Can I retire at age 54 with 592,000?

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 $592,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$48,887$48,451$48,026$47,612$47,207$46,178
2 years$24,201$23,751$23,314$22,890$22,479$21,448
3 years$15,974$15,521$15,086$14,666$14,262$13,260
4 years$11,861$11,410$10,978$10,566$10,172$9,208
5 years$9,394$8,945$8,520$8,116$7,732$6,808
6 years$7,750$7,305$6,885$6,490$6,118$5,235
7 years$6,576$6,134$5,722$5,336$4,976$4,134
8 years$5,696$5,258$4,852$4,476$4,128$3,327
9 years$5,012$4,578$4,179$3,813$3,476$2,716
10 years$4,465$4,036$3,644$3,287$2,962$2,241
11 years$4,017$3,593$3,208$2,860$2,547$1,865
12 years$3,645$3,225$2,847$2,509$2,208$1,563
13 years$3,330$2,914$2,543$2,215$1,925$1,317
14 years$3,060$2,649$2,285$1,966$1,687$1,115
15 years$2,827$2,420$2,063$1,754$1,486$947
16 years$2,623$2,220$1,871$1,570$1,313$807
17 years$2,443$2,045$1,702$1,411$1,164$689
18 years$2,283$1,889$1,554$1,271$1,035$590
19 years$2,140$1,751$1,423$1,149$923$506
20 years$2,012$1,627$1,306$1,040$824$435
21 years$1,896$1,516$1,201$944$738$374
22 years$1,791$1,415$1,107$859$661$322
23 years$1,695$1,323$1,022$782$593$278
24 years$1,607$1,240$945$713$533$240
25 years$1,526$1,163$875$651$480$207
26 years$1,452$1,093$812$595$432$179
27 years$1,383$1,029$754$545$390$155
28 years$1,319$970$701$499$352$134
29 years$1,260$915$652$458$318$116
30 years$1,205$864$607$420$287$100
31 years$1,154$817$566$386$259$87
32 years$1,105$773$528$355$235$75
33 years$1,060$732$493$326$212$65
34 years$1,018$694$461$300$192$56
35 years$978$658$431$276$174$49
36 years$940$624$403$254$158$42
37 years$905$593$377$234$143$37
38 years$871$564$353$216$130$32
39 years$839$536$331$199$118$28
40 years$809$510$310$184$107$24
41 years$781$485$291$170$97$21
42 years$754$462$273$156$88$18
43 years$728$440$256$144$80$16
44 years$703$420$240$133$72$13
45 years$680$400$226$123$66$12
46 years$658$382$212$114$60$10
47 years$636$364$199$105$54$9
48 years$616$348$187$97$49$8
49 years$597$332$176$90$45$7
50 years$578$317$165$83$41$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $592,000, adding $6,500 every year, while hoping to spend $49,670 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: 57/21/22 Blend
53$592,000$592,000$592,000$592,000
54$659,089$627,713$618,537$692,407
55$673,467$605,622$586,409$693,782
56$687,648$580,784$551,541$689,416
57$701,557$553,012$513,787$683,581
58$715,115$522,108$472,997$676,149
59$728,228$487,863$429,014$666,980
60$740,794$450,055$381,673$655,923
61$752,697$408,450$330,801$642,816
62$763,810$362,802$276,221$627,483
63$773,988$312,849$217,743$609,732
64$783,070$258,314$155,173$589,359
65$790,878$198,906$88,306$566,140
66$797,212$134,317$16,930$539,834
67$801,851$64,222$0$510,179
68$804,548$0$0$490,799
69$805,029$0$0$475,333
70$802,988$0$0$473,096
71$798,089$0$0$469,033
72$789,956$0$0$462,907
73$778,172$0$0$454,457
74$762,278$0$0$443,391
75$741,761$0$0$429,387
76$716,056$0$0$412,090
77$684,536$0$0$391,104
78$646,507$0$0$365,992
79$601,203$0$0$336,271
80$547,772$0$0$301,406
81$485,278$0$0$260,806
82$412,680$0$0$213,818
83$328,831$0$0$159,719
84$232,462$0$0$97,711
85$122,172$0$0$26,911
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0