Can I retire at age 54 with 298,000?

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 $298,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$24,609$24,389$24,176$23,967$23,763$22,911
2 years$12,182$11,956$11,736$11,522$11,316$10,466
3 years$8,041$7,813$7,594$7,383$7,179$6,359
4 years$5,971$5,743$5,526$5,319$5,120$4,336
5 years$4,729$4,503$4,289$4,085$3,892$3,146
6 years$3,901$3,677$3,466$3,267$3,080$2,372
7 years$3,310$3,088$2,880$2,686$2,505$1,835
8 years$2,867$2,647$2,443$2,253$2,078$1,446
9 years$2,523$2,305$2,104$1,919$1,750$1,155
10 years$2,247$2,031$1,834$1,654$1,491$932
11 years$2,022$1,808$1,615$1,440$1,282$758
12 years$1,835$1,623$1,433$1,263$1,111$620
13 years$1,676$1,467$1,280$1,115$969$510
14 years$1,541$1,333$1,150$990$849$421
15 years$1,423$1,218$1,039$883$748$349
16 years$1,320$1,118$942$790$661$290
17 years$1,230$1,029$857$710$586$241
18 years$1,149$951$782$640$521$201
19 years$1,077$881$716$578$464$168
20 years$1,013$819$657$524$415$140
21 years$954$763$604$475$371$117
22 years$901$712$557$432$333$98
23 years$853$666$514$394$299$82
24 years$809$624$476$359$269$69
25 years$768$586$441$328$242$58
26 years$731$550$409$300$218$49
27 years$696$518$379$274$196$41
28 years$664$488$353$251$177$34
29 years$634$460$328$231$160$29
30 years$607$435$306$212$144$24
31 years$581$411$285$194$131$20
32 years$556$389$266$179$118$17
33 years$534$368$248$164$107$14
34 years$512$349$232$151$97$12
35 years$492$331$217$139$88$10
36 years$473$314$203$128$79$9
37 years$455$299$190$118$72$7
38 years$439$284$178$109$65$6
39 years$423$270$167$100$59$5
40 years$407$257$156$93$54$4
41 years$393$244$146$85$49$4
42 years$379$233$137$79$44$3
43 years$366$222$129$73$40$3
44 years$354$211$121$67$36$2
45 years$342$202$114$62$33$2
46 years$331$192$107$57$30$2
47 years$320$183$100$53$27$1
48 years$310$175$94$49$25$1
49 years$300$167$89$45$22$1
50 years$291$160$83$42$20$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $298,000, adding $3,941 every year, while hoping to spend $22,688 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: 72/20/8 Blend
53$298,000$298,000$298,000$298,000
54$332,461$316,667$312,048$355,676
55$342,232$308,044$298,362$362,911
56$352,240$298,238$283,457$367,627
57$362,484$287,167$267,268$372,161
58$372,963$274,744$249,728$376,489
59$383,677$260,879$230,765$380,585
60$394,623$245,473$210,307$384,420
61$405,798$228,424$188,275$387,964
62$417,196$209,624$164,589$391,184
63$428,812$188,957$139,165$394,045
64$440,639$166,304$111,915$396,506
65$452,667$141,535$82,747$398,528
66$464,884$114,516$51,564$400,064
67$477,279$85,104$18,268$401,066
68$489,834$53,146$0$401,482
69$502,532$18,485$0$402,728
70$515,351$0$0$405,028
71$528,267$0$0$410,958
72$541,251$0$0$421,002
73$554,271$0$0$431,067
74$567,291$0$0$441,122
75$580,268$0$0$451,136
76$593,154$0$0$461,068
77$605,896$0$0$470,877
78$618,434$0$0$480,514
79$630,699$0$0$489,925
80$642,614$0$0$499,049
81$654,093$0$0$507,816
82$665,040$0$0$516,150
83$675,347$0$0$523,965
84$684,894$0$0$531,165
85$693,544$0$0$537,642
86$701,149$0$0$543,278
87$707,541$0$0$547,939
88$712,533$0$0$551,476
89$715,919$0$0$553,726
90$717,467$0$0$554,503
91$716,922$0$0$553,605
92$713,998$0$0$550,806
93$708,381$0$0$545,854
94$699,720$0$0$538,471
95$687,626$0$0$528,350
96$671,670$0$0$515,146
97$651,374$0$0$498,483
98$626,211$0$0$477,939
99$595,596$0$0$453,052
100$558,881$0$0$423,306