Can I retire at age 54 with 694,000?

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 $694,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$57,310$56,799$56,301$55,815$55,341$54,223
2 years$28,371$27,843$27,331$26,834$26,353$25,232
3 years$18,726$18,196$17,685$17,193$16,719$15,630
4 years$13,905$13,376$12,870$12,387$11,924$10,875
5 years$11,013$10,487$9,988$9,514$9,065$8,058
6 years$9,085$8,563$8,072$7,608$7,173$6,210
7 years$7,709$7,191$6,707$6,255$5,833$4,915
8 years$6,677$6,164$5,688$5,247$4,839$3,965
9 years$5,875$5,367$4,899$4,470$4,075$3,244
10 years$5,234$4,731$4,271$3,853$3,472$2,684
11 years$4,710$4,212$3,761$3,353$2,986$2,239
12 years$4,273$3,780$3,337$2,941$2,588$1,881
13 years$3,904$3,416$2,982$2,597$2,257$1,589
14 years$3,588$3,105$2,679$2,305$1,978$1,349
15 years$3,314$2,837$2,419$2,056$1,742$1,149
16 years$3,075$2,603$2,193$1,841$1,539$982
17 years$2,864$2,397$1,996$1,654$1,365$841
18 years$2,676$2,215$1,822$1,490$1,214$722
19 years$2,509$2,053$1,668$1,347$1,082$622
20 years$2,359$1,907$1,531$1,220$966$536
21 years$2,223$1,777$1,408$1,107$865$462
22 years$2,099$1,658$1,297$1,006$775$399
23 years$1,987$1,551$1,198$917$696$345
24 years$1,884$1,453$1,108$836$625$299
25 years$1,789$1,364$1,026$763$563$259
26 years$1,702$1,282$952$698$507$224
27 years$1,621$1,206$884$639$457$195
28 years$1,547$1,137$822$585$412$169
29 years$1,477$1,072$765$537$372$147
30 years$1,413$1,013$712$493$336$127
31 years$1,352$957$664$453$304$110
32 years$1,296$906$619$416$275$96
33 years$1,243$858$578$382$249$83
34 years$1,193$813$540$352$225$73
35 years$1,146$771$505$324$204$63
36 years$1,102$732$473$298$185$55
37 years$1,061$695$442$275$168$48
38 years$1,021$661$414$253$152$41
39 years$984$628$388$234$138$36
40 years$949$598$364$215$125$31
41 years$915$569$341$199$113$27
42 years$884$542$320$183$103$24
43 years$853$516$300$169$93$21
44 years$825$492$282$156$85$18
45 years$797$469$265$144$77$16
46 years$771$448$249$133$70$14
47 years$746$427$234$123$63$12
48 years$722$408$219$114$58$10
49 years$699$389$206$105$52$9
50 years$678$372$194$97$48$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $694,000, adding $5,882 every year, while hoping to spend $20,221 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: 74/7/19 Blend
53$694,000$694,000$694,000$694,000
54$770,855$734,073$723,316$824,037
55$827,968$748,528$726,032$874,557
56$890,228$763,013$728,162$926,869
57$958,139$777,509$729,663$983,668
58$1,032,256$791,994$730,494$1,045,398
59$1,113,190$806,445$730,609$1,112,544
60$1,201,611$820,837$729,961$1,185,645
61$1,298,260$835,143$728,499$1,265,291
62$1,403,951$849,333$726,172$1,352,135
63$1,519,580$863,377$722,925$1,446,894
64$1,646,135$877,240$718,701$1,550,359
65$1,784,703$890,886$713,439$1,663,404
66$1,936,480$904,277$707,077$1,786,988
67$2,102,786$917,371$699,548$1,922,171
68$2,285,071$930,124$690,784$2,070,120
69$2,484,935$942,487$680,713$2,232,122
70$2,704,139$954,409$669,257$2,409,594
71$2,944,622$965,836$656,339$2,604,098
72$3,208,522$976,711$641,874$2,817,356
73$3,498,192$986,970$625,777$3,051,265
74$3,816,223$996,547$607,956$3,307,918
75$4,165,471$1,005,371$588,317$3,589,619
76$4,549,083$1,013,368$566,759$3,898,909
77$4,970,524$1,020,457$543,179$4,238,586
78$5,433,610$1,026,553$517,469$4,611,737
79$5,942,548$1,031,564$489,514$5,021,763
80$6,501,972$1,035,394$459,196$5,472,411
81$7,116,984$1,037,940$426,391$5,967,812
82$7,793,211$1,039,093$390,969$6,512,519
83$8,536,846$1,038,736$352,794$7,111,550
84$9,354,717$1,036,747$311,726$7,770,435
85$10,254,346$1,032,995$267,616$8,495,269
86$11,244,018$1,027,341$220,310$9,292,769
87$12,332,864$1,019,636$169,646$10,170,338
88$13,530,943$1,009,726$115,457$11,136,135
89$14,849,341$997,445$57,567$12,199,154
90$16,300,270$982,616$0$13,369,304
91$17,897,188$965,054$0$14,658,363
92$19,654,921$944,561$0$16,090,024
93$21,589,807$920,929$0$17,665,913
94$23,719,850$893,937$0$19,400,694
95$26,064,886$863,351$0$21,310,525
96$28,646,771$828,923$0$23,413,213
97$31,489,592$790,390$0$25,728,378
98$34,619,888$747,476$0$28,277,644
99$38,066,902$699,888$0$31,084,835
100$41,862,859$647,315$0$34,176,206