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%11.6%
1 years$57,723$57,209$56,707$56,217$55,739$55,365
2 years$28,576$28,043$27,528$27,028$26,542$26,165
3 years$18,861$18,327$17,812$17,317$16,840$16,470
4 years$14,005$13,472$12,963$12,476$12,010$11,652
5 years$11,092$10,562$10,060$9,583$9,130$8,785
6 years$9,151$8,625$8,130$7,663$7,224$6,892
7 years$7,764$7,243$6,756$6,300$5,875$5,556
8 years$6,725$6,209$5,729$5,285$4,874$4,567
9 years$5,917$5,406$4,935$4,502$4,105$3,811
10 years$5,272$4,765$4,302$3,881$3,497$3,216
11 years$4,744$4,242$3,788$3,377$3,008$2,740
12 years$4,304$3,807$3,361$2,962$2,607$2,351
13 years$3,932$3,441$3,003$2,615$2,273$2,029
14 years$3,614$3,128$2,698$2,322$1,992$1,760
15 years$3,338$2,857$2,436$2,070$1,754$1,534
16 years$3,097$2,621$2,209$1,854$1,550$1,341
17 years$2,884$2,414$2,010$1,666$1,375$1,176
18 years$2,696$2,231$1,835$1,501$1,222$1,034
19 years$2,527$2,067$1,680$1,356$1,090$911
20 years$2,376$1,921$1,542$1,228$973$805
21 years$2,239$1,789$1,418$1,115$871$712
22 years$2,114$1,670$1,307$1,014$781$631
23 years$2,001$1,562$1,207$923$701$559
24 years$1,897$1,464$1,116$842$630$497
25 years$1,802$1,374$1,034$769$567$442
26 years$1,714$1,291$959$703$511$393
27 years$1,633$1,215$890$644$460$350
28 years$1,558$1,145$827$590$415$312
29 years$1,488$1,080$770$541$375$278
30 years$1,423$1,020$717$496$339$248
31 years$1,362$964$669$456$306$221
32 years$1,305$912$624$419$277$198
33 years$1,252$864$583$385$251$176
34 years$1,202$819$544$354$227$158
35 years$1,155$777$509$326$206$141
36 years$1,110$737$476$300$186$126
37 years$1,068$700$446$277$169$113
38 years$1,029$665$417$255$153$101
39 years$991$633$391$235$139$90
40 years$956$602$366$217$126$81
41 years$922$573$344$200$114$72
42 years$890$546$322$185$104$65
43 years$859$520$302$171$94$58
44 years$831$496$284$157$85$52
45 years$803$473$267$145$78$46
46 years$777$451$250$134$70$41
47 years$751$430$235$124$64$37
48 years$727$411$221$115$58$33
49 years$704$392$208$106$53$30
50 years$682$375$195$98$48$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $699,000, adding $5,618 every year, while hoping to spend $26,702 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: 62/12/26 Blend
53$699,000$699,000$699,000$699,000
54$776,093$739,046$728,211$818,516
55$826,844$746,848$724,196$855,756
56$881,876$754,138$719,151$892,988
57$941,599$760,862$713,013$933,062
58$1,006,461$766,964$705,718$976,260
59$1,076,957$772,382$697,197$1,022,894
60$1,153,630$777,052$687,377$1,073,308
61$1,237,079$780,906$676,182$1,127,883
62$1,327,961$783,871$663,535$1,187,036
63$1,427,002$785,870$649,352$1,251,232
64$1,534,998$786,819$633,547$1,320,980
65$1,652,827$786,632$616,030$1,396,847
66$1,781,453$785,215$596,705$1,479,454
67$1,921,941$782,470$575,474$1,569,488
68$2,075,460$778,292$552,234$1,667,709
69$2,243,299$772,570$526,875$1,774,953
70$2,426,875$765,186$499,286$1,892,144
71$2,627,752$756,016$469,347$2,020,302
72$2,847,648$744,926$436,935$2,160,553
73$3,088,456$731,776$401,922$2,314,138
74$3,352,264$716,418$364,171$2,482,426
75$3,641,367$698,694$323,542$2,666,930
76$3,958,294$678,438$279,888$2,869,316
77$4,305,831$655,472$233,056$3,091,426
78$4,687,046$629,611$182,884$3,335,288
79$5,105,319$600,656$129,204$3,603,142
80$5,564,371$568,398$71,843$3,897,457
81$6,068,304$532,617$10,617$4,220,959
82$6,621,634$493,078$0$4,576,653
83$7,229,335$449,533$0$4,983,035
84$7,896,890$401,723$0$5,432,709
85$8,630,335$349,370$0$5,926,818
86$9,436,323$292,182$0$6,469,869
87$10,322,180$229,851$0$7,066,829
88$11,295,980$162,052$0$7,723,174
89$12,366,618$88,441$0$8,444,934
90$13,543,892$8,653$0$9,238,761
91$14,838,598$0$0$10,111,981
92$16,262,631$0$0$11,082,928
93$17,829,095$0$0$12,152,307
94$19,552,431$0$0$13,328,838
95$21,448,548$0$0$14,623,390
96$23,534,974$0$0$16,047,939
97$25,831,023$0$0$17,615,681
98$28,357,977$0$0$19,341,155
99$31,139,285$0$0$21,240,379
100$34,200,783$0$0$23,331,008