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%11%
1 years$57,640$57,127$56,626$56,137$55,660$55,425
2 years$28,535$28,003$27,488$26,989$26,505$26,268
3 years$18,834$18,300$17,787$17,292$16,816$16,584
4 years$13,985$13,453$12,944$12,458$11,993$11,768
5 years$11,076$10,547$10,045$9,569$9,117$8,900
6 years$9,137$8,613$8,118$7,652$7,214$7,004
7 years$7,753$7,233$6,746$6,291$5,867$5,665
8 years$6,716$6,200$5,721$5,278$4,867$4,673
9 years$5,909$5,398$4,928$4,495$4,099$3,913
10 years$5,264$4,758$4,296$3,875$3,492$3,314
11 years$4,737$4,236$3,782$3,373$3,004$2,833
12 years$4,298$3,802$3,357$2,958$2,603$2,440
13 years$3,926$3,436$2,999$2,612$2,270$2,115
14 years$3,608$3,123$2,695$2,318$1,990$1,842
15 years$3,333$2,853$2,433$2,067$1,752$1,611
16 years$3,092$2,618$2,206$1,851$1,548$1,414
17 years$2,880$2,411$2,007$1,663$1,373$1,245
18 years$2,692$2,228$1,832$1,499$1,221$1,100
19 years$2,524$2,064$1,677$1,354$1,088$973
20 years$2,372$1,918$1,539$1,227$972$863
21 years$2,236$1,787$1,416$1,113$870$767
22 years$2,111$1,668$1,305$1,012$780$682
23 years$1,998$1,560$1,205$922$700$608
24 years$1,895$1,462$1,114$841$629$542
25 years$1,800$1,372$1,032$768$566$484
26 years$1,712$1,289$957$702$510$433
27 years$1,631$1,213$889$643$460$387
28 years$1,556$1,143$826$589$415$347
29 years$1,486$1,079$769$540$374$311
30 years$1,421$1,019$716$496$338$278
31 years$1,360$963$668$455$306$250
32 years$1,303$911$623$418$277$224
33 years$1,250$863$582$385$250$201
34 years$1,200$818$544$354$227$181
35 years$1,153$776$508$326$205$162
36 years$1,109$736$475$300$186$146
37 years$1,067$699$445$276$169$131
38 years$1,027$664$417$255$153$118
39 years$990$632$390$235$139$106
40 years$954$601$366$217$126$95
41 years$921$572$343$200$114$86
42 years$889$545$322$185$104$77
43 years$858$519$302$170$94$69
44 years$829$495$283$157$85$62
45 years$802$472$266$145$77$56
46 years$775$450$250$134$70$51
47 years$750$430$235$124$64$46
48 years$726$410$221$115$58$41
49 years$703$392$207$106$53$37
50 years$681$374$195$98$48$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $698,000, adding $6,721 every year, while hoping to spend $34,349 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: 65/17/18 Blend
53$698,000$698,000$698,000$698,000
54$776,129$739,135$728,316$822,680
55$818,747$738,805$716,167$854,396
56$864,561$737,308$702,461$884,488
57$913,860$734,551$687,107$916,549
58$966,963$730,433$670,015$950,772
59$1,024,219$724,850$651,086$987,369
60$1,086,012$717,690$630,220$1,026,578
61$1,152,763$708,835$607,310$1,068,660
62$1,224,937$698,160$582,247$1,113,903
63$1,303,041$685,531$554,913$1,162,628
64$1,387,637$670,807$525,188$1,215,187
65$1,479,340$653,841$492,946$1,271,973
66$1,578,827$634,473$458,054$1,333,417
67$1,686,842$612,537$420,373$1,399,997
68$1,804,204$587,855$379,760$1,472,242
69$1,931,814$560,242$336,063$1,550,735
70$2,070,664$529,498$289,126$1,636,122
71$2,221,842$495,414$238,783$1,729,116
72$2,386,551$457,770$184,862$1,830,505
73$2,566,108$416,330$127,185$1,941,160
74$2,761,969$370,848$65,563$2,062,043
75$2,975,733$321,062$0$2,194,217
76$3,209,159$266,696$0$2,338,895
77$3,464,187$207,458$0$2,510,775
78$3,742,951$143,040$0$2,698,725
79$4,047,798$73,115$0$2,904,370
80$4,381,317$0$0$3,129,502
81$4,746,355$0$0$3,376,592
82$5,146,048$0$0$3,662,160
83$5,583,851$0$0$3,975,004
84$6,063,566$0$0$4,317,845
85$6,589,381$0$0$4,693,684
86$7,165,911$0$0$5,105,824
87$7,798,236$0$0$5,557,904
88$8,491,952$0$0$6,053,932
89$9,253,224$0$0$6,598,322
90$10,088,841$0$0$7,195,937
91$11,006,282$0$0$7,852,133
92$12,013,786$0$0$8,572,811
93$13,120,428$0$0$9,364,470
94$14,336,208$0$0$10,234,271
95$15,672,137$0$0$11,190,102
96$17,140,351$0$0$12,240,655
97$18,754,217$0$0$13,395,502
98$20,528,462$0$0$14,665,193
99$22,479,312$0$0$16,061,347
100$24,624,642$0$0$17,596,768