Can I retire at age 54 with 709,000?

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 $709,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$58,549$58,027$57,518$57,022$56,537$55,081
2 years$28,984$28,445$27,921$27,414$26,922$25,465
3 years$19,131$18,589$18,067$17,565$17,081$15,668
4 years$14,205$13,665$13,148$12,654$12,182$10,824
5 years$11,251$10,713$10,204$9,720$9,261$7,962
6 years$9,281$8,748$8,246$7,773$7,328$6,089
7 years$7,875$7,347$6,852$6,391$5,959$4,781
8 years$6,821$6,298$5,811$5,361$4,944$3,826
9 years$6,002$5,483$5,005$4,566$4,163$3,104
10 years$5,347$4,833$4,364$3,936$3,547$2,546
11 years$4,811$4,303$3,842$3,426$3,051$2,105
12 years$4,365$3,862$3,410$3,005$2,644$1,753
13 years$3,988$3,490$3,046$2,653$2,305$1,467
14 years$3,665$3,172$2,737$2,355$2,021$1,233
15 years$3,386$2,898$2,471$2,100$1,779$1,040
16 years$3,141$2,659$2,240$1,880$1,573$880
17 years$2,926$2,449$2,039$1,690$1,394$746
18 years$2,734$2,263$1,861$1,523$1,240$634
19 years$2,563$2,097$1,704$1,376$1,105$540
20 years$2,410$1,949$1,564$1,246$987$461
21 years$2,271$1,815$1,438$1,131$883$393
22 years$2,145$1,694$1,326$1,028$792$336
23 years$2,030$1,585$1,224$936$711$287
24 years$1,925$1,485$1,132$854$639$246
25 years$1,828$1,393$1,048$780$575$211
26 years$1,739$1,310$972$713$518$181
27 years$1,657$1,232$903$653$467$155
28 years$1,580$1,161$839$598$421$133
29 years$1,509$1,096$781$548$380$114
30 years$1,443$1,035$728$503$344$98
31 years$1,382$978$678$462$311$84
32 years$1,324$925$633$425$281$72
33 years$1,270$876$591$391$254$62
34 years$1,219$831$552$359$230$53
35 years$1,171$788$516$331$209$46
36 years$1,126$748$483$305$189$39
37 years$1,084$710$452$281$171$34
38 years$1,043$675$423$259$155$29
39 years$1,005$642$397$239$141$25
40 years$969$611$372$220$128$21
41 years$935$581$348$203$116$18
42 years$903$554$327$187$105$16
43 years$872$527$307$173$95$14
44 years$842$503$288$160$87$12
45 years$814$479$270$148$79$10
46 years$788$457$254$136$71$9
47 years$762$436$239$126$65$7
48 years$738$417$224$116$59$6
49 years$715$398$211$108$53$5
50 years$692$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 $709,000, adding $2,188 every year, while hoping to spend $34,395 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: 51/44/5 Blend
53$709,000$709,000$709,000$709,000
54$783,575$745,998$735,008$822,519
55$826,904$745,956$723,035$849,157
56$873,499$744,759$709,508$874,179
57$923,658$742,314$694,339$900,547
58$977,707$738,523$677,435$928,392
59$1,036,003$733,281$658,699$957,864
60$1,098,941$726,477$638,031$989,126
61$1,166,952$717,994$615,324$1,022,362
62$1,240,512$707,706$590,468$1,057,776
63$1,320,142$695,482$563,347$1,095,594
64$1,406,418$681,182$533,840$1,136,068
65$1,499,970$664,657$501,821$1,179,479
66$1,601,492$645,750$467,157$1,226,137
67$1,711,747$624,296$429,711$1,276,387
68$1,831,577$600,117$389,337$1,330,614
69$1,961,904$573,029$345,886$1,389,241
70$2,103,744$542,834$299,199$1,452,743
71$2,258,217$509,323$249,113$1,521,643
72$2,426,552$472,277$195,456$1,596,521
73$2,610,105$431,463$138,048$1,678,024
74$2,810,365$386,635$76,702$1,766,864
75$3,028,974$337,531$11,223$1,863,836
76$3,267,737$283,878$0$1,969,815
77$3,528,643$225,385$0$2,088,904
78$3,813,881$161,745$0$2,219,893
79$4,125,860$92,634$0$2,363,389
80$4,467,235$17,711$0$2,520,724
81$4,840,927$0$0$2,693,373
82$5,250,154$0$0$2,913,661
83$5,698,458$0$0$3,164,451
84$6,189,743$0$0$3,439,359
85$6,728,304$0$0$3,740,800
86$7,318,876$0$0$4,071,434
87$7,966,672$0$0$4,434,187
88$8,677,432$0$0$4,832,287
89$9,457,482$0$0$5,269,285
90$10,313,788$0$0$5,749,097
91$11,254,025$0$0$6,276,034
92$12,286,644$0$0$6,854,845
93$13,420,959$0$0$7,490,762
94$14,667,228$0$0$8,189,549
95$16,036,753$0$0$8,957,557
96$17,541,983$0$0$9,801,781
97$19,196,635$0$0$10,729,928
98$21,015,821$0$0$11,750,489
99$23,016,190$0$0$12,872,821
100$25,216,084$0$0$14,107,229