Can I retire at age 54 with 702,000?

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 $702,000?

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$57,971$57,454$56,950$56,459$55,978$53,843
2 years$28,698$28,164$27,646$27,144$26,656$24,530
3 years$18,942$18,405$17,889$17,391$16,912$14,861
4 years$14,065$13,530$13,018$12,529$12,062$10,103
5 years$11,140$10,608$10,103$9,624$9,169$7,307
6 years$9,190$8,662$8,165$7,696$7,255$5,491
7 years$7,798$7,274$6,785$6,327$5,900$4,234
8 years$6,754$6,235$5,754$5,308$4,895$3,324
9 years$5,943$5,429$4,956$4,521$4,122$2,645
10 years$5,294$4,785$4,321$3,897$3,512$2,126
11 years$4,764$4,260$3,804$3,392$3,021$1,722
12 years$4,322$3,824$3,376$2,975$2,618$1,404
13 years$3,949$3,456$3,016$2,627$2,283$1,149
14 years$3,629$3,141$2,710$2,332$2,001$945
15 years$3,352$2,869$2,447$2,079$1,762$779
16 years$3,110$2,633$2,218$1,862$1,557$644
17 years$2,897$2,424$2,019$1,673$1,381$534
18 years$2,707$2,240$1,843$1,508$1,228$443
19 years$2,538$2,076$1,687$1,362$1,094$368
20 years$2,386$1,929$1,548$1,234$977$306
21 years$2,248$1,797$1,424$1,120$875$255
22 years$2,124$1,678$1,312$1,018$784$213
23 years$2,010$1,569$1,212$927$704$177
24 years$1,906$1,470$1,121$846$633$148
25 years$1,810$1,380$1,038$772$569$124
26 years$1,722$1,297$963$706$513$103
27 years$1,640$1,220$894$646$462$86
28 years$1,565$1,150$831$592$417$72
29 years$1,494$1,085$773$543$377$60
30 years$1,429$1,024$720$498$340$50
31 years$1,368$968$672$458$308$42
32 years$1,311$916$627$421$278$35
33 years$1,257$868$585$387$252$29
34 years$1,207$822$547$356$228$25
35 years$1,160$780$511$328$207$21
36 years$1,115$740$478$302$187$17
37 years$1,073$703$447$278$170$14
38 years$1,033$668$419$256$154$12
39 years$995$635$393$236$139$10
40 years$960$605$368$218$126$8
41 years$926$576$345$201$115$7
42 years$894$548$324$186$104$6
43 years$863$522$304$171$94$5
44 years$834$498$285$158$86$4
45 years$806$475$268$146$78$3
46 years$780$453$251$135$71$3
47 years$755$432$236$125$64$2
48 years$731$413$222$115$58$2
49 years$707$394$209$106$53$2
50 years$685$376$196$98$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $702,000, adding $5,231 every year, while hoping to spend $26,731 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: 67/18/15 Blend
53$702,000$702,000$702,000$702,000
54$779,000$741,794$730,913$828,098
55$830,016$749,700$726,957$869,426
56$885,340$757,098$721,972$910,972
57$945,383$763,934$715,897$955,729
58$1,010,598$770,152$708,664$1,004,011
59$1,081,481$775,691$700,207$1,056,162
60$1,158,579$780,488$690,451$1,112,564
61$1,242,496$784,473$679,323$1,173,636
62$1,333,893$787,575$666,742$1,239,842
63$1,433,499$789,715$652,627$1,311,693
64$1,542,117$790,812$636,891$1,389,752
65$1,660,629$790,778$619,444$1,474,640
66$1,790,008$789,521$600,190$1,567,044
67$1,931,324$786,943$579,031$1,667,720
68$2,085,754$782,938$555,864$1,777,501
69$2,254,595$777,396$530,579$1,897,307
70$2,439,274$770,199$503,065$2,028,153
71$2,641,365$761,224$473,202$2,171,157
72$2,862,597$750,336$440,867$2,327,554
73$3,104,877$737,398$405,931$2,498,705
74$3,370,304$722,260$368,259$2,686,110
75$3,661,189$704,765$327,710$2,891,425
76$3,980,078$684,747$284,137$3,116,477
77$4,329,776$662,029$237,385$3,363,277
78$4,713,371$636,426$187,295$3,634,046
79$5,134,264$607,740$133,699$3,931,233
80$5,596,202$575,763$76,421$4,257,538
81$6,103,313$540,273$15,279$4,615,938
82$6,660,142$501,038$0$5,009,717
83$7,271,698$457,810$0$5,450,492
84$7,943,498$410,329$0$5,937,388
85$8,681,619$358,319$0$6,472,391
86$9,492,756$301,490$0$7,060,391
87$10,384,287$239,532$0$7,706,774
88$11,364,336$172,121$0$8,417,479
89$12,441,858$98,914$0$9,199,052
90$13,626,715$19,549$0$10,058,706
91$14,929,774$0$0$11,004,393
92$16,363,010$0$0$12,058,020
93$17,939,613$0$0$13,221,350
94$19,674,118$0$0$14,501,243
95$21,582,540$0$0$15,909,521
96$23,682,523$0$0$17,459,212
97$25,993,509$0$0$19,164,670
98$28,536,920$0$0$21,041,709
99$31,336,359$0$0$23,107,757
100$34,417,834$0$0$25,382,016