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%14.9%
1 years$57,971$57,454$56,950$56,459$55,978$54,848
2 years$28,698$28,164$27,646$27,144$26,656$25,523
3 years$18,942$18,405$17,889$17,391$16,912$15,810
4 years$14,065$13,530$13,018$12,529$12,062$11,000
5 years$11,140$10,608$10,103$9,624$9,169$8,151
6 years$9,190$8,662$8,165$7,696$7,255$6,282
7 years$7,798$7,274$6,785$6,327$5,900$4,971
8 years$6,754$6,235$5,754$5,308$4,895$4,010
9 years$5,943$5,429$4,956$4,521$4,122$3,282
10 years$5,294$4,785$4,321$3,897$3,512$2,715
11 years$4,764$4,260$3,804$3,392$3,021$2,265
12 years$4,322$3,824$3,376$2,975$2,618$1,903
13 years$3,949$3,456$3,016$2,627$2,283$1,608
14 years$3,629$3,141$2,710$2,332$2,001$1,364
15 years$3,352$2,869$2,447$2,079$1,762$1,162
16 years$3,110$2,633$2,218$1,862$1,557$993
17 years$2,897$2,424$2,019$1,673$1,381$851
18 years$2,707$2,240$1,843$1,508$1,228$731
19 years$2,538$2,076$1,687$1,362$1,094$629
20 years$2,386$1,929$1,548$1,234$977$542
21 years$2,248$1,797$1,424$1,120$875$468
22 years$2,124$1,678$1,312$1,018$784$404
23 years$2,010$1,569$1,212$927$704$349
24 years$1,906$1,470$1,121$846$633$302
25 years$1,810$1,380$1,038$772$569$262
26 years$1,722$1,297$963$706$513$227
27 years$1,640$1,220$894$646$462$197
28 years$1,565$1,150$831$592$417$171
29 years$1,494$1,085$773$543$377$148
30 years$1,429$1,024$720$498$340$129
31 years$1,368$968$672$458$308$112
32 years$1,311$916$627$421$278$97
33 years$1,257$868$585$387$252$84
34 years$1,207$822$547$356$228$73
35 years$1,160$780$511$328$207$64
36 years$1,115$740$478$302$187$55
37 years$1,073$703$447$278$170$48
38 years$1,033$668$419$256$154$42
39 years$995$635$393$236$139$36
40 years$960$605$368$218$126$32
41 years$926$576$345$201$115$28
42 years$894$548$324$186$104$24
43 years$863$522$304$171$94$21
44 years$834$498$285$158$86$18
45 years$806$475$268$146$78$16
46 years$780$453$251$135$71$14
47 years$755$432$236$125$64$12
48 years$731$413$222$115$58$10
49 years$707$394$209$106$53$9
50 years$685$376$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 $702,000, adding $2,303 every year, while hoping to spend $44,626 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: 45/41/14 Blend
53$702,000$702,000$702,000$702,000
54$775,980$738,774$727,893$807,698
55$807,648$727,492$704,795$818,732
56$841,050$714,161$679,428$825,999
57$876,317$698,635$651,669$832,903
58$913,590$680,757$621,388$839,428
59$953,023$660,361$588,452$845,561
60$994,785$637,272$552,719$851,290
61$1,039,061$611,306$514,042$856,606
62$1,086,050$582,265$472,268$861,501
63$1,135,975$549,943$427,236$865,973
64$1,189,075$514,121$378,779$870,022
65$1,245,613$474,566$326,721$873,655
66$1,305,879$431,033$270,880$876,883
67$1,370,189$383,264$211,064$879,723
68$1,438,888$330,984$147,075$882,200
69$1,512,356$273,903$78,703$884,349
70$1,591,009$211,717$5,732$886,212
71$1,675,303$144,102$0$887,845
72$1,765,738$70,717$0$900,090
73$1,862,863$0$0$913,869
74$1,967,281$0$0$932,427
75$2,079,654$0$0$986,794
76$2,200,708$0$0$1,045,422
77$2,331,240$0$0$1,108,707
78$2,472,128$0$0$1,177,082
79$2,624,334$0$0$1,251,022
80$2,788,916$0$0$1,331,051
81$2,967,038$0$0$1,417,745
82$3,159,979$0$0$1,511,735
83$3,369,144$0$0$1,613,718
84$3,596,080$0$0$1,724,459
85$3,842,486$0$0$1,844,799
86$4,110,234$0$0$1,975,663
87$4,401,380$0$0$2,118,070
88$4,718,188$0$0$2,273,141
89$5,063,148$0$0$2,442,109
90$5,439,001$0$0$2,626,330
91$5,848,762$0$0$2,827,298
92$6,295,751$0$0$3,046,657
93$6,783,620$0$0$3,286,216
94$7,316,392$0$0$3,547,968
95$7,898,493$0$0$3,834,104
96$8,534,798$0$0$4,147,041
97$9,230,671$0$0$4,489,435
98$9,992,020$0$0$4,864,215
99$10,825,352$0$0$5,274,603
100$11,737,829$0$0$5,724,149