Can I retire at age 54 with 673,000?

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 $673,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$55,576$55,081$54,598$54,126$53,666$53,172
2 years$27,513$27,000$26,504$26,022$25,555$25,057
3 years$18,160$17,645$17,150$16,673$16,213$15,727
4 years$13,484$12,971$12,481$12,012$11,563$11,093
5 years$10,679$10,169$9,685$9,226$8,790$8,337
6 years$8,810$8,304$7,827$7,378$6,956$6,519
7 years$7,476$6,974$6,504$6,066$5,657$5,238
8 years$6,475$5,978$5,516$5,089$4,693$4,292
9 years$5,697$5,205$4,751$4,334$3,952$3,568
10 years$5,076$4,588$4,142$3,736$3,367$3,001
11 years$4,567$4,084$3,647$3,252$2,896$2,546
12 years$4,144$3,666$3,236$2,852$2,510$2,177
13 years$3,786$3,313$2,891$2,518$2,188$1,872
14 years$3,479$3,011$2,598$2,235$1,918$1,617
15 years$3,214$2,751$2,346$1,993$1,689$1,403
16 years$2,982$2,524$2,127$1,785$1,493$1,222
17 years$2,777$2,324$1,935$1,604$1,324$1,067
18 years$2,596$2,148$1,767$1,445$1,177$935
19 years$2,433$1,991$1,617$1,306$1,049$820
20 years$2,287$1,850$1,484$1,183$937$721
21 years$2,155$1,723$1,365$1,073$838$635
22 years$2,036$1,608$1,258$976$752$560
23 years$1,927$1,504$1,162$889$675$494
24 years$1,827$1,409$1,074$811$606$437
25 years$1,735$1,323$995$740$546$387
26 years$1,651$1,243$923$677$492$342
27 years$1,572$1,170$857$620$443$303
28 years$1,500$1,102$797$568$400$269
29 years$1,433$1,040$741$521$361$239
30 years$1,370$982$691$478$326$212
31 years$1,311$928$644$439$295$188
32 years$1,257$878$601$403$267$167
33 years$1,205$832$561$371$241$149
34 years$1,157$788$524$341$219$132
35 years$1,112$748$490$314$198$118
36 years$1,069$710$458$289$179$105
37 years$1,029$674$429$267$163$93
38 years$990$641$402$246$147$83
39 years$954$609$376$227$134$74
40 years$920$580$353$209$121$66
41 years$888$552$331$193$110$58
42 years$857$525$310$178$100$52
43 years$828$501$291$164$91$46
44 years$800$477$273$152$82$41
45 years$773$455$257$140$75$37
46 years$748$434$241$129$68$33
47 years$723$414$226$120$62$29
48 years$700$396$213$110$56$26
49 years$678$378$200$102$51$23
50 years$657$361$188$94$46$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $673,000, adding $6,921 every year, while hoping to spend $32,845 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: 61/20/19 Blend
53$673,000$673,000$673,000$673,000
54$748,785$713,116$702,685$790,383
55$790,214$713,112$691,278$819,291
56$834,768$712,007$678,388$846,564
57$882,732$709,712$663,931$875,575
58$934,416$706,133$647,818$906,495
59$990,164$701,171$629,957$939,516
60$1,050,352$694,720$610,252$974,851
61$1,115,393$686,667$588,601$1,012,733
62$1,185,743$676,893$564,899$1,053,422
63$1,261,901$665,273$539,035$1,097,208
64$1,344,416$651,673$510,894$1,144,407
65$1,433,892$635,951$480,355$1,195,374
66$1,530,994$617,957$447,292$1,250,498
67$1,636,452$597,533$411,572$1,310,211
68$1,751,069$574,512$373,059$1,374,992
69$1,875,730$548,715$331,608$1,445,369
70$2,011,407$519,954$287,070$1,521,927
71$2,159,170$488,031$239,286$1,605,313
72$2,320,197$452,736$188,094$1,696,243
73$2,495,783$413,847$133,321$1,795,507
74$2,687,356$371,128$74,790$1,903,981
75$2,896,484$324,331$12,313$2,022,631
76$3,124,897$273,194$0$2,152,525
77$3,374,496$217,441$0$2,305,866
78$3,647,376$156,777$0$2,476,317
79$3,945,844$90,894$0$2,662,866
80$4,272,438$19,466$0$2,867,150
81$4,629,955$0$0$3,090,976
82$5,021,472$0$0$3,349,070
83$5,450,382$0$0$3,636,558
84$5,920,416$0$0$3,951,664
85$6,435,688$0$0$4,297,154
86$7,000,727$0$0$4,676,069
87$7,620,520$0$0$5,091,763
88$8,300,562$0$0$5,547,927
89$9,046,906$0$0$6,048,630
90$9,866,216$0$0$6,598,351
91$10,765,837$0$0$7,202,026
92$11,753,857$0$0$7,865,091
93$12,839,187$0$0$8,593,534
94$14,031,643$0$0$9,393,955
95$15,342,040$0$0$10,273,620
96$16,782,291$0$0$11,240,538
97$18,365,522$0$0$12,303,531
98$20,106,193$0$0$13,472,317
99$22,020,235$0$0$14,757,605
100$24,125,200$0$0$16,171,193