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%16.6%
1 years$40,794$40,431$40,076$39,730$39,392$38,331
2 years$20,195$19,819$19,454$19,101$18,758$17,697
3 years$13,330$12,952$12,588$12,238$11,901$10,872
4 years$9,898$9,521$9,161$8,817$8,488$7,500
5 years$7,839$7,465$7,109$6,772$6,452$5,508
6 years$6,467$6,095$5,745$5,416$5,106$4,206
7 years$5,487$5,119$4,774$4,453$4,152$3,297
8 years$4,753$4,388$4,049$3,735$3,445$2,633
9 years$4,182$3,820$3,488$3,182$2,901$2,133
10 years$3,726$3,368$3,040$2,743$2,472$1,746
11 years$3,352$2,998$2,677$2,387$2,126$1,441
12 years$3,042$2,691$2,376$2,094$1,842$1,197
13 years$2,779$2,432$2,122$1,848$1,606$1,000
14 years$2,554$2,210$1,907$1,641$1,408$839
15 years$2,359$2,019$1,722$1,463$1,240$706
16 years$2,189$1,853$1,561$1,310$1,096$596
17 years$2,038$1,706$1,420$1,177$972$505
18 years$1,905$1,577$1,297$1,061$864$428
19 years$1,786$1,461$1,187$959$770$364
20 years$1,679$1,358$1,089$868$688$309
21 years$1,582$1,265$1,002$788$615$263
22 years$1,494$1,181$924$716$552$225
23 years$1,414$1,104$853$652$495$192
24 years$1,341$1,034$789$595$445$164
25 years$1,274$971$730$543$401$140
26 years$1,212$912$677$497$361$120
27 years$1,154$859$629$455$325$102
28 years$1,101$809$585$417$294$88
29 years$1,052$763$544$382$265$75
30 years$1,006$721$507$351$239$64
31 years$963$681$473$322$217$55
32 years$922$645$441$296$196$47
33 years$885$611$412$272$177$40
34 years$849$579$385$250$160$35
35 years$816$549$360$231$145$30
36 years$785$521$336$212$132$25
37 years$755$495$315$196$119$22
38 years$727$470$295$180$108$19
39 years$700$447$276$166$98$16
40 years$675$425$259$153$89$14
41 years$652$405$243$141$81$12
42 years$629$386$228$131$73$10
43 years$607$368$214$121$66$9
44 years$587$350$201$111$60$7
45 years$567$334$188$103$55$6
46 years$549$319$177$95$50$5
47 years$531$304$166$88$45$5
48 years$514$290$156$81$41$4
49 years$498$277$147$75$37$3
50 years$482$265$138$69$34$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $494,000, adding $2,303 every year, while hoping to spend $37,822 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: 55/29/16 Blend
53$494,000$494,000$494,000$494,000
54$546,764$520,582$512,925$574,397
55$562,291$505,848$489,865$578,738
56$578,135$489,124$464,766$579,199
57$594,287$470,274$437,518$578,847
58$610,738$449,151$408,008$577,615
59$627,476$425,602$376,119$575,428
60$644,486$399,464$341,727$572,208
61$661,751$370,565$304,702$567,870
62$679,249$338,723$264,909$562,325
63$696,958$303,745$222,209$555,476
64$714,849$265,430$176,454$547,220
65$732,888$223,561$127,490$537,447
66$751,039$177,911$75,157$526,038
67$769,258$128,242$19,288$512,868
68$787,497$74,300$0$497,799
69$805,699$15,818$0$487,574
70$823,800$0$0$479,112
71$841,729$0$0$484,136
72$859,405$0$0$494,029
73$876,736$0$0$503,688
74$893,620$0$0$513,048
75$909,941$0$0$522,040
76$925,569$0$0$530,584
77$940,360$0$0$538,591
78$954,151$0$0$545,962
79$966,763$0$0$552,587
80$977,992$0$0$558,342
81$987,615$0$0$563,090
82$995,380$0$0$566,678
83$1,001,008$0$0$568,935
84$1,004,189$0$0$569,674
85$1,004,579$0$0$568,683
86$1,001,794$0$0$565,729
87$995,410$0$0$560,553
88$984,955$0$0$552,869
89$969,905$0$0$542,358
90$949,682$0$0$528,668
91$923,643$0$0$511,407
92$891,077$0$0$490,144
93$851,195$0$0$464,398
94$803,126$0$0$433,641
95$745,904$0$0$397,285
96$678,464$0$0$354,683
97$599,623$0$0$305,117
98$508,077$0$0$247,794
99$402,383$0$0$181,838
100$280,947$0$0$106,281