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%18.9%
1 years$48,887$48,451$48,026$47,612$47,207$45,514
2 years$24,201$23,751$23,314$22,890$22,479$20,792
3 years$15,974$15,521$15,086$14,666$14,262$12,633
4 years$11,861$11,410$10,978$10,566$10,172$8,614
5 years$9,394$8,945$8,520$8,116$7,732$6,250
6 years$7,750$7,305$6,885$6,490$6,118$4,712
7 years$6,576$6,134$5,722$5,336$4,976$3,646
8 years$5,696$5,258$4,852$4,476$4,128$2,873
9 years$5,012$4,578$4,179$3,813$3,476$2,294
10 years$4,465$4,036$3,644$3,287$2,962$1,851
11 years$4,017$3,593$3,208$2,860$2,547$1,505
12 years$3,645$3,225$2,847$2,509$2,208$1,232
13 years$3,330$2,914$2,543$2,215$1,925$1,013
14 years$3,060$2,649$2,285$1,966$1,687$836
15 years$2,827$2,420$2,063$1,754$1,486$693
16 years$2,623$2,220$1,871$1,570$1,313$575
17 years$2,443$2,045$1,702$1,411$1,164$479
18 years$2,283$1,889$1,554$1,271$1,035$399
19 years$2,140$1,751$1,423$1,149$923$333
20 years$2,012$1,627$1,306$1,040$824$278
21 years$1,896$1,516$1,201$944$738$233
22 years$1,791$1,415$1,107$859$661$195
23 years$1,695$1,323$1,022$782$593$164
24 years$1,607$1,240$945$713$533$137
25 years$1,526$1,163$875$651$480$115
26 years$1,452$1,093$812$595$432$97
27 years$1,383$1,029$754$545$390$81
28 years$1,319$970$701$499$352$68
29 years$1,260$915$652$458$318$57
30 years$1,205$864$607$420$287$48
31 years$1,154$817$566$386$259$40
32 years$1,105$773$528$355$235$34
33 years$1,060$732$493$326$212$29
34 years$1,018$694$461$300$192$24
35 years$978$658$431$276$174$20
36 years$940$624$403$254$158$17
37 years$905$593$377$234$143$14
38 years$871$564$353$216$130$12
39 years$839$536$331$199$118$10
40 years$809$510$310$184$107$8
41 years$781$485$291$170$97$7
42 years$754$462$273$156$88$6
43 years$728$440$256$144$80$5
44 years$703$420$240$133$72$4
45 years$680$400$226$123$66$4
46 years$658$382$212$114$60$3
47 years$636$364$199$105$54$3
48 years$616$348$187$97$49$2
49 years$597$332$176$90$45$2
50 years$578$317$165$83$41$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $592,000, adding $6,065 every year, while hoping to spend $30,846 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: 88/5/7 Blend
53$592,000$592,000$592,000$592,000
54$658,640$627,264$618,088$715,747
55$693,001$625,180$605,974$751,778
56$729,834$621,960$592,420$786,445
57$769,357$617,516$577,346$823,550
58$811,811$611,754$560,667$863,316
59$857,461$604,575$542,295$905,987
60$906,597$595,875$522,137$951,833
61$959,537$585,540$500,096$1,001,150
62$1,016,633$573,454$476,072$1,054,264
63$1,078,267$559,491$449,958$1,111,535
64$1,144,863$543,519$421,644$1,173,356
65$1,216,886$525,398$391,016$1,240,164
66$1,294,844$504,979$357,951$1,312,435
67$1,379,301$482,105$322,325$1,390,698
68$1,470,872$456,610$284,005$1,475,533
69$1,570,236$428,320$242,855$1,567,577
70$1,678,139$397,046$198,729$1,667,536
71$1,795,402$362,595$151,480$1,776,184
72$1,922,928$324,757$100,949$1,894,374
73$2,061,711$283,313$46,975$2,023,046
74$2,212,842$238,032$0$2,163,236
75$2,377,525$188,669$0$2,316,879
76$2,557,083$134,964$0$2,488,234
77$2,752,973$76,645$0$2,675,185
78$2,966,799$13,423$0$2,879,274
79$3,200,325$0$0$3,102,196
80$3,455,494$0$0$3,348,845
81$3,734,446$0$0$3,619,293
82$4,039,535$0$0$3,915,087
83$4,373,356$0$0$4,238,740
84$4,738,762$0$0$4,593,022
85$5,138,898$0$0$4,980,981
86$5,577,227$0$0$5,405,976
87$6,057,561$0$0$5,871,703
88$6,584,101$0$0$6,382,236
89$7,161,470$0$0$6,942,059
90$7,794,764$0$0$7,556,112
91$8,489,592$0$0$8,229,836
92$9,252,136$0$0$8,969,225
93$10,089,202$0$0$9,780,879
94$11,008,289$0$0$10,672,072
95$12,017,658$0$0$11,650,813
96$13,126,408$0$0$12,725,926
97$14,344,563$0$0$13,907,133
98$15,683,167$0$0$15,205,142
99$17,154,386$0$0$16,631,752
100$18,771,622$0$0$18,199,961