Can I retire at age 54 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$57,805$57,290$56,788$56,298$55,819$54,737
2 years$28,617$28,084$27,567$27,066$26,580$25,495
3 years$18,888$18,353$17,838$17,342$16,864$15,808
4 years$14,025$13,491$12,981$12,494$12,027$11,010
5 years$11,108$10,577$10,074$9,596$9,143$8,167
6 years$9,164$8,637$8,141$7,674$7,235$6,300
7 years$7,776$7,254$6,765$6,309$5,884$4,992
8 years$6,735$6,218$5,738$5,293$4,881$4,032
9 years$5,926$5,414$4,942$4,508$4,111$3,303
10 years$5,279$4,772$4,308$3,886$3,502$2,736
11 years$4,750$4,248$3,793$3,382$3,012$2,285
12 years$4,310$3,813$3,366$2,967$2,610$1,923
13 years$3,938$3,446$3,008$2,619$2,276$1,626
14 years$3,619$3,132$2,702$2,325$1,995$1,382
15 years$3,343$2,861$2,440$2,073$1,757$1,179
16 years$3,101$2,625$2,212$1,857$1,553$1,009
17 years$2,889$2,418$2,013$1,668$1,377$866
18 years$2,700$2,234$1,837$1,503$1,224$745
19 years$2,531$2,070$1,682$1,358$1,091$642
20 years$2,379$1,924$1,544$1,230$975$554
21 years$2,242$1,792$1,420$1,117$872$478
22 years$2,117$1,673$1,309$1,015$782$414
23 years$2,004$1,565$1,208$925$702$359
24 years$1,900$1,466$1,118$843$631$311
25 years$1,805$1,376$1,035$770$568$270
26 years$1,717$1,293$960$704$511$234
27 years$1,635$1,217$891$645$461$203
28 years$1,560$1,147$829$591$416$177
29 years$1,490$1,082$771$542$376$154
30 years$1,425$1,021$718$497$339$134
31 years$1,364$966$670$456$307$116
32 years$1,307$914$625$419$278$101
33 years$1,254$865$583$386$251$88
34 years$1,203$820$545$355$227$77
35 years$1,156$778$510$327$206$67
36 years$1,112$738$477$301$187$58
37 years$1,070$701$446$277$169$51
38 years$1,030$666$418$256$153$44
39 years$993$634$391$236$139$38
40 years$957$603$367$217$126$33
41 years$923$574$344$201$114$29
42 years$891$547$323$185$104$25
43 years$861$521$303$171$94$22
44 years$832$496$284$158$86$19
45 years$804$473$267$146$78$17
46 years$778$452$251$135$70$15
47 years$753$431$236$124$64$13
48 years$728$411$221$115$58$11
49 years$705$393$208$106$53$10
50 years$683$375$196$98$48$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $700,000, adding $3,870 every year, while hoping to spend $57,922 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: 48/47/5 Blend
53$700,000$700,000$700,000$700,000
54$775,392$738,292$727,442$811,448
55$792,853$712,840$690,183$811,044
56$810,155$684,199$649,734$804,128
57$827,218$652,152$605,928$795,238
58$843,956$616,470$558,588$784,205
59$860,271$576,909$507,533$770,849
60$876,053$533,211$452,569$754,974
61$891,177$485,105$393,497$736,371
62$905,506$432,304$330,108$714,814
63$918,884$374,503$262,183$690,061
64$931,139$311,383$189,495$661,850
65$942,078$242,603$111,805$629,900
66$951,484$167,805$28,865$593,908
67$959,120$86,612$0$553,547
68$964,719$0$0$511,647
69$967,982$0$0$467,211
70$968,582$0$0$466,116
71$966,152$0$0$463,375
72$960,286$0$0$458,770
73$950,532$0$0$452,061
74$936,391$0$0$442,983
75$917,307$0$0$431,240
76$892,667$0$0$416,506
77$861,791$0$0$398,420
78$823,924$0$0$376,581
79$778,234$0$0$350,546
80$723,796$0$0$319,826
81$659,591$0$0$283,878
82$584,488$0$0$242,104
83$497,240$0$0$193,841
84$396,467$0$0$138,356
85$280,642$0$0$74,842
86$148,082$0$0$2,404
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0