Can I retire at age 54 with 713,000?

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 $713,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$58,879$58,354$57,843$57,343$56,856$56,145
2 years$29,148$28,605$28,079$27,569$27,074$26,359
3 years$19,239$18,694$18,169$17,664$17,177$16,480
4 years$14,285$13,742$13,222$12,726$12,251$11,577
5 years$11,314$10,774$10,261$9,775$9,313$8,664
6 years$9,334$8,798$8,292$7,817$7,369$6,746
7 years$7,920$7,388$6,891$6,427$5,993$5,396
8 years$6,860$6,333$5,844$5,391$4,972$4,401
9 years$6,036$5,514$5,034$4,592$4,187$3,642
10 years$5,377$4,860$4,388$3,958$3,567$3,048
11 years$4,839$4,327$3,863$3,445$3,068$2,574
12 years$4,390$3,884$3,429$3,022$2,659$2,189
13 years$4,011$3,510$3,063$2,668$2,318$1,872
14 years$3,686$3,190$2,752$2,368$2,032$1,610
15 years$3,405$2,914$2,485$2,112$1,789$1,389
16 years$3,159$2,674$2,253$1,891$1,582$1,203
17 years$2,942$2,462$2,050$1,699$1,402$1,045
18 years$2,750$2,275$1,872$1,531$1,247$910
19 years$2,578$2,109$1,713$1,384$1,111$794
20 years$2,423$1,960$1,572$1,253$993$694
21 years$2,284$1,825$1,446$1,137$888$607
22 years$2,157$1,704$1,333$1,034$796$532
23 years$2,041$1,594$1,231$942$715$467
24 years$1,935$1,493$1,138$859$642$410
25 years$1,838$1,401$1,054$784$578$361
26 years$1,749$1,317$978$717$521$317
27 years$1,666$1,239$908$656$469$280
28 years$1,589$1,168$844$601$424$246
29 years$1,518$1,102$785$552$383$217
30 years$1,451$1,040$732$506$346$191
31 years$1,389$984$682$465$312$169
32 years$1,331$931$636$427$283$149
33 years$1,277$881$594$393$256$132
34 years$1,226$835$555$361$232$116
35 years$1,178$792$519$333$210$103
36 years$1,132$752$486$306$190$91
37 years$1,090$714$454$282$172$80
38 years$1,049$679$426$260$156$71
39 years$1,011$645$399$240$142$63
40 years$975$614$374$221$128$55
41 years$940$585$350$204$117$49
42 years$908$557$329$188$106$43
43 years$877$530$308$174$96$38
44 years$847$506$290$161$87$34
45 years$819$482$272$148$79$30
46 years$792$460$255$137$72$26
47 years$766$439$240$127$65$23
48 years$742$419$225$117$59$21
49 years$719$400$212$108$54$18
50 years$696$382$199$100$49$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $713,000, adding $2,130 every year, while hoping to spend $32,473 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: 28/50/22 Blend
53$713,000$713,000$713,000$713,000
54$787,923$750,134$739,083$804,479
55$833,740$752,340$729,291$819,768
56$883,142$753,565$718,083$833,171
57$936,461$753,728$705,376$846,887
58$994,060$752,740$691,087$860,963
59$1,056,339$750,510$675,123$875,453
60$1,123,739$746,938$657,393$890,420
61$1,196,743$741,921$637,799$905,936
62$1,275,883$735,346$616,236$922,083
63$1,361,742$727,098$592,600$938,957
64$1,454,964$717,050$566,776$956,664
65$1,556,256$705,071$538,649$975,328
66$1,666,396$691,021$508,095$995,086
67$1,786,239$674,752$474,987$1,016,096
68$1,916,727$656,106$439,191$1,038,536
69$2,058,896$634,918$400,566$1,062,607
70$2,213,886$611,012$358,968$1,088,536
71$2,382,952$584,201$314,243$1,116,576
72$2,567,475$554,289$266,232$1,147,015
73$2,768,975$521,067$214,769$1,180,176
74$2,989,127$484,316$159,680$1,216,419
75$3,229,772$443,801$100,783$1,256,150
76$3,492,939$399,278$37,890$1,299,822
77$3,780,862$350,485$0$1,347,944
78$4,095,999$297,149$0$1,407,945
79$4,441,060$238,977$0$1,483,535
80$4,819,025$175,665$0$1,566,570
81$5,233,180$106,886$0$1,657,893
82$5,687,141$32,301$0$1,758,440
83$6,184,892$0$0$1,869,250
84$6,730,819$0$0$2,018,137
85$7,329,756$0$0$2,201,095
86$7,987,025$0$0$2,401,993
87$8,708,488$0$0$2,622,640
88$9,500,605$0$0$2,865,025
89$10,370,488$0$0$3,131,342
90$11,325,976$0$0$3,424,008
91$12,375,701$0$0$3,745,683
92$13,529,174$0$0$4,099,300
93$14,796,873$0$0$4,488,090
94$16,190,340$0$0$4,915,613
95$17,722,293$0$0$5,385,790
96$19,406,741$0$0$5,902,941
97$21,259,122$0$0$6,471,828
98$23,296,442$0$0$7,097,695
99$25,537,439$0$0$7,786,321
100$28,002,757$0$0$8,544,074