Can I retire at age 54 with 697,000?

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 $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%13.4%
1 years$57,558$57,045$56,545$56,056$55,580$54,794
2 years$28,494$27,963$27,449$26,950$26,467$25,677
3 years$18,807$18,274$17,761$17,267$16,791$16,022
4 years$13,965$13,434$12,926$12,440$11,976$11,232
5 years$11,060$10,532$10,031$9,555$9,104$8,389
6 years$9,124$8,600$8,106$7,641$7,204$6,518
7 years$7,742$7,222$6,736$6,282$5,858$5,202
8 years$6,706$6,191$5,713$5,270$4,860$4,233
9 years$5,901$5,390$4,921$4,489$4,093$3,495
10 years$5,257$4,751$4,290$3,870$3,487$2,918
11 years$4,730$4,230$3,777$3,368$2,999$2,457
12 years$4,291$3,796$3,352$2,954$2,599$2,085
13 years$3,921$3,431$2,995$2,608$2,266$1,779
14 years$3,603$3,119$2,691$2,315$1,987$1,525
15 years$3,328$2,849$2,429$2,065$1,749$1,312
16 years$3,088$2,614$2,203$1,849$1,546$1,133
17 years$2,876$2,407$2,004$1,661$1,371$982
18 years$2,688$2,224$1,830$1,497$1,219$852
19 years$2,520$2,062$1,675$1,353$1,086$741
20 years$2,369$1,916$1,537$1,225$970$646
21 years$2,232$1,784$1,414$1,112$868$564
22 years$2,108$1,666$1,303$1,011$778$493
23 years$1,995$1,558$1,203$921$699$431
24 years$1,892$1,460$1,113$840$628$377
25 years$1,797$1,370$1,031$767$565$331
26 years$1,709$1,287$956$701$509$290
27 years$1,628$1,212$888$642$459$255
28 years$1,553$1,142$825$588$414$224
29 years$1,484$1,077$768$539$374$197
30 years$1,419$1,017$715$495$338$173
31 years$1,358$962$667$454$305$152
32 years$1,301$910$622$418$276$134
33 years$1,248$862$581$384$250$118
34 years$1,198$817$543$353$226$104
35 years$1,151$775$507$325$205$91
36 years$1,107$735$475$300$186$80
37 years$1,065$698$444$276$168$71
38 years$1,026$664$416$254$153$62
39 years$988$631$390$235$138$55
40 years$953$600$365$216$126$48
41 years$919$571$343$200$114$43
42 years$887$544$321$184$103$38
43 years$857$519$302$170$94$33
44 years$828$494$283$157$85$29
45 years$801$471$266$145$77$26
46 years$774$450$250$134$70$23
47 years$749$429$235$124$64$20
48 years$725$410$220$114$58$18
49 years$702$391$207$106$53$16
50 years$681$374$195$98$48$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $697,000, adding $2,808 every year, while hoping to spend $28,306 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: 83/12/5 Blend
53$697,000$697,000$697,000$697,000
54$770,990$734,049$723,246$834,703
55$819,514$739,901$717,357$882,562
56$872,038$745,090$710,323$930,981
57$928,942$749,554$702,074$983,254
58$990,640$753,228$692,539$1,039,750
59$1,057,590$756,041$681,644$1,100,874
60$1,130,295$757,918$669,310$1,167,072
61$1,209,308$758,779$655,455$1,238,836
62$1,295,237$758,539$639,993$1,316,709
63$1,388,753$757,109$622,834$1,401,286
64$1,490,591$754,393$603,884$1,493,224
65$1,601,563$750,290$583,046$1,593,248
66$1,722,560$744,692$560,216$1,702,154
67$1,854,565$737,485$535,287$1,820,821
68$1,998,657$728,549$508,146$1,950,217
69$2,156,028$717,755$478,676$2,091,406
70$2,327,985$704,968$446,754$2,245,565
71$2,515,972$690,043$412,252$2,413,986
72$2,721,574$672,829$375,036$2,598,096
73$2,946,541$653,164$334,966$2,799,467
74$3,192,797$630,877$291,896$3,019,829
75$3,462,460$605,789$245,673$3,261,090
76$3,757,866$577,706$196,137$3,525,353
77$4,081,583$546,429$143,122$3,814,935
78$4,436,442$511,741$86,455$4,132,389
79$4,825,560$473,418$25,952$4,480,528
80$5,252,372$431,220$0$4,862,454
81$5,720,658$384,895$0$5,283,642
82$6,234,585$334,174$0$5,747,412
83$6,798,741$278,777$0$6,256,538
84$7,418,179$218,404$0$6,815,606
85$8,098,469$152,741$0$7,429,668
86$8,845,742$81,454$0$8,104,293
87$9,666,756$4,194$0$8,845,617
88$10,568,954$0$0$9,660,401
89$11,560,536$0$0$10,566,582
90$12,650,537$0$0$11,563,330
91$13,848,908$0$0$12,659,192
92$15,166,616$0$0$13,864,200
93$16,615,741$0$0$15,189,402
94$18,209,594$0$0$16,646,972
95$19,962,840$0$0$18,250,325
96$21,891,637$0$0$20,014,238
97$24,013,788$0$0$21,954,996
98$26,348,908$0$0$24,090,539
99$28,918,611$0$0$26,440,636
100$31,746,709$0$0$29,027,068