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%16.5%
1 years$56,897$56,390$55,896$55,413$54,942$53,483
2 years$28,167$27,642$27,134$26,641$26,163$24,704
3 years$18,591$18,065$17,557$17,069$16,599$15,185
4 years$13,805$13,279$12,777$12,297$11,838$10,480
5 years$10,933$10,411$9,916$9,446$8,999$7,701
6 years$9,020$8,501$8,013$7,554$7,121$5,883
7 years$7,653$7,140$6,659$6,210$5,791$4,614
8 years$6,629$6,120$5,647$5,210$4,804$3,687
9 years$5,833$5,328$4,864$4,437$4,046$2,988
10 years$5,196$4,697$4,241$3,825$3,447$2,448
11 years$4,676$4,181$3,733$3,329$2,965$2,022
12 years$4,242$3,753$3,313$2,920$2,569$1,681
13 years$3,876$3,392$2,960$2,578$2,240$1,405
14 years$3,562$3,083$2,660$2,288$1,964$1,179
15 years$3,290$2,816$2,401$2,041$1,729$993
16 years$3,053$2,584$2,177$1,827$1,528$839
17 years$2,843$2,380$1,981$1,642$1,355$711
18 years$2,657$2,199$1,809$1,480$1,205$603
19 years$2,491$2,038$1,656$1,337$1,074$513
20 years$2,342$1,894$1,519$1,211$959$437
21 years$2,207$1,764$1,398$1,099$858$372
22 years$2,084$1,647$1,288$999$769$318
23 years$1,973$1,540$1,189$910$691$271
24 years$1,870$1,443$1,100$830$621$232
25 years$1,776$1,354$1,019$758$559$198
26 years$1,690$1,273$945$693$503$170
27 years$1,610$1,198$877$634$454$145
28 years$1,536$1,129$816$581$409$124
29 years$1,467$1,065$759$533$370$107
30 years$1,403$1,005$707$489$334$91
31 years$1,343$950$659$449$302$78
32 years$1,286$899$615$413$273$67
33 years$1,234$852$574$380$247$58
34 years$1,185$807$537$349$224$49
35 years$1,138$766$502$322$203$42
36 years$1,094$727$469$296$184$36
37 years$1,053$690$439$273$166$31
38 years$1,014$656$411$252$151$27
39 years$977$624$385$232$137$23
40 years$942$593$361$214$124$20
41 years$909$565$339$197$113$17
42 years$877$538$318$182$102$14
43 years$847$513$298$168$93$12
44 years$819$489$280$155$84$11
45 years$791$466$263$143$76$9
46 years$765$444$247$132$69$8
47 years$741$424$232$122$63$7
48 years$717$405$218$113$57$6
49 years$694$387$205$104$52$5
50 years$673$369$193$97$47$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $689,000, adding $6,432 every year, while hoping to spend $28,220 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: 58/32/10 Blend
53$689,000$689,000$689,000$689,000
54$765,913$729,396$718,716$808,145
55$814,010$735,110$712,767$843,057
56$866,067$740,159$705,673$877,365
57$922,459$744,479$697,366$914,076
58$983,596$748,005$687,774$953,424
59$1,049,931$750,666$676,823$995,665
60$1,121,962$752,386$664,434$1,041,085
61$1,200,235$753,086$650,526$1,089,998
62$1,285,353$752,681$635,012$1,142,751
63$1,377,977$751,081$617,804$1,199,730
64$1,478,838$748,191$598,807$1,261,357
65$1,588,735$743,908$577,923$1,328,101
66$1,708,553$738,126$555,050$1,400,480
67$1,839,261$730,731$530,080$1,479,064
68$1,981,930$721,601$502,902$1,564,486
69$2,137,735$710,607$473,398$1,657,441
70$2,307,972$697,615$441,445$1,758,701
71$2,494,068$682,481$406,915$1,869,114
72$2,697,591$665,051$369,676$1,989,621
73$2,920,272$645,165$329,586$2,121,256
74$3,164,013$622,651$286,501$2,265,164
75$3,430,911$597,330$240,267$2,422,610
76$3,723,274$569,009$190,726$2,594,987
77$4,043,643$537,486$137,711$2,783,835
78$4,394,819$502,547$81,048$2,990,855
79$4,779,885$463,966$20,558$3,217,922
80$5,202,236$421,503$0$3,467,107
81$5,665,614$374,906$0$3,745,390
82$6,174,138$323,908$0$4,053,246
83$6,732,346$268,225$0$4,391,284
84$7,345,237$207,560$0$4,762,598
85$8,018,318$141,598$0$5,170,604
86$8,757,655$70,005$0$5,619,067
87$9,569,931$0$0$6,112,138
88$10,462,508$0$0$6,657,066
89$11,443,495$0$0$7,283,124
90$12,521,828$0$0$7,971,372
91$13,707,351$0$0$8,728,100
92$15,010,908$0$0$9,560,239
93$16,444,449$0$0$10,475,426
94$18,021,137$0$0$11,482,073
95$19,755,476$0$0$12,589,449
96$21,663,449$0$0$13,807,769
97$23,762,661$0$0$15,148,284
98$26,072,513$0$0$16,623,394
99$28,614,382$0$0$18,246,759
100$31,411,818$0$0$20,033,433