Can I retire at age 54 with 708,000?

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 $708,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$58,466$57,945$57,437$56,941$56,457$55,844
2 years$28,944$28,405$27,882$27,376$26,884$26,267
3 years$19,104$18,563$18,042$17,540$17,056$16,454
4 years$14,185$13,646$13,130$12,636$12,165$11,582
5 years$11,235$10,698$10,189$9,706$9,248$8,686
6 years$9,268$8,736$8,234$7,762$7,317$6,778
7 years$7,864$7,336$6,843$6,382$5,951$5,434
8 years$6,812$6,289$5,803$5,353$4,937$4,442
9 years$5,994$5,475$4,998$4,560$4,158$3,685
10 years$5,339$4,826$4,358$3,931$3,542$3,091
11 years$4,805$4,297$3,836$3,421$3,047$2,617
12 years$4,359$3,856$3,405$3,001$2,640$2,231
13 years$3,983$3,485$3,042$2,649$2,302$1,913
14 years$3,660$3,168$2,733$2,351$2,018$1,649
15 years$3,381$2,894$2,468$2,097$1,777$1,427
16 years$3,137$2,655$2,237$1,878$1,570$1,239
17 years$2,922$2,445$2,036$1,687$1,392$1,079
18 years$2,730$2,259$1,858$1,520$1,238$942
19 years$2,560$2,094$1,701$1,374$1,104$825
20 years$2,406$1,946$1,561$1,244$986$723
21 years$2,268$1,813$1,436$1,129$882$635
22 years$2,142$1,692$1,324$1,027$791$558
23 years$2,027$1,582$1,222$935$710$491
24 years$1,922$1,483$1,130$853$638$433
25 years$1,825$1,391$1,047$779$574$382
26 years$1,736$1,308$971$712$517$337
27 years$1,654$1,231$902$652$466$298
28 years$1,578$1,160$838$597$421$263
29 years$1,507$1,094$780$548$380$233
30 years$1,441$1,033$727$503$343$206
31 years$1,380$977$677$462$310$182
32 years$1,322$924$632$424$281$161
33 years$1,268$875$590$390$254$143
34 years$1,217$829$551$359$230$127
35 years$1,169$787$515$330$208$112
36 years$1,124$747$482$304$189$100
37 years$1,082$709$451$280$171$88
38 years$1,042$674$423$258$155$78
39 years$1,004$641$396$238$141$69
40 years$968$610$371$220$128$62
41 years$934$580$348$203$116$55
42 years$901$553$326$187$105$48
43 years$871$527$306$173$95$43
44 years$841$502$288$160$87$38
45 years$813$479$270$147$79$34
46 years$787$457$254$136$71$30
47 years$761$436$238$126$65$27
48 years$737$416$224$116$59$24
49 years$714$397$210$107$53$21
50 years$691$380$198$99$49$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $708,000, adding $3,245 every year, while hoping to spend $50,754 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: 46/36/18 Blend
53$708,000$708,000$708,000$708,000
54$783,563$746,039$735,065$815,446
55$809,485$728,593$705,688$820,581
56$836,349$708,591$673,626$820,801
57$864,199$685,855$638,735$819,966
58$893,080$660,194$600,865$817,999
59$923,040$631,409$559,859$814,819
60$954,130$599,288$515,554$810,343
61$986,405$563,607$467,779$804,481
62$1,019,923$524,128$416,354$797,141
63$1,054,746$480,601$361,093$788,226
64$1,090,941$432,762$301,800$777,631
65$1,128,579$380,329$238,273$765,251
66$1,167,736$323,008$170,298$750,972
67$1,208,495$260,485$97,652$734,677
68$1,250,944$192,431$20,106$716,243
69$1,295,176$118,496$0$695,542
70$1,341,294$38,313$0$684,471
71$1,389,408$0$0$675,760
72$1,439,635$0$0$684,666
73$1,492,103$0$0$709,843
74$1,546,950$0$0$736,180
75$1,604,325$0$0$763,752
76$1,664,389$0$0$792,641
77$1,727,318$0$0$822,931
78$1,793,299$0$0$854,719
79$1,862,539$0$0$888,107
80$1,935,261$0$0$923,205
81$2,011,707$0$0$960,136
82$2,092,140$0$0$999,031
83$2,176,847$0$0$1,040,033
84$2,266,141$0$0$1,083,299
85$2,360,362$0$0$1,128,999
86$2,459,880$0$0$1,177,320
87$2,565,099$0$0$1,228,464
88$2,676,462$0$0$1,282,653
89$2,794,450$0$0$1,340,130
90$2,919,590$0$0$1,401,158
91$3,052,458$0$0$1,466,028
92$3,193,683$0$0$1,535,056
93$3,343,954$0$0$1,608,589
94$3,504,024$0$0$1,687,006
95$3,674,720$0$0$1,770,724
96$3,856,946$0$0$1,860,198
97$4,051,691$0$0$1,955,927
98$4,260,043$0$0$2,058,459
99$4,483,192$0$0$2,168,395
100$4,722,444$0$0$2,286,393