Can I retire at age 54 with 703,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%20%
1 years$58,053$57,536$57,031$56,539$56,058$53,813
2 years$28,739$28,204$27,685$27,182$26,694$24,460
3 years$18,969$18,432$17,914$17,416$16,936$14,784
4 years$14,085$13,549$13,037$12,547$12,079$10,025
5 years$11,155$10,623$10,117$9,637$9,182$7,231
6 years$9,203$8,674$8,176$7,707$7,266$5,419
7 years$7,809$7,285$6,794$6,336$5,909$4,166
8 years$6,764$6,244$5,762$5,316$4,902$3,262
9 years$5,951$5,437$4,963$4,528$4,128$2,587
10 years$5,302$4,792$4,327$3,903$3,517$2,073
11 years$4,771$4,266$3,809$3,397$3,025$1,674
12 years$4,328$3,829$3,381$2,979$2,621$1,360
13 years$3,954$3,460$3,020$2,630$2,286$1,110
14 years$3,634$3,145$2,714$2,335$2,004$909
15 years$3,357$2,873$2,450$2,082$1,764$747
16 years$3,115$2,636$2,221$1,864$1,559$615
17 years$2,901$2,428$2,021$1,675$1,383$508
18 years$2,711$2,244$1,845$1,510$1,229$420
19 years$2,542$2,079$1,689$1,364$1,096$348
20 years$2,389$1,932$1,550$1,236$979$288
21 years$2,252$1,800$1,426$1,121$876$239
22 years$2,127$1,680$1,314$1,020$785$199
23 years$2,013$1,571$1,214$928$705$165
24 years$1,908$1,472$1,122$847$633$137
25 years$1,812$1,382$1,039$773$570$114
26 years$1,724$1,298$964$707$513$95
27 years$1,643$1,222$895$647$463$79
28 years$1,567$1,151$832$593$418$66
29 years$1,497$1,086$774$544$377$55
30 years$1,431$1,026$721$499$341$46
31 years$1,370$970$673$458$308$38
32 years$1,313$918$627$421$279$32
33 years$1,259$869$586$387$252$26
34 years$1,209$824$547$356$228$22
35 years$1,161$781$512$328$207$18
36 years$1,117$741$479$302$187$15
37 years$1,074$704$448$278$170$13
38 years$1,035$669$420$257$154$11
39 years$997$636$393$237$140$9
40 years$961$605$369$218$127$7
41 years$927$576$346$201$115$6
42 years$895$549$324$186$104$5
43 years$864$523$304$172$95$4
44 years$835$499$286$158$86$4
45 years$807$475$268$146$78$3
46 years$781$454$252$135$71$2
47 years$756$433$237$125$64$2
48 years$732$413$222$115$58$2
49 years$708$395$209$107$53$1
50 years$686$377$196$99$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $703,000, adding $6,262 every year, while hoping to spend $20,867 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: 66/9/25 Blend
53$703,000$703,000$703,000$703,000
54$781,165$743,906$733,010$827,263
55$838,642$758,155$735,363$873,316
56$901,282$772,403$737,096$920,724
57$969,589$786,628$738,166$972,083
58$1,044,120$800,805$738,527$1,027,782
59$1,125,485$814,910$738,133$1,088,252
60$1,214,358$828,914$736,934$1,153,967
61$1,311,480$842,788$734,878$1,225,449
62$1,417,665$856,499$731,911$1,303,275
63$1,533,812$870,013$727,975$1,388,080
64$1,660,910$883,292$723,011$1,480,564
65$1,800,048$896,298$716,957$1,581,499
66$1,952,423$908,988$709,746$1,691,736
67$2,119,358$921,315$701,309$1,812,214
68$2,302,305$933,232$691,576$1,943,966
69$2,502,865$944,686$680,469$2,088,134
70$2,722,804$955,622$667,911$2,245,973
71$2,964,062$965,980$653,819$2,418,872
72$3,228,780$975,697$638,105$2,608,356
73$3,519,315$984,705$620,681$2,816,111
74$3,838,262$992,932$601,450$3,043,993
75$4,188,480$1,000,301$580,315$3,294,050
76$4,573,121$1,006,731$557,170$3,568,538
77$4,995,653$1,012,135$531,910$3,869,945
78$5,459,900$1,016,420$504,419$4,201,013
79$5,970,073$1,019,488$474,580$4,564,767
80$6,530,811$1,021,234$442,269$4,964,537
81$7,147,226$1,021,546$407,358$5,403,999
82$7,824,949$1,020,308$369,710$5,887,202
83$8,570,184$1,017,393$329,185$6,418,610
84$9,389,766$1,012,669$285,637$7,003,144
85$10,291,226$1,005,994$238,910$7,646,228
86$11,282,862$997,219$188,844$8,353,843
87$12,373,816$986,184$135,272$9,132,579
88$13,574,160$972,722$78,019$9,989,700
89$14,894,993$956,654$16,901$10,933,216
90$16,348,544$937,791$0$11,971,954
91$17,948,286$915,934$0$13,128,532
92$19,709,065$890,869$0$14,406,435
93$21,647,241$862,373$0$15,813,026
94$23,780,838$830,207$0$17,361,392
95$26,129,718$794,122$0$19,065,955
96$28,715,765$753,850$0$20,942,605
97$31,563,095$709,110$0$23,008,857
98$34,698,280$659,606$0$25,284,007
99$38,150,599$605,021$0$27,789,321
100$41,952,318$545,025$0$30,548,235