Can I retire at age 54 with 708,000?

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 $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%16.1%
1 years$58,466$57,945$57,437$56,941$56,457$55,047
2 years$28,944$28,405$27,882$27,376$26,884$25,473
3 years$19,104$18,563$18,042$17,540$17,056$15,688
4 years$14,185$13,646$13,130$12,636$12,165$10,849
5 years$11,235$10,698$10,189$9,706$9,248$7,989
6 years$9,268$8,736$8,234$7,762$7,317$6,116
7 years$7,864$7,336$6,843$6,382$5,951$4,808
8 years$6,812$6,289$5,803$5,353$4,937$3,851
9 years$5,994$5,475$4,998$4,560$4,158$3,129
10 years$5,339$4,826$4,358$3,931$3,542$2,569
11 years$4,805$4,297$3,836$3,421$3,047$2,127
12 years$4,359$3,856$3,405$3,001$2,640$1,773
13 years$3,983$3,485$3,042$2,649$2,302$1,486
14 years$3,660$3,168$2,733$2,351$2,018$1,251
15 years$3,381$2,894$2,468$2,097$1,777$1,057
16 years$3,137$2,655$2,237$1,878$1,570$895
17 years$2,922$2,445$2,036$1,687$1,392$761
18 years$2,730$2,259$1,858$1,520$1,238$647
19 years$2,560$2,094$1,701$1,374$1,104$552
20 years$2,406$1,946$1,561$1,244$986$471
21 years$2,268$1,813$1,436$1,129$882$403
22 years$2,142$1,692$1,324$1,027$791$345
23 years$2,027$1,582$1,222$935$710$296
24 years$1,922$1,483$1,130$853$638$253
25 years$1,825$1,391$1,047$779$574$217
26 years$1,736$1,308$971$712$517$187
27 years$1,654$1,231$902$652$466$160
28 years$1,578$1,160$838$597$421$138
29 years$1,507$1,094$780$548$380$118
30 years$1,441$1,033$727$503$343$102
31 years$1,380$977$677$462$310$88
32 years$1,322$924$632$424$281$75
33 years$1,268$875$590$390$254$65
34 years$1,217$829$551$359$230$56
35 years$1,169$787$515$330$208$48
36 years$1,124$747$482$304$189$41
37 years$1,082$709$451$280$171$36
38 years$1,042$674$423$258$155$31
39 years$1,004$641$396$238$141$26
40 years$968$610$371$220$128$23
41 years$934$580$348$203$116$20
42 years$901$553$326$187$105$17
43 years$871$527$306$173$95$14
44 years$841$502$288$160$87$12
45 years$813$479$270$147$79$11
46 years$787$457$254$136$71$9
47 years$761$436$238$126$65$8
48 years$737$416$224$116$59$7
49 years$714$397$210$107$53$6
50 years$691$380$198$99$49$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $708,000, adding $6,864 every year, while hoping to spend $35,373 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: 71/8/21 Blend
53$708,000$708,000$708,000$708,000
54$787,296$749,772$738,798$838,672
55$829,964$748,874$725,911$872,912
56$875,798$746,747$711,407$905,546
57$925,084$743,293$695,194$940,402
58$978,136$738,408$677,177$977,696
59$1,035,299$731,982$657,255$1,017,666
60$1,096,949$723,899$635,323$1,060,576
61$1,163,504$714,036$611,272$1,106,718
62$1,235,419$702,262$584,987$1,156,412
63$1,313,197$688,437$556,349$1,210,014
64$1,397,388$672,416$525,232$1,267,916
65$1,488,600$654,043$491,506$1,330,551
66$1,587,499$633,152$455,033$1,398,397
67$1,694,818$609,571$415,670$1,471,982
68$1,811,363$583,113$373,269$1,551,890
69$1,938,021$553,585$327,673$1,638,764
70$2,075,769$520,780$278,719$1,733,316
71$2,225,679$484,480$226,238$1,836,329
72$2,388,932$444,454$170,051$1,948,671
73$2,566,829$400,458$109,974$2,071,297
74$2,760,799$352,234$45,812$2,205,264
75$2,972,418$299,510$0$2,351,736
76$3,203,416$241,998$0$2,517,077
77$3,455,703$179,395$0$2,708,913
78$3,731,377$111,378$0$2,918,585
79$4,032,751$37,608$0$3,147,872
80$4,362,369$0$0$3,398,735
81$4,723,034$0$0$3,677,055
82$5,117,832$0$0$3,985,375
83$5,550,160$0$0$4,323,041
84$6,023,760$0$0$4,692,980
85$6,542,753$0$0$5,098,417
86$7,111,677$0$0$5,542,900
87$7,735,530$0$0$6,030,341
88$8,419,819$0$0$6,565,046
89$9,170,605$0$0$7,151,759
90$9,994,569$0$0$7,795,704
91$10,899,067$0$0$8,502,637
92$11,892,202$0$0$9,278,899
93$12,982,903$0$0$10,131,472
94$14,181,002$0$0$11,068,051
95$15,497,334$0$0$12,097,110
96$16,943,832$0$0$13,227,987
97$18,533,645$0$0$14,470,969
98$20,281,257$0$0$15,837,387
99$22,202,627$0$0$17,339,726
100$24,315,336$0$0$18,991,742