Can I retire at age 54 with 699,000?

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 $699,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$57,723$57,209$56,707$56,217$55,739$53,612
2 years$28,576$28,043$27,528$27,028$26,542$24,425
3 years$18,861$18,327$17,812$17,317$16,840$14,798
4 years$14,005$13,472$12,963$12,476$12,010$10,060
5 years$11,092$10,562$10,060$9,583$9,130$7,276
6 years$9,151$8,625$8,130$7,663$7,224$5,467
7 years$7,764$7,243$6,756$6,300$5,875$4,216
8 years$6,725$6,209$5,729$5,285$4,874$3,310
9 years$5,917$5,406$4,935$4,502$4,105$2,634
10 years$5,272$4,765$4,302$3,881$3,497$2,117
11 years$4,744$4,242$3,788$3,377$3,008$1,715
12 years$4,304$3,807$3,361$2,962$2,607$1,398
13 years$3,932$3,441$3,003$2,615$2,273$1,145
14 years$3,614$3,128$2,698$2,322$1,992$941
15 years$3,338$2,857$2,436$2,070$1,754$776
16 years$3,097$2,621$2,209$1,854$1,550$642
17 years$2,884$2,414$2,010$1,666$1,375$532
18 years$2,696$2,231$1,835$1,501$1,222$441
19 years$2,527$2,067$1,680$1,356$1,090$367
20 years$2,376$1,921$1,542$1,228$973$305
21 years$2,239$1,789$1,418$1,115$871$254
22 years$2,114$1,670$1,307$1,014$781$212
23 years$2,001$1,562$1,207$923$701$177
24 years$1,897$1,464$1,116$842$630$147
25 years$1,802$1,374$1,034$769$567$123
26 years$1,714$1,291$959$703$511$103
27 years$1,633$1,215$890$644$460$86
28 years$1,558$1,145$827$590$415$72
29 years$1,488$1,080$770$541$375$60
30 years$1,423$1,020$717$496$339$50
31 years$1,362$964$669$456$306$42
32 years$1,305$912$624$419$277$35
33 years$1,252$864$583$385$251$29
34 years$1,202$819$544$354$227$25
35 years$1,155$777$509$326$206$21
36 years$1,110$737$476$300$186$17
37 years$1,068$700$446$277$169$14
38 years$1,029$665$417$255$153$12
39 years$991$633$391$235$139$10
40 years$956$602$366$217$126$8
41 years$922$573$344$200$114$7
42 years$890$546$322$185$104$6
43 years$859$520$302$171$94$5
44 years$831$496$284$157$85$4
45 years$803$473$267$145$78$3
46 years$777$451$250$134$70$3
47 years$751$430$235$124$64$2
48 years$727$411$221$115$58$2
49 years$704$392$208$106$53$2
50 years$682$375$195$98$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $699,000, adding $2,797 every year, while hoping to spend $27,561 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: 56/20/24 Blend
53$699,000$699,000$699,000$699,000
54$773,183$736,136$725,302$811,276
55$822,723$742,882$720,275$844,431
56$876,392$749,035$714,155$877,393
57$934,583$754,536$706,878$912,725
58$997,727$759,325$698,375$950,661
59$1,066,297$763,334$688,572$991,462
60$1,140,816$766,493$677,396$1,035,419
61$1,221,856$768,729$664,766$1,082,848
62$1,310,051$769,962$650,601$1,134,103
63$1,406,093$770,107$634,814$1,189,573
64$1,510,748$769,076$617,313$1,249,690
65$1,624,857$766,773$598,006$1,314,928
66$1,749,345$763,098$576,792$1,385,813
67$1,885,232$757,943$553,568$1,462,927
68$2,033,639$751,196$528,225$1,546,911
69$2,195,801$742,735$500,652$1,638,473
70$2,373,077$732,434$470,728$1,738,398
71$2,566,965$720,157$438,332$1,847,549
72$2,779,112$705,762$403,332$1,966,881
73$3,011,333$689,096$365,596$2,097,450
74$3,265,627$669,999$324,981$2,240,420
75$3,544,193$648,301$281,340$2,397,077
76$3,849,455$623,822$234,519$2,568,840
77$4,184,082$596,372$184,358$2,757,277
78$4,551,014$565,750$130,690$2,964,118
79$4,953,488$531,742$73,338$3,191,274
80$5,395,069$494,123$12,120$3,440,851
81$5,879,686$452,655$0$3,715,178
82$6,411,665$407,086$0$4,030,447
83$6,995,772$357,150$0$4,380,066
84$7,637,256$302,566$0$4,764,106
85$8,341,902$243,036$0$5,186,074
86$9,116,078$178,248$0$5,649,836
87$9,966,805$107,869$0$6,159,653
88$10,901,814$31,549$0$6,720,222
89$11,929,623$0$0$7,336,723
90$13,059,617$0$0$8,026,107
91$14,302,136$0$0$8,791,843
92$15,668,570$0$0$9,634,016
93$17,171,471$0$0$10,560,372
94$18,824,665$0$0$11,579,442
95$20,643,389$0$0$12,700,628
96$22,644,429$0$0$13,934,287
97$24,846,281$0$0$15,291,832
98$27,269,323$0$0$16,785,839
99$29,936,011$0$0$18,430,163
100$32,871,085$0$0$20,240,071