,175$1,848$1,566$669
16 years$2,765$2,340$1,972$1,655$1,384$551
17 years$2,575$2,155$1,794$1,487$1,227$456
18 years$2,407$1,991$1,638$1,340$1,091$377
19 years$2,256$1,846$1,499$1,211$973$312
20 years$2,121$1,715$1,376$1,097$869$259
21 years$1,999$1,597$1,266$995$777$215
22 years$1,888$1,491$1,167$905$697$179
23 years$1,786$1,395$1,077$824$626$149
24 years$1,694$1,307$996$752$562$124
25 years$1,609$1,226$923$686$506$103
26 years$1,530$1,153$856$628$456$86
27 years$1,458$1,085$795$575$411$71
28 years$1,391$1,022$739$526$371$59
29 years$1,328$964$687$483$335$50
30 years$1,270$911$640$443$302$41
31 years$1,216$861$597$407$273$34
32 years$1,165$814$557$374$247$29
33 years$1,117$771$520$344$224$24
34 years$1,073$731$486$316$203$20
35 years$1,031$693$454$291$184$17
36 years$991$658$425$268$166$14
37 years$954$625$398$247$151$12
38 years$918$594$372$228$137$10
39 years$885$565$349$210$124$8
40 years$853$537$327$194$112$7
41 years$823$512$307$179$102$6
42 years$794$487$288$165$93$5
43 years$767$464$270$152$84$4
44 years$741$443$253$141$76$3
45 years$717$422$238$130$69$3
46 years$693$403$223$120$63$2
47 years$671$384$210$111$57$2
48 years$649$367$197$102$52$2
49 years$629$350$185$95$47$1
50 years$609$335$174$87$43$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $624,000, adding $4,979 every year, while hoping to spend $44,430 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: 55/36/9 Blend
53$624,000$624,000$624,000$624,000
54$692,784$659,712$650,040$729,099
55$716,175$644,765$624,543$739,283
56$740,462$627,596$596,703$745,044
57$765,691$608,050$566,394$750,253
58$791,909$585,961$533,486$754,863
59$819,166$561,156$497,840$758,826
60$847,519$533,450$459,315$762,094
61$877,024$502,648$417,761$764,613
62$907,745$468,542$373,020$766,329
63$939,750$430,915$324,931$767,187
64$973,110$389,536$273,322$767,126
65$1,007,905$344,161$218,016$766,087
66$1,044,218$294,532$158,827$764,004
67$1,082,141$240,376$95,560$760,814
68$1,121,771$181,407$28,013$756,448
69$1,163,215$117,319$0$750,835
70$1,206,587$47,792$0$748,137
71$1,252,013$0$0$747,192
72$1,299,625$0$0$756,155
73$1,349,572$0$0$785,433
74$1,402,010$0$0$816,191
75$1,457,113$0$0$848,532
76$1,515,068$0$0$882,567
77$1,576,078$0$0$918,420
78$1,640,364$0$0$956,224
79$1,708,169$0$0$996,123
80$1,779,756$0$0$1,038,277
81$1,855,410$0$0$1,082,858
82$1,935,447$0$0$1,130,054
83$2,020,207$0$0$1,180,072
84$2,110,063$0$0$1,233,137
85$2,205,425$0$0$1,289,493
86$2,306,738$0$0$1,349,412
87$2,414,490$0$0$1,413,186
88$2,529,215$0$0$1,481,139
89$2,651,499$0$0$1,553,623
90$2,781,981$0$0$1,631,024
91$2,921,363$0$0$1,713,767
92$3,070,414$0$0$1,802,315
93$3,229,977$0$0$1,897,178
94$3,400,976$0$0$1,998,915
95$3,584,426$0$0$2,108,138
96$3,781,439$0$0$2,225,519
97$3,993,236$0$0$2,351,798
98$4,221,159$0$0$2,487,784
99$4,466,679$0$0$2,634,368
100$4,731,414$0$0$2,792,528