Can I retire at age 54 with 711,000?

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 $711,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$58,714$58,191$57,680$57,182$56,696$55,941
2 years$29,066$28,525$28,000$27,492$26,998$26,239
3 years$19,185$18,641$18,118$17,614$17,129$16,389
4 years$14,245$13,703$13,185$12,690$12,216$11,501
5 years$11,282$10,744$10,232$9,747$9,287$8,598
6 years$9,308$8,773$8,269$7,795$7,348$6,688
7 years$7,898$7,368$6,872$6,409$5,976$5,344
8 years$6,841$6,315$5,828$5,376$4,958$4,353
9 years$6,019$5,499$5,019$4,579$4,175$3,598
10 years$5,362$4,847$4,376$3,947$3,557$3,008
11 years$4,825$4,315$3,853$3,435$3,060$2,536
12 years$4,378$3,873$3,419$3,013$2,651$2,154
13 years$3,999$3,500$3,055$2,660$2,312$1,841
14 years$3,676$3,181$2,745$2,361$2,027$1,580
15 years$3,395$2,906$2,478$2,106$1,784$1,362
16 years$3,150$2,666$2,247$1,886$1,577$1,178
17 years$2,934$2,456$2,044$1,694$1,398$1,021
18 years$2,742$2,269$1,866$1,527$1,243$888
19 years$2,571$2,103$1,709$1,380$1,108$774
20 years$2,416$1,954$1,568$1,250$990$675
21 years$2,277$1,820$1,442$1,134$886$590
22 years$2,151$1,699$1,329$1,031$794$516
23 years$2,035$1,589$1,227$939$713$453
24 years$1,930$1,489$1,135$856$641$397
25 years$1,833$1,397$1,051$782$576$348
26 years$1,744$1,313$975$715$519$306
27 years$1,661$1,236$905$655$468$269
28 years$1,585$1,165$842$600$422$237
29 years$1,514$1,099$783$550$381$208
30 years$1,447$1,038$730$505$345$183
31 years$1,385$981$680$464$312$162
32 years$1,328$928$635$426$282$142
33 years$1,273$879$593$392$255$126
34 years$1,222$833$554$360$231$111
35 years$1,174$790$518$332$209$98
36 years$1,129$750$484$306$190$86
37 years$1,087$712$453$282$172$76
38 years$1,046$677$424$260$156$67
39 years$1,008$644$398$239$141$59
40 years$972$612$373$221$128$52
41 years$938$583$349$204$116$46
42 years$905$555$328$188$105$41
43 years$874$529$308$173$96$36
44 years$845$504$289$160$87$32
45 years$817$481$271$148$79$28
46 years$790$459$255$137$72$25
47 years$764$438$239$126$65$22
48 years$740$418$225$117$59$19
49 years$717$399$211$108$54$17
50 years$694$381$199$100$49$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $711,000, adding $3,449 every year, while hoping to spend $58,502 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: 68/13/19 Blend
53$711,000$711,000$711,000$711,000
54$787,080$749,397$738,376$836,700
55$805,116$723,871$700,866$844,772
56$823,032$695,135$660,139$846,442
57$840,752$662,967$616,024$846,837
58$858,193$627,138$568,346$845,830
59$875,262$587,400$516,919$843,280
60$891,852$543,496$461,549$839,034
61$907,845$495,151$402,034$832,927
62$923,107$442,075$338,164$824,778
63$937,489$383,963$269,718$814,390
64$950,826$320,490$196,467$801,551
65$962,931$251,314$118,169$786,026
66$973,597$176,076$34,575$767,563
67$982,593$94,393$0$745,885
68$989,662$5,862$0$731,767
69$994,517$0$0$722,006
70$996,841$0$0$722,150
71$996,280$0$0$720,947
72$992,440$0$0$717,263
73$984,888$0$0$710,770
74$973,138$0$0$701,107
75$956,655$0$0$687,870
76$934,846$0$0$670,612
77$907,051$0$0$648,841
78$872,541$0$0$622,009
79$830,510$0$0$589,510
80$780,065$0$0$550,674
81$720,217$0$0$504,759
82$649,872$0$0$450,945
83$567,823$0$0$388,325
84$472,732$0$0$315,896
85$363,122$0$0$232,551
86$237,360$0$0$137,064
87$93,642$0$0$28,082
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0