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%11.8%
1 years$51,529$51,070$50,623$50,185$49,759$49,383
2 years$25,510$25,034$24,574$24,128$23,695$23,316
3 years$16,837$16,360$15,901$15,459$15,033$14,663
4 years$12,502$12,027$11,572$11,137$10,722$10,363
5 years$9,902$9,429$8,980$8,554$8,150$7,804
6 years$8,169$7,699$7,257$6,841$6,449$6,116
7 years$6,931$6,466$6,031$5,624$5,245$4,925
8 years$6,004$5,543$5,115$4,718$4,351$4,044
9 years$5,283$4,826$4,405$4,019$3,664$3,371
10 years$4,706$4,254$3,841$3,464$3,122$2,841
11 years$4,235$3,787$3,381$3,015$2,685$2,417
12 years$3,842$3,399$3,001$2,645$2,327$2,071
13 years$3,510$3,072$2,681$2,335$2,029$1,786
14 years$3,226$2,792$2,409$2,073$1,779$1,547
15 years$2,980$2,551$2,175$1,848$1,566$1,346
16 years$2,765$2,340$1,972$1,655$1,384$1,175
17 years$2,575$2,155$1,794$1,487$1,227$1,029
18 years$2,407$1,991$1,638$1,340$1,091$904
19 years$2,256$1,846$1,499$1,211$973$796
20 years$2,121$1,715$1,376$1,097$869$701
21 years$1,999$1,597$1,266$995$777$620
22 years$1,888$1,491$1,167$905$697$548
23 years$1,786$1,395$1,077$824$626$485
24 years$1,694$1,307$996$752$562$430
25 years$1,609$1,226$923$686$506$382
26 years$1,530$1,153$856$628$456$339
27 years$1,458$1,085$795$575$411$302
28 years$1,391$1,022$739$526$371$268
29 years$1,328$964$687$483$335$239
30 years$1,270$911$640$443$302$213
31 years$1,216$861$597$407$273$190
32 years$1,165$814$557$374$247$169
33 years$1,117$771$520$344$224$151
34 years$1,073$731$486$316$203$134
35 years$1,031$693$454$291$184$120
36 years$991$658$425$268$166$107
37 years$954$625$398$247$151$96
38 years$918$594$372$228$137$85
39 years$885$565$349$210$124$76
40 years$853$537$327$194$112$68
41 years$823$512$307$179$102$61
42 years$794$487$288$165$93$54
43 years$767$464$270$152$84$49
44 years$741$443$253$141$76$43
45 years$717$422$238$130$69$39
46 years$693$403$223$120$63$35
47 years$671$384$210$111$57$31
48 years$649$367$197$102$52$28
49 years$629$350$185$95$47$25
50 years$609$335$174$87$43$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $624,000, adding $4,782 every year, while hoping to spend $45,230 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: 54/29/17 Blend
53$624,000$624,000$624,000$624,000
54$692,581$659,509$649,837$726,573
55$715,099$643,700$623,482$734,513
56$738,399$625,601$594,728$737,934
57$762,512$605,052$563,448$740,653
58$787,471$581,882$529,506$742,615
59$813,313$555,914$492,764$743,762
60$840,074$526,957$453,075$744,034
61$867,795$494,811$410,286$743,366
62$896,517$459,264$364,238$741,690
63$926,285$420,091$314,763$738,937
64$957,147$377,057$261,689$735,031
65$989,153$329,909$204,832$729,896
66$1,022,356$278,384$144,003$723,448
67$1,056,814$222,203$79,005$715,602
68$1,092,587$161,069$9,630$706,268
69$1,129,740$94,670$0$695,352
70$1,168,343$22,678$0$694,439
71$1,208,469$0$0$694,366
72$1,250,198$0$0$710,953
73$1,293,616$0$0$735,750
74$1,338,812$0$0$761,573
75$1,385,886$0$0$788,479
76$1,434,943$0$0$816,530
77$1,486,096$0$0$845,793
78$1,539,467$0$0$876,339
79$1,595,189$0$0$908,245
80$1,653,403$0$0$941,595
81$1,714,264$0$0$976,479
82$1,777,937$0$0$1,012,995
83$1,844,602$0$0$1,051,248
84$1,914,455$0$0$1,091,353
85$1,987,706$0$0$1,133,434
86$2,064,585$0$0$1,177,627
87$2,145,341$0$0$1,224,078
88$2,230,245$0$0$1,272,947
89$2,319,590$0$0$1,324,406
90$2,413,697$0$0$1,378,645
91$2,512,914$0$0$1,435,870
92$2,617,622$0$0$1,496,305
93$2,728,234$0$0$1,560,194
94$2,845,202$0$0$1,627,805
95$2,969,020$0$0$1,699,429
96$3,100,226$0$0$1,775,385
97$3,239,409$0$0$1,856,020
98$3,387,211$0$0$1,941,716
99$3,544,337$0$0$2,032,889
100$3,711,556$0$0$2,129,995