Can I retire at age 54 with 674,000?

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 $674,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$55,658$55,163$54,679$54,207$53,746$52,235
2 years$27,554$27,040$26,543$26,061$25,593$24,082
3 years$18,187$17,671$17,175$16,697$16,237$14,774
4 years$13,504$12,990$12,499$12,030$11,581$10,176
5 years$10,695$10,184$9,700$9,240$8,803$7,462
6 years$8,823$8,316$7,839$7,389$6,966$5,688
7 years$7,487$6,984$6,514$6,075$5,665$4,451
8 years$6,485$5,987$5,525$5,096$4,700$3,549
9 years$5,706$5,212$4,758$4,341$3,958$2,869
10 years$5,083$4,595$4,148$3,742$3,372$2,344
11 years$4,574$4,090$3,652$3,257$2,900$1,931
12 years$4,150$3,671$3,241$2,856$2,513$1,601
13 years$3,791$3,318$2,896$2,522$2,192$1,335
14 years$3,484$3,016$2,602$2,239$1,921$1,117
15 years$3,218$2,755$2,349$1,996$1,692$939
16 years$2,986$2,528$2,130$1,788$1,495$791
17 years$2,781$2,328$1,938$1,606$1,326$668
18 years$2,599$2,151$1,769$1,447$1,179$565
19 years$2,437$1,993$1,620$1,308$1,051$479
20 years$2,291$1,852$1,486$1,185$938$407
21 years$2,159$1,725$1,367$1,075$840$345
22 years$2,039$1,611$1,260$977$753$294
23 years$1,930$1,506$1,163$890$676$250
24 years$1,830$1,411$1,076$812$607$213
25 years$1,738$1,325$997$741$546$182
26 years$1,653$1,245$924$678$492$155
27 years$1,575$1,172$858$621$444$132
28 years$1,502$1,104$798$569$400$113
29 years$1,435$1,041$743$521$362$96
30 years$1,372$984$692$479$327$82
31 years$1,313$930$645$439$295$70
32 years$1,258$880$602$404$267$60
33 years$1,207$833$562$371$242$51
34 years$1,159$790$525$342$219$44
35 years$1,113$749$491$315$198$38
36 years$1,070$711$459$290$180$32
37 years$1,030$675$430$267$163$27
38 years$992$642$402$246$148$23
39 years$956$610$377$227$134$20
40 years$921$581$353$209$121$17
41 years$889$553$331$193$110$15
42 years$858$526$311$178$100$13
43 years$829$501$292$164$91$11
44 years$801$478$274$152$82$9
45 years$774$456$257$140$75$8
46 years$749$435$241$130$68$7
47 years$725$415$227$120$62$6
48 years$701$396$213$111$56$5
49 years$679$378$200$102$51$4
50 years$658$361$188$94$46$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $674,000, adding $6,521 every year, while hoping to spend $50,821 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: 22/48/30 Blend
53$674,000$674,000$674,000$674,000
54$749,474$713,752$703,305$758,774
55$771,848$694,653$672,793$748,527
56$794,800$672,915$639,555$732,935
57$818,336$648,354$603,447$715,178
58$842,460$620,778$564,317$695,110
59$867,176$589,981$522,006$672,582
60$892,485$555,746$476,350$647,432
61$918,386$517,846$427,175$619,493
62$944,877$476,036$374,301$588,585
63$971,954$430,061$317,540$554,520
64$999,610$379,651$256,694$517,099
65$1,027,835$324,519$191,559$476,113
66$1,056,617$264,363$121,918$431,339
67$1,085,938$198,863$47,549$382,543
68$1,115,779$127,682$0$329,478
69$1,146,115$50,465$0$282,068
70$1,176,915$0$0$246,758
71$1,208,145$0$0$225,619
72$1,239,762$0$0$231,165
73$1,271,719$0$0$236,727
74$1,303,958$0$0$242,288
75$1,336,416$0$0$247,831
76$1,369,017$0$0$253,335
77$1,401,676$0$0$258,778
78$1,434,296$0$0$264,134
79$1,466,768$0$0$269,373
80$1,498,966$0$0$274,463
81$1,530,750$0$0$279,367
82$1,561,962$0$0$284,043
83$1,592,421$0$0$288,447
84$1,621,928$0$0$292,526
85$1,650,258$0$0$296,222
86$1,677,159$0$0$299,472
87$1,702,349$0$0$302,204
88$1,725,513$0$0$304,339
89$1,746,299$0$0$305,788
90$1,764,317$0$0$306,452
91$1,779,129$0$0$306,222
92$1,790,250$0$0$304,977
93$1,797,138$0$0$302,582
94$1,799,195$0$0$298,888
95$1,795,752$0$0$293,728
96$1,786,068$0$0$286,919
97$1,769,322$0$0$278,257
98$1,744,602$0$0$267,517
99$1,710,897$0$0$254,449
100$1,667,087$0$0$238,777