Can I retire at age 54 with 424,000?

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 $424,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$35,014$34,702$34,397$34,100$33,810$32,572
2 years$17,333$17,011$16,698$16,394$16,100$14,866
3 years$11,441$11,117$10,805$10,504$10,215$9,024
4 years$8,495$8,172$7,863$7,568$7,285$6,147
5 years$6,728$6,407$6,102$5,813$5,538$4,455
6 years$5,551$5,232$4,931$4,648$4,382$3,355
7 years$4,710$4,394$4,098$3,822$3,564$2,593
8 years$4,079$3,766$3,475$3,206$2,957$2,041
9 years$3,589$3,279$2,993$2,731$2,490$1,628
10 years$3,198$2,890$2,610$2,354$2,121$1,312
11 years$2,877$2,573$2,298$2,049$1,825$1,065
12 years$2,611$2,309$2,039$1,797$1,581$871
13 years$2,385$2,087$1,822$1,586$1,379$715
14 years$2,192$1,897$1,637$1,408$1,209$589
15 years$2,025$1,733$1,478$1,256$1,064$487
16 years$1,878$1,590$1,340$1,125$940$404
17 years$1,750$1,464$1,219$1,010$834$336
18 years$1,635$1,353$1,113$911$741$280
19 years$1,533$1,254$1,019$823$661$233
20 years$1,441$1,165$935$745$590$195
21 years$1,358$1,085$860$676$528$163
22 years$1,283$1,013$793$615$474$136
23 years$1,214$948$732$560$425$114
24 years$1,151$888$677$511$382$95
25 years$1,093$833$627$466$344$80
26 years$1,040$783$581$426$310$67
27 years$991$737$540$390$279$56
28 years$945$694$502$358$252$47
29 years$903$655$467$328$227$39
30 years$863$619$435$301$206$33
31 years$826$585$406$276$186$28
32 years$792$553$378$254$168$23
33 years$759$524$353$234$152$20
34 years$729$497$330$215$138$16
35 years$700$471$309$198$125$14
36 years$673$447$289$182$113$12
37 years$648$425$270$168$102$10
38 years$624$404$253$155$93$8
39 years$601$384$237$143$84$7
40 years$580$365$222$132$76$6
41 years$559$348$208$121$69$5
42 years$540$331$195$112$63$4
43 years$521$315$183$103$57$3
44 years$504$301$172$96$52$3
45 years$487$287$162$88$47$2
46 years$471$274$152$81$43$2
47 years$456$261$143$75$39$2
48 years$441$249$134$70$35$1
49 years$427$238$126$64$32$1
50 years$414$227$118$59$29$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $424,000, adding $4,419 every year, while hoping to spend $21,830 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: 30/42/28 Blend
53$424,000$424,000$424,000$424,000
54$471,806$449,334$442,762$481,797
55$496,703$448,125$434,368$488,749
56$523,409$446,124$424,961$494,018
57$552,083$443,271$414,483$499,255
58$582,904$439,499$402,877$504,471
59$616,065$434,740$390,078$509,682
60$651,781$428,919$376,023$514,908
61$690,285$421,959$360,642$520,172
62$731,835$413,776$343,865$525,502
63$776,715$404,284$325,617$530,931
64$825,234$393,388$305,820$536,499
65$877,735$380,991$284,392$542,252
66$934,594$366,990$261,249$548,244
67$996,223$351,273$236,301$554,537
68$1,063,077$333,724$209,456$561,203
69$1,135,655$314,221$180,617$568,325
70$1,214,506$292,632$149,682$575,998
71$1,300,236$268,820$116,546$584,331
72$1,393,507$242,640$81,098$593,447
73$1,495,053$213,938$43,223$603,488
74$1,605,678$182,550$2,801$614,611
75$1,726,268$148,306$0$627,000
76$1,857,798$111,023$0$652,909
77$2,001,340$70,510$0$682,193
78$2,158,076$26,565$0$714,317
79$2,329,306$0$0$749,616
80$2,516,461$0$0$798,182
81$2,721,117$0$0$864,777
82$2,945,010$0$0$937,699
83$3,190,049$0$0$1,017,578
84$3,458,339$0$0$1,105,107
85$3,752,196$0$0$1,201,053
86$4,074,171$0$0$1,306,256
87$4,427,074$0$0$1,421,644
88$4,813,999$0$0$1,548,241
89$5,238,355$0$0$1,687,170
90$5,703,894$0$0$1,839,671
91$6,214,753$0$0$2,007,111
92$6,775,484$0$0$2,190,993
93$7,391,105$0$0$2,392,974
94$8,067,142$0$0$2,614,880
95$8,809,681$0$0$2,858,722
96$9,625,431$0$0$3,126,716
97$10,521,777$0$0$3,421,301
98$11,506,859$0$0$3,745,167
99$12,589,643$0$0$4,101,277
100$13,780,007$0$0$4,492,894