Can I retire at age 54 with 693,000?

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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$57,227$56,718$56,220$55,735$55,261$54,706
2 years$28,330$27,803$27,291$26,796$26,315$25,756
3 years$18,699$18,169$17,659$17,168$16,695$16,150
4 years$13,885$13,356$12,851$12,369$11,907$11,380
5 years$10,997$10,472$9,973$9,500$9,052$8,543
6 years$9,072$8,551$8,060$7,598$7,162$6,673
7 years$7,698$7,181$6,698$6,246$5,825$5,356
8 years$6,668$6,155$5,680$5,240$4,832$4,383
9 years$5,867$5,359$4,892$4,463$4,069$3,640
10 years$5,226$4,724$4,265$3,847$3,467$3,058
11 years$4,703$4,206$3,755$3,348$2,982$2,591
12 years$4,267$3,775$3,333$2,937$2,584$2,212
13 years$3,898$3,411$2,977$2,593$2,253$1,900
14 years$3,583$3,101$2,675$2,302$1,975$1,640
15 years$3,309$2,833$2,415$2,053$1,739$1,421
16 years$3,070$2,599$2,190$1,838$1,537$1,236
17 years$2,860$2,393$1,993$1,651$1,363$1,078
18 years$2,673$2,212$1,819$1,488$1,212$942
19 years$2,506$2,050$1,665$1,345$1,080$826
20 years$2,355$1,905$1,528$1,218$965$725
21 years$2,220$1,774$1,406$1,105$863$637
22 years$2,096$1,656$1,296$1,005$774$561
23 years$1,984$1,549$1,196$915$695$495
24 years$1,881$1,451$1,106$835$624$437
25 years$1,787$1,362$1,025$762$562$386
26 years$1,700$1,280$950$697$506$341
27 years$1,619$1,205$882$638$456$302
28 years$1,545$1,135$820$585$412$267
29 years$1,475$1,071$763$536$372$237
30 years$1,411$1,011$711$492$336$210
31 years$1,350$956$663$452$304$186
32 years$1,294$905$619$415$275$165
33 years$1,241$857$578$382$249$146
34 years$1,191$812$540$351$225$130
35 years$1,145$770$505$323$204$115
36 years$1,101$731$472$298$185$102
37 years$1,059$694$442$274$167$91
38 years$1,020$660$414$253$152$81
39 years$983$627$388$233$138$72
40 years$947$597$363$215$125$64
41 years$914$568$341$198$113$57
42 years$882$541$320$183$103$50
43 years$852$516$300$169$93$45
44 years$823$491$281$156$85$40
45 years$796$469$264$144$77$35
46 years$770$447$248$133$70$31
47 years$745$427$233$123$63$28
48 years$721$407$219$114$58$25
49 years$698$389$206$105$52$22
50 years$677$372$194$97$47$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $693,000, adding $2,835 every year, while hoping to spend $50,663 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: 73/18/9 Blend
53$693,000$693,000$693,000$693,000
54$766,610$729,881$719,140$821,162
55$790,900$711,740$689,326$839,407
56$815,968$691,013$656,815$852,783
57$841,842$667,518$621,464$866,024
58$868,549$641,065$583,122$879,103
59$896,116$611,452$541,632$891,990
60$924,573$578,466$496,829$904,653
61$953,950$541,881$448,543$917,057
62$984,277$501,458$396,594$929,166
63$1,015,589$456,945$340,795$940,942
64$1,047,918$408,074$280,951$952,343
65$1,081,300$354,564$216,857$963,325
66$1,115,771$296,116$148,300$973,843
67$1,151,370$232,416$75,059$983,847
68$1,188,136$163,132$0$993,284
69$1,226,112$87,911$0$1,002,398
70$1,265,340$6,383$0$1,018,543
71$1,305,865$0$0$1,034,467
72$1,347,734$0$0$1,066,340
73$1,390,998$0$0$1,100,581
74$1,435,707$0$0$1,135,968
75$1,481,915$0$0$1,172,542
76$1,529,680$0$0$1,210,349
77$1,579,059$0$0$1,249,436
78$1,630,116$0$0$1,289,852
79$1,682,915$0$0$1,331,649
80$1,737,525$0$0$1,374,882
81$1,794,019$0$0$1,419,608
82$1,852,472$0$0$1,465,887
83$1,912,964$0$0$1,513,784
84$1,975,580$0$0$1,563,364
85$2,040,408$0$0$1,614,700
86$2,107,544$0$0$1,667,866
87$2,177,087$0$0$1,722,942
88$2,249,142$0$0$1,780,012
89$2,323,821$0$0$1,839,164
90$2,401,243$0$0$1,900,495
91$2,481,535$0$0$1,964,103
92$2,564,831$0$0$2,030,097
93$2,651,274$0$0$2,098,591
94$2,741,016$0$0$2,169,706
95$2,834,219$0$0$2,243,571
96$2,931,059$0$0$2,320,327
97$3,031,721$0$0$2,400,121
98$3,136,403$0$0$2,483,112
99$3,245,319$0$0$2,569,471
100$3,358,699$0$0$2,659,381