Can I retire at age 54 with 591,000?

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 $591,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$48,804$48,370$47,945$47,531$47,127$45,383
2 years$24,161$23,711$23,274$22,852$22,442$20,704
3 years$15,947$15,495$15,060$14,641$14,238$12,561
4 years$11,841$11,391$10,960$10,548$10,155$8,552
5 years$9,378$8,930$8,505$8,102$7,719$6,195
6 years$7,737$7,292$6,874$6,479$6,108$4,663
7 years$6,565$6,124$5,712$5,327$4,967$3,602
8 years$5,686$5,249$4,844$4,469$4,121$2,833
9 years$5,003$4,571$4,172$3,806$3,470$2,258
10 years$4,457$4,029$3,638$3,281$2,957$1,819
11 years$4,011$3,587$3,202$2,856$2,543$1,476
12 years$3,639$3,219$2,842$2,505$2,204$1,205
13 years$3,324$2,909$2,539$2,211$1,922$989
14 years$3,055$2,644$2,281$1,963$1,685$815
15 years$2,822$2,416$2,060$1,751$1,483$674
16 years$2,618$2,216$1,868$1,567$1,311$558
17 years$2,439$2,041$1,699$1,408$1,162$463
18 years$2,279$1,886$1,551$1,269$1,034$385
19 years$2,137$1,748$1,420$1,147$921$321
20 years$2,009$1,624$1,303$1,039$823$268
21 years$1,893$1,513$1,199$943$736$224
22 years$1,788$1,412$1,105$857$660$187
23 years$1,692$1,321$1,020$781$592$156
24 years$1,604$1,238$944$712$533$131
25 years$1,524$1,161$874$650$479$109
26 years$1,449$1,092$810$594$432$92
27 years$1,381$1,027$753$544$389$77
28 years$1,317$968$700$499$351$64
29 years$1,258$913$651$457$317$54
30 years$1,203$862$606$420$286$45
31 years$1,152$815$565$385$259$38
32 years$1,103$771$528$354$234$32
33 years$1,058$731$493$326$212$27
34 years$1,016$692$460$300$192$22
35 years$976$657$430$276$174$19
36 years$939$623$402$254$158$16
37 years$903$592$377$234$143$13
38 years$870$563$353$216$129$11
39 years$838$535$331$199$117$9
40 years$808$509$310$183$106$8
41 years$779$485$290$169$97$7
42 years$752$461$272$156$88$5
43 years$727$440$256$144$80$5
44 years$702$419$240$133$72$4
45 years$679$400$225$123$66$3
46 years$657$381$212$114$60$3
47 years$635$364$199$105$54$2
48 years$615$347$187$97$49$2
49 years$596$332$176$90$45$2
50 years$577$317$165$83$40$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $591,000, adding $4,951 every year, while hoping to spend $40,883 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: 49/22/29 Blend
53$591,000$591,000$591,000$591,000
54$656,389$625,066$615,905$682,926
55$679,841$612,195$593,039$689,191
56$704,316$597,323$568,036$691,578
57$729,873$580,309$540,783$693,383
58$756,580$561,004$511,158$694,573
59$784,506$539,248$479,038$695,111
60$813,730$514,876$444,290$694,961
61$844,335$487,709$406,778$694,087
62$876,411$457,560$366,358$692,452
63$910,056$424,232$322,883$690,018
64$945,377$387,514$276,194$686,747
65$982,489$347,186$226,131$682,603
66$1,021,518$303,014$172,521$677,548
67$1,062,601$254,749$115,189$671,546
68$1,105,886$202,132$53,948$664,561
69$1,151,536$144,886$0$656,560
70$1,199,726$82,719$0$651,040
71$1,250,651$15,325$0$662,484
72$1,304,519$0$0$674,221
73$1,361,559$0$0$700,244
74$1,422,024$0$0$731,792
75$1,486,186$0$0$765,302
76$1,554,344$0$0$800,934
77$1,626,827$0$0$838,864
78$1,703,992$0$0$879,285
79$1,786,231$0$0$922,406
80$1,873,974$0$0$968,459
81$1,967,692$0$0$1,017,696
82$2,067,901$0$0$1,070,395
83$2,175,164$0$0$1,126,859
84$2,290,104$0$0$1,187,422
85$2,413,399$0$0$1,252,449
86$2,545,796$0$0$1,322,342
87$2,688,113$0$0$1,397,542
88$2,841,250$0$0$1,478,533
89$3,006,194$0$0$1,565,845
90$3,184,030$0$0$1,660,063
91$3,375,947$0$0$1,761,829
92$3,583,255$0$0$1,871,846
93$3,807,392$0$0$1,990,889
94$4,049,938$0$0$2,119,811
95$4,312,631$0$0$2,259,547
96$4,597,380$0$0$2,411,127
97$4,906,288$0$0$2,575,682
98$5,241,663$0$0$2,754,459
99$5,606,047$0$0$2,948,827
100$6,002,234$0$0$3,160,293