Can I retire at age 54 with 388,000?

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 $388,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$32,041$31,755$31,477$31,205$30,940$30,327
2 years$15,862$15,566$15,280$15,002$14,733$14,119
3 years$10,469$10,173$9,887$9,612$9,347$8,750
4 years$7,774$7,478$7,195$6,925$6,667$6,091
5 years$6,157$5,863$5,584$5,319$5,068$4,516
6 years$5,079$4,787$4,513$4,254$4,010$3,482
7 years$4,310$4,021$3,750$3,497$3,261$2,757
8 years$3,733$3,446$3,180$2,934$2,705$2,226
9 years$3,285$3,001$2,739$2,499$2,278$1,822
10 years$2,926$2,645$2,388$2,154$1,941$1,508
11 years$2,633$2,355$2,102$1,875$1,670$1,259
12 years$2,389$2,113$1,866$1,644$1,447$1,059
13 years$2,183$1,910$1,667$1,452$1,262$895
14 years$2,006$1,736$1,498$1,289$1,106$760
15 years$1,853$1,586$1,352$1,149$974$648
16 years$1,719$1,455$1,226$1,029$861$554
17 years$1,601$1,340$1,116$925$763$475
18 years$1,496$1,238$1,018$833$679$408
19 years$1,403$1,148$932$753$605$352
20 years$1,319$1,066$856$682$540$303
21 years$1,243$993$787$619$483$262
22 years$1,174$927$725$563$433$226
23 years$1,111$867$670$512$389$196
24 years$1,053$813$619$467$350$170
25 years$1,000$763$574$427$315$147
26 years$952$717$532$390$283$128
27 years$907$674$494$357$255$111
28 years$865$636$459$327$231$96
29 years$826$600$427$300$208$84
30 years$790$566$398$275$188$73
31 years$756$535$371$253$170$63
32 years$724$506$346$233$154$55
33 years$695$480$323$214$139$48
34 years$667$455$302$197$126$42
35 years$641$431$282$181$114$36
36 years$616$409$264$167$103$31
37 years$593$389$247$154$94$27
38 years$571$369$232$142$85$24
39 years$550$351$217$131$77$21
40 years$530$334$203$120$70$18
41 years$512$318$191$111$63$16
42 years$494$303$179$103$58$14
43 years$477$289$168$95$52$12
44 years$461$275$158$87$47$10
45 years$446$262$148$81$43$9
46 years$431$250$139$75$39$8
47 years$417$239$131$69$35$7
48 years$404$228$123$64$32$6
49 years$391$218$115$59$29$5
50 years$379$208$108$54$27$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $388,000, adding $5,665 every year, while hoping to spend $20,244 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: 29/42/29 Blend
53$388,000$388,000$388,000$388,000
54$433,419$412,855$406,841$441,995
55$456,089$411,546$398,931$447,931
56$480,392$409,494$390,077$452,181
57$506,474$406,641$380,227$456,349
58$534,495$402,927$369,325$460,443
59$564,629$398,286$357,313$464,473
60$597,068$392,649$344,131$468,452
61$632,025$385,944$329,714$472,395
62$669,729$378,094$313,998$476,325
63$710,436$369,015$296,911$480,264
64$754,426$358,622$278,383$484,242
65$802,006$346,823$258,338$488,295
66$853,514$333,521$236,695$492,464
67$909,321$318,612$213,373$496,797
68$969,836$301,989$188,286$501,353
69$1,035,509$283,535$161,342$506,195
70$1,106,832$263,130$132,449$511,402
71$1,184,351$240,645$101,507$517,059
72$1,268,661$215,943$68,415$523,269
73$1,360,422$188,881$33,064$530,145
74$1,460,356$159,308$0$537,818
75$1,569,261$127,063$0$547,880
76$1,688,013$91,976$0$570,069
77$1,817,575$53,868$0$594,373
78$1,959,011$12,550$0$621,048
79$2,113,489$0$0$650,378
80$2,282,295$0$0$697,553
81$2,466,846$0$0$755,529
82$2,668,701$0$0$819,004
83$2,889,579$0$0$888,525
84$3,131,369$0$0$964,696
85$3,396,153$0$0$1,048,182
86$3,686,225$0$0$1,139,712
87$4,004,111$0$0$1,240,095
88$4,352,589$0$0$1,350,216
89$4,734,725$0$0$1,471,054
90$5,153,891$0$0$1,603,686
91$5,613,803$0$0$1,749,298
92$6,118,553$0$0$1,909,196
93$6,672,651$0$0$2,084,820
94$7,281,062$0$0$2,277,756
95$7,949,256$0$0$2,489,750
96$8,683,261$0$0$2,722,727
97$9,489,714$0$0$2,978,806
98$10,375,929$0$0$3,260,325
99$11,349,963$0$0$3,569,855
100$12,420,693$0$0$3,910,232