Can I retire at age 54 with 703,000?

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 $703,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$58,053$57,536$57,031$56,539$56,058$54,026
2 years$28,739$28,204$27,685$27,182$26,694$24,670
3 years$18,969$18,432$17,914$17,416$16,936$14,982
4 years$14,085$13,549$13,037$12,547$12,079$10,210
5 years$11,155$10,623$10,117$9,637$9,182$7,404
6 years$9,203$8,674$8,176$7,707$7,266$5,580
7 years$7,809$7,285$6,794$6,336$5,909$4,314
8 years$6,764$6,244$5,762$5,316$4,902$3,397
9 years$5,951$5,437$4,963$4,528$4,128$2,712
10 years$5,302$4,792$4,327$3,903$3,517$2,187
11 years$4,771$4,266$3,809$3,397$3,025$1,777
12 years$4,328$3,829$3,381$2,979$2,621$1,453
13 years$3,954$3,460$3,020$2,630$2,286$1,194
14 years$3,634$3,145$2,714$2,335$2,004$985
15 years$3,357$2,873$2,450$2,082$1,764$815
16 years$3,115$2,636$2,221$1,864$1,559$677
17 years$2,901$2,428$2,021$1,675$1,383$563
18 years$2,711$2,244$1,845$1,510$1,229$469
19 years$2,542$2,079$1,689$1,364$1,096$391
20 years$2,389$1,932$1,550$1,236$979$327
21 years$2,252$1,800$1,426$1,121$876$273
22 years$2,127$1,680$1,314$1,020$785$229
23 years$2,013$1,571$1,214$928$705$191
24 years$1,908$1,472$1,122$847$633$160
25 years$1,812$1,382$1,039$773$570$134
26 years$1,724$1,298$964$707$513$113
27 years$1,643$1,222$895$647$463$95
28 years$1,567$1,151$832$593$418$79
29 years$1,497$1,086$774$544$377$67
30 years$1,431$1,026$721$499$341$56
31 years$1,370$970$673$458$308$47
32 years$1,313$918$627$421$279$39
33 years$1,259$869$586$387$252$33
34 years$1,209$824$547$356$228$28
35 years$1,161$781$512$328$207$23
36 years$1,117$741$479$302$187$20
37 years$1,074$704$448$278$170$16
38 years$1,035$669$420$257$154$14
39 years$997$636$393$237$140$12
40 years$961$605$369$218$127$10
41 years$927$576$346$201$115$8
42 years$895$549$324$186$104$7
43 years$864$523$304$172$95$6
44 years$835$499$286$158$86$5
45 years$807$475$268$146$78$4
46 years$781$454$252$135$71$3
47 years$756$433$237$125$64$3
48 years$732$413$222$115$58$2
49 years$708$395$209$107$53$2
50 years$686$377$196$99$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $703,000, adding $3,213 every year, while hoping to spend $24,941 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: 66/12/22 Blend
53$703,000$703,000$703,000$703,000
54$778,020$740,761$729,865$824,799
55$830,841$750,521$727,778$866,376
56$888,214$759,924$724,786$908,675
57$950,577$768,925$720,831$954,336
58$1,018,411$777,478$715,854$1,003,690
59$1,092,247$785,532$709,793$1,057,102
60$1,172,668$793,035$702,583$1,114,975
61$1,260,315$799,929$694,155$1,177,753
62$1,355,896$806,154$684,438$1,245,926
63$1,460,188$811,646$673,356$1,320,035
64$1,574,045$816,335$660,833$1,400,675
65$1,698,412$820,149$646,784$1,488,504
66$1,834,323$823,011$631,125$1,584,247
67$1,982,922$824,836$613,766$1,688,704
68$2,145,466$825,538$594,612$1,802,756
69$2,323,337$825,024$573,566$1,927,376
70$2,518,062$823,194$550,524$2,063,638
71$2,731,317$819,943$525,380$2,212,723
72$2,964,951$815,160$498,019$2,375,937
73$3,220,999$808,726$468,327$2,554,719
74$3,501,703$800,516$436,178$2,750,656
75$3,809,533$790,397$401,446$2,965,497
76$4,147,207$778,228$363,996$3,201,172
77$4,517,720$763,859$323,687$3,459,809
78$4,924,371$747,133$280,375$3,743,755
79$5,370,796$727,881$233,906$4,055,597
80$5,860,995$705,925$184,121$4,398,187
81$6,399,381$681,079$130,852$4,774,672
82$6,990,809$653,144$73,927$5,188,521
83$7,640,632$621,908$13,164$5,643,558
84$8,354,744$587,149$0$6,144,000
85$9,139,641$548,633$0$6,706,628
86$10,002,478$506,110$0$7,328,523
87$10,951,139$459,317$0$8,012,291
88$11,994,307$407,975$0$8,764,215
89$13,141,552$351,792$0$9,591,215
90$14,403,417$290,457$0$10,500,922
91$15,791,518$223,641$0$11,501,741
92$17,318,651$150,998$0$12,602,936
93$18,998,918$72,162$0$13,814,718
94$20,847,857$0$0$15,148,337
95$22,882,585$0$0$16,617,942
96$25,121,965$0$0$18,245,900
97$27,586,781$0$0$20,037,797
98$30,299,932$0$0$22,010,288
99$33,286,653$0$0$24,181,725
100$36,574,748$0$0$26,572,330