Can I retire at age 54 with 585,000?

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 $585,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$48,309$47,878$47,459$47,049$46,649$46,239
2 years$23,915$23,470$23,038$22,620$22,214$21,800
3 years$15,785$15,338$14,907$14,493$14,093$13,690
4 years$11,721$11,275$10,849$10,441$10,051$9,661
5 years$9,283$8,840$8,419$8,020$7,641$7,264
6 years$7,658$7,218$6,804$6,413$6,046$5,683
7 years$6,498$6,062$5,654$5,273$4,917$4,569
8 years$5,628$5,196$4,795$4,423$4,079$3,746
9 years$4,952$4,524$4,130$3,768$3,435$3,116
10 years$4,412$3,988$3,601$3,248$2,927$2,622
11 years$3,970$3,550$3,170$2,827$2,517$2,226
12 years$3,602$3,186$2,813$2,479$2,181$1,904
13 years$3,291$2,880$2,513$2,189$1,902$1,639
14 years$3,024$2,617$2,258$1,943$1,668$1,417
15 years$2,793$2,391$2,039$1,733$1,468$1,230
16 years$2,592$2,194$1,849$1,552$1,298$1,072
17 years$2,414$2,020$1,682$1,394$1,151$937
18 years$2,256$1,867$1,536$1,256$1,023$821
19 years$2,115$1,730$1,406$1,135$912$721
20 years$1,988$1,608$1,290$1,028$814$634
21 years$1,874$1,498$1,187$933$729$559
22 years$1,770$1,398$1,094$848$653$493
23 years$1,675$1,308$1,010$773$586$436
24 years$1,588$1,225$934$705$527$386
25 years$1,508$1,150$865$644$474$341
26 years$1,435$1,080$802$588$427$303
27 years$1,367$1,017$745$539$385$268
28 years$1,304$958$693$493$348$238
29 years$1,245$904$644$453$314$212
30 years$1,191$854$600$415$284$188
31 years$1,140$807$560$381$256$167
32 years$1,092$764$522$351$232$149
33 years$1,048$723$488$322$210$132
34 years$1,006$685$456$297$190$118
35 years$966$650$426$273$172$105
36 years$929$617$398$251$156$93
37 years$894$586$373$232$141$83
38 years$861$557$349$214$128$74
39 years$830$530$327$197$116$66
40 years$800$504$307$182$105$59
41 years$772$480$288$168$96$52
42 years$745$457$270$155$87$47
43 years$719$435$253$143$79$41
44 years$695$415$238$132$71$37
45 years$672$396$223$122$65$33
46 years$650$377$210$112$59$29
47 years$629$360$197$104$53$26
48 years$609$344$185$96$49$23
49 years$590$328$174$89$44$21
50 years$571$314$163$82$40$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $585,000, adding $5,394 every year, while hoping to spend $26,579 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: 66/21/13 Blend
53$585,000$585,000$585,000$585,000
54$650,234$619,229$610,161$690,860
55$688,278$621,291$602,322$720,705
56$729,312$622,564$593,329$749,695
57$773,612$622,980$583,116$780,710
58$821,483$622,469$571,613$813,948
59$873,259$620,955$558,747$849,623
60$929,308$618,358$544,442$887,978
61$990,034$614,594$528,617$929,274
62$1,055,880$609,572$511,189$973,806
63$1,127,337$603,197$492,070$1,021,896
64$1,204,940$595,369$471,169$1,073,899
65$1,289,281$585,979$448,390$1,130,209
66$1,381,010$574,914$423,634$1,191,262
67$1,480,842$562,055$396,795$1,257,535
68$1,589,565$547,272$367,764$1,329,561
69$1,708,044$530,432$336,428$1,407,923
70$1,837,233$511,392$302,667$1,493,267
71$1,978,181$490,000$266,357$1,586,307
72$2,132,043$466,097$227,366$1,687,829
73$2,300,089$439,514$185,561$1,798,703
74$2,483,719$410,071$140,798$1,919,888
75$2,684,473$377,579$92,930$2,052,443
76$2,904,048$341,839$41,802$2,197,538
77$3,144,311$302,639$0$2,356,462
78$3,407,318$259,756$0$2,532,409
79$3,695,334$212,954$0$2,731,483
80$4,010,852$161,983$0$2,949,639
81$4,356,619$106,580$0$3,188,817
82$4,735,659$46,468$0$3,451,153
83$5,151,304$0$0$3,739,007
84$5,607,221$0$0$4,059,288
85$6,107,451$0$0$4,422,519
86$6,656,447$0$0$4,821,198
87$7,259,110$0$0$5,258,892
88$7,920,842$0$0$5,739,527
89$8,647,591$0$0$6,267,431
90$9,445,911$0$0$6,847,368
91$10,323,023$0$0$7,484,589
92$11,286,879$0$0$8,184,880
93$12,346,243$0$0$8,954,610
94$13,510,766$0$0$9,800,802
95$14,791,085$0$0$10,731,190
96$16,198,917$0$0$11,754,294
97$17,747,170$0$0$12,879,503
98$19,450,068$0$0$14,117,161
99$21,323,281$0$0$15,478,665
100$23,384,075$0$0$16,976,571