Can I retire at age 54 with 713,000?

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 $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%19.7%
1 years$58,879$58,354$57,843$57,343$56,856$54,643
2 years$29,148$28,605$28,079$27,569$27,074$24,872
3 years$19,239$18,694$18,169$17,664$17,177$15,054
4 years$14,285$13,742$13,222$12,726$12,251$10,223
5 years$11,314$10,774$10,261$9,775$9,313$7,386
6 years$9,334$8,798$8,292$7,817$7,369$5,545
7 years$7,920$7,388$6,891$6,427$5,993$4,270
8 years$6,860$6,333$5,844$5,391$4,972$3,349
9 years$6,036$5,514$5,034$4,592$4,187$2,661
10 years$5,377$4,860$4,388$3,958$3,567$2,136
11 years$4,839$4,327$3,863$3,445$3,068$1,728
12 years$4,390$3,884$3,429$3,022$2,659$1,407
13 years$4,011$3,510$3,063$2,668$2,318$1,150
14 years$3,686$3,190$2,752$2,368$2,032$945
15 years$3,405$2,914$2,485$2,112$1,789$778
16 years$3,159$2,674$2,253$1,891$1,582$642
17 years$2,942$2,462$2,050$1,699$1,402$531
18 years$2,750$2,275$1,872$1,531$1,247$440
19 years$2,578$2,109$1,713$1,384$1,111$365
20 years$2,423$1,960$1,572$1,253$993$304
21 years$2,284$1,825$1,446$1,137$888$252
22 years$2,157$1,704$1,333$1,034$796$210
23 years$2,041$1,594$1,231$942$715$175
24 years$1,935$1,493$1,138$859$642$146
25 years$1,838$1,401$1,054$784$578$121
26 years$1,749$1,317$978$717$521$101
27 years$1,666$1,239$908$656$469$84
28 years$1,589$1,168$844$601$424$71
29 years$1,518$1,102$785$552$383$59
30 years$1,451$1,040$732$506$346$49
31 years$1,389$984$682$465$312$41
32 years$1,331$931$636$427$283$34
33 years$1,277$881$594$393$256$29
34 years$1,226$835$555$361$232$24
35 years$1,178$792$519$333$210$20
36 years$1,132$752$486$306$190$17
37 years$1,090$714$454$282$172$14
38 years$1,049$679$426$260$156$12
39 years$1,011$645$399$240$142$10
40 years$975$614$374$221$128$8
41 years$940$585$350$204$117$7
42 years$908$557$329$188$106$6
43 years$877$530$308$174$96$5
44 years$847$506$290$161$87$4
45 years$819$482$272$148$79$3
46 years$792$460$255$137$72$3
47 years$766$439$240$127$65$2
48 years$742$419$225$117$59$2
49 years$719$400$212$108$54$2
50 years$696$382$199$100$49$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $713,000, adding $3,665 every year, while hoping to spend $50,538 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: 39/38/23 Blend
53$713,000$713,000$713,000$713,000
54$789,506$751,717$740,666$814,774
55$816,264$734,780$711,706$816,443
56$844,057$715,318$680,083$813,224
57$872,938$693,155$645,652$808,734
58$902,962$668,105$608,266$802,884
59$934,190$639,968$567,769$795,586
60$966,686$608,534$523,998$786,744
61$1,000,518$573,583$476,782$776,259
62$1,035,761$534,878$425,944$764,028
63$1,072,494$492,173$371,299$749,942
64$1,110,803$445,204$312,652$733,886
65$1,150,781$393,695$249,801$715,743
66$1,192,526$337,352$182,535$695,389
67$1,236,147$275,865$110,634$672,692
68$1,281,760$208,909$33,866$647,520
69$1,329,491$136,136$0$619,730
70$1,379,475$57,183$0$600,972
71$1,431,860$0$0$588,934
72$1,486,807$0$0$587,051
73$1,544,488$0$0$610,205
74$1,605,093$0$0$634,564
75$1,668,826$0$0$660,214
76$1,735,910$0$0$687,249
77$1,806,588$0$0$715,773
78$1,881,124$0$0$745,896
79$1,959,806$0$0$777,741
80$2,042,949$0$0$811,441
81$2,130,893$0$0$847,140
82$2,224,015$0$0$884,999
83$2,322,721$0$0$925,189
84$2,427,459$0$0$967,902
85$2,538,717$0$0$1,013,344
86$2,657,028$0$0$1,061,743
87$2,782,976$0$0$1,113,347
88$2,917,202$0$0$1,168,429
89$3,060,406$0$0$1,227,287
90$3,213,353$0$0$1,290,248
91$3,376,887$0$0$1,357,672
92$3,551,928$0$0$1,429,951
93$3,739,486$0$0$1,507,517
94$3,940,671$0$0$1,590,844
95$4,156,700$0$0$1,680,451
96$4,388,907$0$0$1,776,910
97$4,638,758$0$0$1,880,846
98$4,907,863$0$0$1,992,949
99$5,197,989$0$0$2,113,974
100$5,511,078$0$0$2,244,753