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%19.6%
1 years$56,814$56,308$55,815$55,333$54,862$52,748
2 years$28,126$27,602$27,094$26,602$26,125$24,020
3 years$18,564$18,038$17,532$17,044$16,575$14,545
4 years$13,785$13,260$12,759$12,279$11,821$9,883
5 years$10,917$10,396$9,901$9,432$8,986$7,144
6 years$9,007$8,489$8,002$7,543$7,111$5,366
7 years$7,642$7,129$6,649$6,201$5,783$4,135
8 years$6,619$6,111$5,639$5,202$4,797$3,245
9 years$5,824$5,321$4,857$4,431$4,040$2,580
10 years$5,189$4,690$4,235$3,820$3,442$2,073
11 years$4,669$4,175$3,728$3,324$2,961$1,678
12 years$4,236$3,747$3,309$2,916$2,566$1,366
13 years$3,870$3,387$2,956$2,574$2,237$1,118
14 years$3,557$3,078$2,656$2,285$1,961$919
15 years$3,285$2,812$2,398$2,038$1,727$757
16 years$3,048$2,580$2,174$1,825$1,526$626
17 years$2,839$2,376$1,978$1,639$1,353$518
18 years$2,653$2,196$1,806$1,477$1,203$430
19 years$2,487$2,035$1,653$1,335$1,072$357
20 years$2,338$1,891$1,517$1,209$958$297
21 years$2,204$1,761$1,396$1,097$857$247
22 years$2,081$1,644$1,286$998$768$206
23 years$1,970$1,538$1,188$909$690$171
24 years$1,868$1,441$1,098$829$620$143
25 years$1,774$1,352$1,017$757$558$119
26 years$1,687$1,271$944$692$502$99
27 years$1,607$1,196$876$633$453$83
28 years$1,533$1,127$814$580$409$69
29 years$1,465$1,063$758$532$369$58
30 years$1,400$1,004$706$488$334$48
31 years$1,341$949$658$449$302$40
32 years$1,285$898$614$412$273$34
33 years$1,232$850$573$379$247$28
34 years$1,183$806$536$349$223$24
35 years$1,136$765$501$321$202$20
36 years$1,093$726$469$296$183$16
37 years$1,051$689$439$272$166$14
38 years$1,012$655$411$251$151$12
39 years$976$623$385$232$137$10
40 years$941$593$361$214$124$8
41 years$907$564$338$197$112$7
42 years$876$537$317$182$102$6
43 years$846$512$298$168$93$5
44 years$817$488$279$155$84$4
45 years$790$465$262$143$76$3
46 years$764$444$246$132$69$3
47 years$740$424$232$122$63$2
48 years$716$404$218$113$57$2
49 years$693$386$204$104$52$2
50 years$672$369$192$96$47$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $688,000, adding $4,622 every year, while hoping to spend $49,102 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: 83/11/6 Blend
53$688,000$688,000$688,000$688,000
54$762,944$726,480$715,816$825,611
55$788,520$709,833$687,551$850,580
56$815,059$690,725$656,694$870,887
57$842,607$668,983$623,106$891,650
58$871,215$644,425$586,642$912,882
59$900,935$616,857$547,150$934,602
60$931,822$586,076$504,472$956,826
61$963,939$551,864$458,442$979,577
62$997,349$513,994$408,889$1,002,876
63$1,032,122$472,223$355,630$1,026,747
64$1,068,333$426,297$298,478$1,051,219
65$1,106,062$375,944$237,236$1,076,321
66$1,145,396$320,880$171,699$1,102,086
67$1,186,426$260,804$101,651$1,128,552
68$1,229,254$195,395$26,868$1,155,760
69$1,273,987$124,319$0$1,183,756
70$1,320,743$47,220$0$1,215,979
71$1,369,647$0$0$1,251,154
72$1,420,837$0$0$1,292,029
73$1,474,460$0$0$1,340,837
74$1,530,676$0$0$1,392,011
75$1,589,659$0$0$1,445,707
76$1,651,599$0$0$1,502,100
77$1,716,700$0$0$1,561,376
78$1,785,186$0$0$1,623,739
79$1,857,298$0$0$1,689,411
80$1,933,302$0$0$1,758,633
81$2,013,485$0$0$1,831,668
82$2,098,160$0$0$1,908,803
83$2,187,671$0$0$1,990,350
84$2,282,389$0$0$2,076,651
85$2,382,724$0$0$2,168,077
86$2,489,120$0$0$2,265,037
87$2,602,064$0$0$2,367,976
88$2,722,089$0$0$2,477,378
89$2,849,776$0$0$2,593,778
90$2,985,764$0$0$2,717,758
91$3,130,750$0$0$2,849,954
92$3,285,498$0$0$2,991,067
93$3,450,845$0$0$3,141,862
94$3,627,711$0$0$3,303,177
95$3,817,100$0$0$3,475,933
96$4,020,117$0$0$3,661,139
97$4,237,973$0$0$3,859,902
98$4,471,995$0$0$4,073,437
99$4,723,643$0$0$4,303,076
100$4,994,518$0$0$4,550,284