Can I retire at age 54 with 688,000?

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 $688,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$56,814$56,308$55,815$55,333$54,862$52,979
2 years$28,126$27,602$27,094$26,602$26,125$24,247
3 years$18,564$18,038$17,532$17,044$16,575$14,761
4 years$13,785$13,260$12,759$12,279$11,821$10,085
5 years$10,917$10,396$9,901$9,432$8,986$7,333
6 years$9,007$8,489$8,002$7,543$7,111$5,541
7 years$7,642$7,129$6,649$6,201$5,783$4,297
8 years$6,619$6,111$5,639$5,202$4,797$3,394
9 years$5,824$5,321$4,857$4,431$4,040$2,717
10 years$5,189$4,690$4,235$3,820$3,442$2,198
11 years$4,669$4,175$3,728$3,324$2,961$1,792
12 years$4,236$3,747$3,309$2,916$2,566$1,470
13 years$3,870$3,387$2,956$2,574$2,237$1,212
14 years$3,557$3,078$2,656$2,285$1,961$1,004
15 years$3,285$2,812$2,398$2,038$1,727$834
16 years$3,048$2,580$2,174$1,825$1,526$694
17 years$2,839$2,376$1,978$1,639$1,353$579
18 years$2,653$2,196$1,806$1,477$1,203$485
19 years$2,487$2,035$1,653$1,335$1,072$406
20 years$2,338$1,891$1,517$1,209$958$340
21 years$2,204$1,761$1,396$1,097$857$286
22 years$2,081$1,644$1,286$998$768$240
23 years$1,970$1,538$1,188$909$690$202
24 years$1,868$1,441$1,098$829$620$170
25 years$1,774$1,352$1,017$757$558$143
26 years$1,687$1,271$944$692$502$120
27 years$1,607$1,196$876$633$453$101
28 years$1,533$1,127$814$580$409$85
29 years$1,465$1,063$758$532$369$72
30 years$1,400$1,004$706$488$334$61
31 years$1,341$949$658$449$302$51
32 years$1,285$898$614$412$273$43
33 years$1,232$850$573$379$247$36
34 years$1,183$806$536$349$223$31
35 years$1,136$765$501$321$202$26
36 years$1,093$726$469$296$183$22
37 years$1,051$689$439$272$166$18
38 years$1,012$655$411$251$151$16
39 years$976$623$385$232$137$13
40 years$941$593$361$214$124$11
41 years$907$564$338$197$112$9
42 years$876$537$317$182$102$8
43 years$846$512$298$168$93$7
44 years$817$488$279$155$84$6
45 years$790$465$262$143$76$5
46 years$764$444$246$132$69$4
47 years$740$424$232$122$63$3
48 years$716$404$218$113$57$3
49 years$693$386$204$104$52$2
50 years$672$369$192$96$47$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $688,000, adding $2,435 every year, while hoping to spend $26,980 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: 70/20/10 Blend
53$688,000$688,000$688,000$688,000
54$760,688$724,224$713,560$812,271
55$809,571$731,004$708,757$853,545
56$862,537$737,213$702,890$895,175
57$919,972$742,793$695,893$940,007
58$982,304$747,684$687,700$988,351
59$1,050,001$751,822$678,240$1,040,547
60$1,123,579$755,140$667,439$1,096,971
61$1,203,606$757,564$655,221$1,158,039
62$1,290,707$759,018$641,504$1,224,208
63$1,385,569$759,419$626,204$1,295,983
64$1,488,948$758,681$609,232$1,373,918
65$1,601,676$756,712$590,497$1,458,628
66$1,724,669$753,413$569,901$1,550,789
67$1,858,935$748,681$547,343$1,651,145
68$2,005,585$742,405$522,717$1,760,520
69$2,165,840$734,468$495,914$1,879,820
70$2,341,045$724,746$466,816$2,010,044
71$2,532,681$713,107$435,304$2,152,295
72$2,742,378$699,414$401,250$2,307,789
73$2,971,933$683,517$364,524$2,477,866
74$3,223,322$665,261$324,987$2,664,005
75$3,498,722$644,481$282,496$2,867,836
76$3,800,532$621,000$236,900$3,091,155
77$4,131,392$594,635$188,042$3,335,947
78$4,494,211$565,189$135,758$3,604,395
79$4,892,192$532,455$79,878$3,898,911
80$5,328,864$496,213$20,222$4,222,151
81$5,808,113$456,232$0$4,577,047
82$6,334,219$412,267$0$4,971,464
83$6,911,900$364,058$0$5,406,933
84$7,546,349$311,332$0$5,885,244
85$8,243,289$253,800$0$6,410,752
86$9,009,024$191,156$0$6,988,254
87$9,850,499$123,077$0$7,623,040
88$10,775,365$49,223$0$8,320,941
89$11,792,050$0$0$9,088,384
90$12,909,843$0$0$9,939,222
91$14,138,972$0$0$10,886,761
92$15,490,711$0$0$11,928,861
93$16,977,479$0$0$13,075,102
94$18,612,958$0$0$14,336,039
95$20,412,226$0$0$15,723,301
96$22,391,892$0$0$17,249,701
97$24,570,259$0$0$18,929,356
98$26,967,493$0$0$20,777,822
99$29,605,813$0$0$22,812,238
100$32,509,703$0$0$25,051,489