Can I retire at age 54 with 671,000?

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 $671,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$55,411$54,917$54,435$53,965$53,506$51,898
2 years$27,431$26,920$26,425$25,945$25,479$23,872
3 years$18,106$17,593$17,099$16,623$16,165$14,610
4 years$13,444$12,932$12,443$11,976$11,529$10,038
5 years$10,648$10,139$9,657$9,199$8,764$7,341
6 years$8,784$8,279$7,804$7,356$6,935$5,580
7 years$7,453$6,953$6,485$6,048$5,640$4,354
8 years$6,456$5,960$5,500$5,074$4,679$3,462
9 years$5,680$5,189$4,737$4,322$3,940$2,790
10 years$5,060$4,574$4,130$3,725$3,357$2,272
11 years$4,554$4,072$3,636$3,242$2,887$1,866
12 years$4,131$3,655$3,227$2,844$2,502$1,542
13 years$3,774$3,303$2,883$2,511$2,182$1,281
14 years$3,469$3,002$2,590$2,229$1,913$1,069
15 years$3,204$2,743$2,339$1,988$1,684$895
16 years$2,973$2,516$2,120$1,780$1,488$751
17 years$2,769$2,317$1,929$1,599$1,320$632
18 years$2,588$2,141$1,761$1,441$1,173$533
19 years$2,426$1,985$1,612$1,302$1,046$450
20 years$2,281$1,844$1,480$1,179$934$380
21 years$2,149$1,718$1,361$1,070$836$322
22 years$2,030$1,604$1,254$973$749$273
23 years$1,921$1,500$1,158$886$673$231
24 years$1,821$1,405$1,071$808$605$196
25 years$1,730$1,319$992$738$544$167
26 years$1,646$1,239$920$675$490$142
27 years$1,568$1,166$854$618$442$120
28 years$1,496$1,099$794$566$399$102
29 years$1,428$1,037$739$519$360$87
30 years$1,366$979$689$476$325$74
31 years$1,307$926$642$438$294$63
32 years$1,253$876$599$402$266$54
33 years$1,202$829$559$370$241$46
34 years$1,154$786$522$340$218$39
35 years$1,108$746$488$313$197$33
36 years$1,066$708$457$288$179$28
37 years$1,025$672$428$266$162$24
38 years$987$639$401$245$147$20
39 years$951$607$375$226$133$17
40 years$917$578$352$208$121$15
41 years$885$550$330$192$110$13
42 years$854$524$309$177$100$11
43 years$825$499$290$164$90$9
44 years$797$476$273$151$82$8
45 years$771$454$256$140$74$7
46 years$745$433$240$129$68$6
47 years$721$413$226$119$61$5
48 years$698$394$212$110$56$4
49 years$676$377$199$102$51$3
50 years$655$360$187$94$46$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $671,000, adding $6,583 every year, while hoping to spend $40,643 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: 76/5/19 Blend
53$671,000$671,000$671,000$671,000
54$746,232$710,669$700,269$799,181
55$779,104$702,248$680,484$826,705
56$813,967$692,052$658,674$851,203
57$850,980$679,952$634,729$876,987
58$890,320$665,809$608,532$904,174
59$932,177$649,478$579,962$932,893
60$976,762$630,805$548,893$963,286
61$1,024,303$609,626$515,193$995,512
62$1,075,053$585,769$478,723$1,029,745
63$1,129,287$559,050$439,339$1,066,178
64$1,187,307$529,277$396,889$1,105,024
65$1,249,444$496,243$351,217$1,146,520
66$1,316,062$459,733$302,157$1,190,926
67$1,387,559$419,519$249,538$1,238,529
68$1,464,372$375,357$193,180$1,289,649
69$1,546,981$326,993$132,895$1,344,638
70$1,635,914$274,157$68,487$1,403,884
71$1,731,749$216,562$0$1,467,817
72$1,835,121$153,908$0$1,536,962
73$1,946,730$85,876$0$1,626,614
74$2,067,342$12,129$0$1,723,500
75$2,197,802$0$0$1,828,305
76$2,339,035$0$0$1,945,512
77$2,492,061$0$0$2,073,250
78$2,658,001$0$0$2,211,790
79$2,838,086$0$0$2,362,164
80$3,033,674$0$0$2,525,506
81$3,246,253$0$0$2,703,065
82$3,477,464$0$0$2,896,213
83$3,729,112$0$0$3,106,462
84$4,003,182$0$0$3,335,473
85$4,301,858$0$0$3,585,077
86$4,627,546$0$0$3,857,285
87$4,982,891$0$0$4,154,315
88$5,370,806$0$0$4,478,604
89$5,794,497$0$0$4,832,839
90$6,257,496$0$0$5,219,974
91$6,763,686$0$0$5,643,263
92$7,317,348$0$0$6,106,290
93$7,923,192$0$0$6,613,000
94$8,586,406$0$0$7,167,735
95$9,312,701$0$0$7,775,280
96$10,108,369$0$0$8,440,902
97$10,980,337$0$0$9,170,403
98$11,936,234$0$0$9,970,172
99$12,984,464$0$0$10,847,246
100$14,134,281$0$0$11,809,374