Can I retire at age 54 with 593,000?

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 $593,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$48,969$48,533$48,108$47,692$47,287$46,832
2 years$24,242$23,791$23,353$22,929$22,517$22,059
3 years$16,001$15,548$15,111$14,691$14,286$13,839
4 years$11,881$11,429$10,997$10,584$10,189$9,756
5 years$9,410$8,961$8,534$8,129$7,745$7,328
6 years$7,763$7,317$6,897$6,501$6,129$5,727
7 years$6,587$6,145$5,731$5,345$4,984$4,599
8 years$5,705$5,267$4,861$4,484$4,135$3,766
9 years$5,020$4,586$4,186$3,819$3,482$3,129
10 years$4,472$4,042$3,650$3,292$2,967$2,630
11 years$4,024$3,599$3,213$2,865$2,552$2,231
12 years$3,651$3,230$2,852$2,513$2,211$1,905
13 years$3,336$2,919$2,548$2,219$1,928$1,637
14 years$3,066$2,653$2,289$1,970$1,690$1,414
15 years$2,832$2,424$2,067$1,756$1,488$1,226
16 years$2,627$2,224$1,874$1,573$1,315$1,067
17 years$2,447$2,048$1,705$1,413$1,166$931
18 years$2,287$1,892$1,557$1,273$1,037$815
19 years$2,144$1,754$1,425$1,151$924$715
20 years$2,015$1,630$1,308$1,042$826$628
21 years$1,899$1,518$1,203$946$739$552
22 years$1,794$1,417$1,109$860$662$487
23 years$1,698$1,325$1,024$783$594$429
24 years$1,610$1,242$947$714$534$379
25 years$1,529$1,165$877$652$481$335
26 years$1,454$1,095$813$596$433$297
27 years$1,385$1,031$755$546$390$263
28 years$1,322$971$702$500$352$233
29 years$1,262$916$653$459$318$206
30 years$1,207$865$609$421$287$183
31 years$1,155$818$567$387$260$162
32 years$1,107$774$529$355$235$144
33 years$1,062$733$494$327$213$128
34 years$1,019$695$462$301$193$114
35 years$979$659$432$277$174$101
36 years$942$625$404$255$158$90
37 years$906$594$378$235$143$80
38 years$873$565$354$216$130$71
39 years$841$537$332$200$118$63
40 years$811$511$311$184$107$56
41 years$782$486$291$170$97$50
42 years$755$463$273$157$88$44
43 years$729$441$257$145$80$40
44 years$705$421$241$134$72$35
45 years$681$401$226$123$66$31
46 years$659$383$212$114$60$28
47 years$637$365$200$105$54$25
48 years$617$348$188$97$49$22
49 years$598$333$176$90$45$20
50 years$579$318$166$83$41$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $593,000, adding $2,529 every year, while hoping to spend $35,278 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: 42/46/12 Blend
53$593,000$593,000$593,000$593,000
54$656,095$624,666$615,474$681,243
55$685,481$617,739$598,557$692,190
56$716,682$609,290$579,891$700,321
57$749,846$599,208$559,380$708,346
58$785,135$587,373$536,923$716,271
59$822,725$573,662$512,417$724,104
60$862,812$557,939$485,751$731,857
61$905,606$540,066$456,812$739,546
62$951,341$519,892$425,478$747,192
63$1,000,272$497,261$391,626$754,823
64$1,052,679$472,006$355,124$762,470
65$1,108,868$443,951$315,837$770,175
66$1,169,176$412,908$273,621$777,985
67$1,233,973$378,681$228,328$785,957
68$1,303,663$341,061$179,802$794,161
69$1,378,693$299,829$127,881$802,675
70$1,459,549$254,751$72,395$811,592
71$1,546,771$205,581$13,168$821,020
72$1,640,947$152,060$0$831,085
73$1,742,726$93,913$0$848,337
74$1,852,820$30,851$0$868,750
75$1,972,013$0$0$890,851
76$2,101,164$0$0$933,830
77$2,241,221$0$0$997,436
78$2,393,224$0$0$1,066,533
79$2,558,319$0$0$1,141,649
80$2,737,765$0$0$1,223,367
81$2,932,946$0$0$1,312,326
82$3,145,388$0$0$1,409,230
83$3,376,768$0$0$1,514,854
84$3,628,930$0$0$1,630,052
85$3,903,907$0$0$1,755,761
86$4,203,933$0$0$1,893,014
87$4,531,470$0$0$2,042,950
88$4,889,225$0$0$2,206,820
89$5,280,181$0$0$2,386,003
90$5,707,621$0$0$2,582,016
91$6,175,159$0$0$2,796,531
92$6,686,774$0$0$3,031,387
93$7,246,850$0$0$3,288,611
94$7,860,210$0$0$3,570,435
95$8,532,171$0$0$3,879,317
96$9,268,583$0$0$4,217,962
97$10,075,892$0$0$4,589,352
98$10,961,197$0$0$4,996,770
99$11,932,317$0$0$5,443,833
100$12,997,862$0$0$5,934,524