Can I retire at age 54 with 605,000?

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 $605,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$49,960$49,515$49,081$48,657$48,244$46,606
2 years$24,733$24,272$23,826$23,393$22,973$21,340
3 years$16,325$15,862$15,417$14,988$14,575$12,997
4 years$12,122$11,660$11,220$10,798$10,395$8,885
5 years$9,600$9,142$8,707$8,294$7,902$6,463
6 years$7,920$7,465$7,036$6,633$6,253$4,887
7 years$6,720$6,269$5,847$5,453$5,085$3,791
8 years$5,821$5,374$4,959$4,575$4,219$2,996
9 years$5,122$4,679$4,271$3,896$3,553$2,400
10 years$4,563$4,124$3,724$3,359$3,027$1,943
11 years$4,106$3,672$3,278$2,923$2,603$1,585
12 years$3,725$3,295$2,909$2,564$2,256$1,301
13 years$3,403$2,978$2,599$2,264$1,967$1,074
14 years$3,128$2,707$2,336$2,009$1,725$890
15 years$2,889$2,473$2,109$1,792$1,518$739
16 years$2,680$2,269$1,912$1,605$1,342$616
17 years$2,497$2,089$1,740$1,442$1,190$515
18 years$2,333$1,931$1,588$1,299$1,058$431
19 years$2,187$1,789$1,454$1,174$943$361
20 years$2,056$1,663$1,334$1,063$842$303
21 years$1,938$1,549$1,227$965$754$254
22 years$1,830$1,446$1,131$877$676$214
23 years$1,732$1,352$1,044$799$607$180
24 years$1,642$1,267$966$729$545$152
25 years$1,560$1,189$895$666$491$128
26 years$1,484$1,117$830$609$442$108
27 years$1,414$1,052$770$557$398$91
28 years$1,348$991$716$510$359$76
29 years$1,288$935$667$468$325$64
30 years$1,232$883$621$430$293$54
31 years$1,179$835$579$394$265$46
32 years$1,130$790$540$363$240$39
33 years$1,083$748$504$333$217$33
34 years$1,040$709$471$307$197$28
35 years$999$672$440$282$178$23
36 years$961$638$412$260$161$20
37 years$925$606$386$240$146$17
38 years$890$576$361$221$133$14
39 years$858$548$338$204$120$12
40 years$827$521$317$188$109$10
41 years$798$496$297$173$99$8
42 years$770$472$279$160$90$7
43 years$744$450$262$148$81$6
44 years$719$429$246$136$74$5
45 years$695$409$231$126$67$4
46 years$672$390$217$116$61$4
47 years$650$372$204$107$55$3
48 years$630$356$191$99$50$3
49 years$610$340$180$92$46$2
50 years$591$324$169$85$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $605,000, adding $5,975 every year, while hoping to spend $28,118 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: 43/37/20 Blend
53$605,000$605,000$605,000$605,000
54$672,873$640,808$631,431$697,658
55$711,589$642,290$622,666$717,246
56$753,311$642,903$612,666$735,252
57$798,317$642,573$601,358$754,180
58$846,911$641,225$588,669$774,129
59$899,427$638,776$574,521$795,211
60$956,233$635,141$558,832$817,548
61$1,017,733$630,226$541,517$841,279
62$1,084,370$623,936$522,486$866,559
63$1,156,634$616,167$501,647$893,560
64$1,235,060$606,809$478,902$922,472
65$1,320,241$595,747$454,150$953,512
66$1,412,825$582,858$427,283$986,916
67$1,513,526$568,011$398,191$1,022,949
68$1,623,132$551,070$366,756$1,061,908
69$1,742,508$531,889$332,859$1,104,121
70$1,872,605$510,312$296,370$1,149,952
71$2,014,471$486,178$257,159$1,199,808
72$2,169,259$459,313$215,087$1,254,139
73$2,338,240$429,536$170,008$1,313,446
74$2,522,809$396,652$121,773$1,378,286
75$2,724,506$360,458$70,222$1,449,275
76$2,945,024$320,738$15,192$1,527,099
77$3,186,226$277,265$0$1,612,517
78$3,450,167$229,797$0$1,715,661
79$3,739,107$178,079$0$1,832,240
80$4,055,535$121,844$0$1,960,082
81$4,402,192$60,807$0$2,100,376
82$4,782,097$0$0$2,254,436
83$5,198,576$0$0$2,425,886
84$5,655,289$0$0$2,641,123
85$6,156,271$0$0$2,877,299
86$6,705,964$0$0$3,136,519
87$7,309,260$0$0$3,421,100
88$7,971,550$0$0$3,733,595
89$8,698,771$0$0$4,076,816
90$9,497,464$0$0$4,453,862
91$10,374,832$0$0$4,868,143
92$11,338,815$0$0$5,323,422
93$12,398,154$0$0$5,823,838
94$13,562,484$0$0$6,373,956
95$14,842,416$0$0$6,978,803
96$16,249,644$0$0$7,643,917
97$17,797,047$0$0$8,375,402
98$19,498,819$0$0$9,179,979
99$21,370,595$0$0$10,065,057
100$23,429,604$0$0$11,038,798