Can I retire at age 54 with 340,000?

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 $340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$28,077$27,827$27,583$27,345$27,112$26,652
2 years$13,899$13,641$13,390$13,146$12,911$12,448
3 years$9,174$8,914$8,664$8,423$8,191$7,741
4 years$6,812$6,553$6,305$6,068$5,842$5,408
5 years$5,395$5,138$4,893$4,661$4,441$4,024
6 years$4,451$4,195$3,954$3,727$3,514$3,115
7 years$3,777$3,523$3,286$3,065$2,858$2,476
8 years$3,271$3,020$2,787$2,571$2,371$2,007
9 years$2,878$2,629$2,400$2,190$1,997$1,650
10 years$2,564$2,318$2,093$1,888$1,701$1,372
11 years$2,307$2,063$1,842$1,643$1,463$1,150
12 years$2,093$1,852$1,635$1,441$1,268$971
13 years$1,913$1,674$1,461$1,272$1,106$825
14 years$1,758$1,521$1,313$1,129$969$704
15 years$1,624$1,390$1,185$1,007$853$603
16 years$1,506$1,275$1,074$902$754$518
17 years$1,403$1,174$978$810$669$447
18 years$1,311$1,085$892$730$595$386
19 years$1,229$1,006$817$660$530$334
20 years$1,156$934$750$598$473$289
21 years$1,089$870$690$542$424$251
22 years$1,028$813$636$493$380$218
23 years$973$760$587$449$341$190
24 years$923$712$543$410$306$166
25 years$877$668$503$374$276$144
26 years$834$628$466$342$248$126
27 years$794$591$433$313$224$110
28 years$758$557$403$287$202$96
29 years$724$525$375$263$182$84
30 years$692$496$349$241$165$73
31 years$663$469$325$222$149$64
32 years$635$444$303$204$135$56
33 years$609$420$283$187$122$49
34 years$585$398$265$172$110$43
35 years$562$378$248$159$100$38
36 years$540$359$232$146$91$33
37 years$520$341$217$135$82$29
38 years$500$324$203$124$74$25
39 years$482$308$190$114$68$22
40 years$465$293$178$106$61$19
41 years$448$279$167$97$56$17
42 years$433$265$157$90$50$15
43 years$418$253$147$83$46$13
44 years$404$241$138$77$42$11
45 years$391$230$130$71$38$10
46 years$378$219$122$65$34$9
47 years$366$209$114$60$31$8
48 years$354$200$108$56$28$7
49 years$343$191$101$52$26$6
50 years$332$182$95$48$23$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $340,000, adding $5,899 every year, while hoping to spend $23,189 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: 86/8/6 Blend
53$340,000$340,000$340,000$340,000
54$380,765$362,745$357,475$412,897
55$394,930$355,846$344,777$427,836
56$409,763$347,833$330,877$440,431
57$425,307$338,625$315,710$453,525
58$441,609$328,139$299,207$467,149
59$458,722$316,286$281,299$481,342
60$476,700$302,972$261,911$496,143
61$495,604$288,099$240,966$511,597
62$515,500$271,560$218,383$527,752
63$536,460$253,246$194,078$544,663
64$558,562$233,038$167,963$562,387
65$581,891$210,812$139,945$580,990
66$606,540$186,438$109,929$600,543
67$632,610$159,776$77,814$621,123
68$660,211$130,680$43,496$642,817
69$689,464$98,995$6,865$665,720
70$720,502$64,558$0$689,935
71$753,468$27,196$0$717,641
72$788,519$0$0$747,504
73$825,829$0$0$780,401
74$865,587$0$0$818,009
75$907,999$0$0$858,130
76$953,291$0$0$900,979
77$1,001,713$0$0$946,792
78$1,053,536$0$0$995,825
79$1,109,059$0$0$1,048,362
80$1,168,610$0$0$1,104,714
81$1,232,547$0$0$1,165,220
82$1,301,265$0$0$1,230,254
83$1,375,196$0$0$1,300,227
84$1,454,816$0$0$1,375,588
85$1,540,648$0$0$1,456,832
86$1,633,263$0$0$1,544,502
87$1,733,292$0$0$1,639,196
88$1,841,428$0$0$1,741,568
89$1,958,430$0$0$1,852,341
90$2,085,136$0$0$1,972,306
91$2,222,465$0$0$2,102,335
92$2,371,428$0$0$2,243,386
93$2,533,136$0$0$2,396,512
94$2,708,813$0$0$2,562,873
95$2,899,804$0$0$2,743,743
96$3,107,589$0$0$2,940,524
97$3,333,796$0$0$3,154,760
98$3,580,217$0$0$3,388,148
99$3,848,824$0$0$3,642,558
100$4,141,786$0$0$3,920,046