Can I retire at age 54 with 296,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $296,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$24,443$24,226$24,013$23,806$23,603$22,986
2 years$12,101$11,875$11,657$11,445$11,240$10,622
3 years$7,987$7,761$7,543$7,333$7,131$6,532
4 years$5,931$5,705$5,489$5,283$5,086$4,511
5 years$4,697$4,473$4,260$4,058$3,866$3,316
6 years$3,875$3,652$3,443$3,245$3,059$2,535
7 years$3,288$3,067$2,861$2,668$2,488$1,989
8 years$2,848$2,629$2,426$2,238$2,064$1,591
9 years$2,506$2,289$2,090$1,906$1,738$1,290
10 years$2,232$2,018$1,822$1,643$1,481$1,057
11 years$2,009$1,796$1,604$1,430$1,274$874
12 years$1,822$1,612$1,423$1,254$1,104$727
13 years$1,665$1,457$1,272$1,107$963$608
14 years$1,530$1,324$1,143$983$844$511
15 years$1,413$1,210$1,032$877$743$431
16 years$1,311$1,110$935$785$657$364
17 years$1,221$1,022$851$705$582$309
18 years$1,142$945$777$636$518$262
19 years$1,070$875$711$574$461$223
20 years$1,006$814$653$520$412$190
21 years$948$758$600$472$369$162
22 years$895$707$553$429$331$138
23 years$847$662$511$391$297$118
24 years$803$620$473$357$267$101
25 years$763$582$438$326$240$87
26 years$726$547$406$298$216$74
27 years$692$515$377$273$195$64
28 years$660$485$350$250$176$54
29 years$630$457$326$229$159$47
30 years$603$432$304$210$143$40
31 years$577$408$283$193$130$34
32 years$553$386$264$177$117$29
33 years$530$366$247$163$106$25
34 years$509$347$230$150$96$22
35 years$489$329$215$138$87$19
36 years$470$312$202$127$79$16
37 years$452$297$189$117$72$14
38 years$436$282$177$108$65$12
39 years$420$268$166$100$59$10
40 years$405$255$155$92$53$9
41 years$390$243$145$85$48$7
42 years$377$231$136$78$44$6
43 years$364$220$128$72$40$6
44 years$352$210$120$67$36$5
45 years$340$200$113$62$33$4
46 years$329$191$106$57$30$3
47 years$318$182$100$53$27$3
48 years$308$174$94$49$25$3
49 years$298$166$88$45$22$2
50 years$289$159$83$41$20$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $296,000, adding $4,958 every year, while hoping to spend $26,381 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: 47/41/12 Blend
53$296,000$296,000$296,000$296,000
54$331,306$315,618$311,030$345,546
55$337,030$303,014$293,381$343,292
56$342,454$288,909$274,255$337,727
57$347,519$273,200$253,578$331,095
58$352,160$255,780$231,266$323,307
59$356,303$236,537$207,237$314,267
60$359,869$215,350$181,402$303,869
61$362,765$192,092$153,669$292,002
62$364,893$166,630$123,942$278,542
63$366,138$138,821$92,120$263,360
64$366,377$108,516$58,100$246,312
65$365,472$75,558$21,770$227,247
66$363,269$39,779$0$205,999
67$359,598$1,003$0$184,565
68$354,269$0$0$163,692
69$347,073$0$0$158,875
70$337,779$0$0$153,403
71$326,128$0$0$146,690
72$311,837$0$0$138,588
73$294,590$0$0$128,933
74$274,039$0$0$117,544
75$249,798$0$0$104,220
76$221,440$0$0$88,740
77$188,494$0$0$70,858
78$150,437$0$0$50,304
79$106,695$0$0$26,778
80$56,630$0$0$0
81$0$0$0$0
82$0$0$0$0
83$0$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0