Can I retire at age 54 with 704,000?

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 $704,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$58,136$57,618$57,113$56,619$56,138$54,039
2 years$28,780$28,244$27,725$27,221$26,732$24,641
3 years$18,996$18,458$17,940$17,441$16,960$14,943
4 years$14,105$13,568$13,055$12,565$12,096$10,169
5 years$11,171$10,638$10,132$9,651$9,195$7,362
6 years$9,216$8,687$8,188$7,718$7,276$5,539
7 years$7,820$7,295$6,804$6,345$5,917$4,275
8 years$6,773$6,253$5,770$5,323$4,909$3,361
9 years$5,960$5,444$4,970$4,534$4,134$2,678
10 years$5,309$4,799$4,333$3,908$3,522$2,155
11 years$4,777$4,272$3,815$3,401$3,029$1,748
12 years$4,335$3,835$3,385$2,984$2,625$1,426
13 years$3,960$3,465$3,025$2,634$2,289$1,170
14 years$3,639$3,150$2,718$2,338$2,007$963
15 years$3,362$2,877$2,454$2,085$1,767$795
16 years$3,119$2,640$2,225$1,867$1,562$659
17 years$2,905$2,431$2,024$1,678$1,385$546
18 years$2,715$2,247$1,848$1,512$1,231$454
19 years$2,545$2,082$1,692$1,366$1,097$378
20 years$2,393$1,935$1,553$1,237$980$315
21 years$2,255$1,802$1,428$1,123$877$263
22 years$2,130$1,682$1,316$1,021$786$219
23 years$2,015$1,573$1,215$930$706$183
24 years$1,911$1,474$1,124$848$634$153
25 years$1,815$1,384$1,041$774$571$128
26 years$1,727$1,300$965$708$514$107
27 years$1,645$1,224$897$648$464$90
28 years$1,569$1,153$833$594$418$75
29 years$1,499$1,088$776$545$378$63
30 years$1,433$1,027$722$500$341$53
31 years$1,372$971$673$459$309$44
32 years$1,314$919$628$422$279$37
33 years$1,261$870$587$388$253$31
34 years$1,210$825$548$357$229$26
35 years$1,163$782$513$329$207$22
36 years$1,118$743$479$303$188$18
37 years$1,076$705$449$279$170$15
38 years$1,036$670$420$257$154$13
39 years$998$637$394$237$140$11
40 years$962$606$369$219$127$9
41 years$929$577$346$202$115$8
42 years$896$550$325$186$104$6
43 years$866$524$305$172$95$5
44 years$836$499$286$159$86$4
45 years$809$476$268$146$78$4
46 years$782$454$252$135$71$3
47 years$757$433$237$125$64$3
48 years$733$414$223$116$58$2
49 years$709$395$209$107$53$2
50 years$687$377$197$99$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $704,000, adding $3,358 every year, while hoping to spend $50,182 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: 56/33/11 Blend
53$704,000$704,000$704,000$704,000
54$779,272$741,960$731,048$820,591
55$805,364$724,923$702,145$831,886
56$832,436$705,369$670,591$838,366
57$860,535$683,122$636,246$844,234
58$889,710$657,995$598,961$849,439
59$920,015$629,791$558,581$853,929
60$951,507$598,302$514,944$857,649
61$984,247$563,305$467,881$860,539
62$1,018,301$524,568$417,215$862,541
63$1,053,739$481,843$362,763$863,591
64$1,090,635$434,868$304,331$863,622
65$1,129,072$383,369$241,718$862,568
66$1,169,136$327,053$174,715$860,356
67$1,210,921$265,611$103,100$856,914
68$1,254,528$198,719$26,647$852,165
69$1,300,065$126,032$0$846,030
70$1,347,651$47,186$0$844,876
71$1,397,412$0$0$845,928
72$1,449,487$0$0$859,872
73$1,504,024$0$0$892,436
74$1,561,184$0$0$926,586
75$1,621,143$0$0$962,426
76$1,684,090$0$0$1,000,075
77$1,750,232$0$0$1,039,657
78$1,819,792$0$0$1,081,310
79$1,893,016$0$0$1,125,184
80$1,970,168$0$0$1,171,440
81$2,051,537$0$0$1,220,257
82$2,137,439$0$0$1,271,826
83$2,228,218$0$0$1,326,360
84$2,324,247$0$0$1,384,087
85$2,425,938$0$0$1,445,259
86$2,533,736$0$0$1,510,151
87$2,648,131$0$0$1,579,062
88$2,769,657$0$0$1,652,321
89$2,898,897$0$0$1,730,286
90$3,036,493$0$0$1,813,350
91$3,183,144$0$0$1,901,945
92$3,339,616$0$0$1,996,540
93$3,506,750$0$0$2,097,653
94$3,685,465$0$0$2,205,849
95$3,876,773$0$0$2,321,750
96$4,081,778$0$0$2,446,037
97$4,301,696$0$0$2,579,456
98$4,537,857$0$0$2,722,827
99$4,791,725$0$0$2,877,050
100$5,064,905$0$0$3,043,114