Can I retire at age 54 with 696,000?

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 $696,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$57,475$56,963$56,464$55,976$55,500$54,269
2 years$28,453$27,923$27,410$26,912$26,429$25,194
3 years$18,780$18,248$17,736$17,243$16,767$15,569
4 years$13,945$13,414$12,907$12,422$11,959$10,805
5 years$11,044$10,517$10,016$9,541$9,091$7,985
6 years$9,111$8,588$8,095$7,630$7,193$6,137
7 years$7,731$7,212$6,727$6,273$5,850$4,844
8 years$6,696$6,182$5,705$5,263$4,853$3,896
9 years$5,892$5,383$4,914$4,483$4,087$3,178
10 years$5,249$4,745$4,284$3,864$3,482$2,621
11 years$4,723$4,224$3,771$3,363$2,995$2,180
12 years$4,285$3,791$3,347$2,950$2,595$1,826
13 years$3,915$3,426$2,990$2,604$2,263$1,537
14 years$3,598$3,114$2,687$2,312$1,984$1,300
15 years$3,324$2,845$2,426$2,062$1,747$1,104
16 years$3,084$2,610$2,199$1,846$1,544$940
17 years$2,872$2,404$2,001$1,659$1,369$802
18 years$2,684$2,221$1,827$1,495$1,217$687
19 years$2,516$2,059$1,673$1,351$1,085$588
20 years$2,365$1,913$1,535$1,223$969$505
21 years$2,229$1,782$1,412$1,110$867$434
22 years$2,105$1,663$1,301$1,009$777$374
23 years$1,993$1,556$1,201$919$698$322
24 years$1,889$1,458$1,111$838$627$278
25 years$1,794$1,368$1,029$766$564$239
26 years$1,707$1,286$954$700$508$207
27 years$1,626$1,210$886$641$458$179
28 years$1,551$1,140$824$587$414$154
29 years$1,482$1,075$767$538$373$133
30 years$1,417$1,016$714$494$337$115
31 years$1,356$960$666$454$305$100
32 years$1,300$908$621$417$276$86
33 years$1,246$860$580$384$250$75
34 years$1,197$815$542$353$226$65
35 years$1,150$773$507$325$205$56
36 years$1,105$734$474$299$186$48
37 years$1,064$697$444$276$168$42
38 years$1,024$663$415$254$152$36
39 years$987$630$389$234$138$31
40 years$952$599$365$216$125$27
41 years$918$571$342$199$114$24
42 years$886$543$321$184$103$20
43 years$856$518$301$170$94$18
44 years$827$494$283$157$85$15
45 years$799$471$265$145$77$13
46 years$773$449$249$134$70$12
47 years$748$428$234$124$64$10
48 years$724$409$220$114$58$9
49 years$701$391$207$106$52$7
50 years$680$373$194$98$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $696,000, adding $6,320 every year, while hoping to spend $43,741 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: 68/11/21 Blend
53$696,000$696,000$696,000$696,000
54$773,511$736,623$725,835$821,636
55$805,869$726,178$703,610$844,194
56$840,062$713,754$679,175$863,200
57$876,230$699,210$652,409$882,939
58$914,527$682,393$623,187$903,482
59$955,122$663,143$591,377$924,909
60$998,197$641,290$556,841$947,306
61$1,043,955$616,655$519,437$970,775
62$1,092,614$589,047$479,013$995,423
63$1,144,414$558,264$435,414$1,021,375
64$1,199,620$524,094$388,476$1,048,767
65$1,258,518$486,312$338,027$1,077,753
66$1,321,425$444,679$283,889$1,108,502
67$1,388,687$398,945$225,875$1,141,206
68$1,460,682$348,842$163,791$1,176,074
69$1,537,826$294,090$97,433$1,213,343
70$1,620,576$234,392$26,589$1,253,273
71$1,709,433$169,435$0$1,296,157
72$1,804,944$98,887$0$1,353,299
73$1,907,714$22,398$0$1,421,149
74$2,018,405$0$0$1,494,195
75$2,137,743$0$0$1,580,249
76$2,266,528$0$0$1,676,072
77$2,405,637$0$0$1,779,610
78$2,556,035$0$0$1,891,585
79$2,718,782$0$0$2,012,791
80$2,895,042$0$0$2,144,100
81$3,086,098$0$0$2,286,472
82$3,293,359$0$0$2,440,962
83$3,518,373$0$0$2,608,729
84$3,762,844$0$0$2,791,051
85$4,028,648$0$0$2,989,331
86$4,317,847$0$0$3,205,113
87$4,632,710$0$0$3,440,098
88$4,975,734$0$0$3,696,155
89$5,349,667$0$0$3,975,343
90$5,757,532$0$0$4,279,926
91$6,202,660$0$0$4,612,399
92$6,688,712$0$0$4,975,505
93$7,219,724$0$0$5,372,266
94$7,800,135$0$0$5,806,009
95$8,434,834$0$0$6,280,395
96$9,129,203$0$0$6,799,457
97$9,889,169$0$0$7,367,635
98$10,721,259$0$0$7,989,818
99$11,632,659$0$0$8,671,391
100$12,631,283$0$0$9,418,282