Can I retire at age 54 with 671,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%18%
1 years$55,411$54,917$54,435$53,965$53,506$51,773
2 years$27,431$26,920$26,425$25,945$25,479$23,749
3 years$18,106$17,593$17,099$16,623$16,165$14,492
4 years$13,444$12,932$12,443$11,976$11,529$9,927
5 years$10,648$10,139$9,657$9,199$8,764$7,237
6 years$8,784$8,279$7,804$7,356$6,935$5,483
7 years$7,453$6,953$6,485$6,048$5,640$4,264
8 years$6,456$5,960$5,500$5,074$4,679$3,378
9 years$5,680$5,189$4,737$4,322$3,940$2,713
10 years$5,060$4,574$4,130$3,725$3,357$2,201
11 years$4,554$4,072$3,636$3,242$2,887$1,800
12 years$4,131$3,655$3,227$2,844$2,502$1,482
13 years$3,774$3,303$2,883$2,511$2,182$1,226
14 years$3,469$3,002$2,590$2,229$1,913$1,019
15 years$3,204$2,743$2,339$1,988$1,684$849
16 years$2,973$2,516$2,120$1,780$1,488$710
17 years$2,769$2,317$1,929$1,599$1,320$595
18 years$2,588$2,141$1,761$1,441$1,173$499
19 years$2,426$1,985$1,612$1,302$1,046$420
20 years$2,281$1,844$1,480$1,179$934$353
21 years$2,149$1,718$1,361$1,070$836$298
22 years$2,030$1,604$1,254$973$749$251
23 years$1,921$1,500$1,158$886$673$212
24 years$1,821$1,405$1,071$808$605$179
25 years$1,730$1,319$992$738$544$151
26 years$1,646$1,239$920$675$490$128
27 years$1,568$1,166$854$618$442$108
28 years$1,496$1,099$794$566$399$91
29 years$1,428$1,037$739$519$360$77
30 years$1,366$979$689$476$325$65
31 years$1,307$926$642$438$294$55
32 years$1,253$876$599$402$266$47
33 years$1,202$829$559$370$241$40
34 years$1,154$786$522$340$218$34
35 years$1,108$746$488$313$197$28
36 years$1,066$708$457$288$179$24
37 years$1,025$672$428$266$162$20
38 years$987$639$401$245$147$17
39 years$951$607$375$226$133$15
40 years$917$578$352$208$121$12
41 years$885$550$330$192$110$11
42 years$854$524$309$177$100$9
43 years$825$499$290$164$90$8
44 years$797$476$273$151$82$6
45 years$771$454$256$140$74$5
46 years$745$433$240$129$68$5
47 years$721$413$226$119$61$4
48 years$698$394$212$110$56$3
49 years$676$377$199$102$51$3
50 years$655$360$187$94$46$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $671,000, adding $6,428 every year, while hoping to spend $35,296 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: 62/18/20 Blend
53$671,000$671,000$671,000$671,000
54$746,072$710,509$700,109$788,095
55$784,617$707,770$686,008$814,479
56$825,911$703,713$670,252$838,762
57$870,196$698,237$652,747$864,463
58$917,739$691,234$633,398$891,724
59$968,833$682,590$612,102$920,702
60$1,023,800$672,182$588,753$951,572
61$1,082,992$659,884$563,241$984,528
62$1,146,797$645,558$535,449$1,019,784
63$1,215,640$629,060$505,256$1,057,580
64$1,289,989$610,237$472,536$1,098,181
65$1,370,358$588,929$437,156$1,141,878
66$1,457,311$564,963$398,977$1,188,999
67$1,551,470$538,159$357,856$1,239,902
68$1,653,516$508,325$313,640$1,294,986
69$1,764,201$475,259$266,173$1,354,695
70$1,884,349$438,747$215,290$1,419,517
71$2,014,869$398,561$160,818$1,489,995
72$2,156,759$354,464$102,578$1,566,728
73$2,311,117$306,202$40,384$1,650,381
74$2,479,152$253,507$0$1,741,689
75$2,662,195$196,098$0$1,847,011
76$2,861,708$133,676$0$1,971,258
77$3,079,302$65,926$0$2,106,845
78$3,316,751$0$0$2,254,919
79$3,576,005$0$0$2,418,229
80$3,859,213$0$0$2,610,939
81$4,168,740$0$0$2,821,606
82$4,507,189$0$0$3,052,009
83$4,877,426$0$0$3,304,104
84$5,282,609$0$0$3,580,048
85$5,726,212$0$0$3,882,214
86$6,212,063$0$0$4,213,217
87$6,744,377$0$0$4,575,936
88$7,327,796$0$0$4,973,540
89$7,967,432$0$0$5,409,521
90$8,668,914$0$0$5,887,727
91$9,438,445$0$0$6,412,392
92$10,282,856$0$0$6,988,182
93$11,209,669$0$0$7,620,237
94$12,227,173$0$0$8,314,219
95$13,344,497$0$0$9,076,364
96$14,571,698$0$0$9,913,541
97$15,919,855$0$0$10,833,319
98$17,401,172$0$0$11,844,036
99$19,029,094$0$0$12,954,875
100$20,818,433$0$0$14,175,957