Can I retire at age 54 with 712,000?

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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$58,796$58,273$57,762$57,263$56,776$55,835
2 years$29,107$28,565$28,040$27,530$27,036$26,091
3 years$19,212$18,668$18,143$17,639$17,153$16,233
4 years$14,265$13,723$13,204$12,708$12,234$11,346
5 years$11,298$10,759$10,247$9,761$9,300$8,447
6 years$9,321$8,785$8,281$7,806$7,359$6,542
7 years$7,909$7,378$6,881$6,418$5,984$5,203
8 years$6,850$6,324$5,836$5,384$4,965$4,219
9 years$6,028$5,506$5,027$4,586$4,181$3,471
10 years$5,370$4,854$4,382$3,953$3,562$2,887
11 years$4,832$4,321$3,858$3,440$3,064$2,423
12 years$4,384$3,878$3,424$3,017$2,655$2,047
13 years$4,005$3,505$3,059$2,664$2,315$1,740
14 years$3,681$3,186$2,749$2,365$2,030$1,486
15 years$3,400$2,910$2,482$2,109$1,787$1,274
16 years$3,154$2,670$2,250$1,888$1,579$1,095
17 years$2,938$2,459$2,047$1,697$1,400$944
18 years$2,746$2,272$1,869$1,529$1,245$816
19 years$2,574$2,106$1,711$1,382$1,110$707
20 years$2,420$1,957$1,570$1,251$991$613
21 years$2,280$1,823$1,444$1,136$887$533
22 years$2,154$1,701$1,331$1,033$795$464
23 years$2,038$1,591$1,229$940$714$404
24 years$1,933$1,491$1,137$858$642$352
25 years$1,836$1,399$1,053$783$577$307
26 years$1,746$1,315$976$716$520$268
27 years$1,664$1,238$907$656$469$234
28 years$1,587$1,166$843$601$423$205
29 years$1,516$1,100$784$551$382$179
30 years$1,449$1,039$731$505$345$156
31 years$1,387$982$681$464$312$137
32 years$1,329$929$636$427$282$120
33 years$1,275$880$593$392$255$105
34 years$1,224$834$554$361$231$92
35 years$1,176$791$518$332$209$81
36 years$1,131$751$485$306$190$71
37 years$1,088$713$454$282$172$62
38 years$1,048$678$425$260$156$54
39 years$1,010$645$398$240$141$47
40 years$973$613$373$221$128$42
41 years$939$584$350$204$116$36
42 years$906$556$328$188$106$32
43 years$875$530$308$174$96$28
44 years$846$505$289$160$87$25
45 years$818$481$272$148$79$22
46 years$791$459$255$137$72$19
47 years$765$438$240$126$65$17
48 years$741$418$225$117$59$15
49 years$718$400$212$108$54$13
50 years$695$382$199$100$49$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $712,000, adding $3,043 every year, while hoping to spend $24,717 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: 65/23/12 Blend
53$712,000$712,000$712,000$712,000
54$787,763$750,027$738,991$836,627
55$841,816$760,479$737,448$880,078
56$900,554$770,616$735,026$924,365
57$964,429$780,394$731,668$972,131
58$1,033,938$789,771$727,315$1,023,714
59$1,109,627$798,697$721,908$1,079,488
60$1,192,099$807,123$715,382$1,139,863
61$1,282,016$814,995$707,670$1,205,292
62$1,380,106$822,255$698,702$1,276,274
63$1,487,172$828,841$688,404$1,353,362
64$1,604,098$834,687$676,699$1,437,161
65$1,731,854$839,726$663,507$1,528,342
66$1,871,513$843,881$648,744$1,627,643
67$2,024,251$847,075$632,320$1,735,878
68$2,191,366$849,224$614,145$1,853,945
69$2,374,288$850,238$594,121$1,982,834
70$2,574,588$850,023$572,147$2,123,637
71$2,794,001$848,478$548,118$2,277,557
72$3,034,432$845,497$521,924$2,445,921
73$3,297,984$840,967$493,448$2,630,193
74$3,586,971$834,766$462,571$2,831,987
75$3,903,941$826,769$429,166$3,053,082
76$4,251,701$816,839$393,101$3,295,440
77$4,633,344$804,833$354,240$3,561,225
78$5,052,276$790,601$312,438$3,852,821
79$5,512,248$773,980$267,544$4,172,859
80$6,017,393$754,802$219,403$4,524,239
81$6,572,265$732,884$167,851$4,910,159
82$7,181,878$708,038$112,716$5,334,144
83$7,851,758$680,060$53,820$5,800,080
84$8,587,991$648,736$0$6,312,254
85$9,397,284$613,842$0$6,876,547
86$10,287,024$575,138$0$7,504,440
87$11,265,351$532,370$0$8,194,805
88$12,341,232$485,271$0$8,954,001
89$13,524,548$433,560$0$9,789,035
90$14,826,184$376,937$0$10,707,635
91$16,258,134$315,086$0$11,718,314
92$17,833,613$247,675$0$12,830,458
93$19,567,181$174,350$0$14,054,411
94$21,474,881$94,741$0$15,401,575
95$23,574,390$8,454$0$16,884,517
96$25,885,184$0$0$18,517,088
97$28,428,725$0$0$20,336,048
98$31,228,659$0$0$22,340,777
99$34,311,044$0$0$24,547,797
100$37,704,588$0$0$26,977,673