Can I retire at age 54 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$57,640$57,127$56,626$56,137$55,660$54,138
2 years$28,535$28,003$27,488$26,989$26,505$24,983
3 years$18,834$18,300$17,787$17,292$16,816$15,341
4 years$13,985$13,453$12,944$12,458$11,993$10,578
5 years$11,076$10,547$10,045$9,569$9,117$7,764
6 years$9,137$8,613$8,118$7,652$7,214$5,925
7 years$7,753$7,233$6,746$6,291$5,867$4,642
8 years$6,716$6,200$5,721$5,278$4,867$3,705
9 years$5,909$5,398$4,928$4,495$4,099$2,999
10 years$5,264$4,758$4,296$3,875$3,492$2,453
11 years$4,737$4,236$3,782$3,373$3,004$2,024
12 years$4,298$3,802$3,357$2,958$2,603$1,680
13 years$3,926$3,436$2,999$2,612$2,270$1,403
14 years$3,608$3,123$2,695$2,318$1,990$1,176
15 years$3,333$2,853$2,433$2,067$1,752$989
16 years$3,092$2,618$2,206$1,851$1,548$835
17 years$2,880$2,411$2,007$1,663$1,373$706
18 years$2,692$2,228$1,832$1,499$1,221$598
19 years$2,524$2,064$1,677$1,354$1,088$508
20 years$2,372$1,918$1,539$1,227$972$432
21 years$2,236$1,787$1,416$1,113$870$367
22 years$2,111$1,668$1,305$1,012$780$313
23 years$1,998$1,560$1,205$922$700$267
24 years$1,895$1,462$1,114$841$629$228
25 years$1,800$1,372$1,032$768$566$194
26 years$1,712$1,289$957$702$510$166
27 years$1,631$1,213$889$643$460$142
28 years$1,556$1,143$826$589$415$121
29 years$1,486$1,079$769$540$374$104
30 years$1,421$1,019$716$496$338$89
31 years$1,360$963$668$455$306$76
32 years$1,303$911$623$418$277$65
33 years$1,250$863$582$385$250$56
34 years$1,200$818$544$354$227$48
35 years$1,153$776$508$326$205$41
36 years$1,109$736$475$300$186$35
37 years$1,067$699$445$276$169$30
38 years$1,027$664$417$255$153$26
39 years$990$632$390$235$139$22
40 years$954$601$366$217$126$19
41 years$921$572$343$200$114$16
42 years$889$545$322$185$104$14
43 years$858$519$302$170$94$12
44 years$829$495$283$157$85$10
45 years$802$472$266$145$77$9
46 years$775$450$250$134$70$7
47 years$750$430$235$124$64$6
48 years$726$410$221$115$58$5
49 years$703$392$207$106$53$5
50 years$681$374$195$98$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $698,000, adding $5,431 every year, while hoping to spend $41,073 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: 23/47/30 Blend
53$698,000$698,000$698,000$698,000
54$774,798$737,804$726,985$785,225
55$810,126$730,255$707,638$787,246
56$847,681$720,960$686,266$785,633
57$887,647$709,789$662,758$783,047
58$930,224$696,606$636,997$779,435
59$975,633$681,266$608,863$774,744
60$1,024,116$663,616$578,229$768,920
61$1,075,937$643,494$544,960$761,910
62$1,131,385$620,728$508,919$753,659
63$1,190,778$595,136$469,960$744,112
64$1,254,466$566,525$427,931$733,217
65$1,322,829$534,693$382,675$720,922
66$1,396,289$499,424$334,025$707,174
67$1,475,305$460,491$281,810$691,927
68$1,560,383$417,652$225,848$675,132
69$1,652,080$370,654$165,951$656,747
70$1,751,004$319,229$101,923$636,734
71$1,857,826$263,091$33,557$615,059
72$1,973,284$201,941$0$591,695
73$2,098,186$135,463$0$579,232
74$2,233,422$63,322$0$577,331
75$2,379,970$0$0$575,312
76$2,538,907$0$0$580,936
77$2,711,415$0$0$622,689
78$2,898,795$0$0$668,149
79$3,102,479$0$0$717,678
80$3,324,040$0$0$771,671
81$3,565,212$0$0$830,567
82$3,827,900$0$0$894,846
83$4,114,202$0$0$965,038
84$4,426,427$0$0$1,041,726
85$4,767,114$0$0$1,125,550
86$5,139,061$0$0$1,217,218
87$5,545,346$0$0$1,317,507
88$5,989,359$0$0$1,427,274
89$6,474,830$0$0$1,547,462
90$7,005,867$0$0$1,679,108
91$7,586,994$0$0$1,823,358
92$8,223,192$0$0$1,981,470
93$8,919,946$0$0$2,154,832
94$9,683,295$0$0$2,344,971
95$10,519,891$0$0$2,553,569
96$11,437,060$0$0$2,782,482
97$12,442,871$0$0$3,033,750
98$13,546,211$0$0$3,309,621
99$14,756,867$0$0$3,612,575
100$16,085,622$0$0$3,945,338