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%16.7%
1 years$49,382$48,942$48,513$48,094$47,685$46,382
2 years$24,447$23,991$23,550$23,122$22,707$21,404
3 years$16,136$15,679$15,238$14,815$14,406$13,144
4 years$11,981$11,525$11,090$10,673$10,275$9,062
5 years$9,489$9,036$8,606$8,198$7,811$6,652
6 years$7,828$7,379$6,955$6,556$6,180$5,076
7 years$6,643$6,197$5,780$5,390$5,026$3,977
8 years$5,754$5,312$4,902$4,522$4,170$3,174
9 years$5,062$4,625$4,222$3,851$3,512$2,569
10 years$4,510$4,076$3,681$3,320$2,992$2,102
11 years$4,058$3,629$3,240$2,889$2,573$1,734
12 years$3,682$3,257$2,876$2,534$2,230$1,440
13 years$3,364$2,944$2,569$2,237$1,945$1,202
14 years$3,091$2,676$2,308$1,986$1,705$1,007
15 years$2,856$2,444$2,084$1,771$1,501$847
16 years$2,649$2,243$1,890$1,586$1,326$715
17 years$2,468$2,065$1,720$1,425$1,176$605
18 years$2,306$1,908$1,570$1,284$1,046$512
19 years$2,162$1,769$1,437$1,160$932$435
20 years$2,032$1,644$1,319$1,051$833$370
21 years$1,915$1,531$1,213$954$745$315
22 years$1,809$1,429$1,118$867$668$268
23 years$1,712$1,337$1,032$790$599$229
24 years$1,623$1,252$955$720$539$195
25 years$1,542$1,175$884$658$485$167
26 years$1,467$1,105$820$602$437$142
27 years$1,397$1,039$762$551$394$122
28 years$1,333$979$708$504$355$104
29 years$1,273$924$659$463$321$89
30 years$1,217$873$614$425$290$76
31 years$1,165$825$572$390$262$65
32 years$1,117$781$534$358$237$56
33 years$1,071$739$498$330$215$48
34 years$1,028$701$466$303$194$41
35 years$988$665$435$279$176$35
36 years$950$631$407$257$159$30
37 years$914$599$381$237$144$26
38 years$880$569$357$218$131$22
39 years$848$541$334$201$119$19
40 years$818$515$313$186$108$16
41 years$789$490$294$171$98$14
42 years$761$467$276$158$89$12
43 years$735$445$259$146$80$10
44 years$711$424$243$135$73$9
45 years$687$404$228$124$66$7
46 years$664$386$214$115$60$6
47 years$643$368$201$106$55$5
48 years$622$351$189$98$50$5
49 years$603$336$178$91$45$4
50 years$584$321$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 $598,000, adding $3,827 every year, while hoping to spend $45,468 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: 74/16/10 Blend
53$598,000$598,000$598,000$598,000
54$662,944$631,250$621,981$710,506
55$682,186$613,803$594,439$724,958
56$701,868$593,978$564,452$734,713
57$721,985$571,610$531,887$744,135
58$742,532$546,524$496,611$753,175
59$763,503$518,536$458,480$761,783
60$784,888$487,452$417,346$769,904
61$806,675$453,065$373,056$777,475
62$828,848$415,158$325,445$784,434
63$851,390$373,499$274,347$790,707
64$874,278$327,847$219,584$796,219
65$897,486$277,943$160,971$800,885
66$920,983$223,516$98,317$804,616
67$944,733$164,278$31,421$807,314
68$968,695$99,927$0$808,871
69$992,820$30,141$0$813,438
70$1,017,053$0$0$820,479
71$1,041,332$0$0$834,524
72$1,065,585$0$0$853,839
73$1,089,729$0$0$873,052
74$1,113,672$0$0$892,086
75$1,137,311$0$0$910,856
76$1,160,527$0$0$929,265
77$1,183,189$0$0$947,206
78$1,205,147$0$0$964,556
79$1,226,235$0$0$981,179
80$1,246,266$0$0$996,922
81$1,265,031$0$0$1,011,614
82$1,282,298$0$0$1,025,065
83$1,297,804$0$0$1,037,061
84$1,311,261$0$0$1,047,364
85$1,322,345$0$0$1,055,711
86$1,330,695$0$0$1,061,808
87$1,335,911$0$0$1,065,326
88$1,337,547$0$0$1,065,902
89$1,335,111$0$0$1,063,132
90$1,328,051$0$0$1,056,568
91$1,315,759$0$0$1,045,712
92$1,297,559$0$0$1,030,011
93$1,272,702$0$0$1,008,855
94$1,240,357$0$0$981,565
95$1,199,605$0$0$947,390
96$1,149,428$0$0$905,499
97$1,088,697$0$0$854,971
98$1,016,166$0$0$794,789
99$930,454$0$0$723,826
100$830,034$0$0$640,835