Can I retire at age 54 with 698,000?

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 $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%12.1%
1 years$57,640$57,127$56,626$56,137$55,660$55,170
2 years$28,535$28,003$27,488$26,989$26,505$26,011
3 years$18,834$18,300$17,787$17,292$16,816$16,334
4 years$13,985$13,453$12,944$12,458$11,993$11,527
5 years$11,076$10,547$10,045$9,569$9,117$8,667
6 years$9,137$8,613$8,118$7,652$7,214$6,781
7 years$7,753$7,233$6,746$6,291$5,867$5,452
8 years$6,716$6,200$5,721$5,278$4,867$4,469
9 years$5,909$5,398$4,928$4,495$4,099$3,718
10 years$5,264$4,758$4,296$3,875$3,492$3,129
11 years$4,737$4,236$3,782$3,373$3,004$2,657
12 years$4,298$3,802$3,357$2,958$2,603$2,272
13 years$3,926$3,436$2,999$2,612$2,270$1,955
14 years$3,608$3,123$2,695$2,318$1,990$1,691
15 years$3,333$2,853$2,433$2,067$1,752$1,468
16 years$3,092$2,618$2,206$1,851$1,548$1,279
17 years$2,880$2,411$2,007$1,663$1,373$1,118
18 years$2,692$2,228$1,832$1,499$1,221$980
19 years$2,524$2,064$1,677$1,354$1,088$860
20 years$2,372$1,918$1,539$1,227$972$757
21 years$2,236$1,787$1,416$1,113$870$667
22 years$2,111$1,668$1,305$1,012$780$589
23 years$1,998$1,560$1,205$922$700$520
24 years$1,895$1,462$1,114$841$629$460
25 years$1,800$1,372$1,032$768$566$407
26 years$1,712$1,289$957$702$510$361
27 years$1,631$1,213$889$643$460$320
28 years$1,556$1,143$826$589$415$284
29 years$1,486$1,079$769$540$374$252
30 years$1,421$1,019$716$496$338$224
31 years$1,360$963$668$455$306$199
32 years$1,303$911$623$418$277$177
33 years$1,250$863$582$385$250$158
34 years$1,200$818$544$354$227$140
35 years$1,153$776$508$326$205$125
36 years$1,109$736$475$300$186$111
37 years$1,067$699$445$276$169$99
38 years$1,027$664$417$255$153$88
39 years$990$632$390$235$139$79
40 years$954$601$366$217$126$70
41 years$921$572$343$200$114$62
42 years$889$545$322$185$104$56
43 years$858$519$302$170$94$50
44 years$829$495$283$157$85$44
45 years$802$472$266$145$77$39
46 years$775$450$250$134$70$35
47 years$750$430$235$124$64$31
48 years$726$410$221$115$58$28
49 years$703$392$207$106$53$25
50 years$681$374$195$98$48$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $698,000, adding $3,206 every year, while hoping to spend $47,721 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: 79/11/10 Blend
53$698,000$698,000$698,000$698,000
54$772,503$735,509$724,690$831,997
55$800,524$720,774$698,192$856,783
56$829,803$703,718$669,208$877,452
57$860,419$684,176$637,602$898,732
58$892,456$661,975$603,236$920,661
59$926,005$636,931$565,963$943,283
60$961,166$608,849$525,631$966,647
61$998,045$577,523$482,081$990,804
62$1,036,760$542,735$435,144$1,015,816
63$1,077,436$504,256$384,649$1,041,746
64$1,120,212$461,842$330,411$1,068,669
65$1,165,236$415,235$272,243$1,096,666
66$1,212,672$364,163$209,945$1,125,826
67$1,262,696$308,339$143,310$1,156,249
68$1,315,503$247,459$72,122$1,188,046
69$1,371,302$181,202$0$1,221,341
70$1,430,324$109,230$0$1,256,681
71$1,492,819$31,184$0$1,302,046
72$1,559,061$0$0$1,349,929
73$1,629,351$0$0$1,406,996
74$1,704,014$0$0$1,471,635
75$1,783,411$0$0$1,540,383
76$1,867,931$0$0$1,613,580
77$1,958,005$0$0$1,691,600
78$2,054,103$0$0$1,774,850
79$2,156,738$0$0$1,863,780
80$2,266,475$0$0$1,958,880
81$2,383,933$0$0$2,060,686
82$2,509,789$0$0$2,169,790
83$2,644,787$0$0$2,286,839
84$2,789,743$0$0$2,412,542
85$2,945,554$0$0$2,547,678
86$3,113,201$0$0$2,693,104
87$3,293,766$0$0$2,849,759
88$3,488,433$0$0$3,018,674
89$3,698,506$0$0$3,200,982
90$3,925,414$0$0$3,397,930
91$4,170,732$0$0$3,610,886
92$4,436,188$0$0$3,841,354
93$4,723,681$0$0$4,090,988
94$5,035,301$0$0$4,361,605
95$5,373,345$0$0$4,655,206
96$5,740,339$0$0$4,973,988
97$6,139,063$0$0$5,320,371
98$6,572,572$0$0$5,697,014
99$7,044,231$0$0$6,106,845
100$7,557,738$0$0$6,553,084