Can I retire at age 54 with 711,000?

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 $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%11.9%
1 years$58,714$58,191$57,680$57,182$56,696$56,245
2 years$29,066$28,525$28,000$27,492$26,998$26,543
3 years$19,185$18,641$18,118$17,614$17,129$16,684
4 years$14,245$13,703$13,185$12,690$12,216$11,786
5 years$11,282$10,744$10,232$9,747$9,287$8,871
6 years$9,308$8,773$8,269$7,795$7,348$6,948
7 years$7,898$7,368$6,872$6,409$5,976$5,592
8 years$6,841$6,315$5,828$5,376$4,958$4,590
9 years$6,019$5,499$5,019$4,579$4,175$3,823
10 years$5,362$4,847$4,376$3,947$3,557$3,221
11 years$4,825$4,315$3,853$3,435$3,060$2,738
12 years$4,378$3,873$3,419$3,013$2,651$2,345
13 years$3,999$3,500$3,055$2,660$2,312$2,020
14 years$3,676$3,181$2,745$2,361$2,027$1,749
15 years$3,395$2,906$2,478$2,106$1,784$1,521
16 years$3,150$2,666$2,247$1,886$1,577$1,327
17 years$2,934$2,456$2,044$1,694$1,398$1,161
18 years$2,742$2,269$1,866$1,527$1,243$1,019
19 years$2,571$2,103$1,709$1,380$1,108$896
20 years$2,416$1,954$1,568$1,250$990$790
21 years$2,277$1,820$1,442$1,134$886$697
22 years$2,151$1,699$1,329$1,031$794$616
23 years$2,035$1,589$1,227$939$713$545
24 years$1,930$1,489$1,135$856$641$483
25 years$1,833$1,397$1,051$782$576$428
26 years$1,744$1,313$975$715$519$380
27 years$1,661$1,236$905$655$468$338
28 years$1,585$1,165$842$600$422$300
29 years$1,514$1,099$783$550$381$267
30 years$1,447$1,038$730$505$345$238
31 years$1,385$981$680$464$312$212
32 years$1,328$928$635$426$282$188
33 years$1,273$879$593$392$255$168
34 years$1,222$833$554$360$231$150
35 years$1,174$790$518$332$209$133
36 years$1,129$750$484$306$190$119
37 years$1,087$712$453$282$172$106
38 years$1,046$677$424$260$156$95
39 years$1,008$644$398$239$141$84
40 years$972$612$373$221$128$75
41 years$938$583$349$204$116$67
42 years$905$555$328$188$105$60
43 years$874$529$308$173$96$54
44 years$845$504$289$160$87$48
45 years$817$481$271$148$79$43
46 years$790$459$255$137$72$38
47 years$764$438$239$126$65$34
48 years$740$418$225$117$59$30
49 years$717$399$211$108$54$27
50 years$694$381$199$100$49$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $711,000, adding $6,050 every year, while hoping to spend $53,176 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: 48/30/22 Blend
53$711,000$711,000$711,000$711,000
54$789,763$752,080$741,059$822,484
55$813,740$732,353$709,306$826,201
56$838,380$709,877$674,706$824,421
57$863,695$684,461$637,110$821,396
58$889,696$655,904$596,357$817,031
59$916,394$623,992$552,283$811,228
60$943,796$588,498$504,715$803,881
61$971,913$549,184$453,473$794,878
62$1,000,751$505,796$398,367$784,101
63$1,030,316$458,069$339,200$771,424
64$1,060,612$405,718$275,768$756,715
65$1,091,643$348,447$207,854$739,831
66$1,123,408$285,938$135,235$720,624
67$1,155,907$217,860$57,676$698,934
68$1,189,134$143,861$0$674,593
69$1,223,084$63,568$0$653,312
70$1,257,745$0$0$643,844
71$1,293,104$0$0$640,226
72$1,329,142$0$0$657,910
73$1,365,836$0$0$675,897
74$1,403,159$0$0$694,172
75$1,441,075$0$0$712,715
76$1,479,546$0$0$731,503
77$1,518,521$0$0$750,510
78$1,557,946$0$0$769,703
79$1,597,756$0$0$789,048
80$1,637,874$0$0$808,501
81$1,678,215$0$0$828,017
82$1,718,678$0$0$847,540
83$1,759,152$0$0$867,010
84$1,799,506$0$0$886,355
85$1,839,596$0$0$905,497
86$1,879,255$0$0$924,347
87$1,918,299$0$0$942,804
88$1,956,517$0$0$960,754
89$1,993,673$0$0$978,073
90$2,029,504$0$0$994,616
91$2,063,712$0$0$1,010,225
92$2,095,966$0$0$1,024,722
93$2,125,896$0$0$1,037,909
94$2,153,087$0$0$1,049,564
95$2,177,077$0$0$1,059,440
96$2,197,352$0$0$1,067,262
97$2,213,339$0$0$1,072,724
98$2,224,400$0$0$1,075,486
99$2,229,826$0$0$1,075,171
100$2,228,830$0$0$1,071,358