Can I retire at age 54 with 283,000?

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 $283,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$23,370$23,162$22,959$22,760$22,567$21,924
2 years$11,569$11,354$11,145$10,942$10,746$10,103
3 years$7,636$7,420$7,212$7,011$6,818$6,195
4 years$5,670$5,454$5,248$5,051$4,862$4,265
5 years$4,491$4,276$4,073$3,880$3,696$3,126
6 years$3,705$3,492$3,291$3,103$2,925$2,381
7 years$3,144$2,932$2,735$2,551$2,379$1,862
8 years$2,723$2,514$2,320$2,140$1,973$1,484
9 years$2,396$2,189$1,998$1,823$1,662$1,199
10 years$2,134$1,929$1,742$1,571$1,416$979
11 years$1,920$1,717$1,533$1,367$1,218$806
12 years$1,742$1,541$1,361$1,199$1,055$668
13 years$1,592$1,393$1,216$1,059$920$556
14 years$1,463$1,266$1,092$940$807$465
15 years$1,351$1,157$986$838$710$391
16 years$1,254$1,061$894$751$628$329
17 years$1,168$977$814$674$557$278
18 years$1,091$903$743$608$495$235
19 years$1,023$837$680$549$441$199
20 years$962$778$624$497$394$169
21 years$906$725$574$451$353$143
22 years$856$676$529$410$316$122
23 years$810$633$489$374$284$104
24 years$768$593$452$341$255$88
25 years$730$556$418$311$229$75
26 years$694$523$388$285$207$64
27 years$661$492$360$261$186$55
28 years$631$464$335$239$168$47
29 years$602$437$312$219$152$40
30 years$576$413$290$201$137$34
31 years$551$390$271$185$124$29
32 years$528$369$253$170$112$25
33 years$507$350$236$156$102$21
34 years$487$332$220$143$92$18
35 years$467$314$206$132$83$15
36 years$449$298$193$122$75$13
37 years$433$283$180$112$68$11
38 years$416$269$169$103$62$10
39 years$401$256$158$95$56$8
40 years$387$244$148$88$51$7
41 years$373$232$139$81$46$6
42 years$360$221$130$75$42$5
43 years$348$211$122$69$38$4
44 years$336$201$115$64$35$4
45 years$325$191$108$59$31$3
46 years$314$183$101$54$29$3
47 years$304$174$95$50$26$2
48 years$295$166$89$46$24$2
49 years$285$159$84$43$21$2
50 years$276$152$79$40$19$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $283,000, adding $6,392 every year, while hoping to spend $20,342 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: 47/27/26 Blend
53$283,000$283,000$283,000$283,000
54$318,459$303,460$299,074$330,795
55$329,298$296,686$287,449$333,340
56$340,561$288,898$274,753$333,604
57$352,270$280,026$260,929$333,490
58$364,447$269,993$245,916$332,972
59$377,118$258,720$229,651$332,024
60$390,310$246,123$212,070$330,618
61$404,052$232,112$193,104$328,727
62$418,373$216,594$172,682$326,319
63$433,309$199,469$150,728$323,364
64$448,894$180,630$127,165$319,830
65$465,167$159,967$101,911$315,683
66$482,171$137,362$74,882$310,889
67$499,950$112,691$45,988$305,413
68$518,553$85,821$15,137$299,217
69$538,033$56,614$0$292,264
70$558,448$24,924$0$289,449
71$579,860$0$0$290,601
72$602,336$0$0$294,297
73$625,949$0$0$305,970
74$650,780$0$0$318,257
75$676,914$0$0$331,200
76$704,446$0$0$344,849
77$733,478$0$0$359,256
78$764,124$0$0$374,478
79$796,503$0$0$390,578
80$830,750$0$0$407,624
81$867,010$0$0$425,691
82$905,442$0$0$444,860
83$946,218$0$0$465,220
84$989,529$0$0$486,869
85$1,035,581$0$0$509,914
86$1,084,602$0$0$534,470
87$1,136,841$0$0$560,667
88$1,192,568$0$0$588,644
89$1,252,082$0$0$618,554
90$1,315,709$0$0$650,566
91$1,383,808$0$0$684,864
92$1,456,771$0$0$721,650
93$1,535,028$0$0$761,147
94$1,619,052$0$0$803,599
95$1,709,361$0$0$849,272
96$1,806,524$0$0$898,460
97$1,911,166$0$0$951,486
98$2,023,973$0$0$1,008,705
99$2,145,700$0$0$1,070,505
100$2,277,174$0$0$1,137,314