Can I retire at age 54 with 587,000?

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 $587,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$48,474$48,042$47,621$47,210$46,808$45,256
2 years$23,997$23,550$23,117$22,697$22,290$20,740
3 years$15,839$15,390$14,958$14,542$14,141$12,644
4 years$11,761$11,313$10,886$10,477$10,086$8,652
5 years$9,315$8,870$8,448$8,047$7,667$6,301
6 years$7,684$7,243$6,827$6,435$6,067$4,769
7 years$6,520$6,083$5,673$5,291$4,934$3,704
8 years$5,648$5,214$4,811$4,438$4,093$2,931
9 years$4,969$4,540$4,144$3,781$3,447$2,351
10 years$4,427$4,001$3,613$3,259$2,937$1,905
11 years$3,983$3,562$3,181$2,836$2,526$1,556
12 years$3,614$3,197$2,823$2,488$2,189$1,280
13 years$3,302$2,889$2,522$2,196$1,909$1,057
14 years$3,035$2,626$2,266$1,950$1,673$877
15 years$2,803$2,399$2,046$1,739$1,473$730
16 years$2,601$2,201$1,855$1,557$1,302$609
17 years$2,422$2,027$1,688$1,399$1,154$510
18 years$2,264$1,873$1,541$1,261$1,027$427
19 years$2,122$1,736$1,411$1,139$915$359
20 years$1,995$1,613$1,295$1,032$817$301
21 years$1,880$1,503$1,191$936$731$253
22 years$1,776$1,403$1,097$851$656$213
23 years$1,680$1,312$1,013$775$588$180
24 years$1,593$1,229$937$707$529$152
25 years$1,513$1,154$868$646$476$128
26 years$1,440$1,084$805$590$429$108
27 years$1,371$1,020$748$540$387$91
28 years$1,308$961$695$495$349$77
29 years$1,250$907$647$454$315$65
30 years$1,195$857$602$417$285$55
31 years$1,144$810$562$383$257$46
32 years$1,096$766$524$352$233$39
33 years$1,051$726$489$323$211$33
34 years$1,009$688$457$298$191$28
35 years$970$652$427$274$173$24
36 years$932$619$400$252$156$20
37 years$897$588$374$232$142$17
38 years$864$559$350$214$129$14
39 years$832$531$328$198$117$12
40 years$803$506$308$182$106$10
41 years$774$481$289$168$96$9
42 years$747$458$271$155$87$7
43 years$722$437$254$143$79$6
44 years$697$416$238$132$72$5
45 years$674$397$224$122$65$4
46 years$652$379$210$113$59$4
47 years$631$361$198$104$54$3
48 years$611$345$186$96$49$3
49 years$592$329$174$89$44$2
50 years$573$315$164$82$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $587,000, adding $4,223 every year, while hoping to spend $42,773 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: 49/44/7 Blend
53$587,000$587,000$587,000$587,000
54$651,230$620,119$611,021$681,756
55$672,145$604,995$585,980$687,942
56$693,760$587,696$558,666$689,759
57$716,102$568,070$528,959$690,724
58$739,196$545,958$496,731$690,770
59$763,073$521,189$461,851$689,823
60$787,763$493,583$424,179$687,808
61$813,296$462,951$383,571$684,643
62$839,708$429,091$339,876$680,242
63$867,032$391,790$292,935$674,516
64$895,306$350,824$242,586$667,369
65$924,569$305,956$188,654$658,699
66$954,862$256,935$130,960$648,401
67$986,228$203,495$69,318$636,362
68$1,018,713$145,357$3,531$622,464
69$1,052,367$82,224$0$606,581
70$1,087,241$13,785$0$593,562
71$1,123,388$0$0$578,895
72$1,160,868$0$0$591,376
73$1,199,743$0$0$611,250
74$1,240,077$0$0$631,877
75$1,281,941$0$0$653,294
76$1,325,409$0$0$675,540
77$1,370,562$0$0$698,656
78$1,417,484$0$0$722,688
79$1,466,266$0$0$747,684
80$1,517,007$0$0$773,695
81$1,569,810$0$0$800,775
82$1,624,788$0$0$828,986
83$1,682,062$0$0$858,389
84$1,741,762$0$0$889,054
85$1,804,027$0$0$921,055
86$1,869,009$0$0$954,471
87$1,936,869$0$0$989,390
88$2,007,783$0$0$1,025,903
89$2,081,941$0$0$1,064,112
90$2,159,548$0$0$1,104,125
91$2,240,827$0$0$1,146,061
92$2,326,018$0$0$1,190,048
93$2,415,381$0$0$1,236,225
94$2,509,202$0$0$1,284,743
95$2,607,786$0$0$1,335,766
96$2,711,470$0$0$1,389,473
97$2,820,616$0$0$1,446,058
98$2,935,622$0$0$1,505,733
99$3,056,919$0$0$1,568,728
100$3,184,976$0$0$1,635,295