Can I retire at age 54 with 308,000?

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 $308,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$25,434$25,208$24,987$24,771$24,560$24,447
2 years$12,591$12,357$12,129$11,909$11,695$11,581
3 years$8,311$8,075$7,849$7,630$7,420$7,308
4 years$6,171$5,936$5,712$5,497$5,292$5,183
5 years$4,887$4,654$4,433$4,222$4,023$3,918
6 years$4,032$3,800$3,582$3,377$3,183$3,082
7 years$3,421$3,192$2,977$2,776$2,589$2,491
8 years$2,963$2,736$2,525$2,329$2,148$2,054
9 years$2,607$2,382$2,174$1,984$1,809$1,719
10 years$2,323$2,100$1,896$1,710$1,541$1,455
11 years$2,090$1,869$1,669$1,488$1,325$1,243
12 years$1,896$1,678$1,481$1,305$1,149$1,070
13 years$1,733$1,516$1,323$1,152$1,002$926
14 years$1,592$1,378$1,189$1,023$878$806
15 years$1,471$1,259$1,074$912$773$705
16 years$1,365$1,155$973$817$683$618
17 years$1,271$1,064$886$734$606$544
18 years$1,188$983$808$661$539$480
19 years$1,114$911$740$598$480$425
20 years$1,047$847$679$541$429$376
21 years$986$789$625$491$384$334
22 years$932$736$576$447$344$297
23 years$882$688$532$407$309$265
24 years$836$645$492$371$278$236
25 years$794$605$455$339$250$210
26 years$755$569$422$310$225$188
27 years$720$535$392$284$203$168
28 years$686$504$365$260$183$150
29 years$656$476$339$238$165$135
30 years$627$449$316$219$149$121
31 years$600$425$295$201$135$108
32 years$575$402$275$185$122$97
33 years$552$381$257$170$111$87
34 years$530$361$240$156$100$78
35 years$509$342$224$144$91$70
36 years$489$325$210$132$82$63
37 years$471$309$196$122$74$56
38 years$453$293$184$112$67$51
39 years$437$279$172$104$61$45
40 years$421$265$161$96$55$41
41 years$406$253$151$88$50$37
42 years$392$240$142$81$46$33
43 years$379$229$133$75$41$30
44 years$366$218$125$69$38$27
45 years$354$208$117$64$34$24
46 years$342$199$110$59$31$22
47 years$331$190$104$55$28$19
48 years$321$181$97$51$26$17
49 years$310$173$92$47$23$16
50 years$301$165$86$43$21$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $308,000, adding $5,853 every year, while hoping to spend $20,183 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: 66/29/5 Blend
53$308,000$308,000$308,000$308,000
54$345,453$329,129$324,355$367,638
55$359,215$323,782$313,747$377,762
56$373,704$317,496$302,106$385,842
57$388,973$310,205$289,378$394,130
58$405,080$301,837$275,504$402,642
59$422,087$292,316$260,422$411,398
60$440,063$281,562$244,070$420,420
61$459,083$269,492$226,379$429,733
62$479,228$256,016$207,282$439,366
63$500,587$241,039$186,704$449,352
64$523,259$224,461$164,569$459,726
65$547,348$206,177$140,799$470,530
66$572,972$186,074$115,311$481,811
67$600,258$164,034$88,017$493,621
68$629,346$139,934$58,827$506,019
69$660,389$113,640$27,647$519,071
70$693,553$85,013$0$532,852
71$729,023$53,907$0$547,744
72$767,001$20,165$0$565,136
73$807,705$0$0$583,662
74$851,380$0$0$608,670
75$898,290$0$0$642,456
76$948,727$0$0$678,797
77$1,003,011$0$0$717,925
78$1,061,493$0$0$760,095
79$1,124,561$0$0$805,589
80$1,192,637$0$0$854,714
81$1,266,188$0$0$907,809
82$1,345,727$0$0$965,245
83$1,431,815$0$0$1,027,433
84$1,525,073$0$0$1,094,822
85$1,626,180$0$0$1,167,905
86$1,735,884$0$0$1,247,228
87$1,855,010$0$0$1,333,388
88$1,984,461$0$0$1,427,043
89$2,125,234$0$0$1,528,917
90$2,278,424$0$0$1,639,805
91$2,445,236$0$0$1,760,585
92$2,626,998$0$0$1,892,220
93$2,825,167$0$0$2,035,772
94$3,041,352$0$0$2,192,408
95$3,277,321$0$0$2,363,415
96$3,535,019$0$0$2,550,206
97$3,816,590$0$0$2,754,341
98$4,124,393$0$0$2,977,533
99$4,461,025$0$0$3,221,672
100$4,829,345$0$0$3,488,837