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%17.1%
1 years$57,310$56,799$56,301$55,815$55,341$53,741
2 years$28,371$27,843$27,331$26,834$26,353$24,754
3 years$18,726$18,196$17,685$17,193$16,719$15,172
4 years$13,905$13,376$12,870$12,387$11,924$10,439
5 years$11,013$10,487$9,988$9,514$9,065$7,646
6 years$9,085$8,563$8,072$7,608$7,173$5,822
7 years$7,709$7,191$6,707$6,255$5,833$4,551
8 years$6,677$6,164$5,688$5,247$4,839$3,624
9 years$5,875$5,367$4,899$4,470$4,075$2,927
10 years$5,234$4,731$4,271$3,853$3,472$2,388
11 years$4,710$4,212$3,761$3,353$2,986$1,965
12 years$4,273$3,780$3,337$2,941$2,588$1,627
13 years$3,904$3,416$2,982$2,597$2,257$1,354
14 years$3,588$3,105$2,679$2,305$1,978$1,132
15 years$3,314$2,837$2,419$2,056$1,742$950
16 years$3,075$2,603$2,193$1,841$1,539$799
17 years$2,864$2,397$1,996$1,654$1,365$674
18 years$2,676$2,215$1,822$1,490$1,214$569
19 years$2,509$2,053$1,668$1,347$1,082$482
20 years$2,359$1,907$1,531$1,220$966$408
21 years$2,223$1,777$1,408$1,107$865$346
22 years$2,099$1,658$1,297$1,006$775$294
23 years$1,987$1,551$1,198$917$696$250
24 years$1,884$1,453$1,108$836$625$213
25 years$1,789$1,364$1,026$763$563$181
26 years$1,702$1,282$952$698$507$154
27 years$1,621$1,206$884$639$457$131
28 years$1,547$1,137$822$585$412$112
29 years$1,477$1,072$765$537$372$95
30 years$1,413$1,013$712$493$336$81
31 years$1,352$957$664$453$304$69
32 years$1,296$906$619$416$275$59
33 years$1,243$858$578$382$249$51
34 years$1,193$813$540$352$225$43
35 years$1,146$771$505$324$204$37
36 years$1,102$732$473$298$185$31
37 years$1,061$695$442$275$168$27
38 years$1,021$661$414$253$152$23
39 years$984$628$388$234$138$20
40 years$949$598$364$215$125$17
41 years$915$569$341$199$113$14
42 years$884$542$320$183$103$12
43 years$853$516$300$169$93$10
44 years$825$492$282$156$85$9
45 years$797$469$265$144$77$8
46 years$771$448$249$133$70$6
47 years$746$427$234$123$63$6
48 years$722$408$219$114$58$5
49 years$699$389$206$105$52$4
50 years$678$372$194$97$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $694,000, adding $4,319 every year, while hoping to spend $50,508 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: 51/22/27 Blend
53$694,000$694,000$694,000$694,000
54$769,243$732,461$721,704$802,435
55$793,966$714,612$692,141$808,142
56$819,517$694,195$659,895$808,914
57$845,929$671,031$624,822$808,751
58$873,234$644,931$586,774$807,586
59$901,465$615,695$545,592$805,347
60$930,660$583,109$501,115$801,962
61$960,856$546,951$453,171$797,352
62$992,093$506,981$401,582$791,434
63$1,024,413$462,949$346,162$784,123
64$1,057,860$414,591$286,715$775,328
65$1,092,481$361,625$223,039$764,955
66$1,128,325$303,755$154,922$752,903
67$1,165,444$240,669$82,141$739,067
68$1,203,893$172,035$4,466$723,339
69$1,243,730$97,505$0$705,602
70$1,285,017$16,710$0$708,331
71$1,327,821$0$0$711,647
72$1,372,209$0$0$731,331
73$1,418,257$0$0$755,955
74$1,466,044$0$0$781,517
75$1,515,653$0$0$808,061
76$1,567,175$0$0$835,639
77$1,620,705$0$0$864,302
78$1,676,347$0$0$894,107
79$1,734,209$0$0$925,113
80$1,794,409$0$0$957,386
81$1,857,074$0$0$990,996
82$1,922,340$0$0$1,026,015
83$1,990,351$0$0$1,062,526
84$2,061,266$0$0$1,100,615
85$2,135,253$0$0$1,140,375
86$2,212,494$0$0$1,181,906
87$2,293,187$0$0$1,225,318
88$2,377,543$0$0$1,270,727
89$2,465,792$0$0$1,318,262
90$2,558,184$0$0$1,368,060
91$2,654,988$0$0$1,420,270
92$2,756,495$0$0$1,475,055
93$2,863,024$0$0$1,532,590
94$2,974,917$0$0$1,593,067
95$3,092,549$0$0$1,656,694
96$3,216,326$0$0$1,723,695
97$3,346,692$0$0$1,794,319
98$3,484,127$0$0$1,868,833
99$3,629,157$0$0$1,947,529
100$3,782,354$0$0$2,030,727