Can I retire at age 54 with 590,000?

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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$48,722$48,288$47,864$47,451$47,047$45,378
2 years$24,120$23,670$23,235$22,813$22,404$20,740
3 years$15,920$15,469$15,035$14,616$14,214$12,607
4 years$11,821$11,371$10,941$10,530$10,137$8,601
5 years$9,362$8,915$8,491$8,088$7,706$6,244
6 years$7,724$7,280$6,862$6,468$6,098$4,710
7 years$6,554$6,114$5,702$5,318$4,959$3,646
8 years$5,677$5,241$4,836$4,461$4,114$2,875
9 years$4,995$4,563$4,165$3,800$3,465$2,297
10 years$4,450$4,022$3,631$3,276$2,952$1,855
11 years$4,004$3,580$3,197$2,851$2,539$1,509
12 years$3,633$3,214$2,837$2,500$2,200$1,236
13 years$3,319$2,904$2,535$2,208$1,919$1,017
14 years$3,050$2,640$2,278$1,960$1,682$840
15 years$2,817$2,412$2,056$1,748$1,481$696
16 years$2,614$2,213$1,864$1,565$1,309$579
17 years$2,435$2,038$1,697$1,406$1,160$482
18 years$2,275$1,883$1,549$1,267$1,032$402
19 years$2,133$1,745$1,418$1,145$920$336
20 years$2,005$1,622$1,301$1,037$821$281
21 years$1,890$1,510$1,197$941$735$235
22 years$1,785$1,410$1,103$856$659$197
23 years$1,689$1,319$1,018$779$591$165
24 years$1,602$1,236$942$711$532$139
25 years$1,521$1,159$872$649$478$117
26 years$1,447$1,090$809$593$431$98
27 years$1,378$1,026$751$543$389$82
28 years$1,315$966$698$498$351$69
29 years$1,256$912$650$456$317$58
30 years$1,201$861$605$419$286$49
31 years$1,150$814$564$385$259$41
32 years$1,102$770$527$354$234$35
33 years$1,057$729$492$325$212$29
34 years$1,014$691$459$299$192$24
35 years$975$656$430$275$174$21
36 years$937$622$402$254$157$17
37 years$902$591$376$234$143$15
38 years$868$562$352$215$129$12
39 years$837$534$330$199$117$10
40 years$807$508$309$183$106$9
41 years$778$484$290$169$96$7
42 years$751$461$272$156$88$6
43 years$725$439$255$144$79$5
44 years$701$418$240$133$72$4
45 years$678$399$225$123$65$4
46 years$655$381$211$113$59$3
47 years$634$363$199$105$54$3
48 years$614$347$187$97$49$2
49 years$595$331$175$89$45$2
50 years$576$316$165$83$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $590,000, adding $4,418 every year, while hoping to spend $41,601 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: 66/8/26 Blend
53$590,000$590,000$590,000$590,000
54$654,737$623,467$614,322$693,235
55$677,257$609,754$590,639$706,003
56$700,680$593,974$564,768$714,874
57$725,054$575,984$536,592$723,636
58$750,430$555,628$505,989$732,279
59$776,865$532,744$472,830$740,797
60$804,417$507,161$436,982$749,183
61$833,151$478,695$398,305$757,431
62$863,137$447,156$356,652$765,535
63$894,450$412,339$311,872$773,493
64$927,169$374,029$263,805$781,302
65$961,382$331,998$212,285$788,962
66$997,184$286,007$157,137$796,475
67$1,034,676$235,801$98,181$803,846
68$1,073,970$181,112$35,227$811,080
69$1,115,184$121,656$0$818,190
70$1,158,451$57,135$0$834,055
71$1,203,910$0$0$860,833
72$1,251,716$0$0$889,949
73$1,302,036$0$0$925,904
74$1,355,052$0$0$963,799
75$1,410,963$0$0$1,003,778
76$1,469,983$0$0$1,045,998
77$1,532,349$0$0$1,090,629
78$1,598,319$0$0$1,137,858
79$1,668,171$0$0$1,187,887
80$1,742,214$0$0$1,240,939
81$1,820,781$0$0$1,297,257
82$1,904,239$0$0$1,357,107
83$1,992,989$0$0$1,420,778
84$2,087,469$0$0$1,488,589
85$2,188,158$0$0$1,560,887
86$2,295,582$0$0$1,638,055
87$2,410,317$0$0$1,720,509
88$2,532,993$0$0$1,808,708
89$2,664,302$0$0$1,903,154
90$2,805,002$0$0$2,004,397
91$2,955,925$0$0$2,113,041
92$3,117,984$0$0$2,229,748
93$3,292,181$0$0$2,355,247
94$3,479,614$0$0$2,490,336
95$3,681,493$0$0$2,635,892
96$3,899,142$0$0$2,792,878
97$4,134,018$0$0$2,962,352
98$4,387,723$0$0$3,145,478
99$4,662,015$0$0$3,343,533
100$4,958,827$0$0$3,557,922