Can I retire at age 54 with 424,000?

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 $424,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$35,014$34,702$34,397$34,100$33,810$32,663
2 years$17,333$17,011$16,698$16,394$16,100$14,955
3 years$11,441$11,117$10,805$10,504$10,215$9,109
4 years$8,495$8,172$7,863$7,568$7,285$6,227
5 years$6,728$6,407$6,102$5,813$5,538$4,530
6 years$5,551$5,232$4,931$4,648$4,382$3,425
7 years$4,710$4,394$4,098$3,822$3,564$2,657
8 years$4,079$3,766$3,475$3,206$2,957$2,100
9 years$3,589$3,279$2,993$2,731$2,490$1,682
10 years$3,198$2,890$2,610$2,354$2,121$1,362
11 years$2,877$2,573$2,298$2,049$1,825$1,111
12 years$2,611$2,309$2,039$1,797$1,581$912
13 years$2,385$2,087$1,822$1,586$1,379$753
14 years$2,192$1,897$1,637$1,408$1,209$623
15 years$2,025$1,733$1,478$1,256$1,064$518
16 years$1,878$1,590$1,340$1,125$940$432
17 years$1,750$1,464$1,219$1,010$834$361
18 years$1,635$1,353$1,113$911$741$302
19 years$1,533$1,254$1,019$823$661$253
20 years$1,441$1,165$935$745$590$212
21 years$1,358$1,085$860$676$528$178
22 years$1,283$1,013$793$615$474$150
23 years$1,214$948$732$560$425$126
24 years$1,151$888$677$511$382$106
25 years$1,093$833$627$466$344$89
26 years$1,040$783$581$426$310$75
27 years$991$737$540$390$279$64
28 years$945$694$502$358$252$54
29 years$903$655$467$328$227$45
30 years$863$619$435$301$206$38
31 years$826$585$406$276$186$32
32 years$792$553$378$254$168$27
33 years$759$524$353$234$152$23
34 years$729$497$330$215$138$19
35 years$700$471$309$198$125$16
36 years$673$447$289$182$113$14
37 years$648$425$270$168$102$12
38 years$624$404$253$155$93$10
39 years$601$384$237$143$84$8
40 years$580$365$222$132$76$7
41 years$559$348$208$121$69$6
42 years$540$331$195$112$63$5
43 years$521$315$183$103$57$4
44 years$504$301$172$96$52$4
45 years$487$287$162$88$47$3
46 years$471$274$152$81$43$3
47 years$456$261$143$75$39$2
48 years$441$249$134$70$35$2
49 years$427$238$126$64$32$2
50 years$414$227$118$59$29$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $424,000, adding $5,775 every year, while hoping to spend $28,134 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: 49/27/24 Blend
53$424,000$424,000$424,000$424,000
54$473,205$450,733$444,161$492,928
55$491,537$442,884$429,106$499,427
56$510,797$433,709$412,604$503,202
57$531,048$423,110$394,576$506,733
58$552,362$410,990$374,941$510,010
59$574,815$397,240$353,614$513,024
60$598,491$381,749$330,504$515,765
61$623,480$364,398$305,519$518,225
62$649,882$345,061$278,562$520,400
63$677,806$323,605$249,530$522,283
64$707,370$299,889$218,316$523,874
65$738,703$273,765$184,811$525,172
66$771,946$245,075$148,897$526,180
67$807,253$213,652$110,454$526,905
68$844,794$179,322$69,355$527,356
69$884,753$141,899$25,468$527,548
70$927,331$101,186$0$527,501
71$972,752$56,976$0$532,712
72$1,021,256$9,052$0$545,056
73$1,073,111$0$0$558,082
74$1,128,606$0$0$584,601
75$1,188,063$0$0$615,925
76$1,251,830$0$0$649,551
77$1,320,294$0$0$685,688
78$1,393,875$0$0$724,562
79$1,473,037$0$0$766,423
80$1,558,288$0$0$811,544
81$1,650,188$0$0$860,226
82$1,749,350$0$0$912,800
83$1,856,447$0$0$969,629
84$1,972,222$0$0$1,031,111
85$2,097,488$0$0$1,097,686
86$2,233,140$0$0$1,169,835
87$2,380,162$0$0$1,248,090
88$2,539,637$0$0$1,333,033
89$2,712,754$0$0$1,425,305
90$2,900,822$0$0$1,525,613
91$3,105,282$0$0$1,634,733
92$3,327,716$0$0$1,753,518
93$3,569,868$0$0$1,882,909
94$3,833,656$0$0$2,023,939
95$4,121,189$0$0$2,177,748
96$4,434,790$0$0$2,345,586
97$4,777,016$0$0$2,528,834
98$5,150,680$0$0$2,729,009
99$5,558,879$0$0$2,947,783
100$6,005,024$0$0$3,186,994