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%17%
1 years$51,529$51,070$50,623$50,185$49,759$48,340
2 years$25,510$25,034$24,574$24,128$23,695$22,277
3 years$16,837$16,360$15,901$15,459$15,033$13,660
4 years$12,502$12,027$11,572$11,137$10,722$9,404
5 years$9,902$9,429$8,980$8,554$8,150$6,892
6 years$8,169$7,699$7,257$6,841$6,449$5,250
7 years$6,931$6,466$6,031$5,624$5,245$4,106
8 years$6,004$5,543$5,115$4,718$4,351$3,272
9 years$5,283$4,826$4,405$4,019$3,664$2,644
10 years$4,706$4,254$3,841$3,464$3,122$2,159
11 years$4,235$3,787$3,381$3,015$2,685$1,777
12 years$3,842$3,399$3,001$2,645$2,327$1,473
13 years$3,510$3,072$2,681$2,335$2,029$1,227
14 years$3,226$2,792$2,409$2,073$1,779$1,026
15 years$2,980$2,551$2,175$1,848$1,566$862
16 years$2,765$2,340$1,972$1,655$1,384$725
17 years$2,575$2,155$1,794$1,487$1,227$612
18 years$2,407$1,991$1,638$1,340$1,091$518
19 years$2,256$1,846$1,499$1,211$973$438
20 years$2,121$1,715$1,376$1,097$869$372
21 years$1,999$1,597$1,266$995$777$316
22 years$1,888$1,491$1,167$905$697$268
23 years$1,786$1,395$1,077$824$626$228
24 years$1,694$1,307$996$752$562$194
25 years$1,609$1,226$923$686$506$165
26 years$1,530$1,153$856$628$456$141
27 years$1,458$1,085$795$575$411$120
28 years$1,391$1,022$739$526$371$103
29 years$1,328$964$687$483$335$87
30 years$1,270$911$640$443$302$75
31 years$1,216$861$597$407$273$64
32 years$1,165$814$557$374$247$54
33 years$1,117$771$520$344$224$46
34 years$1,073$731$486$316$203$40
35 years$1,031$693$454$291$184$34
36 years$991$658$425$268$166$29
37 years$954$625$398$247$151$25
38 years$918$594$372$228$137$21
39 years$885$565$349$210$124$18
40 years$853$537$327$194$112$15
41 years$823$512$307$179$102$13
42 years$794$487$288$165$93$11
43 years$767$464$270$152$84$10
44 years$741$443$253$141$76$8
45 years$717$422$238$130$69$7
46 years$693$403$223$120$63$6
47 years$671$384$210$111$57$5
48 years$649$367$197$102$52$4
49 years$629$350$185$95$47$4
50 years$609$335$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 $624,000, adding $6,483 every year, while hoping to spend $28,392 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: 64/10/26 Blend
53$624,000$624,000$624,000$624,000
54$694,335$661,263$651,591$733,629
55$734,949$663,456$643,211$763,161
56$778,753$664,805$633,598$791,689
57$826,044$665,239$622,681$822,232
58$877,146$664,681$610,387$854,991
59$932,416$663,051$596,636$890,188
60$992,246$660,265$581,347$928,070
61$1,057,068$656,230$564,435$968,907
62$1,127,355$650,852$545,810$1,013,001
63$1,203,630$644,028$525,379$1,060,683
64$1,286,464$635,650$503,043$1,112,321
65$1,376,490$625,604$478,702$1,168,319
66$1,474,402$613,767$452,248$1,229,126
67$1,580,961$600,013$423,569$1,295,236
68$1,697,009$584,203$392,548$1,367,198
69$1,823,470$566,195$359,064$1,445,614
70$1,961,361$545,836$322,990$1,531,152
71$2,111,801$522,963$284,192$1,624,550
72$2,276,024$497,407$242,531$1,726,620
73$2,455,385$468,987$197,862$1,838,263
74$2,651,377$437,510$150,034$1,960,470
75$2,865,646$402,776$98,888$2,094,338
76$3,100,000$364,571$44,260$2,241,076
77$3,356,434$322,669$0$2,402,020
78$3,637,141$276,830$0$2,582,540
79$3,944,539$226,804$0$2,793,725
80$4,281,287$172,323$0$3,025,132
81$4,650,318$113,107$0$3,278,798
82$5,054,859$48,857$0$3,556,968
83$5,498,465$0$0$3,862,116
84$5,985,050$0$0$4,199,251
85$6,518,928$0$0$4,575,095
86$7,104,849$0$0$4,987,622
87$7,748,045$0$0$5,440,522
88$8,454,280$0$0$5,937,859
89$9,229,903$0$0$6,484,110
90$10,081,908$0$0$7,084,206
91$11,017,999$0$0$7,743,583
92$12,046,666$0$0$8,468,224
93$13,177,259$0$0$9,264,726
94$14,420,080$0$0$10,140,351
95$15,786,480$0$0$11,103,105
96$17,288,962$0$0$12,161,806
97$18,941,303$0$0$13,326,169
98$20,758,682$0$0$14,606,899
99$22,757,824$0$0$16,015,789
100$24,957,152$0$0$17,565,834