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%17.8%
1 years$58,053$57,536$57,031$56,539$56,058$54,285
2 years$28,739$28,204$27,685$27,182$26,694$24,924
3 years$18,969$18,432$17,914$17,416$16,936$15,224
4 years$14,085$13,549$13,037$12,547$12,079$10,439
5 years$11,155$10,623$10,117$9,637$9,182$7,618
6 years$9,203$8,674$8,176$7,707$7,266$5,778
7 years$7,809$7,285$6,794$6,336$5,909$4,499
8 years$6,764$6,244$5,762$5,316$4,902$3,568
9 years$5,951$5,437$4,963$4,528$4,128$2,869
10 years$5,302$4,792$4,327$3,903$3,517$2,331
11 years$4,771$4,266$3,809$3,397$3,025$1,909
12 years$4,328$3,829$3,381$2,979$2,621$1,574
13 years$3,954$3,460$3,020$2,630$2,286$1,304
14 years$3,634$3,145$2,714$2,335$2,004$1,085
15 years$3,357$2,873$2,450$2,082$1,764$905
16 years$3,115$2,636$2,221$1,864$1,559$758
17 years$2,901$2,428$2,021$1,675$1,383$636
18 years$2,711$2,244$1,845$1,510$1,229$534
19 years$2,542$2,079$1,689$1,364$1,096$450
20 years$2,389$1,932$1,550$1,236$979$379
21 years$2,252$1,800$1,426$1,121$876$320
22 years$2,127$1,680$1,314$1,020$785$270
23 years$2,013$1,571$1,214$928$705$229
24 years$1,908$1,472$1,122$847$633$193
25 years$1,812$1,382$1,039$773$570$164
26 years$1,724$1,298$964$707$513$139
27 years$1,643$1,222$895$647$463$117
28 years$1,567$1,151$832$593$418$99
29 years$1,497$1,086$774$544$377$84
30 years$1,431$1,026$721$499$341$71
31 years$1,370$970$673$458$308$61
32 years$1,313$918$627$421$279$51
33 years$1,259$869$586$387$252$44
34 years$1,209$824$547$356$228$37
35 years$1,161$781$512$328$207$31
36 years$1,117$741$479$302$187$27
37 years$1,074$704$448$278$170$23
38 years$1,035$669$420$257$154$19
39 years$997$636$393$237$140$16
40 years$961$605$369$218$127$14
41 years$927$576$346$201$115$12
42 years$895$549$324$186$104$10
43 years$864$523$304$172$95$8
44 years$835$499$286$158$86$7
45 years$807$475$268$146$78$6
46 years$781$454$252$135$71$5
47 years$756$433$237$125$64$4
48 years$732$413$222$115$58$4
49 years$708$395$209$107$53$3
50 years$686$377$196$99$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $703,000, adding $4,460 every year, while hoping to spend $47,704 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: 61/14/25 Blend
53$703,000$703,000$703,000$703,000
54$779,306$742,047$731,151$821,397
55$808,039$727,651$704,888$836,100
56$838,104$710,951$676,146$846,555
57$869,585$691,782$644,792$856,929
58$902,577$669,974$610,687$867,224
59$937,179$645,342$573,684$877,442
60$973,501$617,693$533,632$887,589
61$1,011,661$586,822$490,371$897,674
62$1,051,787$552,513$443,735$907,709
63$1,094,019$514,536$393,550$917,708
64$1,138,510$472,650$339,635$927,693
65$1,185,425$426,597$281,800$937,687
66$1,234,945$376,107$219,848$947,723
67$1,287,268$320,895$153,571$957,837
68$1,342,608$260,657$82,754$968,073
69$1,401,200$195,075$7,172$978,485
70$1,463,300$123,811$0$989,135
71$1,529,188$46,510$0$1,019,698
72$1,599,171$0$0$1,053,973
73$1,673,583$0$0$1,095,941
74$1,752,791$0$0$1,148,270
75$1,837,196$0$0$1,204,064
76$1,927,238$0$0$1,263,618
77$2,023,397$0$0$1,327,253
78$2,126,201$0$0$1,395,323
79$2,236,229$0$0$1,468,216
80$2,354,113$0$0$1,546,357
81$2,480,550$0$0$1,630,213
82$2,616,303$0$0$1,720,295
83$2,762,209$0$0$1,817,165
84$2,919,187$0$0$1,921,439
85$3,088,246$0$0$2,033,796
86$3,270,496$0$0$2,154,979
87$3,467,153$0$0$2,285,806
88$3,679,556$0$0$2,427,173
89$3,909,175$0$0$2,580,069
90$4,157,626$0$0$2,745,579
91$4,426,684$0$0$2,924,893
92$4,718,304$0$0$3,119,325
93$5,034,631$0$0$3,330,316
94$5,378,029$0$0$3,559,452
95$5,751,094$0$0$3,808,477
96$6,156,683$0$0$4,079,310
97$6,597,940$0$0$4,374,063
98$7,078,324$0$0$4,695,059
99$7,601,640$0$0$5,044,853
100$8,172,076$0$0$5,426,260