Can I retire at age 54 with 596,000?

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 $596,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$49,217$48,779$48,351$47,934$47,526$46,171
2 years$24,365$23,911$23,471$23,045$22,631$21,277
3 years$16,082$15,626$15,188$14,765$14,358$13,047
4 years$11,941$11,487$11,053$10,637$10,240$8,982
5 years$9,457$9,006$8,577$8,171$7,785$6,582
6 years$7,802$7,354$6,932$6,534$6,160$5,015
7 years$6,620$6,176$5,760$5,372$5,009$3,922
8 years$5,734$5,294$4,885$4,506$4,156$3,125
9 years$5,046$4,609$4,208$3,839$3,500$2,525
10 years$4,495$4,063$3,668$3,309$2,982$2,062
11 years$4,045$3,617$3,230$2,880$2,565$1,697
12 years$3,670$3,246$2,866$2,526$2,222$1,407
13 years$3,353$2,934$2,561$2,230$1,938$1,172
14 years$3,081$2,667$2,301$1,980$1,699$980
15 years$2,846$2,436$2,077$1,765$1,496$823
16 years$2,641$2,235$1,883$1,581$1,322$693
17 years$2,459$2,058$1,714$1,420$1,172$585
18 years$2,299$1,902$1,564$1,280$1,042$494
19 years$2,155$1,763$1,432$1,157$929$419
20 years$2,026$1,638$1,314$1,047$830$355
21 years$1,909$1,526$1,209$951$743$301
22 years$1,803$1,424$1,114$864$666$256
23 years$1,706$1,332$1,029$787$597$218
24 years$1,618$1,248$951$718$537$186
25 years$1,537$1,171$881$656$483$158
26 years$1,462$1,101$817$600$435$135
27 years$1,393$1,036$759$549$392$115
28 years$1,328$976$706$503$354$98
29 years$1,269$921$657$461$320$84
30 years$1,213$870$612$423$289$71
31 years$1,161$822$570$389$261$61
32 years$1,113$778$532$357$236$52
33 years$1,067$737$497$328$214$44
34 years$1,025$698$464$302$194$38
35 years$984$662$434$278$175$32
36 years$947$629$406$256$159$28
37 years$911$597$380$236$144$24
38 years$877$567$356$218$131$20
39 years$845$540$333$201$118$17
40 years$815$513$312$185$107$15
41 years$786$489$293$171$97$13
42 years$759$465$275$158$88$11
43 years$733$443$258$145$80$9
44 years$708$423$242$134$73$8
45 years$685$403$227$124$66$7
46 years$662$384$213$115$60$6
47 years$641$367$201$106$55$5
48 years$620$350$188$98$49$4
49 years$601$334$177$90$45$4
50 years$582$320$167$84$41$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $596,000, adding $4,567 every year, while hoping to spend $35,827 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: 61/30/9 Blend
53$596,000$596,000$596,000$596,000
54$661,503$629,915$620,677$700,265
55$690,857$622,661$603,350$719,527
56$722,003$613,851$584,242$736,010
57$755,089$603,371$563,255$753,100
58$790,271$591,099$540,287$770,854
59$827,724$576,909$515,232$789,340
60$867,638$560,663$487,979$808,632
61$910,222$542,220$458,410$828,815
62$955,702$521,426$426,404$849,983
63$1,004,329$498,122$391,835$872,241
64$1,056,377$472,137$354,568$895,708
65$1,112,147$443,291$314,465$920,516
66$1,171,968$411,394$271,382$946,815
67$1,236,202$376,245$225,166$974,769
68$1,305,246$337,632$175,660$1,004,564
69$1,379,535$295,330$122,699$1,036,408
70$1,459,547$249,101$66,109$1,070,530
71$1,545,809$198,695$5,712$1,107,190
72$1,638,898$143,847$0$1,146,673
73$1,739,447$84,277$0$1,194,942
74$1,848,153$19,690$0$1,247,663
75$1,965,783$0$0$1,304,705
76$2,093,179$0$0$1,383,111
77$2,231,266$0$0$1,475,181
78$2,381,061$0$0$1,575,098
79$2,543,686$0$0$1,683,614
80$2,720,371$0$0$1,801,557
81$2,912,470$0$0$1,929,835
82$3,121,474$0$0$2,069,450
83$3,349,022$0$0$2,221,503
84$3,596,919$0$0$2,387,207
85$3,867,149$0$0$2,567,893
86$4,161,898$0$0$2,765,032
87$4,483,571$0$0$2,980,237
88$4,834,816$0$0$3,215,289
89$5,218,545$0$0$3,472,144
90$5,637,969$0$0$3,752,959
91$6,096,618$0$0$4,060,107
92$6,598,382$0$0$4,396,201
93$7,147,543$0$0$4,764,118
94$7,748,816$0$0$5,167,027
95$8,407,395$0$0$5,608,417
96$9,128,997$0$0$6,092,132
97$9,919,919$0$0$6,622,402
98$10,787,098$0$0$7,203,889
99$11,738,173$0$0$7,841,727
100$12,781,558$0$0$8,541,571