Can I retire at age 54 with 694,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%18.4%
1 years$57,310$56,799$56,301$55,815$55,341$53,462
2 years$28,371$27,843$27,331$26,834$26,353$24,479
3 years$18,726$18,196$17,685$17,193$16,719$14,909
4 years$13,905$13,376$12,870$12,387$11,924$10,192
5 years$11,013$10,487$9,988$9,514$9,065$7,414
6 years$9,085$8,563$8,072$7,608$7,173$5,605
7 years$7,709$7,191$6,707$6,255$5,833$4,349
8 years$6,677$6,164$5,688$5,247$4,839$3,437
9 years$5,875$5,367$4,899$4,470$4,075$2,753
10 years$5,234$4,731$4,271$3,853$3,472$2,229
11 years$4,710$4,212$3,761$3,353$2,986$1,818
12 years$4,273$3,780$3,337$2,941$2,588$1,493
13 years$3,904$3,416$2,982$2,597$2,257$1,232
14 years$3,588$3,105$2,679$2,305$1,978$1,020
15 years$3,314$2,837$2,419$2,056$1,742$848
16 years$3,075$2,603$2,193$1,841$1,539$707
17 years$2,864$2,397$1,996$1,654$1,365$590
18 years$2,676$2,215$1,822$1,490$1,214$494
19 years$2,509$2,053$1,668$1,347$1,082$414
20 years$2,359$1,907$1,531$1,220$966$347
21 years$2,223$1,777$1,408$1,107$865$292
22 years$2,099$1,658$1,297$1,006$775$245
23 years$1,987$1,551$1,198$917$696$206
24 years$1,884$1,453$1,108$836$625$174
25 years$1,789$1,364$1,026$763$563$146
26 years$1,702$1,282$952$698$507$123
27 years$1,621$1,206$884$639$457$104
28 years$1,547$1,137$822$585$412$88
29 years$1,477$1,072$765$537$372$74
30 years$1,413$1,013$712$493$336$62
31 years$1,352$957$664$453$304$53
32 years$1,296$906$619$416$275$44
33 years$1,243$858$578$382$249$37
34 years$1,193$813$540$352$225$32
35 years$1,146$771$505$324$204$27
36 years$1,102$732$473$298$185$23
37 years$1,061$695$442$275$168$19
38 years$1,021$661$414$253$152$16
39 years$984$628$388$234$138$14
40 years$949$598$364$215$125$11
41 years$915$569$341$199$113$10
42 years$884$542$320$183$103$8
43 years$853$516$300$169$93$7
44 years$825$492$282$156$85$6
45 years$797$469$265$144$77$5
46 years$771$448$249$133$70$4
47 years$746$427$234$123$63$4
48 years$722$408$219$114$58$3
49 years$699$389$206$105$52$3
50 years$678$372$194$97$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $694,000, adding $2,696 every year, while hoping to spend $27,845 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: 66/5/29 Blend
53$694,000$694,000$694,000$694,000
54$767,569$730,787$720,030$812,181
55$816,234$736,969$714,524$848,826
56$868,930$742,520$707,901$885,533
57$926,038$747,381$700,092$925,060
58$987,978$751,487$691,030$967,688
59$1,055,212$754,770$680,639$1,013,728
60$1,128,247$757,157$668,844$1,063,522
61$1,207,642$758,571$655,564$1,117,448
62$1,294,011$758,931$640,715$1,175,924
63$1,388,030$758,148$624,209$1,239,410
64$1,490,443$756,132$605,954$1,308,415
65$1,602,069$752,783$585,854$1,383,501
66$1,723,808$747,997$563,808$1,465,286
67$1,856,651$741,663$539,711$1,554,456
68$2,001,691$733,666$513,452$1,651,764
69$2,160,127$723,880$484,917$1,758,044
70$2,333,284$712,174$453,985$1,874,214
71$2,522,617$698,408$420,531$2,001,289
72$2,729,728$682,435$384,424$2,140,387
73$2,956,384$664,098$345,526$2,292,744
74$3,204,528$643,231$303,694$2,459,721
75$3,476,300$619,660$258,778$2,642,822
76$3,774,058$593,198$210,622$2,843,704
77$4,100,397$563,650$159,062$3,064,196
78$4,458,176$530,807$103,930$3,306,316
79$4,850,544$494,451$45,045$3,572,289
80$5,280,969$454,348$0$3,864,570
81$5,753,271$410,255$0$4,191,373
82$6,271,657$361,910$0$4,565,410
83$6,840,763$309,040$0$4,976,084
84$7,465,694$251,356$0$5,427,093
85$8,152,073$188,551$0$5,922,511
86$8,906,097$120,303$0$6,466,827
87$9,734,591$46,269$0$7,064,987
88$10,645,073$0$0$7,722,439
89$11,645,827$0$0$8,447,053
90$12,745,979$0$0$9,246,486
91$13,955,584$0$0$10,125,502
92$15,285,718$0$0$11,092,158
93$16,748,585$0$0$12,155,329
94$18,357,633$0$0$13,324,794
95$20,127,675$0$0$14,611,328
96$22,075,034$0$0$16,026,802
97$24,217,696$0$0$17,584,295
98$26,575,476$0$0$19,298,219
99$29,170,208$0$0$21,184,454
100$32,025,950$0$0$23,260,497