Can I retire at age 54 with 706,000?

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 $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%11.6%
1 years$58,301$57,782$57,275$56,780$56,297$55,919
2 years$28,862$28,324$27,803$27,298$26,808$26,427
3 years$19,050$18,510$17,991$17,490$17,008$16,635
4 years$14,145$13,607$13,093$12,601$12,130$11,769
5 years$11,203$10,668$10,160$9,679$9,221$8,872
6 years$9,242$8,711$8,211$7,740$7,297$6,961
7 years$7,842$7,316$6,823$6,364$5,934$5,611
8 years$6,793$6,271$5,787$5,338$4,923$4,613
9 years$5,977$5,460$4,984$4,547$4,146$3,849
10 years$5,324$4,813$4,345$3,920$3,532$3,249
11 years$4,791$4,284$3,826$3,411$3,038$2,767
12 years$4,347$3,845$3,395$2,992$2,633$2,374
13 years$3,971$3,475$3,033$2,642$2,296$2,049
14 years$3,650$3,159$2,725$2,345$2,012$1,778
15 years$3,371$2,886$2,461$2,091$1,772$1,549
16 years$3,128$2,648$2,231$1,872$1,566$1,354
17 years$2,913$2,438$2,030$1,682$1,389$1,188
18 years$2,723$2,253$1,853$1,516$1,235$1,044
19 years$2,553$2,088$1,697$1,370$1,100$921
20 years$2,399$1,940$1,557$1,241$983$813
21 years$2,261$1,807$1,432$1,126$880$719
22 years$2,136$1,687$1,320$1,024$788$637
23 years$2,021$1,578$1,219$932$708$565
24 years$1,916$1,478$1,127$850$636$502
25 years$1,820$1,387$1,044$777$572$446
26 years$1,731$1,304$968$710$516$397
27 years$1,650$1,227$899$650$465$353
28 years$1,574$1,156$836$596$419$315
29 years$1,503$1,091$778$546$379$281
30 years$1,437$1,030$724$501$342$250
31 years$1,376$974$675$460$309$223
32 years$1,318$922$630$423$280$199
33 years$1,264$873$588$389$253$178
34 years$1,214$827$550$358$229$159
35 years$1,166$785$514$330$208$142
36 years$1,121$745$481$303$188$127
37 years$1,079$707$450$280$171$114
38 years$1,039$672$421$258$155$102
39 years$1,001$639$395$238$140$91
40 years$965$608$370$219$127$81
41 years$931$579$347$202$115$73
42 years$899$551$326$187$105$65
43 years$868$525$305$172$95$58
44 years$839$501$287$159$86$52
45 years$811$477$269$147$78$47
46 years$784$455$253$136$71$42
47 years$759$435$238$125$65$38
48 years$735$415$223$116$59$34
49 years$712$396$210$107$53$30
50 years$689$378$197$99$48$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $706,000, adding $2,064 every year, while hoping to spend $25,791 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: 47/44/9 Blend
53$706,000$706,000$706,000$706,000
54$780,141$742,723$731,780$814,790
55$832,274$751,675$728,853$847,795
56$888,860$760,201$724,964$880,740
57$950,326$768,254$720,053$915,900
58$1,017,142$775,781$714,057$953,490
59$1,089,825$782,728$706,912$993,746
60$1,168,943$789,038$698,550$1,036,930
61$1,255,121$794,647$688,897$1,083,329
62$1,349,048$799,489$677,880$1,133,264
63$1,451,482$803,495$665,420$1,187,086
64$1,563,257$806,589$651,435$1,245,186
65$1,685,289$808,693$635,838$1,307,995
66$1,818,591$809,720$618,541$1,375,988
67$1,964,273$809,583$599,448$1,449,691
68$2,123,560$808,184$578,461$1,529,686
69$2,297,801$805,423$555,477$1,616,614
70$2,488,481$801,192$530,389$1,711,185
71$2,697,233$795,378$503,085$1,814,182
72$2,925,858$787,859$473,445$1,926,472
73$3,176,339$778,507$441,349$2,049,010
74$3,450,857$767,186$406,666$2,182,853
75$3,751,819$753,752$369,263$2,329,166
76$4,081,871$738,053$329,000$2,489,239
77$4,443,931$719,926$285,731$2,664,493
78$4,841,210$699,201$239,301$2,856,499
79$5,277,248$675,696$189,552$3,066,992
80$5,755,942$649,220$136,317$3,297,887
81$6,281,587$619,570$79,422$3,551,298
82$6,858,910$586,531$18,685$3,829,559
83$7,493,124$549,876$0$4,135,245
84$8,189,968$509,365$0$4,475,631
85$8,955,765$464,744$0$4,851,629
86$9,797,481$415,745$0$5,264,927
87$10,722,791$362,084$0$5,719,368
88$11,740,152$303,461$0$6,219,194
89$12,858,877$239,561$0$6,769,084
90$14,089,232$170,048$0$7,374,198
91$15,442,523$94,570$0$8,040,232
92$16,931,209$12,753$0$8,773,465
93$18,569,019$0$0$9,580,825
94$20,371,076$0$0$10,506,654
95$22,354,045$0$0$11,532,316
96$24,536,289$0$0$12,661,147
97$26,938,038$0$0$13,903,623
98$29,581,586$0$0$15,271,289
99$32,491,496$0$0$16,776,867
100$35,694,833$0$0$18,434,372