Can I retire at age 54 with 497,000?

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 $497,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$41,042$40,676$40,320$39,971$39,631$39,431
2 years$20,318$19,939$19,573$19,217$18,872$18,670
3 years$13,411$13,031$12,665$12,313$11,973$11,776
4 years$9,958$9,579$9,217$8,870$8,539$8,348
5 years$7,887$7,510$7,153$6,813$6,492$6,306
6 years$6,506$6,132$5,780$5,449$5,137$4,958
7 years$5,521$5,150$4,803$4,480$4,177$4,006
8 years$4,782$4,415$4,074$3,758$3,466$3,301
9 years$4,207$3,844$3,509$3,201$2,918$2,761
10 years$3,748$3,388$3,059$2,759$2,487$2,335
11 years$3,373$3,016$2,693$2,401$2,139$1,994
12 years$3,060$2,707$2,390$2,106$1,853$1,715
13 years$2,796$2,446$2,135$1,860$1,616$1,484
14 years$2,569$2,224$1,919$1,651$1,417$1,291
15 years$2,373$2,031$1,732$1,472$1,247$1,128
16 years$2,202$1,864$1,571$1,318$1,102$989
17 years$2,051$1,716$1,429$1,184$977$870
18 years$1,917$1,586$1,305$1,067$869$767
19 years$1,797$1,470$1,194$964$775$678
20 years$1,689$1,366$1,096$873$692$600
21 years$1,592$1,272$1,008$793$619$532
22 years$1,503$1,188$929$721$555$473
23 years$1,423$1,111$858$656$498$421
24 years$1,349$1,041$793$599$448$375
25 years$1,281$977$735$547$403$334
26 years$1,219$918$682$500$363$298
27 years$1,161$864$633$458$327$266
28 years$1,108$814$588$419$295$238
29 years$1,058$768$548$384$267$213
30 years$1,012$725$510$353$241$191
31 years$968$686$475$324$218$171
32 years$928$649$444$298$197$153
33 years$890$614$414$274$178$137
34 years$854$582$387$252$161$123
35 years$821$552$362$232$146$110
36 years$789$524$338$214$132$99
37 years$760$498$317$197$120$89
38 years$731$473$297$181$109$80
39 years$705$450$278$167$99$71
40 years$679$428$261$154$90$64
41 years$656$407$244$142$81$58
42 years$633$388$229$131$74$52
43 years$611$370$215$121$67$46
44 years$591$352$202$112$61$42
45 years$571$336$190$103$55$37
46 years$552$321$178$96$50$34
47 years$534$306$167$88$45$30
48 years$517$292$157$82$41$27
49 years$501$279$148$75$37$24
50 years$485$266$139$70$34$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $497,000, adding $4,984 every year, while hoping to spend $28,649 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: 39/43/18 Blend
53$497,000$497,000$497,000$497,000
54$552,835$526,494$518,790$571,250
55$578,742$521,810$505,688$580,216
56$606,331$515,936$491,186$586,790
57$635,744$508,784$475,207$593,299
58$667,135$500,260$457,672$599,752
59$700,674$490,264$438,496$606,161
60$736,548$478,692$417,590$612,542
61$774,959$465,431$394,863$618,916
62$816,132$450,364$370,217$625,307
63$860,311$433,365$343,553$631,746
64$907,766$414,303$314,766$638,270
65$958,792$393,038$283,744$644,922
66$1,013,713$369,421$250,374$651,753
67$1,072,885$343,297$214,535$658,824
68$1,136,701$314,499$176,103$666,204
69$1,205,588$282,853$134,946$673,975
70$1,280,019$248,175$90,929$682,233
71$1,360,514$210,268$43,907$691,084
72$1,447,641$168,926$0$700,653
73$1,542,029$123,932$0$712,288
74$1,644,367$75,056$0$734,024
75$1,755,412$22,053$0$757,635
76$1,875,998$0$0$783,363
77$2,007,043$0$0$828,198
78$2,149,554$0$0$888,364
79$2,304,642$0$0$953,900
80$2,473,527$0$0$1,025,331
81$2,657,554$0$0$1,103,233
82$2,858,201$0$0$1,188,241
83$3,077,096$0$0$1,281,053
84$3,316,030$0$0$1,382,437
85$3,576,975$0$0$1,493,240
86$3,862,101$0$0$1,614,393
87$4,173,799$0$0$1,746,923
88$4,514,700$0$0$1,891,958
89$4,887,701$0$0$2,050,743
90$5,295,991$0$0$2,224,646
91$5,743,084$0$0$2,415,176
92$6,232,848$0$0$2,623,995
93$6,769,543$0$0$2,852,931
94$7,357,861$0$0$3,103,999
95$8,002,969$0$0$3,379,418
96$8,710,557$0$0$3,681,632
97$9,486,895$0$0$4,013,334
98$10,338,887$0$0$4,377,489
99$11,274,139$0$0$4,777,364
100$12,301,028$0$0$5,216,557