Can I retire at age 54 with 710,000?

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 $710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$58,631$58,109$57,599$57,102$56,616$54,521
2 years$29,025$28,485$27,961$27,453$26,960$24,873
3 years$19,158$18,615$18,093$17,589$17,105$15,091
4 years$14,225$13,684$13,167$12,672$12,199$10,274
5 years$11,266$10,728$10,218$9,733$9,274$7,443
6 years$9,295$8,761$8,258$7,784$7,338$5,602
7 years$7,887$7,357$6,862$6,400$5,968$4,327
8 years$6,831$6,306$5,820$5,368$4,951$3,403
9 years$6,011$5,491$5,012$4,573$4,169$2,713
10 years$5,355$4,840$4,370$3,942$3,552$2,185
11 years$4,818$4,309$3,847$3,430$3,055$1,773
12 years$4,372$3,867$3,414$3,009$2,648$1,448
13 years$3,994$3,495$3,050$2,656$2,309$1,188
14 years$3,670$3,177$2,741$2,358$2,024$979
15 years$3,390$2,902$2,475$2,103$1,782$809
16 years$3,146$2,663$2,244$1,883$1,575$671
17 years$2,930$2,452$2,042$1,692$1,396$557
18 years$2,738$2,266$1,864$1,525$1,242$463
19 years$2,567$2,100$1,706$1,378$1,107$386
20 years$2,413$1,951$1,566$1,248$989$322
21 years$2,274$1,818$1,440$1,132$885$269
22 years$2,148$1,697$1,327$1,030$793$224
23 years$2,033$1,587$1,226$938$712$188
24 years$1,927$1,487$1,133$855$640$157
25 years$1,830$1,395$1,050$781$576$131
26 years$1,741$1,311$974$714$519$110
27 years$1,659$1,234$904$654$468$92
28 years$1,582$1,163$841$599$422$77
29 years$1,511$1,097$782$549$381$65
30 years$1,445$1,036$729$504$344$54
31 years$1,383$979$679$463$311$45
32 years$1,326$927$634$425$281$38
33 years$1,272$878$592$391$255$32
34 years$1,221$832$553$360$231$27
35 years$1,173$789$517$331$209$22
36 years$1,128$749$484$305$189$19
37 years$1,085$711$453$281$172$16
38 years$1,045$676$424$259$156$13
39 years$1,007$643$397$239$141$11
40 years$971$612$372$220$128$9
41 years$936$582$349$203$116$8
42 years$904$554$327$188$105$7
43 years$873$528$307$173$96$5
44 years$844$503$288$160$87$5
45 years$816$480$271$148$79$4
46 years$789$458$254$136$72$3
47 years$763$437$239$126$65$3
48 years$739$417$225$117$59$2
49 years$716$398$211$108$54$2
50 years$693$381$198$100$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $710,000, adding $6,840 every year, while hoping to spend $27,214 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: 53/35/12 Blend
53$710,000$710,000$710,000$710,000
54$789,475$751,845$740,840$828,489
55$841,046$759,730$736,703$863,701
56$896,966$767,090$731,515$898,488
57$957,648$773,869$725,212$935,708
58$1,023,549$780,009$717,728$975,598
59$1,095,171$785,450$708,992$1,018,419
60$1,173,066$790,124$698,931$1,064,460
61$1,257,841$793,963$687,468$1,114,042
62$1,350,165$796,891$674,521$1,167,516
63$1,450,772$798,829$660,008$1,225,274
64$1,560,472$799,693$643,840$1,287,746
65$1,680,156$799,394$625,925$1,355,407
66$1,810,804$797,836$606,165$1,428,785
67$1,953,496$794,920$584,461$1,508,459
68$2,109,418$790,536$560,706$1,595,071
69$2,279,879$784,573$534,791$1,689,330
70$2,466,320$776,910$506,599$1,792,018
71$2,670,325$767,419$476,010$1,904,000
72$2,893,640$755,965$442,899$2,026,231
73$3,138,188$742,404$407,133$2,159,763
74$3,406,086$726,585$368,575$2,305,762
75$3,699,666$708,346$327,081$2,465,511
76$4,021,494$687,518$282,501$2,640,430
77$4,374,400$663,920$234,678$2,832,085
78$4,761,498$637,360$183,448$3,042,204
79$5,186,218$607,638$128,641$3,272,696
80$5,652,339$574,540$70,078$3,525,669
81$6,164,025$537,839$7,572$3,803,446
82$6,725,859$497,298$0$4,108,595
83$7,342,894$452,662$0$4,451,519
84$8,020,692$403,666$0$4,829,299
85$8,765,384$350,026$0$5,244,440
86$9,583,721$291,446$0$5,700,778
87$10,483,144$227,610$0$6,202,541
88$11,471,847$158,185$0$6,754,393
89$12,558,859$82,820$0$7,361,479
90$13,754,128$1,144$0$8,029,473
91$15,068,615$0$0$8,764,632
92$16,514,393$0$0$9,607,454
93$18,104,767$0$0$10,535,133
94$19,854,395$0$0$11,555,788
95$21,779,429$0$0$12,678,851
96$23,897,661$0$0$13,914,715
97$26,228,701$0$0$15,274,828
98$28,794,151$0$0$16,771,810
99$31,617,816$0$0$18,419,560
100$34,725,925$0$0$20,233,397