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%11%
1 years$58,301$57,782$57,275$56,780$56,297$56,060
2 years$28,862$28,324$27,803$27,298$26,808$26,569
3 years$19,050$18,510$17,991$17,490$17,008$16,774
4 years$14,145$13,607$13,093$12,601$12,130$11,903
5 years$11,203$10,668$10,160$9,679$9,221$9,002
6 years$9,242$8,711$8,211$7,740$7,297$7,085
7 years$7,842$7,316$6,823$6,364$5,934$5,730
8 years$6,793$6,271$5,787$5,338$4,923$4,727
9 years$5,977$5,460$4,984$4,547$4,146$3,958
10 years$5,324$4,813$4,345$3,920$3,532$3,352
11 years$4,791$4,284$3,826$3,411$3,038$2,866
12 years$4,347$3,845$3,395$2,992$2,633$2,468
13 years$3,971$3,475$3,033$2,642$2,296$2,139
14 years$3,650$3,159$2,725$2,345$2,012$1,863
15 years$3,371$2,886$2,461$2,091$1,772$1,629
16 years$3,128$2,648$2,231$1,872$1,566$1,430
17 years$2,913$2,438$2,030$1,682$1,389$1,260
18 years$2,723$2,253$1,853$1,516$1,235$1,112
19 years$2,553$2,088$1,697$1,370$1,100$985
20 years$2,399$1,940$1,557$1,241$983$873
21 years$2,261$1,807$1,432$1,126$880$776
22 years$2,136$1,687$1,320$1,024$788$690
23 years$2,021$1,578$1,219$932$708$615
24 years$1,916$1,478$1,127$850$636$549
25 years$1,820$1,387$1,044$777$572$490
26 years$1,731$1,304$968$710$516$438
27 years$1,650$1,227$899$650$465$392
28 years$1,574$1,156$836$596$419$351
29 years$1,503$1,091$778$546$379$314
30 years$1,437$1,030$724$501$342$282
31 years$1,376$974$675$460$309$253
32 years$1,318$922$630$423$280$227
33 years$1,264$873$588$389$253$203
34 years$1,214$827$550$358$229$183
35 years$1,166$785$514$330$208$164
36 years$1,121$745$481$303$188$147
37 years$1,079$707$450$280$171$133
38 years$1,039$672$421$258$155$119
39 years$1,001$639$395$238$140$107
40 years$965$608$370$219$127$96
41 years$931$579$347$202$115$87
42 years$899$551$326$187$105$78
43 years$868$525$305$172$95$70
44 years$839$501$287$159$86$63
45 years$811$477$269$147$78$57
46 years$784$455$253$136$71$51
47 years$759$435$238$125$65$46
48 years$735$415$223$116$59$41
49 years$712$396$210$107$53$37
50 years$689$378$197$99$48$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $706,000, adding $5,279 every year, while hoping to spend $33,536 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: 82/6/12 Blend
53$706,000$706,000$706,000$706,000
54$783,457$746,039$735,096$845,592
55$827,688$746,913$724,040$887,971
56$875,306$746,706$711,489$929,533
57$926,622$745,329$697,359$974,170
58$981,976$742,689$681,559$1,022,173
59$1,041,743$738,686$663,996$1,073,862
60$1,106,333$733,214$644,573$1,129,590
61$1,176,199$726,162$623,186$1,189,747
62$1,251,838$717,410$599,729$1,254,759
63$1,333,795$706,833$574,090$1,325,100
64$1,422,671$694,297$546,151$1,401,289
65$1,519,127$679,660$515,790$1,483,898
66$1,623,889$662,775$482,880$1,573,560
67$1,737,755$643,480$447,286$1,670,968
68$1,861,605$621,610$408,869$1,776,891
69$1,996,405$596,985$367,483$1,892,172
70$2,143,220$569,419$322,976$2,017,742
71$2,303,221$538,713$275,187$2,154,628
72$2,477,695$504,656$223,952$2,303,959
73$2,668,061$467,025$169,096$2,466,983
74$2,875,881$425,587$110,438$2,645,072
75$3,102,872$380,091$47,788$2,839,740
76$3,350,926$330,277$0$3,052,656
77$3,622,125$275,866$0$3,288,101
78$3,918,764$216,564$0$3,552,348
79$4,243,365$152,064$0$3,841,535
80$4,598,710$82,036$0$4,158,152
81$4,987,859$6,137$0$4,504,945
82$5,414,185$0$0$4,884,935
83$5,881,398$0$0$5,306,473
84$6,393,589$0$0$5,769,051
85$6,955,261$0$0$6,276,334
86$7,571,373$0$0$6,832,803
87$8,247,389$0$0$7,443,394
88$8,989,326$0$0$8,113,546
89$9,803,812$0$0$8,849,247
90$10,698,150$0$0$9,657,096
91$11,680,383$0$0$10,544,360
92$12,759,370$0$0$11,519,045
93$13,944,873$0$0$12,589,972
94$15,247,645$0$0$13,766,857
95$16,679,533$0$0$15,060,405
96$18,253,586$0$0$16,482,408
97$19,984,184$0$0$18,045,859
98$21,887,168$0$0$19,765,073
99$23,979,992$0$0$21,655,822
100$26,281,884$0$0$23,735,479