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%12.7%
1 years$58,301$57,782$57,275$56,780$56,297$55,663
2 years$28,862$28,324$27,803$27,298$26,808$26,170
3 years$19,050$18,510$17,991$17,490$17,008$16,385
4 years$14,145$13,607$13,093$12,601$12,130$11,528
5 years$11,203$10,668$10,160$9,679$9,221$8,641
6 years$9,242$8,711$8,211$7,740$7,297$6,739
7 years$7,842$7,316$6,823$6,364$5,934$5,400
8 years$6,793$6,271$5,787$5,338$4,923$4,411
9 years$5,977$5,460$4,984$4,547$4,146$3,657
10 years$5,324$4,813$4,345$3,920$3,532$3,066
11 years$4,791$4,284$3,826$3,411$3,038$2,594
12 years$4,347$3,845$3,395$2,992$2,633$2,210
13 years$3,971$3,475$3,033$2,642$2,296$1,894
14 years$3,650$3,159$2,725$2,345$2,012$1,632
15 years$3,371$2,886$2,461$2,091$1,772$1,411
16 years$3,128$2,648$2,231$1,872$1,566$1,225
17 years$2,913$2,438$2,030$1,682$1,389$1,066
18 years$2,723$2,253$1,853$1,516$1,235$930
19 years$2,553$2,088$1,697$1,370$1,100$813
20 years$2,399$1,940$1,557$1,241$983$712
21 years$2,261$1,807$1,432$1,126$880$625
22 years$2,136$1,687$1,320$1,024$788$549
23 years$2,021$1,578$1,219$932$708$483
24 years$1,916$1,478$1,127$850$636$425
25 years$1,820$1,387$1,044$777$572$375
26 years$1,731$1,304$968$710$516$331
27 years$1,650$1,227$899$650$465$292
28 years$1,574$1,156$836$596$419$258
29 years$1,503$1,091$778$546$379$228
30 years$1,437$1,030$724$501$342$201
31 years$1,376$974$675$460$309$178
32 years$1,318$922$630$423$280$158
33 years$1,264$873$588$389$253$139
34 years$1,214$827$550$358$229$123
35 years$1,166$785$514$330$208$109
36 years$1,121$745$481$303$188$97
37 years$1,079$707$450$280$171$86
38 years$1,039$672$421$258$155$76
39 years$1,001$639$395$238$140$67
40 years$965$608$370$219$127$60
41 years$931$579$347$202$115$53
42 years$899$551$326$187$105$47
43 years$868$525$305$172$95$42
44 years$839$501$287$159$86$37
45 years$811$477$269$147$78$33
46 years$784$455$253$136$71$29
47 years$759$435$238$125$65$26
48 years$735$415$223$116$59$23
49 years$712$396$210$107$53$20
50 years$689$378$197$99$48$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $706,000, adding $2,720 every year, while hoping to spend $40,494 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: 62/31/7 Blend
53$706,000$706,000$706,000$706,000
54$780,818$743,400$732,457$827,995
55$817,376$736,741$713,909$853,173
56$856,306$728,399$693,382$875,683
57$897,806$718,248$670,768$899,214
58$942,096$706,156$645,952$923,863
59$989,414$691,981$618,816$949,741
60$1,040,022$675,576$589,234$976,967
61$1,094,207$656,782$557,076$1,005,678
62$1,152,284$635,432$522,206$1,036,026
63$1,214,598$611,350$484,481$1,068,177
64$1,281,530$584,348$443,754$1,102,321
65$1,353,494$554,230$399,868$1,138,665
66$1,430,948$520,784$352,661$1,177,443
67$1,514,393$483,791$301,963$1,218,913
68$1,604,380$443,016$247,598$1,263,362
69$1,701,516$398,213$189,381$1,311,111
70$1,806,463$349,118$127,119$1,362,516
71$1,919,955$295,457$60,609$1,417,970
72$2,042,793$236,937$0$1,477,914
73$2,175,861$173,250$0$1,543,609
74$2,320,130$104,071$0$1,619,704
75$2,476,669$29,056$0$1,702,283
76$2,646,650$0$0$1,792,032
77$2,831,367$0$0$1,907,502
78$3,032,239$0$0$2,043,896
79$3,250,831$0$0$2,192,369
80$3,488,863$0$0$2,354,096
81$3,748,226$0$0$2,530,371
82$4,031,005$0$0$2,722,614
83$4,339,492$0$0$2,932,391
84$4,676,210$0$0$3,161,426
85$5,043,937$0$0$3,411,615
86$5,445,732$0$0$3,685,047
87$5,884,959$0$0$3,984,020
88$6,365,326$0$0$4,311,067
89$6,890,914$0$0$4,668,973
90$7,466,217$0$0$5,060,808
91$8,096,181$0$0$5,489,952
92$8,786,257$0$0$5,960,127
93$9,542,445$0$0$6,475,430
94$10,371,354$0$0$7,040,377
95$11,280,262$0$0$7,659,938
96$12,277,186$0$0$8,339,591
97$13,370,956$0$0$9,085,365
98$14,571,298$0$0$9,903,905
99$15,888,925$0$0$10,802,529
100$17,335,637$0$0$11,789,298