Can I retire at age 54 with 598,000?

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 $598,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$49,382$48,942$48,513$48,094$47,685$46,048
2 years$24,447$23,991$23,550$23,122$22,707$21,075
3 years$16,136$15,679$15,238$14,815$14,406$12,830
4 years$11,981$11,525$11,090$10,673$10,275$8,766
5 years$9,489$9,036$8,606$8,198$7,811$6,373
6 years$7,828$7,379$6,955$6,556$6,180$4,816
7 years$6,643$6,197$5,780$5,390$5,026$3,734
8 years$5,754$5,312$4,902$4,522$4,170$2,950
9 years$5,062$4,625$4,222$3,851$3,512$2,361
10 years$4,510$4,076$3,681$3,320$2,992$1,910
11 years$4,058$3,629$3,240$2,889$2,573$1,557
12 years$3,682$3,257$2,876$2,534$2,230$1,278
13 years$3,364$2,944$2,569$2,237$1,945$1,054
14 years$3,091$2,676$2,308$1,986$1,705$872
15 years$2,856$2,444$2,084$1,771$1,501$725
16 years$2,649$2,243$1,890$1,586$1,326$603
17 years$2,468$2,065$1,720$1,425$1,176$504
18 years$2,306$1,908$1,570$1,284$1,046$421
19 years$2,162$1,769$1,437$1,160$932$353
20 years$2,032$1,644$1,319$1,051$833$296
21 years$1,915$1,531$1,213$954$745$248
22 years$1,809$1,429$1,118$867$668$208
23 years$1,712$1,337$1,032$790$599$175
24 years$1,623$1,252$955$720$539$147
25 years$1,542$1,175$884$658$485$124
26 years$1,467$1,105$820$602$437$104
27 years$1,397$1,039$762$551$394$88
28 years$1,333$979$708$504$355$74
29 years$1,273$924$659$463$321$62
30 years$1,217$873$614$425$290$53
31 years$1,165$825$572$390$262$44
32 years$1,117$781$534$358$237$37
33 years$1,071$739$498$330$215$32
34 years$1,028$701$466$303$194$27
35 years$988$665$435$279$176$22
36 years$950$631$407$257$159$19
37 years$914$599$381$237$144$16
38 years$880$569$357$218$131$13
39 years$848$541$334$201$119$11
40 years$818$515$313$186$108$10
41 years$789$490$294$171$98$8
42 years$761$467$276$158$89$7
43 years$735$445$259$146$80$6
44 years$711$424$243$135$73$5
45 years$687$404$228$124$66$4
46 years$664$386$214$115$60$3
47 years$643$368$201$106$55$3
48 years$622$351$189$98$50$2
49 years$603$336$178$91$45$2
50 years$584$321$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 $598,000, adding $6,210 every year, while hoping to spend $33,339 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: 37/33/30 Blend
53$598,000$598,000$598,000$598,000
54$665,402$633,708$624,439$683,879
55$697,800$629,287$609,885$693,725
56$732,386$623,532$593,726$700,896
57$769,347$616,343$575,874$708,017
58$808,889$607,612$556,234$715,104
59$851,238$597,228$534,710$722,182
60$896,642$585,069$511,201$729,277
61$945,372$571,010$485,598$736,425
62$997,726$554,916$457,793$743,666
63$1,054,033$536,646$427,667$751,048
64$1,114,651$516,048$395,100$758,628
65$1,179,974$492,963$359,965$766,473
66$1,250,437$467,224$322,130$774,660
67$1,326,515$438,652$281,455$783,278
68$1,408,733$407,058$237,796$792,432
69$1,497,664$372,245$191,003$802,240
70$1,593,941$334,000$140,917$812,838
71$1,698,259$292,102$87,374$824,382
72$1,811,383$246,316$30,202$837,048
73$1,934,151$196,393$0$851,038
74$2,067,490$142,072$0$876,443
75$2,212,414$83,074$0$914,616
76$2,370,044$19,108$0$956,233
77$2,541,608$0$0$1,001,689
78$2,728,461$0$0$1,069,629
79$2,932,093$0$0$1,151,307
80$3,154,144$0$0$1,240,453
81$3,396,417$0$0$1,337,800
82$3,660,899$0$0$1,444,158
83$3,949,777$0$0$1,560,416
84$4,265,458$0$0$1,687,555
85$4,610,592$0$0$1,826,653
86$4,988,096$0$0$1,978,898
87$5,401,183$0$0$2,145,600
88$5,853,390$0$0$2,328,197
89$6,348,613$0$0$2,528,278
90$6,891,141$0$0$2,747,589
91$7,485,699$0$0$2,988,054
92$8,137,489$0$0$3,251,794
93$8,852,241$0$0$3,541,142
94$9,636,267$0$0$3,858,670
95$10,496,519$0$0$4,207,211
96$11,440,652$0$0$4,589,884
97$12,477,102$0$0$5,010,126
98$13,615,160$0$0$5,471,723
99$14,865,059$0$0$5,978,845
100$16,238,074$0$0$6,536,088