Can I retire at age 54 with 506,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $506,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$41,785$41,413$41,050$40,695$40,349$39,895
2 years$20,686$20,300$19,927$19,565$19,214$18,756
3 years$13,653$13,267$12,894$12,535$12,190$11,744
4 years$10,138$9,752$9,384$9,031$8,694$8,262
5 years$8,029$7,646$7,282$6,937$6,609$6,193
6 years$6,624$6,243$5,885$5,547$5,230$4,830
7 years$5,621$5,243$4,890$4,561$4,253$3,870
8 years$4,868$4,494$4,147$3,826$3,528$3,162
9 years$4,284$3,913$3,572$3,259$2,971$2,621
10 years$3,816$3,449$3,114$2,809$2,532$2,198
11 years$3,434$3,071$2,742$2,445$2,177$1,859
12 years$3,115$2,756$2,433$2,144$1,887$1,584
13 years$2,846$2,491$2,174$1,893$1,645$1,358
14 years$2,616$2,264$1,953$1,681$1,442$1,169
15 years$2,416$2,068$1,764$1,499$1,270$1,011
16 years$2,242$1,898$1,599$1,342$1,122$878
17 years$2,088$1,748$1,455$1,206$995$764
18 years$1,951$1,615$1,328$1,087$885$666
19 years$1,829$1,497$1,216$982$789$583
20 years$1,720$1,391$1,116$889$704$510
21 years$1,621$1,295$1,026$807$630$448
22 years$1,531$1,209$946$734$565$393
23 years$1,449$1,131$873$668$507$346
24 years$1,374$1,060$808$610$456$305
25 years$1,305$994$748$557$410$269
26 years$1,241$935$694$509$370$237
27 years$1,182$880$644$466$333$209
28 years$1,128$829$599$427$301$185
29 years$1,077$782$557$391$271$163
30 years$1,030$738$519$359$245$144
31 years$986$698$484$330$222$128
32 years$945$660$452$303$201$113
33 years$906$625$422$279$182$100
34 years$870$593$394$257$164$88
35 years$836$562$368$236$149$78
36 years$804$534$345$218$135$69
37 years$773$507$323$200$122$61
38 years$745$482$302$185$111$54
39 years$717$458$283$170$101$48
40 years$692$436$265$157$91$43
41 years$667$415$249$145$83$38
42 years$644$395$233$134$75$34
43 years$622$376$219$123$68$30
44 years$601$359$205$114$62$26
45 years$581$342$193$105$56$23
46 years$562$326$181$97$51$21
47 years$544$312$170$90$46$18
48 years$527$297$160$83$42$16
49 years$510$284$150$77$38$15
50 years$494$271$141$71$35$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $506,000, adding $6,013 every year, while hoping to spend $31,923 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: 62/15/23 Blend
53$506,000$506,000$506,000$506,000
54$563,814$536,996$529,153$595,014
55$587,358$529,343$512,914$609,180
56$612,232$520,245$495,061$620,584
57$638,541$509,598$475,506$632,322
58$666,394$497,291$454,158$644,430
59$695,914$483,206$430,920$656,951
60$727,234$467,220$405,693$669,933
61$760,500$449,201$378,371$683,429
62$795,869$429,010$348,845$697,501
63$833,517$406,501$317,000$712,216
64$873,634$381,518$282,718$727,652
65$916,428$353,896$245,873$743,897
66$962,128$323,461$206,334$761,048
67$1,010,985$290,031$163,966$779,216
68$1,063,273$253,410$118,626$798,523
69$1,119,293$213,393$70,167$819,107
70$1,179,376$169,764$18,432$841,125
71$1,243,883$122,293$0$864,748
72$1,313,212$70,739$0$899,196
73$1,387,801$14,846$0$941,074
74$1,468,127$0$0$986,139
75$1,554,719$0$0$1,042,240
76$1,648,153$0$0$1,105,448
77$1,749,065$0$0$1,173,745
78$1,858,153$0$0$1,247,608
79$1,976,185$0$0$1,327,561
80$2,104,004$0$0$1,414,178
81$2,242,538$0$0$1,508,094
82$2,392,805$0$0$1,610,004
83$2,555,928$0$0$1,720,673
84$2,733,140$0$0$1,840,943
85$2,925,797$0$0$1,971,741
86$3,135,392$0$0$2,114,086
87$3,363,568$0$0$2,269,098
88$3,612,132$0$0$2,438,012
89$3,883,071$0$0$2,622,186
90$4,178,575$0$0$2,823,113
91$4,501,052$0$0$3,042,439
92$4,853,155$0$0$3,281,974
93$5,237,801$0$0$3,543,712
94$5,658,204$0$0$3,829,847
95$6,117,902$0$0$4,142,796
96$6,620,790$0$0$4,485,217
97$7,171,157$0$0$4,860,041
98$7,773,725$0$0$5,270,493
99$8,433,695$0$0$5,720,124
100$9,156,794$0$0$6,212,848