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%19.5%
1 years$58,466$57,945$57,437$56,941$56,457$54,303
2 years$28,944$28,405$27,882$27,376$26,884$24,739
3 years$19,104$18,563$18,042$17,540$17,056$14,988
4 years$14,185$13,646$13,130$12,636$12,165$10,189
5 years$11,235$10,698$10,189$9,706$9,248$7,369
6 years$9,268$8,736$8,234$7,762$7,317$5,538
7 years$7,864$7,336$6,843$6,382$5,951$4,270
8 years$6,812$6,289$5,803$5,353$4,937$3,352
9 years$5,994$5,475$4,998$4,560$4,158$2,668
10 years$5,339$4,826$4,358$3,931$3,542$2,144
11 years$4,805$4,297$3,836$3,421$3,047$1,737
12 years$4,359$3,856$3,405$3,001$2,640$1,416
13 years$3,983$3,485$3,042$2,649$2,302$1,159
14 years$3,660$3,168$2,733$2,351$2,018$953
15 years$3,381$2,894$2,468$2,097$1,777$786
16 years$3,137$2,655$2,237$1,878$1,570$650
17 years$2,922$2,445$2,036$1,687$1,392$538
18 years$2,730$2,259$1,858$1,520$1,238$447
19 years$2,560$2,094$1,701$1,374$1,104$371
20 years$2,406$1,946$1,561$1,244$986$309
21 years$2,268$1,813$1,436$1,129$882$257
22 years$2,142$1,692$1,324$1,027$791$215
23 years$2,027$1,582$1,222$935$710$179
24 years$1,922$1,483$1,130$853$638$149
25 years$1,825$1,391$1,047$779$574$125
26 years$1,736$1,308$971$712$517$104
27 years$1,654$1,231$902$652$466$87
28 years$1,578$1,160$838$597$421$73
29 years$1,507$1,094$780$548$380$61
30 years$1,441$1,033$727$503$343$51
31 years$1,380$977$677$462$310$42
32 years$1,322$924$632$424$281$36
33 years$1,268$875$590$390$254$30
34 years$1,217$829$551$359$230$25
35 years$1,169$787$515$330$208$21
36 years$1,124$747$482$304$189$17
37 years$1,082$709$451$280$171$15
38 years$1,042$674$423$258$155$12
39 years$1,004$641$396$238$141$10
40 years$968$610$371$220$128$9
41 years$934$580$348$203$116$7
42 years$901$553$326$187$105$6
43 years$871$527$306$173$95$5
44 years$841$502$288$160$87$4
45 years$813$479$270$147$79$3
46 years$787$457$254$136$71$3
47 years$761$436$238$126$65$2
48 years$737$416$224$116$59$2
49 years$714$397$210$107$53$2
50 years$691$380$198$99$49$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $708,000, adding $3,204 every year, while hoping to spend $41,649 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: 45/33/22 Blend
53$708,000$708,000$708,000$708,000
54$783,521$745,997$735,023$813,682
55$819,126$738,237$715,332$827,482
56$856,967$728,700$693,585$838,098
57$897,227$717,256$669,671$848,765
58$940,109$703,767$643,469$859,506
59$985,833$688,084$614,858$870,353
60$1,034,641$670,053$583,709$881,342
61$1,086,796$649,508$549,885$892,516
62$1,142,591$626,275$513,248$903,929
63$1,202,342$600,169$473,648$915,639
64$1,266,398$570,995$430,933$927,717
65$1,335,143$538,546$384,942$940,246
66$1,408,997$502,604$335,506$953,320
67$1,488,420$462,937$282,451$967,048
68$1,573,919$419,301$225,594$981,554
69$1,666,050$371,438$164,742$996,983
70$1,765,423$319,075$99,697$1,013,496
71$1,872,710$261,923$30,251$1,031,279
72$1,988,647$199,678$0$1,050,544
73$2,114,045$132,018$0$1,081,825
74$2,249,794$58,603$0$1,123,343
75$2,396,873$0$0$1,168,352
76$2,556,358$0$0$1,224,852
77$2,729,433$0$0$1,309,330
78$2,917,401$0$0$1,401,151
79$3,121,692$0$0$1,501,023
80$3,343,883$0$0$1,609,726
81$3,585,706$0$0$1,728,118
82$3,849,069$0$0$1,857,144
83$4,136,070$0$0$1,997,842
84$4,449,018$0$0$2,151,356
85$4,790,456$0$0$2,318,945
86$5,163,180$0$0$2,501,995
87$5,570,272$0$0$2,702,032
88$6,015,122$0$0$2,920,734
89$6,501,461$0$0$3,159,952
90$7,033,401$0$0$3,421,721
91$7,615,465$0$0$3,708,283
92$8,252,636$0$0$4,022,107
93$8,950,401$0$0$4,365,912
94$9,714,802$0$0$4,742,691
95$10,552,493$0$0$5,155,744
96$11,470,802$0$0$5,608,700
97$12,477,800$0$0$6,105,561
98$13,582,377$0$0$6,650,732
99$14,794,323$0$0$7,249,066
100$16,124,424$0$0$7,905,908