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%18.4%
1 years$57,558$57,045$56,545$56,056$55,580$53,693
2 years$28,494$27,963$27,449$26,950$26,467$24,585
3 years$18,807$18,274$17,761$17,267$16,791$14,974
4 years$13,965$13,434$12,926$12,440$11,976$10,236
5 years$11,060$10,532$10,031$9,555$9,104$7,446
6 years$9,124$8,600$8,106$7,641$7,204$5,630
7 years$7,742$7,222$6,736$6,282$5,858$4,368
8 years$6,706$6,191$5,713$5,270$4,860$3,452
9 years$5,901$5,390$4,921$4,489$4,093$2,765
10 years$5,257$4,751$4,290$3,870$3,487$2,238
11 years$4,730$4,230$3,777$3,368$2,999$1,826
12 years$4,291$3,796$3,352$2,954$2,599$1,499
13 years$3,921$3,431$2,995$2,608$2,266$1,237
14 years$3,603$3,119$2,691$2,315$1,987$1,025
15 years$3,328$2,849$2,429$2,065$1,749$852
16 years$3,088$2,614$2,203$1,849$1,546$710
17 years$2,876$2,407$2,004$1,661$1,371$593
18 years$2,688$2,224$1,830$1,497$1,219$496
19 years$2,520$2,062$1,675$1,353$1,086$416
20 years$2,369$1,916$1,537$1,225$970$349
21 years$2,232$1,784$1,414$1,112$868$293
22 years$2,108$1,666$1,303$1,011$778$246
23 years$1,995$1,558$1,203$921$699$207
24 years$1,892$1,460$1,113$840$628$175
25 years$1,797$1,370$1,031$767$565$147
26 years$1,709$1,287$956$701$509$124
27 years$1,628$1,212$888$642$459$104
28 years$1,553$1,142$825$588$414$88
29 years$1,484$1,077$768$539$374$74
30 years$1,419$1,017$715$495$338$63
31 years$1,358$962$667$454$305$53
32 years$1,301$910$622$418$276$45
33 years$1,248$862$581$384$250$38
34 years$1,198$817$543$353$226$32
35 years$1,151$775$507$325$205$27
36 years$1,107$735$475$300$186$23
37 years$1,065$698$444$276$168$19
38 years$1,026$664$416$254$153$16
39 years$988$631$390$235$138$14
40 years$953$600$365$216$126$12
41 years$919$571$343$200$114$10
42 years$887$544$321$184$103$8
43 years$857$519$302$170$94$7
44 years$828$494$283$157$85$6
45 years$801$471$266$145$77$5
46 years$774$450$250$134$70$4
47 years$749$429$235$124$64$4
48 years$725$410$220$114$58$3
49 years$702$391$207$106$53$3
50 years$681$374$195$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $697,000, adding $3,292 every year, while hoping to spend $53,689 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: 30/45/25 Blend
53$697,000$697,000$697,000$697,000
54$771,490$734,549$723,745$788,589
55$793,057$713,417$690,866$780,942
56$815,025$689,450$655,086$767,756
57$837,377$662,453$616,251$752,481
58$860,095$632,218$574,201$734,971
59$883,155$598,528$528,767$715,072
60$906,530$561,149$479,774$692,621
61$930,188$519,837$427,038$667,444
62$954,091$474,333$370,368$639,357
63$978,197$424,364$309,564$608,165
64$1,002,456$369,641$244,417$573,661
65$1,026,810$309,857$174,709$535,626
66$1,051,195$244,690$100,212$493,827
67$1,075,536$173,799$20,688$448,017
68$1,099,749$96,824$0$397,935
69$1,123,739$13,383$0$360,422
70$1,147,398$0$0$325,067
71$1,170,605$0$0$324,194
72$1,193,223$0$0$329,693
73$1,215,100$0$0$334,884
74$1,236,063$0$0$339,710
75$1,255,921$0$0$344,103
76$1,274,458$0$0$347,992
77$1,291,435$0$0$351,294
78$1,306,584$0$0$353,919
79$1,319,605$0$0$355,766
80$1,330,167$0$0$356,722
81$1,337,899$0$0$356,663
82$1,342,389$0$0$355,450
83$1,343,180$0$0$352,928
84$1,339,764$0$0$348,928
85$1,331,576$0$0$343,260
86$1,317,990$0$0$335,715
87$1,298,312$0$0$326,059
88$1,271,772$0$0$314,035
89$1,237,518$0$0$299,359
90$1,194,604$0$0$281,714
91$1,141,986$0$0$260,752
92$1,078,505$0$0$236,086
93$1,002,879$0$0$207,289
94$913,693$0$0$173,890
95$809,378$0$0$135,366
96$688,201$0$0$91,140
97$548,246$0$0$40,575
98$387,397$0$0$0
99$203,312$0$0$0
100$0$0$0$0