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%14.5%
1 years$57,640$57,127$56,626$56,137$55,660$54,625
2 years$28,535$28,003$27,488$26,989$26,505$25,466
3 years$18,834$18,300$17,787$17,292$16,816$15,806
4 years$13,985$13,453$12,944$12,458$11,993$11,019
5 years$11,076$10,547$10,045$9,569$9,117$8,182
6 years$9,137$8,613$8,118$7,652$7,214$6,319
7 years$7,753$7,233$6,746$6,291$5,867$5,013
8 years$6,716$6,200$5,721$5,278$4,867$4,053
9 years$5,909$5,398$4,928$4,495$4,099$3,324
10 years$5,264$4,758$4,296$3,875$3,492$2,757
11 years$4,737$4,236$3,782$3,373$3,004$2,306
12 years$4,298$3,802$3,357$2,958$2,603$1,942
13 years$3,926$3,436$2,999$2,612$2,270$1,645
14 years$3,608$3,123$2,695$2,318$1,990$1,400
15 years$3,333$2,853$2,433$2,067$1,752$1,196
16 years$3,092$2,618$2,206$1,851$1,548$1,025
17 years$2,880$2,411$2,007$1,663$1,373$881
18 years$2,692$2,228$1,832$1,499$1,221$759
19 years$2,524$2,064$1,677$1,354$1,088$655
20 years$2,372$1,918$1,539$1,227$972$566
21 years$2,236$1,787$1,416$1,113$870$490
22 years$2,111$1,668$1,305$1,012$780$424
23 years$1,998$1,560$1,205$922$700$368
24 years$1,895$1,462$1,114$841$629$320
25 years$1,800$1,372$1,032$768$566$278
26 years$1,712$1,289$957$702$510$241
27 years$1,631$1,213$889$643$460$210
28 years$1,556$1,143$826$589$415$183
29 years$1,486$1,079$769$540$374$159
30 years$1,421$1,019$716$496$338$139
31 years$1,360$963$668$455$306$121
32 years$1,303$911$623$418$277$105
33 years$1,250$863$582$385$250$92
34 years$1,200$818$544$354$227$80
35 years$1,153$776$508$326$205$70
36 years$1,109$736$475$300$186$61
37 years$1,067$699$445$276$169$53
38 years$1,027$664$417$255$153$46
39 years$990$632$390$235$139$41
40 years$954$601$366$217$126$35
41 years$921$572$343$200$114$31
42 years$889$545$322$185$104$27
43 years$858$519$302$170$94$24
44 years$829$495$283$157$85$21
45 years$802$472$266$145$77$18
46 years$775$450$250$134$70$16
47 years$750$430$235$124$64$14
48 years$726$410$221$115$58$12
49 years$703$392$207$106$53$10
50 years$681$374$195$98$48$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $698,000, adding $6,482 every year, while hoping to spend $28,302 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: 45/42/13 Blend
53$698,000$698,000$698,000$698,000
54$775,882$738,888$728,069$807,645
55$824,909$744,981$722,346$836,480
56$877,988$750,423$715,483$864,345
57$935,503$755,154$707,412$893,935
58$997,875$759,107$698,061$925,422
59$1,065,567$762,213$687,355$958,995
60$1,139,091$764,397$675,218$994,863
61$1,219,006$765,580$661,565$1,033,259
62$1,305,931$765,679$646,313$1,074,440
63$1,400,542$764,604$629,372$1,118,691
64$1,503,589$762,261$610,647$1,166,330
65$1,615,892$758,549$590,041$1,217,706
66$1,738,357$753,362$567,451$1,273,208
67$1,871,979$746,586$542,770$1,333,264
68$2,017,854$738,102$515,886$1,398,351
69$2,177,189$727,783$486,682$1,468,996
70$2,351,312$715,494$455,035$1,545,781
71$2,541,684$701,092$420,818$1,629,351
72$2,749,917$684,426$383,896$1,720,421
73$2,977,783$665,337$344,131$1,819,780
74$3,227,233$643,655$301,375$1,928,302
75$3,500,416$619,200$255,477$2,046,955
76$3,799,701$591,783$206,278$2,176,805
77$4,127,694$561,203$153,612$2,319,037
78$4,487,265$527,249$97,304$2,474,956
79$4,881,576$489,694$37,174$2,646,008
80$5,314,111$448,303$0$2,833,789
81$5,788,704$402,824$0$3,043,811
82$6,309,582$352,992$0$3,280,024
83$6,881,397$298,527$0$3,539,451
84$7,509,277$239,132$0$3,824,505
85$8,198,869$174,495$0$4,137,848
86$8,956,395$104,286$0$4,482,420
87$9,788,707$28,156$0$4,861,464
88$10,703,356$0$0$5,278,564
89$11,708,659$0$0$5,762,750
90$12,813,780$0$0$6,309,407
91$14,028,816$0$0$6,910,527
92$15,364,887$0$0$7,571,625
93$16,834,250$0$0$8,298,776
94$18,450,405$0$0$9,098,673
95$20,228,229$0$0$9,978,693
96$22,184,111$0$0$10,946,962
97$24,336,110$0$0$12,012,432
98$26,704,123$0$0$13,184,971
99$29,310,074$0$0$14,475,448
100$32,178,119$0$0$15,895,839