Can I retire at age 54 with 585,000?

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 $585,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$48,309$47,878$47,459$47,049$46,649$45,029
2 years$23,915$23,470$23,038$22,620$22,214$20,599
3 years$15,785$15,338$14,907$14,493$14,093$12,534
4 years$11,721$11,275$10,849$10,441$10,051$8,559
5 years$9,283$8,840$8,419$8,020$7,641$6,220
6 years$7,658$7,218$6,804$6,413$6,046$4,697
7 years$6,498$6,062$5,654$5,273$4,917$3,641
8 years$5,628$5,196$4,795$4,423$4,079$2,874
9 years$4,952$4,524$4,130$3,768$3,435$2,299
10 years$4,412$3,988$3,601$3,248$2,927$1,859
11 years$3,970$3,550$3,170$2,827$2,517$1,514
12 years$3,602$3,186$2,813$2,479$2,181$1,242
13 years$3,291$2,880$2,513$2,189$1,902$1,023
14 years$3,024$2,617$2,258$1,943$1,668$847
15 years$2,793$2,391$2,039$1,733$1,468$703
16 years$2,592$2,194$1,849$1,552$1,298$585
17 years$2,414$2,020$1,682$1,394$1,151$488
18 years$2,256$1,867$1,536$1,256$1,023$407
19 years$2,115$1,730$1,406$1,135$912$341
20 years$1,988$1,608$1,290$1,028$814$286
21 years$1,874$1,498$1,187$933$729$240
22 years$1,770$1,398$1,094$848$653$201
23 years$1,675$1,308$1,010$773$586$169
24 years$1,588$1,225$934$705$527$142
25 years$1,508$1,150$865$644$474$119
26 years$1,435$1,080$802$588$427$100
27 years$1,367$1,017$745$539$385$85
28 years$1,304$958$693$493$348$71
29 years$1,245$904$644$453$314$60
30 years$1,191$854$600$415$284$50
31 years$1,140$807$560$381$256$43
32 years$1,092$764$522$351$232$36
33 years$1,048$723$488$322$210$30
34 years$1,006$685$456$297$190$25
35 years$966$650$426$273$172$21
36 years$929$617$398$251$156$18
37 years$894$586$373$232$141$15
38 years$861$557$349$214$128$13
39 years$830$530$327$197$116$11
40 years$800$504$307$182$105$9
41 years$772$480$288$168$96$8
42 years$745$457$270$155$87$6
43 years$719$435$253$143$79$5
44 years$695$415$238$132$71$5
45 years$672$396$223$122$65$4
46 years$650$377$210$112$59$3
47 years$629$360$197$104$53$3
48 years$609$344$185$96$49$2
49 years$590$328$174$89$44$2
50 years$571$314$163$82$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $585,000, adding $2,504 every year, while hoping to spend $29,757 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: 28/44/28 Blend
53$585,000$585,000$585,000$585,000
54$647,253$616,248$607,180$659,704
55$681,611$614,783$595,860$668,391
56$718,477$612,249$583,162$674,982
57$758,075$608,562$569,011$681,464
58$800,650$603,633$553,325$687,850
59$846,473$597,368$536,018$694,154
60$895,841$589,667$517,002$700,397
61$949,080$580,423$496,185$706,604
62$1,006,549$569,526$473,470$712,804
63$1,068,639$556,856$448,754$719,036
64$1,135,785$542,286$421,932$725,345
65$1,208,462$525,685$392,892$731,782
66$1,287,191$506,910$361,521$738,411
67$1,372,548$485,812$327,695$745,306
68$1,465,164$462,233$291,289$752,552
69$1,565,735$436,006$252,171$760,248
70$1,675,024$406,955$210,203$768,508
71$1,793,873$374,892$165,241$777,464
72$1,923,206$339,619$117,135$787,267
73$2,064,041$300,929$65,727$798,090
74$2,217,499$258,600$10,855$810,128
75$2,384,811$212,399$0$823,605
76$2,567,335$162,079$0$853,026
77$2,766,563$107,381$0$888,814
78$2,984,140$48,030$0$928,102
79$3,221,874$0$0$971,313
80$3,481,757$0$0$1,026,796
81$3,765,983$0$0$1,112,999
82$4,076,966$0$0$1,207,412
83$4,417,366$0$0$1,310,852
84$4,790,109$0$0$1,424,223
85$5,198,421$0$0$1,548,516
86$5,645,851$0$0$1,684,827
87$6,136,311$0$0$1,834,360
88$6,674,108$0$0$1,998,442
89$7,263,984$0$0$2,178,535
90$7,911,165$0$0$2,376,250
91$8,621,405$0$0$2,593,359
92$9,401,044$0$0$2,831,819
93$10,257,063$0$0$3,093,780
94$11,197,156$0$0$3,381,614
95$12,229,796$0$0$3,697,934
96$13,364,316$0$0$4,045,617
97$14,611,001$0$0$4,427,835
98$15,981,178$0$0$4,848,080
99$17,487,329$0$0$5,310,201
100$19,143,204$0$0$5,818,438