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%15.2%
1 years$58,879$58,354$57,843$57,343$56,856$55,639
2 years$29,148$28,605$28,079$27,569$27,074$25,855
3 years$19,239$18,694$18,169$17,664$17,177$15,992
4 years$14,285$13,742$13,222$12,726$12,251$11,110
5 years$11,314$10,774$10,261$9,775$9,313$8,220
6 years$9,334$8,798$8,292$7,817$7,369$6,324
7 years$7,920$7,388$6,891$6,427$5,993$4,997
8 years$6,860$6,333$5,844$5,391$4,972$4,024
9 years$6,036$5,514$5,034$4,592$4,187$3,286
10 years$5,377$4,860$4,388$3,958$3,567$2,714
11 years$4,839$4,327$3,863$3,445$3,068$2,260
12 years$4,390$3,884$3,429$3,022$2,659$1,895
13 years$4,011$3,510$3,063$2,668$2,318$1,598
14 years$3,686$3,190$2,752$2,368$2,032$1,353
15 years$3,405$2,914$2,485$2,112$1,789$1,150
16 years$3,159$2,674$2,253$1,891$1,582$981
17 years$2,942$2,462$2,050$1,699$1,402$839
18 years$2,750$2,275$1,872$1,531$1,247$719
19 years$2,578$2,109$1,713$1,384$1,111$617
20 years$2,423$1,960$1,572$1,253$993$530
21 years$2,284$1,825$1,446$1,137$888$457
22 years$2,157$1,704$1,333$1,034$796$394
23 years$2,041$1,594$1,231$942$715$340
24 years$1,935$1,493$1,138$859$642$293
25 years$1,838$1,401$1,054$784$578$253
26 years$1,749$1,317$978$717$521$219
27 years$1,666$1,239$908$656$469$190
28 years$1,589$1,168$844$601$424$164
29 years$1,518$1,102$785$552$383$142
30 years$1,451$1,040$732$506$346$123
31 years$1,389$984$682$465$312$107
32 years$1,331$931$636$427$283$92
33 years$1,277$881$594$393$256$80
34 years$1,226$835$555$361$232$69
35 years$1,178$792$519$333$210$60
36 years$1,132$752$486$306$190$52
37 years$1,090$714$454$282$172$45
38 years$1,049$679$426$260$156$39
39 years$1,011$645$399$240$142$34
40 years$975$614$374$221$128$30
41 years$940$585$350$204$117$26
42 years$908$557$329$188$106$22
43 years$877$530$308$174$96$19
44 years$847$506$290$161$87$17
45 years$819$482$272$148$79$15
46 years$792$460$255$137$72$13
47 years$766$439$240$127$65$11
48 years$742$419$225$117$59$10
49 years$719$400$212$108$54$8
50 years$696$382$199$100$49$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $713,000, adding $5,126 every year, while hoping to spend $41,387 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: 44/27/29 Blend
53$713,000$713,000$713,000$713,000
54$791,013$753,224$742,173$818,964
55$827,661$746,097$723,000$832,314
56$866,660$737,233$701,798$842,453
57$908,206$726,504$678,455$852,660
58$952,514$713,774$652,854$862,965
59$999,819$698,897$624,873$873,406
60$1,050,378$681,721$594,384$884,025
61$1,104,475$662,084$561,255$894,874
62$1,162,419$639,813$525,344$906,012
63$1,224,550$614,728$486,507$917,510
64$1,291,240$586,636$444,591$929,449
65$1,362,899$555,334$399,438$941,920
66$1,439,976$520,606$350,880$955,032
67$1,522,964$482,226$298,744$968,907
68$1,612,403$439,952$242,850$983,685
69$1,708,890$393,531$183,007$999,527
70$1,813,077$342,694$119,017$1,016,613
71$1,925,682$287,158$50,676$1,035,150
72$2,047,495$226,622$0$1,055,372
73$2,179,382$160,769$0$1,084,428
74$2,322,298$89,265$0$1,132,911
75$2,477,291$11,758$0$1,185,531
76$2,645,513$0$0$1,242,742
77$2,828,234$0$0$1,326,476
78$3,026,848$0$0$1,421,366
79$3,242,890$0$0$1,524,663
80$3,478,048$0$0$1,637,182
81$3,734,180$0$0$1,759,824
82$4,013,331$0$0$1,893,578
83$4,317,751$0$0$2,039,535
84$4,649,916$0$0$2,198,892
85$5,012,553$0$0$2,372,971
86$5,408,660$0$0$2,563,224
87$5,841,543$0$0$2,771,251
88$6,314,838$0$0$2,998,815
89$6,832,549$0$0$3,247,854
90$7,399,085$0$0$3,520,505
91$8,019,300$0$0$3,819,119
92$8,698,540$0$0$4,146,287
93$9,442,694$0$0$4,504,861
94$10,258,243$0$0$4,897,982
95$11,152,329$0$0$5,329,112
96$12,132,815$0$0$5,802,059
97$13,208,364$0$0$6,321,023
98$14,388,516$0$0$6,890,627
99$15,683,780$0$0$7,515,963
100$17,105,731$0$0$8,202,642