Can I retire at age 54 with 583,000?

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 $583,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$48,144$47,715$47,296$46,888$46,489$45,365
2 years$23,833$23,390$22,959$22,542$22,138$21,012
3 years$15,731$15,285$14,856$14,443$14,045$12,953
4 years$11,681$11,236$10,812$10,405$10,017$8,967
5 years$9,251$8,809$8,390$7,992$7,615$6,610
6 years$7,632$7,194$6,781$6,392$6,025$5,066
7 years$6,476$6,041$5,635$5,255$4,900$3,987
8 years$5,609$5,178$4,779$4,408$4,065$3,197
9 years$4,935$4,509$4,116$3,755$3,423$2,601
10 years$4,397$3,974$3,588$3,237$2,917$2,138
11 years$3,956$3,538$3,159$2,817$2,509$1,773
12 years$3,590$3,176$2,804$2,471$2,174$1,480
13 years$3,279$2,870$2,505$2,181$1,896$1,242
14 years$3,014$2,609$2,251$1,936$1,662$1,047
15 years$2,784$2,383$2,032$1,727$1,463$885
16 years$2,583$2,186$1,842$1,546$1,293$751
17 years$2,406$2,013$1,676$1,389$1,147$639
18 years$2,248$1,861$1,530$1,252$1,020$545
19 years$2,108$1,724$1,401$1,131$909$465
20 years$1,981$1,602$1,286$1,025$812$398
21 years$1,867$1,493$1,183$930$726$341
22 years$1,764$1,393$1,090$845$651$292
23 years$1,669$1,303$1,006$770$584$251
24 years$1,583$1,221$931$702$525$215
25 years$1,503$1,146$862$641$473$185
26 years$1,430$1,077$800$586$426$159
27 years$1,362$1,013$742$537$384$137
28 years$1,299$955$690$492$346$118
29 years$1,241$901$642$451$313$101
30 years$1,187$851$598$414$283$87
31 years$1,136$804$558$380$256$75
32 years$1,089$761$520$349$231$65
33 years$1,044$721$486$321$209$56
34 years$1,002$683$454$296$189$48
35 years$963$648$424$272$172$41
36 years$926$615$397$251$155$36
37 years$891$584$372$231$141$31
38 years$858$555$348$213$128$27
39 years$827$528$326$196$116$23
40 years$797$502$306$181$105$20
41 years$769$478$287$167$95$17
42 years$742$455$269$154$86$15
43 years$717$434$252$142$78$13
44 years$693$413$237$131$71$11
45 years$670$394$222$121$65$9
46 years$648$376$209$112$59$8
47 years$627$359$196$104$53$7
48 years$607$343$184$96$48$6
49 years$588$327$173$88$44$5
50 years$569$313$163$82$40$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $583,000, adding $5,148 every year, while hoping to spend $44,947 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: 73/13/14 Blend
53$583,000$583,000$583,000$583,000
54$647,776$616,877$607,841$692,728
55$666,026$599,281$580,380$705,580
56$684,631$579,316$550,493$713,629
57$703,580$556,819$518,051$721,244
58$722,859$531,617$482,919$728,370
59$742,450$503,526$444,957$734,948
60$762,335$472,354$404,018$740,916
61$782,489$437,895$359,949$746,204
62$802,884$399,933$312,588$750,737
63$823,488$358,239$261,769$754,433
64$844,263$312,572$207,318$757,204
65$865,165$262,675$149,050$758,954
66$886,145$208,279$86,776$759,579
67$907,146$149,099$20,298$758,966
68$928,103$84,834$0$756,991
69$948,944$15,165$0$761,087
70$969,585$0$0$767,271
71$989,933$0$0$781,001
72$1,009,881$0$0$796,566
73$1,029,312$0$0$811,698
74$1,048,093$0$0$826,291
75$1,066,073$0$0$840,225
76$1,083,087$0$0$853,364
77$1,098,946$0$0$865,557
78$1,113,443$0$0$876,636
79$1,126,344$0$0$886,413
80$1,137,389$0$0$894,679
81$1,146,291$0$0$901,200
82$1,152,726$0$0$905,718
83$1,156,338$0$0$907,942
84$1,156,728$0$0$907,554
85$1,153,454$0$0$904,197
86$1,146,027$0$0$897,475
87$1,133,903$0$0$886,951
88$1,116,478$0$0$872,138
89$1,093,083$0$0$852,498
90$1,062,977$0$0$827,434
91$1,025,341$0$0$796,285
92$979,265$0$0$758,319
93$923,743$0$0$712,726
94$857,663$0$0$658,610
95$779,793$0$0$594,979
96$688,771$0$0$520,738
97$583,093$0$0$434,673
98$461,094$0$0$335,446
99$320,934$0$0$221,576
100$160,582$0$0$91,426