Can I retire at age 54 with 597,000?

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 $597,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$49,300$48,861$48,432$48,014$47,606$46,008
2 years$24,406$23,951$23,511$23,084$22,669$21,076
3 years$16,109$15,652$15,213$14,790$14,382$12,842
4 years$11,961$11,506$11,071$10,655$10,258$8,783
5 years$9,473$9,021$8,592$8,184$7,798$6,393
6 years$7,815$7,366$6,943$6,545$6,170$4,836
7 years$6,631$6,186$5,770$5,381$5,018$3,754
8 years$5,744$5,303$4,893$4,514$4,163$2,969
9 years$5,054$4,617$4,215$3,845$3,506$2,380
10 years$4,502$4,070$3,674$3,314$2,987$1,927
11 years$4,051$3,623$3,235$2,885$2,569$1,573
12 years$3,676$3,252$2,871$2,530$2,226$1,293
13 years$3,358$2,939$2,565$2,234$1,941$1,067
14 years$3,086$2,671$2,305$1,983$1,702$885
15 years$2,851$2,440$2,081$1,768$1,498$736
16 years$2,645$2,239$1,887$1,583$1,324$614
17 years$2,463$2,062$1,717$1,423$1,174$513
18 years$2,302$1,905$1,567$1,282$1,044$430
19 years$2,158$1,766$1,435$1,158$931$360
20 years$2,029$1,641$1,317$1,049$831$303
21 years$1,912$1,528$1,211$952$744$254
22 years$1,806$1,427$1,116$866$667$214
23 years$1,709$1,334$1,031$788$598$180
24 years$1,621$1,250$953$719$538$152
25 years$1,539$1,173$883$657$484$128
26 years$1,464$1,103$819$601$436$108
27 years$1,395$1,038$760$550$393$91
28 years$1,331$978$707$504$355$77
29 years$1,271$922$658$462$320$65
30 years$1,215$871$613$424$289$55
31 years$1,163$824$571$389$262$46
32 years$1,115$779$533$358$237$39
33 years$1,069$738$498$329$214$33
34 years$1,026$699$465$303$194$28
35 years$986$663$435$279$176$24
36 years$948$630$407$257$159$20
37 years$912$598$381$236$144$17
38 years$879$568$356$218$131$14
39 years$847$540$334$201$119$12
40 years$816$514$313$185$108$10
41 years$787$489$293$171$98$9
42 years$760$466$275$158$89$7
43 years$734$444$258$146$80$6
44 years$709$423$242$135$73$5
45 years$686$404$228$124$66$4
46 years$663$385$214$115$60$4
47 years$642$368$201$106$55$3
48 years$621$351$189$98$50$3
49 years$602$335$177$91$45$2
50 years$583$320$167$84$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $597,000, adding $4,105 every year, while hoping to spend $41,652 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: 75/11/14 Blend
53$597,000$597,000$597,000$597,000
54$662,128$630,487$621,234$709,521
55$685,348$617,064$597,728$727,965
56$709,540$601,587$572,038$742,578
57$734,760$583,911$544,048$757,457
58$761,067$563,884$513,635$772,617
59$788,525$541,343$480,671$788,073
60$817,203$516,118$445,022$803,844
61$847,176$488,026$406,549$819,950
62$878,525$456,877$365,106$836,415
63$911,337$422,466$320,539$853,265
64$945,707$384,581$272,691$870,532
65$981,738$342,993$221,394$888,250
66$1,019,539$297,464$166,475$906,458
67$1,059,233$247,741$107,753$925,201
68$1,100,950$193,556$45,038$944,529
69$1,144,834$134,626$0$964,499
70$1,191,038$70,654$0$988,445
71$1,239,732$1,324$0$1,020,561
72$1,291,100$0$0$1,054,227
73$1,345,342$0$0$1,098,488
74$1,402,678$0$0$1,145,452
75$1,463,345$0$0$1,195,157
76$1,527,604$0$0$1,247,817
77$1,595,740$0$0$1,303,667
78$1,668,065$0$0$1,362,964
79$1,744,917$0$0$1,425,988
80$1,826,670$0$0$1,493,047
81$1,913,730$0$0$1,564,476
82$2,006,544$0$0$1,640,644
83$2,105,599$0$0$1,721,954
84$2,211,432$0$0$1,808,847
85$2,324,627$0$0$1,901,808
86$2,445,830$0$0$2,001,368
87$2,575,743$0$0$2,108,108
88$2,715,142$0$0$2,222,667
89$2,864,874$0$0$2,345,747
90$3,025,872$0$0$2,478,117
91$3,199,158$0$0$2,620,621
92$3,385,856$0$0$2,774,187
93$3,587,199$0$0$2,939,834
94$3,804,543$0$0$3,118,681
95$4,039,377$0$0$3,311,959
96$4,293,336$0$0$3,521,020
97$4,568,221$0$0$3,747,348
98$4,866,009$0$0$3,992,578
99$5,188,873$0$0$4,258,507
100$5,539,205$0$0$4,547,108