Can I retire at age 54 with 695,000?

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 $695,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$57,392$56,881$56,382$55,896$55,420$54,570
2 years$28,412$27,883$27,370$26,873$26,391$25,536
3 years$18,753$18,222$17,710$17,218$16,743$15,911
4 years$13,925$13,395$12,889$12,404$11,941$11,137
5 years$11,028$10,502$10,002$9,528$9,078$8,305
6 years$9,098$8,576$8,083$7,619$7,183$6,442
7 years$7,720$7,202$6,717$6,264$5,842$5,133
8 years$6,687$6,173$5,697$5,255$4,846$4,169
9 years$5,884$5,375$4,907$4,476$4,081$3,436
10 years$5,241$4,738$4,278$3,858$3,477$2,863
11 years$4,716$4,218$3,766$3,358$2,991$2,407
12 years$4,279$3,786$3,342$2,945$2,592$2,038
13 years$3,909$3,421$2,986$2,600$2,260$1,736
14 years$3,593$3,110$2,683$2,308$1,981$1,485
15 years$3,319$2,841$2,422$2,059$1,744$1,275
16 years$3,079$2,606$2,196$1,843$1,542$1,099
17 years$2,868$2,400$1,998$1,656$1,367$950
18 years$2,680$2,218$1,824$1,493$1,215$823
19 years$2,513$2,056$1,670$1,349$1,083$714
20 years$2,362$1,910$1,533$1,221$968$621
21 years$2,226$1,779$1,410$1,109$866$541
22 years$2,102$1,661$1,299$1,008$776$472
23 years$1,990$1,553$1,200$918$697$412
24 years$1,887$1,455$1,110$837$626$360
25 years$1,792$1,366$1,028$765$564$314
26 years$1,705$1,284$953$699$508$275
27 years$1,624$1,208$885$640$458$241
28 years$1,549$1,138$823$586$413$211
29 years$1,479$1,074$766$538$373$185
30 years$1,415$1,014$713$493$337$162
31 years$1,354$959$665$453$305$142
32 years$1,298$907$620$416$276$125
33 years$1,245$859$579$383$249$110
34 years$1,195$814$541$352$226$96
35 years$1,148$772$506$324$204$85
36 years$1,104$733$473$299$185$74
37 years$1,062$696$443$275$168$65
38 years$1,023$662$415$254$152$57
39 years$985$629$389$234$138$50
40 years$950$599$364$216$125$44
41 years$917$570$342$199$114$39
42 years$885$543$320$184$103$34
43 years$855$517$301$170$94$30
44 years$826$493$282$157$85$26
45 years$798$470$265$145$77$23
46 years$772$448$249$134$70$20
47 years$747$428$234$123$64$18
48 years$723$408$220$114$58$16
49 years$700$390$207$105$52$14
50 years$679$373$194$97$48$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $695,000, adding $3,734 every year, while hoping to spend $22,072 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: 51/19/30 Blend
53$695,000$695,000$695,000$695,000
54$769,742$732,907$722,134$802,309
55$824,771$745,335$722,841$837,884
56$884,673$757,632$722,832$874,051
57$949,923$769,769$722,060$912,956
58$1,021,040$781,713$720,474$954,871
59$1,098,600$793,430$718,024$1,000,095
60$1,183,234$804,885$714,654$1,048,959
61$1,275,636$816,037$710,308$1,101,827
62$1,376,572$826,844$704,924$1,159,104
63$1,486,885$837,261$698,441$1,221,234
64$1,607,501$847,241$690,793$1,288,708
65$1,739,443$856,732$681,911$1,362,069
66$1,883,833$865,680$671,723$1,441,916
67$2,041,911$874,025$660,152$1,528,909
68$2,215,040$881,706$647,121$1,623,778
69$2,404,721$888,656$632,546$1,727,328
70$2,612,607$894,805$616,341$1,840,447
71$2,840,519$900,077$598,415$1,964,115
72$3,090,464$904,392$578,674$2,099,415
73$3,364,649$907,666$557,017$2,247,540
74$3,665,509$909,807$533,343$2,409,808
75$3,995,723$910,719$507,542$2,587,672
76$4,358,243$910,301$479,501$2,782,736
77$4,756,321$908,443$449,101$2,996,769
78$5,193,539$905,030$416,220$3,231,725
79$5,673,845$899,941$380,728$3,489,755
80$6,201,584$893,045$342,489$3,773,235
81$6,781,546$884,205$301,363$4,084,787
82$7,419,007$873,275$257,202$4,427,301
83$8,119,781$860,100$209,853$4,803,966
84$8,890,270$844,517$159,155$5,218,297
85$9,737,531$826,351$104,940$5,674,175
86$10,669,337$805,420$47,034$6,175,876
87$11,694,252$781,529$0$6,728,120
88$12,821,713$754,471$0$7,340,835
89$14,062,116$724,028$0$8,031,408
90$15,426,917$689,971$0$8,791,158
91$16,928,737$652,054$0$9,627,131
92$18,581,484$610,020$0$10,547,091
93$20,400,480$563,595$0$11,559,594
94$22,402,610$512,493$0$12,674,072
95$24,606,478$456,406$0$13,900,919
96$27,032,582$395,013$0$15,251,592
97$29,703,510$327,974$0$16,738,715
98$32,644,152$254,928$0$18,376,207
99$35,881,932$175,497$0$20,179,402
100$39,447,070$89,277$0$22,165,206