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%15.3%
1 years$58,549$58,027$57,518$57,022$56,537$55,305
2 years$28,984$28,445$27,921$27,414$26,922$25,687
3 years$19,131$18,589$18,067$17,565$17,081$15,881
4 years$14,205$13,665$13,148$12,654$12,182$11,027
5 years$11,251$10,713$10,204$9,720$9,261$8,154
6 years$9,281$8,748$8,246$7,773$7,328$6,270
7 years$7,875$7,347$6,852$6,391$5,959$4,951
8 years$6,821$6,298$5,811$5,361$4,944$3,985
9 years$6,002$5,483$5,005$4,566$4,163$3,253
10 years$5,347$4,833$4,364$3,936$3,547$2,684
11 years$4,811$4,303$3,842$3,426$3,051$2,234
12 years$4,365$3,862$3,410$3,005$2,644$1,872
13 years$3,988$3,490$3,046$2,653$2,305$1,577
14 years$3,665$3,172$2,737$2,355$2,021$1,335
15 years$3,386$2,898$2,471$2,100$1,779$1,134
16 years$3,141$2,659$2,240$1,880$1,573$966
17 years$2,926$2,449$2,039$1,690$1,394$826
18 years$2,734$2,263$1,861$1,523$1,240$707
19 years$2,563$2,097$1,704$1,376$1,105$606
20 years$2,410$1,949$1,564$1,246$987$521
21 years$2,271$1,815$1,438$1,131$883$448
22 years$2,145$1,694$1,326$1,028$792$386
23 years$2,030$1,585$1,224$936$711$333
24 years$1,925$1,485$1,132$854$639$287
25 years$1,828$1,393$1,048$780$575$248
26 years$1,739$1,310$972$713$518$214
27 years$1,657$1,232$903$653$467$185
28 years$1,580$1,161$839$598$421$160
29 years$1,509$1,096$781$548$380$139
30 years$1,443$1,035$728$503$344$120
31 years$1,382$978$678$462$311$104
32 years$1,324$925$633$425$281$90
33 years$1,270$876$591$391$254$78
34 years$1,219$831$552$359$230$67
35 years$1,171$788$516$331$209$58
36 years$1,126$748$483$305$189$51
37 years$1,084$710$452$281$171$44
38 years$1,043$675$423$259$155$38
39 years$1,005$642$397$239$141$33
40 years$969$611$372$220$128$29
41 years$935$581$348$203$116$25
42 years$903$554$327$187$105$21
43 years$872$527$307$173$95$19
44 years$842$503$288$160$87$16
45 years$814$479$270$148$79$14
46 years$788$457$254$136$71$12
47 years$762$436$239$126$65$11
48 years$738$417$224$116$59$9
49 years$715$398$211$108$53$8
50 years$692$380$198$99$49$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $709,000, adding $4,478 every year, while hoping to spend $21,702 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: 30/44/26 Blend
53$709,000$709,000$709,000$709,000
54$785,937$748,360$737,371$803,102
55$843,012$761,939$738,982$830,358
56$905,181$775,456$739,919$857,446
57$972,941$788,885$740,138$886,150
58$1,046,839$802,198$739,591$916,625
59$1,127,476$815,365$738,226$949,043
60$1,215,514$828,354$735,993$983,594
61$1,311,683$841,130$732,835$1,020,488
62$1,416,786$853,656$728,696$1,059,957
63$1,531,704$865,892$723,514$1,102,259
64$1,657,413$877,795$717,226$1,147,680
65$1,794,982$889,320$709,766$1,196,534
66$1,945,591$900,418$701,065$1,249,169
67$2,110,540$911,036$691,049$1,305,973
68$2,291,258$921,120$679,642$1,367,372
69$2,489,320$930,609$666,764$1,433,837
70$2,706,462$939,440$652,332$1,505,891
71$2,944,595$947,546$636,258$1,584,110
72$3,205,822$954,855$618,451$1,669,133
73$3,492,462$961,289$598,816$1,761,664
74$3,807,068$966,767$577,251$1,862,485
75$4,152,453$971,202$553,653$1,972,455
76$4,531,715$974,503$527,912$2,092,527
77$4,948,266$976,569$499,913$2,223,755
78$5,405,866$977,299$469,537$2,367,299
79$5,908,658$976,579$436,660$2,524,446
80$6,461,202$974,293$401,150$2,696,613
81$7,068,527$970,316$362,871$2,885,369
82$7,736,171$964,515$321,680$3,092,445
83$8,470,233$956,749$277,429$3,319,754
84$9,277,436$946,869$229,963$3,569,406
85$10,165,186$934,717$179,118$3,843,733
86$11,141,642$920,126$124,726$4,145,311
87$12,215,795$902,917$66,609$4,476,983
88$13,397,549$882,902$4,583$4,841,885
89$14,697,817$859,883$0$5,243,483
90$16,128,625$833,648$0$5,702,692
91$17,703,222$803,974$0$6,209,110
92$19,436,206$770,624$0$6,766,180
93$21,343,663$733,349$0$7,379,104
94$23,443,317$691,883$0$8,053,620
95$25,754,698$645,948$0$8,796,054
96$28,299,325$595,247$0$9,613,383
97$31,100,910$539,468$0$10,513,302
98$34,185,580$478,279$0$11,504,296
99$37,582,127$411,332$0$12,595,720
100$41,322,274$338,258$0$13,797,893