Can I retire at age 54 with 620,000?

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 $620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$51,199$50,743$50,298$49,864$49,440$48,581
2 years$25,346$24,874$24,417$23,973$23,543$22,680
3 years$16,730$16,255$15,799$15,360$14,936$14,097
4 years$12,422$11,949$11,498$11,066$10,653$9,843
5 years$9,838$9,369$8,923$8,500$8,098$7,320
6 years$8,116$7,650$7,211$6,797$6,408$5,663
7 years$6,887$6,425$5,992$5,588$5,211$4,499
8 years$5,965$5,507$5,082$4,688$4,323$3,644
9 years$5,249$4,795$4,377$3,993$3,641$2,995
10 years$4,676$4,226$3,816$3,442$3,102$2,488
11 years$4,207$3,763$3,360$2,996$2,668$2,085
12 years$3,817$3,377$2,982$2,628$2,312$1,760
13 years$3,488$3,052$2,664$2,320$2,016$1,493
14 years$3,205$2,774$2,393$2,059$1,767$1,274
15 years$2,961$2,534$2,161$1,836$1,556$1,090
16 years$2,747$2,325$1,959$1,644$1,375$936
17 years$2,558$2,141$1,783$1,477$1,219$806
18 years$2,391$1,979$1,627$1,331$1,084$696
19 years$2,242$1,834$1,490$1,203$966$602
20 years$2,107$1,704$1,367$1,090$863$521
21 years$1,986$1,587$1,258$989$772$452
22 years$1,875$1,482$1,159$899$692$393
23 years$1,775$1,386$1,070$819$622$342
24 years$1,683$1,298$990$747$559$297
25 years$1,598$1,218$917$682$503$259
26 years$1,521$1,145$850$624$453$226
27 years$1,449$1,078$790$571$408$197
28 years$1,382$1,016$734$523$368$172
29 years$1,320$958$683$480$333$150
30 years$1,262$905$636$440$301$131
31 years$1,208$855$593$404$272$114
32 years$1,158$809$553$372$246$100
33 years$1,110$766$517$342$222$87
34 years$1,066$726$483$314$201$76
35 years$1,024$689$451$289$182$67
36 years$985$654$422$267$165$58
37 years$948$621$395$246$150$51
38 years$912$590$370$226$136$45
39 years$879$561$347$209$123$39
40 years$848$534$325$192$112$34
41 years$818$508$305$178$101$30
42 years$789$484$286$164$92$26
43 years$762$461$268$151$83$23
44 years$737$440$252$140$76$20
45 years$712$419$236$129$69$18
46 years$689$400$222$119$62$15
47 years$667$382$209$110$57$13
48 years$645$364$196$102$51$12
49 years$625$348$184$94$47$10
50 years$605$332$173$87$42$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $620,000, adding $2,167 every year, while hoping to spend $22,550 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: 33/48/19 Blend
53$620,000$620,000$620,000$620,000
54$685,475$652,615$643,005$704,006
55$731,401$660,600$640,553$725,913
56$781,255$668,221$637,263$747,282
57$835,414$675,435$633,083$769,839
58$894,294$682,199$627,958$793,702
59$958,350$688,465$621,833$819,002
60$1,028,084$694,182$614,647$845,883
61$1,104,049$699,297$606,337$874,508
62$1,186,851$703,752$596,839$905,056
63$1,277,160$707,486$586,083$937,726
64$1,375,712$710,435$573,999$972,739
65$1,483,318$712,529$560,511$1,010,340
66$1,600,868$713,695$545,540$1,050,801
67$1,729,346$713,855$529,005$1,094,424
68$1,869,832$712,926$510,819$1,141,544
69$2,023,516$710,821$490,893$1,192,532
70$2,191,709$707,446$469,132$1,247,799
71$2,375,855$702,702$445,439$1,307,801
72$2,577,542$696,485$419,712$1,373,043
73$2,798,521$688,682$391,841$1,444,083
74$3,040,718$679,176$361,716$1,521,543
75$3,306,258$667,841$329,220$1,606,108
76$3,597,477$654,547$294,230$1,698,537
77$3,916,951$639,151$256,618$1,799,671
78$4,267,516$621,505$216,250$1,910,440
79$4,652,296$601,452$172,988$2,031,875
80$5,074,733$578,826$126,686$2,165,115
81$5,538,617$553,450$77,192$2,311,419
82$6,048,125$525,138$24,346$2,472,182
83$6,607,856$493,692$0$2,648,944
84$7,222,879$458,905$0$2,849,907
85$7,898,777$420,555$0$3,076,147
86$8,641,700$378,410$0$3,324,843
87$9,458,424$332,223$0$3,598,334
88$10,356,415$281,733$0$3,899,204
89$11,343,898$226,667$0$4,230,306
90$12,429,934$166,733$0$4,594,787
91$13,624,509$101,624$0$4,996,126
92$14,938,622$31,016$0$5,438,157
93$16,384,394$0$0$5,925,117
94$17,975,178$0$0$6,485,676
95$19,725,689$0$0$7,120,655
96$21,652,139$0$0$7,819,565
97$23,772,391$0$0$8,588,901
98$26,106,129$0$0$9,435,818
99$28,675,040$0$0$10,368,204
100$31,503,021$0$0$11,394,745