Can I retire at age 54 with 688,000?

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 $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%18.3%
1 years$56,814$56,308$55,815$55,333$54,862$53,021
2 years$28,126$27,602$27,094$26,602$26,125$24,288
3 years$18,564$18,038$17,532$17,044$16,575$14,800
4 years$13,785$13,260$12,759$12,279$11,821$10,122
5 years$10,917$10,396$9,901$9,432$8,986$7,367
6 years$9,007$8,489$8,002$7,543$7,111$5,573
7 years$7,642$7,129$6,649$6,201$5,783$4,327
8 years$6,619$6,111$5,639$5,202$4,797$3,421
9 years$5,824$5,321$4,857$4,431$4,040$2,742
10 years$5,189$4,690$4,235$3,820$3,442$2,221
11 years$4,669$4,175$3,728$3,324$2,961$1,813
12 years$4,236$3,747$3,309$2,916$2,566$1,490
13 years$3,870$3,387$2,956$2,574$2,237$1,230
14 years$3,557$3,078$2,656$2,285$1,961$1,020
15 years$3,285$2,812$2,398$2,038$1,727$848
16 years$3,048$2,580$2,174$1,825$1,526$707
17 years$2,839$2,376$1,978$1,639$1,353$591
18 years$2,653$2,196$1,806$1,477$1,203$495
19 years$2,487$2,035$1,653$1,335$1,072$415
20 years$2,338$1,891$1,517$1,209$958$349
21 years$2,204$1,761$1,396$1,097$857$293
22 years$2,081$1,644$1,286$998$768$247
23 years$1,970$1,538$1,188$909$690$208
24 years$1,868$1,441$1,098$829$620$175
25 years$1,774$1,352$1,017$757$558$148
26 years$1,687$1,271$944$692$502$124
27 years$1,607$1,196$876$633$453$105
28 years$1,533$1,127$814$580$409$89
29 years$1,465$1,063$758$532$369$75
30 years$1,400$1,004$706$488$334$63
31 years$1,341$949$658$449$302$53
32 years$1,285$898$614$412$273$45
33 years$1,232$850$573$379$247$38
34 years$1,183$806$536$349$223$32
35 years$1,136$765$501$321$202$27
36 years$1,093$726$469$296$183$23
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$14
40 years$941$593$361$214$124$12
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$4
48 years$716$404$218$113$57$3
49 years$693$386$204$104$52$3
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 $3,786 every year, while hoping to spend $28,012 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: 52/36/12 Blend
53$688,000$688,000$688,000$688,000
54$762,081$725,617$714,953$799,102
55$810,009$731,368$709,100$830,530
56$861,887$736,462$702,111$861,385
57$918,087$740,836$693,920$894,299
58$979,021$744,427$684,456$929,473
59$1,045,140$747,162$673,644$967,131
60$1,116,941$748,969$661,407$1,007,520
61$1,194,968$749,769$647,664$1,050,912
62$1,279,824$749,476$632,329$1,097,610
63$1,372,168$748,003$615,315$1,147,948
64$1,472,729$745,254$596,527$1,202,295
65$1,582,305$741,130$575,868$1,261,059
66$1,701,778$735,523$553,238$1,324,694
67$1,832,117$728,321$528,529$1,393,697
68$1,974,388$719,403$501,629$1,468,623
69$2,129,765$708,644$472,424$1,550,080
70$2,299,542$695,909$440,791$1,638,744
71$2,485,141$681,054$406,603$1,735,362
72$2,688,129$663,929$369,728$1,840,757
73$2,910,231$644,375$330,027$1,955,841
74$3,153,347$622,221$287,355$2,081,621
75$3,419,568$597,290$241,562$2,219,208
76$3,711,199$569,392$192,488$2,369,833
77$4,030,774$538,325$139,970$2,534,852
78$4,381,089$503,879$83,835$2,715,765
79$4,765,220$465,829$23,903$2,914,229
80$5,186,557$423,939$0$3,132,073
81$5,648,831$377,957$0$3,376,445
82$6,156,154$327,619$0$3,648,048
83$6,713,055$272,646$0$3,946,308
84$7,324,522$212,742$0$4,273,971
85$7,996,052$147,594$0$4,634,068
86$8,733,697$76,874$0$5,029,944
87$9,544,126$233$0$5,465,288
88$10,434,687$0$0$5,944,173
89$11,413,471$0$0$6,503,848
90$12,489,397$0$0$7,119,246
91$13,672,288$0$0$7,795,902
92$14,972,966$0$0$8,540,019
93$16,403,355$0$0$9,358,426
94$17,976,594$0$0$10,258,652
95$19,707,155$0$0$11,248,990
96$21,610,988$0$0$12,338,576
97$23,705,663$0$0$13,537,479
98$26,010,542$0$0$14,856,792
99$28,546,955$0$0$16,308,737
100$31,338,408$0$0$17,906,782