Can I retire at age 54 with 697,000?

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 $697,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$57,558$57,045$56,545$56,056$55,580$54,954
2 years$28,494$27,963$27,449$26,950$26,467$25,836
3 years$18,807$18,274$17,761$17,267$16,791$16,176
4 years$13,965$13,434$12,926$12,440$11,976$11,381
5 years$11,060$10,532$10,031$9,555$9,104$8,531
6 years$9,124$8,600$8,106$7,641$7,204$6,653
7 years$7,742$7,222$6,736$6,282$5,858$5,331
8 years$6,706$6,191$5,713$5,270$4,860$4,355
9 years$5,901$5,390$4,921$4,489$4,093$3,610
10 years$5,257$4,751$4,290$3,870$3,487$3,027
11 years$4,730$4,230$3,777$3,368$2,999$2,561
12 years$4,291$3,796$3,352$2,954$2,599$2,182
13 years$3,921$3,431$2,995$2,608$2,266$1,870
14 years$3,603$3,119$2,691$2,315$1,987$1,611
15 years$3,328$2,849$2,429$2,065$1,749$1,393
16 years$3,088$2,614$2,203$1,849$1,546$1,209
17 years$2,876$2,407$2,004$1,661$1,371$1,052
18 years$2,688$2,224$1,830$1,497$1,219$918
19 years$2,520$2,062$1,675$1,353$1,086$803
20 years$2,369$1,916$1,537$1,225$970$703
21 years$2,232$1,784$1,414$1,112$868$617
22 years$2,108$1,666$1,303$1,011$778$542
23 years$1,995$1,558$1,203$921$699$477
24 years$1,892$1,460$1,113$840$628$420
25 years$1,797$1,370$1,031$767$565$370
26 years$1,709$1,287$956$701$509$326
27 years$1,628$1,212$888$642$459$288
28 years$1,553$1,142$825$588$414$254
29 years$1,484$1,077$768$539$374$225
30 years$1,419$1,017$715$495$338$199
31 years$1,358$962$667$454$305$176
32 years$1,301$910$622$418$276$156
33 years$1,248$862$581$384$250$138
34 years$1,198$817$543$353$226$122
35 years$1,151$775$507$325$205$108
36 years$1,107$735$475$300$186$96
37 years$1,065$698$444$276$168$85
38 years$1,026$664$416$254$153$75
39 years$988$631$390$235$138$67
40 years$953$600$365$216$126$59
41 years$919$571$343$200$114$52
42 years$887$544$321$184$103$46
43 years$857$519$302$170$94$41
44 years$828$494$283$157$85$36
45 years$801$471$266$145$77$32
46 years$774$450$250$134$70$29
47 years$749$429$235$124$64$25
48 years$725$410$220$114$58$23
49 years$702$391$207$106$53$20
50 years$681$374$195$98$48$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $697,000, adding $6,314 every year, while hoping to spend $32,715 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: 81/10/9 Blend
53$697,000$697,000$697,000$697,000
54$774,607$737,666$726,862$835,830
55$818,808$739,003$716,404$878,194
56$866,422$739,309$704,498$919,718
57$917,761$738,499$691,063$964,313
58$973,170$736,483$676,011$1,012,266
59$1,033,027$733,165$659,251$1,063,898
60$1,097,749$728,443$640,689$1,119,560
61$1,167,791$722,209$620,224$1,179,640
62$1,243,658$714,349$597,754$1,244,564
63$1,325,900$704,741$573,168$1,314,804
64$1,415,126$693,257$546,353$1,390,877
65$1,512,003$679,761$517,190$1,473,355
66$1,617,267$664,109$485,555$1,562,866
67$1,731,725$646,148$451,319$1,660,105
68$1,856,267$625,715$414,344$1,765,835
69$1,991,872$602,640$374,490$1,880,900
70$2,139,616$576,742$331,608$2,006,227
71$2,300,683$547,830$285,544$2,142,839
72$2,476,379$515,699$236,135$2,291,865
73$2,668,137$480,136$183,214$2,454,548
74$2,877,539$440,915$126,603$2,632,258
75$3,106,323$397,795$66,120$2,826,505
76$3,356,405$350,523$1,571$3,038,955
77$3,629,892$298,832$0$3,271,442
78$3,929,105$242,439$0$3,532,453
79$4,256,600$181,045$0$3,818,336
80$4,615,191$114,335$0$4,131,418
81$5,007,978$41,975$0$4,474,432
82$5,438,374$0$0$4,850,385
83$5,910,137$0$0$5,266,599
84$6,427,406$0$0$5,728,043
85$6,994,742$0$0$6,234,169
86$7,617,166$0$0$6,789,459
87$8,300,209$0$0$7,398,849
88$9,049,965$0$0$8,067,778
89$9,873,144$0$0$8,802,237
90$10,777,141$0$0$9,608,824
91$11,770,098$0$0$10,494,809
92$12,860,988$0$0$11,468,200
93$14,059,695$0$0$12,537,819
94$15,377,107$0$0$13,713,385
95$16,825,220$0$0$15,005,604
96$18,417,249$0$0$16,426,274
97$20,167,754$0$0$17,988,390
98$22,092,777$0$0$19,706,271
99$24,209,992$0$0$21,595,693
100$26,538,871$0$0$23,674,036