Can I retire at age 54 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$56,897$56,390$55,896$55,413$54,942$52,762
2 years$28,167$27,642$27,134$26,641$26,163$23,994
3 years$18,591$18,065$17,557$17,069$16,599$14,509
4 years$13,805$13,279$12,777$12,297$11,838$9,843
5 years$10,933$10,411$9,916$9,446$8,999$7,104
6 years$9,020$8,501$8,013$7,554$7,121$5,327
7 years$7,653$7,140$6,659$6,210$5,791$4,098
8 years$6,629$6,120$5,647$5,210$4,804$3,210
9 years$5,833$5,328$4,864$4,437$4,046$2,548
10 years$5,196$4,697$4,241$3,825$3,447$2,043
11 years$4,676$4,181$3,733$3,329$2,965$1,650
12 years$4,242$3,753$3,313$2,920$2,569$1,341
13 years$3,876$3,392$2,960$2,578$2,240$1,096
14 years$3,562$3,083$2,660$2,288$1,964$898
15 years$3,290$2,816$2,401$2,041$1,729$739
16 years$3,053$2,584$2,177$1,827$1,528$609
17 years$2,843$2,380$1,981$1,642$1,355$503
18 years$2,657$2,199$1,809$1,480$1,205$416
19 years$2,491$2,038$1,656$1,337$1,074$345
20 years$2,342$1,894$1,519$1,211$959$286
21 years$2,207$1,764$1,398$1,099$858$238
22 years$2,084$1,647$1,288$999$769$197
23 years$1,973$1,540$1,189$910$691$164
24 years$1,870$1,443$1,100$830$621$136
25 years$1,776$1,354$1,019$758$559$114
26 years$1,690$1,273$945$693$503$95
27 years$1,610$1,198$877$634$454$79
28 years$1,536$1,129$816$581$409$66
29 years$1,467$1,065$759$533$370$55
30 years$1,403$1,005$707$489$334$46
31 years$1,343$950$659$449$302$38
32 years$1,286$899$615$413$273$32
33 years$1,234$852$574$380$247$26
34 years$1,185$807$537$349$224$22
35 years$1,138$766$502$322$203$18
36 years$1,094$727$469$296$184$15
37 years$1,053$690$439$273$166$13
38 years$1,014$656$411$252$151$11
39 years$977$624$385$232$137$9
40 years$942$593$361$214$124$7
41 years$909$565$339$197$113$6
42 years$877$538$318$182$102$5
43 years$847$513$298$168$93$4
44 years$819$489$280$155$84$4
45 years$791$466$263$143$76$3
46 years$765$444$247$132$69$2
47 years$741$424$232$122$63$2
48 years$717$405$218$113$57$2
49 years$694$387$205$104$52$1
50 years$673$369$193$97$47$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $689,000, adding $2,081 every year, while hoping to spend $39,991 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: 84/7/9 Blend
53$689,000$689,000$689,000$689,000
54$761,425$724,908$714,228$824,302
55$796,540$717,878$695,605$858,676
56$833,896$709,163$675,017$890,825
57$873,681$698,640$652,357$924,900
58$916,097$686,174$627,512$961,069
59$961,369$671,626$600,363$999,518
60$1,009,741$654,848$570,788$1,040,452
61$1,061,482$635,683$538,657$1,084,096
62$1,116,886$613,965$503,835$1,130,697
63$1,176,276$589,517$466,181$1,180,529
64$1,240,006$562,153$425,548$1,233,892
65$1,308,465$531,676$381,782$1,291,117
66$1,382,078$497,879$334,721$1,352,569
67$1,461,315$460,540$284,200$1,418,650
68$1,546,690$419,426$230,041$1,489,802
69$1,638,767$374,293$172,061$1,566,513
70$1,738,166$324,878$110,071$1,649,322
71$1,845,570$270,908$43,869$1,738,819
72$1,961,728$212,093$0$1,835,659
73$2,087,463$148,124$0$1,943,133
74$2,223,680$78,678$0$2,064,126
75$2,371,376$3,414$0$2,195,316
76$2,531,644$0$0$2,337,690
77$2,705,689$0$0$2,498,346
78$2,894,835$0$0$2,673,237
79$3,100,538$0$0$2,863,449
80$3,324,401$0$0$3,070,465
81$3,568,189$0$0$3,295,918
82$3,833,840$0$0$3,541,603
83$4,123,491$0$0$3,809,497
84$4,439,493$0$0$4,101,777
85$4,784,432$0$0$4,420,835
86$5,161,157$0$0$4,769,309
87$5,572,802$0$0$5,150,100
88$6,022,818$0$0$5,566,402
89$6,515,007$0$0$6,021,734
90$7,053,551$0$0$6,519,968
91$7,643,058$0$0$7,065,368
92$8,288,601$0$0$7,662,630
93$8,995,767$0$0$8,316,926
94$9,770,709$0$0$9,033,950
95$10,620,202$0$0$9,819,975
96$11,551,709$0$0$10,681,907
97$12,573,449$0$0$11,627,357
98$13,694,476$0$0$12,664,703
99$14,924,762$0$0$13,803,175
100$16,275,290$0$0$15,052,943