Can I retire at age 54 with 584,000?

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 $584,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$48,226$47,797$47,377$46,968$46,569$44,810
2 years$23,874$23,430$22,999$22,581$22,176$20,424
3 years$15,758$15,312$14,882$14,468$14,069$12,380
4 years$11,701$11,256$10,830$10,423$10,034$8,420
5 years$9,267$8,825$8,405$8,006$7,628$6,093
6 years$7,645$7,206$6,792$6,403$6,036$4,581
7 years$6,487$6,052$5,644$5,264$4,909$3,534
8 years$5,619$5,187$4,787$4,416$4,072$2,777
9 years$4,944$4,516$4,123$3,761$3,429$2,211
10 years$4,404$3,981$3,594$3,242$2,922$1,778
11 years$3,963$3,544$3,164$2,822$2,513$1,441
12 years$3,596$3,181$2,808$2,475$2,178$1,175
13 years$3,285$2,875$2,509$2,185$1,899$963
14 years$3,019$2,613$2,254$1,940$1,665$793
15 years$2,789$2,387$2,035$1,730$1,466$654
16 years$2,587$2,190$1,845$1,549$1,295$541
17 years$2,410$2,017$1,679$1,392$1,149$449
18 years$2,252$1,864$1,533$1,254$1,021$373
19 years$2,111$1,727$1,403$1,133$910$310
20 years$1,985$1,605$1,288$1,026$813$258
21 years$1,870$1,495$1,185$931$728$215
22 years$1,767$1,396$1,092$847$652$179
23 years$1,672$1,305$1,008$771$585$150
24 years$1,585$1,223$932$703$526$125
25 years$1,506$1,148$864$642$474$105
26 years$1,432$1,079$801$587$427$87
27 years$1,364$1,015$744$538$385$73
28 years$1,302$957$691$493$347$61
29 years$1,243$902$643$452$313$51
30 years$1,189$852$599$415$283$43
31 years$1,138$806$559$381$256$36
32 years$1,090$762$521$350$232$30
33 years$1,046$722$487$322$210$25
34 years$1,004$684$455$296$190$21
35 years$965$649$425$273$172$18
36 years$928$616$398$251$156$15
37 years$893$585$372$231$141$12
38 years$859$556$349$213$128$10
39 years$828$529$327$197$116$9
40 years$798$503$306$181$105$7
41 years$770$479$287$167$95$6
42 years$744$456$269$154$87$5
43 years$718$434$253$143$79$4
44 years$694$414$237$132$71$4
45 years$671$395$223$122$65$3
46 years$649$377$209$112$59$2
47 years$628$360$197$104$53$2
48 years$608$343$185$96$49$2
49 years$589$328$174$89$44$1
50 years$570$313$163$82$40$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $584,000, adding $4,683 every year, while hoping to spend $34,717 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: 40/48/12 Blend
53$584,000$584,000$584,000$584,000
54$648,399$617,447$608,395$671,834
55$677,597$610,763$591,837$682,140
56$708,609$602,588$573,561$689,507
57$741,585$592,812$553,473$696,711
58$776,686$581,320$531,474$703,753
59$814,091$567,987$507,461$710,637
60$853,993$552,684$481,326$717,369
61$896,607$535,272$452,957$723,961
62$942,166$515,605$422,237$730,426
63$990,926$493,529$389,041$736,786
64$1,043,169$468,880$353,242$743,065
65$1,099,202$441,485$314,705$749,297
66$1,159,364$411,161$273,291$755,520
67$1,224,026$377,714$228,853$761,782
68$1,293,595$340,941$181,238$768,142
69$1,368,518$300,624$130,286$774,668
70$1,449,288$256,535$75,832$781,441
71$1,536,443$208,434$17,700$788,556
72$1,630,577$156,064$0$796,124
73$1,732,342$99,156$0$809,949
74$1,842,452$37,427$0$827,291
75$1,961,697$0$0$846,076
76$2,090,941$0$0$882,068
77$2,231,136$0$0$942,618
78$2,383,329$0$0$1,008,417
79$2,548,671$0$0$1,079,972
80$2,728,429$0$0$1,157,840
81$2,923,995$0$0$1,242,632
82$3,136,903$0$0$1,335,025
83$3,368,839$0$0$1,435,759
84$3,621,660$0$0$1,545,652
85$3,897,409$0$0$1,665,603
86$4,198,334$0$0$1,796,601
87$4,526,910$0$0$1,939,735
88$4,885,861$0$0$2,096,205
89$5,278,187$0$0$2,267,332
90$5,707,191$0$0$2,454,569
91$6,176,508$0$0$2,659,518
92$6,690,141$0$0$2,883,940
93$7,252,500$0$0$3,129,778
94$7,868,438$0$0$3,399,169
95$8,543,301$0$0$3,694,467
96$9,282,977$0$0$4,018,267
97$10,093,950$0$0$4,373,424
98$10,983,363$0$0$4,763,083
99$11,959,079$0$0$5,190,710
100$13,029,765$0$0$5,660,121