Can I retire at age 54 with 656,000?

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 $656,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$54,172$53,689$53,219$52,759$52,310$51,959
2 years$26,818$26,318$25,834$25,365$24,910$24,555
3 years$17,701$17,199$16,716$16,252$15,804$15,457
4 years$13,143$12,643$12,165$11,708$11,271$10,936
5 years$10,410$9,913$9,441$8,993$8,568$8,244
6 years$8,588$8,094$7,630$7,192$6,780$6,468
7 years$7,287$6,798$6,340$5,913$5,514$5,214
8 years$6,312$5,827$5,377$4,960$4,574$4,286
9 years$5,553$5,073$4,631$4,225$3,852$3,577
10 years$4,947$4,472$4,038$3,642$3,282$3,019
11 years$4,452$3,981$3,555$3,170$2,823$2,571
12 years$4,039$3,573$3,155$2,780$2,446$2,206
13 years$3,690$3,229$2,818$2,454$2,133$1,904
14 years$3,391$2,935$2,532$2,179$1,870$1,652
15 years$3,133$2,681$2,286$1,943$1,646$1,439
16 years$2,906$2,460$2,073$1,740$1,455$1,258
17 years$2,707$2,266$1,886$1,563$1,290$1,104
18 years$2,530$2,094$1,722$1,409$1,147$971
19 years$2,372$1,940$1,576$1,273$1,023$855
20 years$2,230$1,803$1,447$1,153$913$755
21 years$2,101$1,679$1,331$1,046$817$668
22 years$1,984$1,568$1,226$951$733$592
23 years$1,878$1,466$1,132$866$658$525
24 years$1,781$1,374$1,047$790$591$466
25 years$1,691$1,289$970$722$532$414
26 years$1,609$1,212$900$660$479$369
27 years$1,533$1,140$835$604$432$328
28 years$1,462$1,074$777$553$390$292
29 years$1,396$1,014$723$507$352$261
30 years$1,335$957$673$466$318$233
31 years$1,278$905$628$428$288$208
32 years$1,225$856$586$393$260$185
33 years$1,175$811$547$361$235$166
34 years$1,128$769$511$333$213$148
35 years$1,084$729$478$306$193$132
36 years$1,042$692$447$282$175$118
37 years$1,003$657$418$260$158$106
38 years$965$625$392$239$144$95
39 years$930$594$367$221$130$85
40 years$897$565$344$204$118$76
41 years$865$538$322$188$107$68
42 years$835$512$302$173$97$61
43 years$807$488$284$160$88$54
44 years$779$465$266$148$80$49
45 years$754$444$250$137$73$43
46 years$729$423$235$126$66$39
47 years$705$404$221$116$60$35
48 years$683$386$207$108$54$31
49 years$661$368$195$99$49$28
50 years$640$352$183$92$45$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $656,000, adding $3,566 every year, while hoping to spend $49,610 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: 57/37/6 Blend
53$656,000$656,000$656,000$656,000
54$726,590$691,822$681,654$766,899
55$747,918$672,937$651,705$775,528
56$769,758$651,464$619,090$779,020
57$792,111$627,223$583,667$781,590
58$814,975$600,025$545,288$783,154
59$838,346$569,670$503,799$783,623
60$862,218$535,945$459,037$782,900
61$886,584$498,626$410,835$780,884
62$911,433$457,475$359,015$777,464
63$936,750$412,243$303,393$772,523
64$962,518$362,663$243,776$765,935
65$988,717$308,455$179,965$757,567
66$1,015,321$249,324$111,748$747,275
67$1,042,299$184,957$38,908$734,905
68$1,069,617$115,023$0$720,292
69$1,097,234$39,174$0$705,747
70$1,125,100$0$0$691,415
71$1,153,161$0$0$692,106
72$1,181,353$0$0$708,799
73$1,209,603$0$0$725,497
74$1,237,830$0$0$742,147
75$1,265,938$0$0$758,688
76$1,293,821$0$0$775,053
77$1,321,360$0$0$791,165
78$1,348,418$0$0$806,938
79$1,374,842$0$0$822,274
80$1,400,462$0$0$837,066
81$1,425,084$0$0$851,190
82$1,448,494$0$0$864,509
83$1,470,451$0$0$876,873
84$1,490,684$0$0$888,109
85$1,508,895$0$0$898,027
86$1,524,746$0$0$906,417
87$1,537,866$0$0$913,041
88$1,547,838$0$0$917,637
89$1,554,201$0$0$919,913
90$1,556,440$0$0$919,544
91$1,553,983$0$0$916,170
92$1,546,198$0$0$909,392
93$1,532,381$0$0$898,765
94$1,511,752$0$0$883,798
95$1,483,444$0$0$863,944
96$1,446,501$0$0$838,601
97$1,399,859$0$0$807,098
98$1,342,343$0$0$768,695
99$1,272,651$0$0$722,572
100$1,189,342$0$0$667,822