Can I retire at age 54 with 642,000?

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 $642,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$53,016$52,544$52,083$51,633$51,194$50,533
2 years$26,245$25,757$25,283$24,824$24,378$23,713
3 years$17,323$16,832$16,360$15,905$15,466$14,818
4 years$12,863$12,373$11,906$11,458$11,031$10,404
5 years$10,187$9,701$9,239$8,801$8,385$7,783
6 years$8,404$7,922$7,467$7,038$6,635$6,056
7 years$7,131$6,653$6,205$5,787$5,396$4,842
8 years$6,177$5,702$5,262$4,854$4,477$3,947
9 years$5,435$4,965$4,532$4,135$3,770$3,264
10 years$4,842$4,376$3,951$3,564$3,212$2,730
11 years$4,357$3,896$3,479$3,102$2,763$2,304
12 years$3,953$3,497$3,087$2,721$2,394$1,958
13 years$3,611$3,160$2,758$2,402$2,088$1,674
14 years$3,319$2,873$2,478$2,132$1,830$1,438
15 years$3,066$2,624$2,238$1,902$1,611$1,240
16 years$2,844$2,408$2,029$1,703$1,424$1,073
17 years$2,649$2,217$1,846$1,530$1,263$931
18 years$2,476$2,049$1,685$1,379$1,123$810
19 years$2,321$1,899$1,543$1,246$1,001$706
20 years$2,182$1,765$1,416$1,128$894$617
21 years$2,056$1,644$1,302$1,024$800$540
22 years$1,942$1,534$1,200$931$717$473
23 years$1,838$1,435$1,108$848$644$415
24 years$1,743$1,344$1,025$773$578$364
25 years$1,655$1,262$949$706$521$320
26 years$1,575$1,186$880$646$469$281
27 years$1,500$1,116$818$591$423$247
28 years$1,431$1,052$760$542$381$218
29 years$1,367$992$707$497$344$192
30 years$1,307$937$659$456$311$169
31 years$1,251$886$614$419$281$149
32 years$1,199$838$573$385$255$131
33 years$1,150$794$535$354$230$116
34 years$1,104$752$500$326$209$102
35 years$1,060$713$467$300$189$90
36 years$1,020$677$437$276$171$80
37 years$981$643$409$254$155$70
38 years$945$611$383$234$141$62
39 years$910$581$359$216$128$55
40 years$878$553$337$199$116$48
41 years$847$526$316$184$105$43
42 years$817$501$296$170$95$38
43 years$789$478$278$157$86$33
44 years$763$455$261$145$78$30
45 years$737$434$245$134$71$26
46 years$713$414$230$123$65$23
47 years$690$395$216$114$59$20
48 years$668$377$203$105$53$18
49 years$647$360$191$97$48$16
50 years$627$344$179$90$44$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $642,000, adding $3,114 every year, while hoping to spend $42,687 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: 74/13/13 Blend
53$642,000$642,000$642,000$642,000
54$710,696$676,670$666,719$761,136
55$737,768$664,408$643,636$782,632
56$766,172$650,115$618,348$800,571
57$795,996$633,646$590,738$819,063
58$827,340$614,847$560,680$838,153
59$860,311$593,557$528,045$857,888
60$895,026$569,604$492,698$878,321
61$931,611$542,807$454,495$899,512
62$970,204$512,973$413,290$921,528
63$1,010,956$479,900$368,926$944,443
64$1,054,031$443,373$321,243$968,341
65$1,099,609$403,165$270,071$993,313
66$1,147,884$359,035$215,234$1,019,463
67$1,199,072$310,731$156,547$1,046,907
68$1,253,405$257,984$93,819$1,075,772
69$1,311,138$200,512$26,848$1,106,202
70$1,372,552$138,014$0$1,138,355
71$1,437,951$70,176$0$1,178,599
72$1,507,672$0$0$1,225,316
73$1,582,080$0$0$1,275,509
74$1,661,578$0$0$1,339,876
75$1,746,605$0$0$1,408,738
76$1,837,645$0$0$1,482,488
77$1,935,226$0$0$1,561,558
78$2,039,931$0$0$1,646,420
79$2,152,396$0$0$1,737,594
80$2,273,320$0$0$1,835,650
81$2,403,472$0$0$1,941,213
82$2,543,695$0$0$2,054,971
83$2,694,916$0$0$2,177,678
84$2,858,152$0$0$2,310,165
85$3,034,521$0$0$2,453,341
86$3,225,252$0$0$2,608,209
87$3,431,695$0$0$2,775,869
88$3,655,337$0$0$2,957,532
89$3,897,808$0$0$3,154,528
90$4,160,904$0$0$3,368,320
91$4,446,601$0$0$3,600,518
92$4,757,068$0$0$3,852,892
93$5,094,697$0$0$4,127,389
94$5,462,114$0$0$4,426,153
95$5,862,212$0$0$4,751,540
96$6,298,173$0$0$5,106,145
97$6,773,500$0$0$5,492,823
98$7,292,047$0$0$5,914,717
99$7,858,057$0$0$6,375,285
100$8,476,200$0$0$6,878,334