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%19.9%
1 years$57,475$56,963$56,464$55,976$55,500$53,298
2 years$28,453$27,923$27,410$26,912$26,429$24,237
3 years$18,780$18,248$17,736$17,243$16,767$14,656
4 years$13,945$13,414$12,907$12,422$11,959$9,943
5 years$11,044$10,517$10,016$9,541$9,091$7,176
6 years$9,111$8,588$8,095$7,630$7,193$5,381
7 years$7,731$7,212$6,727$6,273$5,850$4,139
8 years$6,696$6,182$5,705$5,263$4,853$3,242
9 years$5,892$5,383$4,914$4,483$4,087$2,574
10 years$5,249$4,745$4,284$3,864$3,482$2,063
11 years$4,723$4,224$3,771$3,363$2,995$1,667
12 years$4,285$3,791$3,347$2,950$2,595$1,355
13 years$3,915$3,426$2,990$2,604$2,263$1,107
14 years$3,598$3,114$2,687$2,312$1,984$907
15 years$3,324$2,845$2,426$2,062$1,747$746
16 years$3,084$2,610$2,199$1,846$1,544$615
17 years$2,872$2,404$2,001$1,659$1,369$508
18 years$2,684$2,221$1,827$1,495$1,217$420
19 years$2,516$2,059$1,673$1,351$1,085$348
20 years$2,365$1,913$1,535$1,223$969$289
21 years$2,229$1,782$1,412$1,110$867$240
22 years$2,105$1,663$1,301$1,009$777$199
23 years$1,993$1,556$1,201$919$698$166
24 years$1,889$1,458$1,111$838$627$138
25 years$1,794$1,368$1,029$766$564$115
26 years$1,707$1,286$954$700$508$96
27 years$1,626$1,210$886$641$458$80
28 years$1,551$1,140$824$587$414$66
29 years$1,482$1,075$767$538$373$55
30 years$1,417$1,016$714$494$337$46
31 years$1,356$960$666$454$305$38
32 years$1,300$908$621$417$276$32
33 years$1,246$860$580$384$250$27
34 years$1,197$815$542$353$226$22
35 years$1,150$773$507$325$205$19
36 years$1,105$734$474$299$186$15
37 years$1,064$697$444$276$168$13
38 years$1,024$663$415$254$152$11
39 years$987$630$389$234$138$9
40 years$952$599$365$216$125$7
41 years$918$571$342$199$114$6
42 years$886$543$321$184$103$5
43 years$856$518$301$170$94$4
44 years$827$494$283$157$85$4
45 years$799$471$265$145$77$3
46 years$773$449$249$134$70$3
47 years$748$428$234$124$64$2
48 years$724$409$220$114$58$2
49 years$701$391$207$106$52$1
50 years$680$373$194$98$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $696,000, adding $3,991 every year, while hoping to spend $52,964 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: 73/19/8 Blend
53$696,000$696,000$696,000$696,000
54$771,109$734,221$723,433$826,121
55$793,409$713,844$691,314$842,571
56$816,208$690,694$656,345$853,561
57$839,502$664,579$618,373$864,113
58$863,282$635,295$577,240$874,170
59$887,541$602,628$532,782$883,667
60$912,264$566,351$484,824$892,533
61$937,436$526,223$433,187$900,695
62$963,038$481,991$377,681$908,070
63$989,045$433,386$318,111$914,570
64$1,015,430$380,124$254,270$920,099
65$1,042,159$321,906$185,944$924,552
66$1,069,195$258,415$112,908$927,817
67$1,096,491$189,315$34,929$929,772
68$1,123,996$114,254$0$930,284
69$1,151,649$32,859$0$933,333
70$1,179,383$0$0$938,090
71$1,207,120$0$0$952,980
72$1,234,770$0$0$974,653
73$1,262,232$0$0$996,158
74$1,289,394$0$0$1,017,401
75$1,316,126$0$0$1,038,281
76$1,342,284$0$0$1,058,678
77$1,367,705$0$0$1,078,463
78$1,392,207$0$0$1,097,487
79$1,415,586$0$0$1,115,586
80$1,437,613$0$0$1,132,575
81$1,458,032$0$0$1,148,248
82$1,476,558$0$0$1,162,374
83$1,492,872$0$0$1,174,696
84$1,506,621$0$0$1,184,929
85$1,517,408$0$0$1,192,754
86$1,524,794$0$0$1,197,816
87$1,528,292$0$0$1,199,721
88$1,527,356$0$0$1,198,032
89$1,521,386$0$0$1,192,263
90$1,509,711$0$0$1,181,875
91$1,491,590$0$0$1,166,269
92$1,466,198$0$0$1,144,783
93$1,432,624$0$0$1,116,680
94$1,389,857$0$0$1,081,148
95$1,336,778$0$0$1,037,285
96$1,272,147$0$0$984,091
97$1,194,593$0$0$920,464
98$1,102,598$0$0$845,181
99$994,483$0$0$756,890
100$868,393$0$0$654,096