Can I retire at age 54 with 494,000?

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 $494,000?

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$40,794$40,431$40,076$39,730$39,392$38,613
2 years$20,195$19,819$19,454$19,101$18,758$17,976
3 years$13,330$12,952$12,588$12,238$11,901$11,141
4 years$9,898$9,521$9,161$8,817$8,488$7,755
5 years$7,839$7,465$7,109$6,772$6,452$5,750
6 years$6,467$6,095$5,745$5,416$5,106$4,433
7 years$5,487$5,119$4,774$4,453$4,152$3,511
8 years$4,753$4,388$4,049$3,735$3,445$2,834
9 years$4,182$3,820$3,488$3,182$2,901$2,320
10 years$3,726$3,368$3,040$2,743$2,472$1,920
11 years$3,352$2,998$2,677$2,387$2,126$1,603
12 years$3,042$2,691$2,376$2,094$1,842$1,348
13 years$2,779$2,432$2,122$1,848$1,606$1,139
14 years$2,554$2,210$1,907$1,641$1,408$968
15 years$2,359$2,019$1,722$1,463$1,240$825
16 years$2,189$1,853$1,561$1,310$1,096$705
17 years$2,038$1,706$1,420$1,177$972$605
18 years$1,905$1,577$1,297$1,061$864$520
19 years$1,786$1,461$1,187$959$770$448
20 years$1,679$1,358$1,089$868$688$386
21 years$1,582$1,265$1,002$788$615$333
22 years$1,494$1,181$924$716$552$288
23 years$1,414$1,104$853$652$495$249
24 years$1,341$1,034$789$595$445$216
25 years$1,274$971$730$543$401$187
26 years$1,212$912$677$497$361$162
27 years$1,154$859$629$455$325$141
28 years$1,101$809$585$417$294$122
29 years$1,052$763$544$382$265$106
30 years$1,006$721$507$351$239$92
31 years$963$681$473$322$217$80
32 years$922$645$441$296$196$70
33 years$885$611$412$272$177$61
34 years$849$579$385$250$160$53
35 years$816$549$360$231$145$46
36 years$785$521$336$212$132$40
37 years$755$495$315$196$119$35
38 years$727$470$295$180$108$30
39 years$700$447$276$166$98$26
40 years$675$425$259$153$89$23
41 years$652$405$243$141$81$20
42 years$629$386$228$131$73$17
43 years$607$368$214$121$66$15
44 years$587$350$201$111$60$13
45 years$567$334$188$103$55$11
46 years$549$319$177$95$50$10
47 years$531$304$166$88$45$9
48 years$514$290$156$81$41$8
49 years$498$277$147$75$37$7
50 years$482$265$138$69$34$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $494,000, adding $3,529 every year, while hoping to spend $32,703 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: 48/44/8 Blend
53$494,000$494,000$494,000$494,000
54$548,028$521,846$514,189$572,995
55$569,131$512,621$496,619$581,260
56$591,291$501,848$477,364$586,498
57$614,580$489,416$456,333$591,423
58$639,079$475,208$433,432$596,016
59$664,873$459,102$408,560$600,258
60$692,058$440,966$381,614$604,129
61$720,736$420,661$352,486$607,612
62$751,018$398,041$321,062$610,688
63$783,027$372,950$287,223$613,341
64$816,897$345,226$250,846$615,555
65$852,773$314,694$211,801$617,318
66$890,813$281,171$169,954$618,616
67$931,191$244,464$125,163$619,442
68$974,098$204,368$77,281$619,789
69$1,019,741$160,667$26,155$619,654
70$1,068,348$113,133$0$619,041
71$1,120,167$61,524$0$620,379
72$1,175,472$5,586$0$623,797
73$1,234,560$0$0$627,094
74$1,297,760$0$0$656,917
75$1,365,431$0$0$691,781
76$1,437,966$0$0$729,190
77$1,515,797$0$0$769,369
78$1,599,398$0$0$812,569
79$1,689,290$0$0$859,065
80$1,786,044$0$0$909,157
81$1,890,287$0$0$963,176
82$2,002,707$0$0$1,021,486
83$2,124,062$0$0$1,084,485
84$2,255,183$0$0$1,152,612
85$2,396,985$0$0$1,226,350
86$2,550,471$0$0$1,306,229
87$2,716,746$0$0$1,392,832
88$2,897,024$0$0$1,486,799
89$3,092,640$0$0$1,588,835
90$3,305,062$0$0$1,699,716
91$3,535,907$0$0$1,820,295
92$3,786,950$0$0$1,951,510
93$4,060,146$0$0$2,094,393
94$4,357,647$0$0$2,250,081
95$4,681,819$0$0$2,419,825
96$5,035,266$0$0$2,604,999
97$5,420,856$0$0$2,807,120
98$5,841,744$0$0$3,027,853
99$6,301,404$0$0$3,269,036
100$6,803,658$0$0$3,532,687