Can I retire at age 54 with 595,000?

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 $595,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$49,135$48,697$48,270$47,853$47,446$47,167
2 years$24,324$23,871$23,432$23,006$22,593$22,312
3 years$16,055$15,600$15,162$14,740$14,334$14,059
4 years$11,921$11,468$11,034$10,620$10,223$9,956
5 years$9,442$8,991$8,563$8,157$7,772$7,514
6 years$7,789$7,342$6,920$6,523$6,149$5,901
7 years$6,609$6,165$5,751$5,363$5,001$4,762
8 years$5,725$5,285$4,877$4,499$4,149$3,920
9 years$5,037$4,602$4,201$3,832$3,494$3,274
10 years$4,487$4,056$3,662$3,303$2,977$2,767
11 years$4,038$3,611$3,224$2,875$2,560$2,359
12 years$3,663$3,241$2,861$2,522$2,219$2,027
13 years$3,347$2,929$2,556$2,226$1,935$1,752
14 years$3,076$2,662$2,297$1,976$1,696$1,522
15 years$2,841$2,432$2,074$1,762$1,493$1,328
16 years$2,636$2,231$1,880$1,578$1,320$1,162
17 years$2,455$2,055$1,711$1,418$1,170$1,021
18 years$2,295$1,899$1,562$1,278$1,041$899
19 years$2,151$1,760$1,430$1,155$927$793
20 years$2,022$1,635$1,312$1,046$828$702
21 years$1,906$1,523$1,207$949$741$622
22 years$1,800$1,422$1,112$863$664$551
23 years$1,703$1,330$1,027$786$596$490
24 years$1,615$1,246$950$717$536$436
25 years$1,534$1,169$880$655$482$388
26 years$1,459$1,099$816$599$435$346
27 years$1,390$1,034$758$548$392$308
28 years$1,326$975$704$502$354$275
29 years$1,267$919$655$460$319$246
30 years$1,211$868$611$422$288$219
31 years$1,159$821$569$388$261$196
32 years$1,111$777$531$357$236$175
33 years$1,066$735$496$328$213$157
34 years$1,023$697$463$302$193$140
35 years$983$661$433$278$175$126
36 years$945$628$405$256$159$113
37 years$909$596$379$236$144$101
38 years$876$566$355$217$130$90
39 years$844$539$333$200$118$81
40 years$813$512$312$185$107$73
41 years$785$488$292$170$97$65
42 years$758$465$274$157$88$58
43 years$732$443$257$145$80$52
44 years$707$422$242$134$73$47
45 years$683$402$227$124$66$42
46 years$661$384$213$114$60$38
47 years$640$366$200$106$54$34
48 years$619$350$188$98$49$30
49 years$600$334$177$90$45$27
50 years$581$319$166$83$41$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $595,000, adding $2,469 every year, while hoping to spend $33,857 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: 66/23/11 Blend
53$595,000$595,000$595,000$595,000
54$658,237$626,702$617,479$699,942
55$689,353$621,387$602,141$722,721
56$722,509$614,676$585,155$743,379
57$757,876$606,467$566,429$765,089
58$795,643$596,647$545,868$787,950
59$836,017$585,101$523,373$812,075
60$879,225$571,705$498,840$837,585
61$925,515$556,327$472,159$864,618
62$975,159$538,829$443,219$893,326
63$1,028,457$519,064$411,898$923,877
64$1,085,738$496,876$378,075$956,460
65$1,147,361$472,100$341,618$991,280
66$1,213,722$444,564$302,392$1,028,570
67$1,285,255$414,081$260,257$1,068,585
68$1,362,439$380,459$215,063$1,111,608
69$1,445,798$343,491$166,657$1,157,954
70$1,535,907$302,960$114,878$1,207,970
71$1,633,400$258,636$59,558$1,262,045
72$1,738,974$210,277$520$1,320,605
73$1,853,394$157,625$0$1,384,125
74$1,977,502$100,410$0$1,460,463
75$2,112,223$38,346$0$1,543,410
76$2,258,576$0$0$1,633,572
77$2,417,680$0$0$1,738,993
78$2,590,768$0$0$1,864,271
79$2,779,195$0$0$2,000,686
80$2,984,453$0$0$2,149,323
81$3,208,183$0$0$2,311,375
82$3,452,192$0$0$2,488,155
83$3,718,469$0$0$2,681,108
84$4,009,201$0$0$2,891,826
85$4,326,799$0$0$3,122,061
86$4,673,915$0$0$3,373,741
87$5,053,469$0$0$3,648,988
88$5,468,675$0$0$3,950,142
89$5,923,075$0$0$4,279,775
90$6,420,567$0$0$4,640,722
91$6,965,443$0$0$5,036,105
92$7,562,431$0$0$5,469,361
93$8,216,736$0$0$5,944,276
94$8,934,093$0$0$6,465,018
95$9,720,817$0$0$7,036,181
96$10,583,863$0$0$7,662,822
97$11,530,893$0$0$8,350,513
98$12,570,346$0$0$9,105,389
99$13,711,517$0$0$9,934,211
100$14,964,645$0$0$10,844,425