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%18.4%
1 years$56,814$56,308$55,815$55,333$54,862$53,000
2 years$28,126$27,602$27,094$26,602$26,125$24,267
3 years$18,564$18,038$17,532$17,044$16,575$14,780
4 years$13,785$13,260$12,759$12,279$11,821$10,104
5 years$10,917$10,396$9,901$9,432$8,986$7,350
6 years$9,007$8,489$8,002$7,543$7,111$5,557
7 years$7,642$7,129$6,649$6,201$5,783$4,312
8 years$6,619$6,111$5,639$5,202$4,797$3,407
9 years$5,824$5,321$4,857$4,431$4,040$2,730
10 years$5,189$4,690$4,235$3,820$3,442$2,209
11 years$4,669$4,175$3,728$3,324$2,961$1,803
12 years$4,236$3,747$3,309$2,916$2,566$1,480
13 years$3,870$3,387$2,956$2,574$2,237$1,221
14 years$3,557$3,078$2,656$2,285$1,961$1,012
15 years$3,285$2,812$2,398$2,038$1,727$841
16 years$3,048$2,580$2,174$1,825$1,526$701
17 years$2,839$2,376$1,978$1,639$1,353$585
18 years$2,653$2,196$1,806$1,477$1,203$490
19 years$2,487$2,035$1,653$1,335$1,072$411
20 years$2,338$1,891$1,517$1,209$958$344
21 years$2,204$1,761$1,396$1,097$857$289
22 years$2,081$1,644$1,286$998$768$243
23 years$1,970$1,538$1,188$909$690$205
24 years$1,868$1,441$1,098$829$620$172
25 years$1,774$1,352$1,017$757$558$145
26 years$1,687$1,271$944$692$502$122
27 years$1,607$1,196$876$633$453$103
28 years$1,533$1,127$814$580$409$87
29 years$1,465$1,063$758$532$369$73
30 years$1,400$1,004$706$488$334$62
31 years$1,341$949$658$449$302$52
32 years$1,285$898$614$412$273$44
33 years$1,232$850$573$379$247$37
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$19
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$10
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 $2,712 every year, while hoping to spend $34,220 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: 84/8/8 Blend
53$688,000$688,000$688,000$688,000
54$760,973$724,509$713,845$823,981
55$802,183$723,601$701,349$864,637
56$846,449$721,500$687,288$904,380
57$894,047$718,114$671,572$946,966
58$945,280$713,342$654,110$992,659
59$1,000,479$707,076$634,804$1,041,751
60$1,060,011$699,206$613,553$1,094,560
61$1,124,276$689,611$590,250$1,151,441
62$1,193,714$678,164$564,785$1,212,779
63$1,268,810$664,731$537,043$1,279,005
64$1,350,095$649,170$506,901$1,350,587
65$1,438,156$631,330$474,233$1,428,045
66$1,533,635$611,052$438,907$1,511,949
67$1,637,240$588,167$400,784$1,602,931
68$1,749,748$562,497$359,720$1,701,681
69$1,872,015$533,853$315,564$1,808,966
70$2,004,984$502,035$268,158$1,925,626
71$2,149,689$466,831$217,338$2,052,588
72$2,307,270$428,019$162,932$2,190,876
73$2,478,981$385,361$104,760$2,341,616
74$2,666,202$338,609$42,634$2,506,048
75$2,870,452$287,499$0$2,685,540
76$3,093,404$231,751$0$2,883,621
77$3,336,896$171,072$0$3,103,946
78$3,602,956$105,151$0$3,344,722
79$3,893,813$33,659$0$3,607,985
80$4,211,923$0$0$3,895,981
81$4,559,990$0$0$4,215,031
82$4,940,992$0$0$4,567,526
83$5,358,205$0$0$4,953,535
84$5,815,242$0$0$5,376,401
85$6,316,076$0$0$5,839,804
86$6,865,088$0$0$6,347,797
87$7,467,099$0$0$6,904,844
88$8,127,422$0$0$7,515,862
89$8,851,905$0$0$8,186,264
90$9,646,994$0$0$8,922,017
91$10,519,786$0$0$9,729,691
92$11,478,100$0$0$10,616,522
93$12,530,548$0$0$11,590,484
94$13,686,619$0$0$12,660,360
95$14,956,766$0$0$13,835,823
96$16,352,501$0$0$15,127,533
97$17,886,511$0$0$16,547,231
98$19,572,771$0$0$18,107,855
99$21,426,678$0$0$19,823,655
100$23,465,193$0$0$21,710,335