Can I retire at age 54 with 586,000?

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 $586,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$48,391$47,960$47,540$47,129$46,728$46,473
2 years$23,956$23,510$23,078$22,658$22,252$21,994
3 years$15,812$15,364$14,933$14,517$14,117$13,865
4 years$11,741$11,294$10,867$10,459$10,069$9,824
5 years$9,299$8,855$8,433$8,033$7,654$7,418
6 years$7,671$7,231$6,815$6,424$6,056$5,829
7 years$6,509$6,072$5,664$5,282$4,925$4,707
8 years$5,638$5,205$4,803$4,431$4,086$3,876
9 years$4,961$4,532$4,137$3,774$3,441$3,240
10 years$4,419$3,995$3,607$3,253$2,932$2,739
11 years$3,977$3,556$3,175$2,831$2,522$2,337
12 years$3,608$3,192$2,818$2,483$2,185$2,009
13 years$3,296$2,885$2,518$2,193$1,906$1,738
14 years$3,029$2,622$2,262$1,946$1,670$1,511
15 years$2,798$2,395$2,042$1,736$1,471$1,319
16 years$2,596$2,198$1,852$1,554$1,300$1,155
17 years$2,418$2,024$1,685$1,396$1,153$1,015
18 years$2,260$1,870$1,538$1,258$1,025$895
19 years$2,119$1,733$1,408$1,137$913$790
20 years$1,992$1,611$1,292$1,030$816$699
21 years$1,877$1,500$1,189$935$730$620
22 years$1,773$1,400$1,096$850$654$550
23 years$1,678$1,310$1,012$774$587$489
24 years$1,591$1,227$936$706$528$436
25 years$1,511$1,152$866$645$475$388
26 years$1,437$1,082$804$589$428$346
27 years$1,369$1,019$746$540$386$309
28 years$1,306$960$694$494$348$276
29 years$1,247$905$646$453$314$247
30 years$1,193$855$601$416$284$220
31 years$1,142$808$561$382$257$197
32 years$1,094$765$523$351$232$177
33 years$1,049$724$488$323$210$158
34 years$1,007$687$456$297$190$142
35 years$968$651$427$274$172$127
36 years$931$618$399$252$156$114
37 years$896$587$374$232$142$102
38 years$862$558$350$214$128$91
39 years$831$530$328$197$116$82
40 years$801$505$307$182$106$74
41 years$773$480$288$168$96$66
42 years$746$458$270$155$87$59
43 years$721$436$254$143$79$53
44 years$696$416$238$132$72$48
45 years$673$396$223$122$65$43
46 years$651$378$210$113$59$38
47 years$630$361$197$104$54$35
48 years$610$344$185$96$49$31
49 years$591$329$174$89$44$28
50 years$572$314$164$82$40$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $586,000, adding $2,453 every year, while hoping to spend $32,350 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: 71/24/5 Blend
53$586,000$586,000$586,000$586,000
54$648,302$617,244$608,161$693,852
55$680,009$613,069$594,115$720,055
56$713,865$607,605$578,513$744,456
57$750,057$600,755$561,270$770,254
58$788,786$592,416$542,297$797,575
59$830,276$582,478$521,497$826,563
60$874,771$570,825$498,774$857,374
61$922,537$557,336$474,023$890,181
62$973,870$541,879$447,136$925,177
63$1,029,092$524,318$418,002$962,572
64$1,088,557$504,507$386,503$1,002,603
65$1,152,654$482,292$352,515$1,045,527
66$1,221,810$457,510$315,910$1,091,633
67$1,296,495$429,989$276,553$1,141,236
68$1,377,225$399,546$234,305$1,194,689
69$1,464,567$365,988$189,019$1,252,377
70$1,559,144$329,113$140,543$1,314,731
71$1,661,641$288,704$88,716$1,382,224
72$1,772,813$244,534$33,371$1,455,379
73$1,893,486$196,363$0$1,534,776
74$2,024,574$143,937$0$1,622,425
75$2,167,078$86,987$0$1,719,653
76$2,322,101$25,231$0$1,825,467
77$2,490,857$0$0$1,940,743
78$2,674,681$0$0$2,077,441
79$2,875,043$0$0$2,233,726
80$3,093,559$0$0$2,404,201
81$3,332,009$0$0$2,590,257
82$3,592,353$0$0$2,793,427
83$3,876,747$0$0$3,015,397
84$4,187,566$0$0$3,258,026
85$4,527,422$0$0$3,523,356
86$4,899,195$0$0$3,813,641
87$5,306,053$0$0$4,131,358
88$5,751,486$0$0$4,479,237
89$6,239,335$0$0$4,860,283
90$6,773,833$0$0$5,277,808
91$7,359,639$0$0$5,735,456
92$8,001,886$0$0$6,237,242
93$8,706,226$0$0$6,787,589
94$9,478,886$0$0$7,391,367
95$10,326,723$0$0$8,053,940
96$11,257,290$0$0$8,781,219
97$12,278,908$0$0$9,579,712
98$13,400,743$0$0$10,456,590
99$14,632,890$0$0$11,419,752
100$15,986,473$0$0$12,477,899