Can I retire at age 54 with 706,000?

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 $706,000?

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$58,301$57,782$57,275$56,780$56,297$54,257
2 years$28,862$28,324$27,803$27,298$26,808$24,775
3 years$19,050$18,510$17,991$17,490$17,008$15,046
4 years$14,145$13,607$13,093$12,601$12,130$10,254
5 years$11,203$10,668$10,160$9,679$9,221$7,436
6 years$9,242$8,711$8,211$7,740$7,297$5,603
7 years$7,842$7,316$6,823$6,364$5,934$4,333
8 years$6,793$6,271$5,787$5,338$4,923$3,412
9 years$5,977$5,460$4,984$4,547$4,146$2,723
10 years$5,324$4,813$4,345$3,920$3,532$2,196
11 years$4,791$4,284$3,826$3,411$3,038$1,785
12 years$4,347$3,845$3,395$2,992$2,633$1,459
13 years$3,971$3,475$3,033$2,642$2,296$1,199
14 years$3,650$3,159$2,725$2,345$2,012$989
15 years$3,371$2,886$2,461$2,091$1,772$819
16 years$3,128$2,648$2,231$1,872$1,566$679
17 years$2,913$2,438$2,030$1,682$1,389$565
18 years$2,723$2,253$1,853$1,516$1,235$471
19 years$2,553$2,088$1,697$1,370$1,100$393
20 years$2,399$1,940$1,557$1,241$983$328
21 years$2,261$1,807$1,432$1,126$880$274
22 years$2,136$1,687$1,320$1,024$788$229
23 years$2,021$1,578$1,219$932$708$192
24 years$1,916$1,478$1,127$850$636$161
25 years$1,820$1,387$1,044$777$572$135
26 years$1,731$1,304$968$710$516$113
27 years$1,650$1,227$899$650$465$95
28 years$1,574$1,156$836$596$419$80
29 years$1,503$1,091$778$546$379$67
30 years$1,437$1,030$724$501$342$56
31 years$1,376$974$675$460$309$47
32 years$1,318$922$630$423$280$40
33 years$1,264$873$588$389$253$33
34 years$1,214$827$550$358$229$28
35 years$1,166$785$514$330$208$23
36 years$1,121$745$481$303$188$20
37 years$1,079$707$450$280$171$17
38 years$1,039$672$421$258$155$14
39 years$1,001$639$395$238$140$12
40 years$965$608$370$219$127$10
41 years$931$579$347$202$115$8
42 years$899$551$326$187$105$7
43 years$868$525$305$172$95$6
44 years$839$501$287$159$86$5
45 years$811$477$269$147$78$4
46 years$784$455$253$136$71$3
47 years$759$435$238$125$65$3
48 years$735$415$223$116$59$2
49 years$712$396$210$107$53$2
50 years$689$378$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 $706,000, adding $6,548 every year, while hoping to spend $30,011 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: 41/32/27 Blend
53$706,000$706,000$706,000$706,000
54$784,766$747,348$736,405$810,484
55$832,881$752,037$729,143$834,345
56$884,897$755,949$720,632$856,852
57$941,182$759,016$710,799$880,637
58$1,002,138$761,163$699,565$905,835
59$1,068,207$762,311$686,852$932,598
60$1,139,876$762,376$672,574$961,093
61$1,217,681$761,271$656,643$991,508
62$1,302,211$758,899$638,967$1,024,053
63$1,394,113$755,162$619,448$1,058,958
64$1,494,100$749,952$597,987$1,096,483
65$1,602,956$743,157$574,478$1,136,913
66$1,721,544$734,658$548,809$1,180,569
67$1,850,813$724,328$520,865$1,227,804
68$1,991,807$712,032$490,526$1,279,012
69$2,145,678$697,628$457,665$1,334,630
70$2,313,692$680,966$422,151$1,395,141
71$2,497,240$661,885$383,846$1,461,085
72$2,697,859$640,218$342,605$1,533,057
73$2,917,237$615,785$298,278$1,611,719
74$3,157,233$588,396$250,708$1,697,803
75$3,419,896$557,853$199,732$1,792,123
76$3,707,480$523,942$145,178$1,895,577
77$4,022,468$486,441$86,867$2,009,164
78$4,367,595$445,112$24,612$2,133,986
79$4,745,873$399,705$0$2,271,268
80$5,160,618$349,956$0$2,434,410
81$5,615,482$295,585$0$2,621,211
82$6,114,490$236,298$0$2,826,293
83$6,662,072$171,781$0$3,051,551
84$7,263,111$101,706$0$3,299,080
85$7,922,984$25,725$0$3,571,193
86$8,647,613$0$0$3,870,442
87$9,443,524$0$0$4,219,550
88$10,317,904$0$0$4,613,124
89$11,278,672$0$0$5,045,684
90$12,334,551$0$0$5,521,169
91$13,495,151$0$0$6,043,918
92$14,771,060$0$0$6,618,716
93$16,173,944$0$0$7,250,829
94$17,716,653$0$0$7,946,064
95$19,413,346$0$0$8,710,816
96$21,279,625$0$0$9,552,132
97$23,332,677$0$0$10,477,775
98$25,591,439$0$0$11,496,301
99$28,076,779$0$0$12,617,135
100$30,811,687$0$0$13,850,663