Can I retire at age 54 with 705,000?

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 $705,000?

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$58,218$57,700$57,194$56,700$56,218$55,083
2 years$28,821$28,284$27,764$27,260$26,770$25,632
3 years$19,023$18,484$17,965$17,465$16,984$15,878
4 years$14,125$13,588$13,074$12,583$12,113$11,047
5 years$11,187$10,653$10,146$9,665$9,208$8,186
6 years$9,229$8,699$8,199$7,729$7,286$6,308
7 years$7,831$7,305$6,814$6,354$5,926$4,993
8 years$6,783$6,262$5,779$5,331$4,916$4,028
9 years$5,968$5,452$4,977$4,541$4,140$3,296
10 years$5,317$4,806$4,339$3,914$3,527$2,726
11 years$4,784$4,278$3,820$3,406$3,034$2,275
12 years$4,341$3,840$3,390$2,988$2,629$1,911
13 years$3,966$3,470$3,029$2,638$2,292$1,614
14 years$3,645$3,154$2,722$2,342$2,010$1,370
15 years$3,366$2,882$2,457$2,088$1,769$1,167
16 years$3,123$2,644$2,228$1,870$1,564$997
17 years$2,909$2,435$2,027$1,680$1,387$855
18 years$2,719$2,250$1,851$1,514$1,233$734
19 years$2,549$2,085$1,694$1,368$1,099$631
20 years$2,396$1,938$1,555$1,239$982$544
21 years$2,258$1,805$1,430$1,124$878$470
22 years$2,133$1,685$1,318$1,022$787$406
23 years$2,018$1,576$1,217$931$707$351
24 years$1,914$1,476$1,126$849$635$304
25 years$1,818$1,385$1,042$776$572$263
26 years$1,729$1,302$967$709$515$228
27 years$1,647$1,225$898$649$464$198
28 years$1,571$1,155$835$595$419$171
29 years$1,501$1,089$777$545$378$149
30 years$1,435$1,029$723$501$342$129
31 years$1,374$973$674$460$309$112
32 years$1,316$920$629$422$279$98
33 years$1,263$871$588$388$253$85
34 years$1,212$826$549$357$229$74
35 years$1,164$783$513$329$207$64
36 years$1,120$744$480$303$188$56
37 years$1,077$706$449$279$170$48
38 years$1,037$671$421$257$154$42
39 years$1,000$638$394$237$140$37
40 years$964$607$370$219$127$32
41 years$930$578$347$202$115$28
42 years$898$550$325$186$105$24
43 years$867$524$305$172$95$21
44 years$838$500$286$159$86$18
45 years$810$477$269$147$78$16
46 years$783$455$253$136$71$14
47 years$758$434$237$125$64$12
48 years$734$414$223$116$59$10
49 years$710$396$210$107$53$9
50 years$688$378$197$99$48$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $705,000, adding $2,041 every year, while hoping to spend $43,836 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: 32/46/22 Blend
53$705,000$705,000$705,000$705,000
54$779,015$741,650$730,723$798,601
55$811,834$731,350$708,561$803,214
56$846,530$719,076$684,187$804,076
57$883,251$704,685$657,482$804,104
58$922,153$688,025$628,318$803,250
59$963,411$668,937$596,565$801,470
60$1,007,214$647,250$562,086$798,716
61$1,053,770$622,785$524,735$794,943
62$1,103,304$595,351$484,364$790,105
63$1,156,066$564,748$440,814$784,155
64$1,212,326$530,762$393,923$777,052
65$1,272,383$493,169$343,519$768,751
66$1,336,562$451,730$289,423$759,213
67$1,405,220$406,194$231,448$748,399
68$1,478,751$356,295$169,399$736,276
69$1,557,582$301,753$103,073$722,813
70$1,642,187$242,270$32,257$707,985
71$1,733,081$177,532$0$691,774
72$1,830,834$107,210$0$684,334
73$1,936,068$30,952$0$684,236
74$2,049,468$0$0$683,963
75$2,171,787$0$0$709,715
76$2,303,851$0$0$754,518
77$2,446,566$0$0$803,021
78$2,600,933$0$0$855,575
79$2,768,046$0$0$912,565
80$2,949,112$0$0$974,414
81$3,145,457$0$0$1,041,588
82$3,358,538$0$0$1,114,599
83$3,589,960$0$0$1,194,010
84$3,841,485$0$0$1,280,441
85$4,115,054$0$0$1,374,574
86$4,412,802$0$0$1,477,161
87$4,737,077$0$0$1,589,026
88$5,090,466$0$0$1,711,078
89$5,475,811$0$0$1,844,320
90$5,896,244$0$0$1,989,851
91$6,355,211$0$0$2,148,885
92$6,856,505$0$0$2,322,757
93$7,404,304$0$0$2,512,936
94$8,003,203$0$0$2,721,041
95$8,658,265$0$0$2,948,854
96$9,375,064$0$0$3,198,338
97$10,159,736$0$0$3,471,653
98$11,019,040$0$0$3,771,179
99$11,960,418$0$0$4,099,537
100$12,992,066$0$0$4,459,614