Can I retire at age 54 with 593,000?

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 $593,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$48,969$48,533$48,108$47,692$47,287$45,976
2 years$24,242$23,791$23,353$22,929$22,517$21,207
3 years$16,001$15,548$15,111$14,691$14,286$13,016
4 years$11,881$11,429$10,997$10,584$10,189$8,970
5 years$9,410$8,961$8,534$8,129$7,745$6,580
6 years$7,763$7,317$6,897$6,501$6,129$5,019
7 years$6,587$6,145$5,731$5,345$4,984$3,930
8 years$5,705$5,267$4,861$4,484$4,135$3,135
9 years$5,020$4,586$4,186$3,819$3,482$2,536
10 years$4,472$4,042$3,650$3,292$2,967$2,073
11 years$4,024$3,599$3,213$2,865$2,552$1,709
12 years$3,651$3,230$2,852$2,513$2,211$1,418
13 years$3,336$2,919$2,548$2,219$1,928$1,183
14 years$3,066$2,653$2,289$1,970$1,690$991
15 years$2,832$2,424$2,067$1,756$1,488$833
16 years$2,627$2,224$1,874$1,573$1,315$702
17 years$2,447$2,048$1,705$1,413$1,166$594
18 years$2,287$1,892$1,557$1,273$1,037$503
19 years$2,144$1,754$1,425$1,151$924$426
20 years$2,015$1,630$1,308$1,042$826$362
21 years$1,899$1,518$1,203$946$739$308
22 years$1,794$1,417$1,109$860$662$262
23 years$1,698$1,325$1,024$783$594$223
24 years$1,610$1,242$947$714$534$190
25 years$1,529$1,165$877$652$481$162
26 years$1,454$1,095$813$596$433$139
27 years$1,385$1,031$755$546$390$118
28 years$1,322$971$702$500$352$101
29 years$1,262$916$653$459$318$86
30 years$1,207$865$609$421$287$74
31 years$1,155$818$567$387$260$63
32 years$1,107$774$529$355$235$54
33 years$1,062$733$494$327$213$46
34 years$1,019$695$462$301$193$40
35 years$979$659$432$277$174$34
36 years$942$625$404$255$158$29
37 years$906$594$378$235$143$25
38 years$873$565$354$216$130$21
39 years$841$537$332$200$118$18
40 years$811$511$311$184$107$16
41 years$782$486$291$170$97$13
42 years$755$463$273$157$88$11
43 years$729$441$257$145$80$10
44 years$705$421$241$134$72$8
45 years$681$401$226$123$66$7
46 years$659$383$212$114$60$6
47 years$637$365$200$105$54$5
48 years$617$348$188$97$49$4
49 years$598$333$176$90$45$4
50 years$579$318$166$83$41$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $593,000, adding $3,380 every year, while hoping to spend $28,360 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: 87/5/8 Blend
53$593,000$593,000$593,000$593,000
54$656,972$625,543$616,352$713,308
55$693,809$626,020$606,825$751,022
56$733,452$625,570$596,028$788,202
57$776,158$624,117$583,889$828,159
58$822,209$621,582$570,333$871,151
59$871,914$617,879$555,278$917,464
60$925,613$612,919$538,644$967,413
61$983,680$606,605$520,342$1,021,343
62$1,046,524$598,838$500,282$1,079,636
63$1,114,597$589,509$478,370$1,142,710
64$1,188,396$578,504$454,505$1,211,028
65$1,268,465$565,704$428,584$1,285,097
66$1,355,405$550,981$400,498$1,365,478
67$1,449,877$534,199$370,135$1,452,786
68$1,552,605$515,215$337,376$1,547,701
69$1,664,389$493,879$302,096$1,650,971
70$1,786,108$470,031$264,167$1,763,418
71$1,918,729$443,500$223,455$1,885,951
72$2,063,316$414,108$179,817$2,019,569
73$2,221,040$381,665$133,107$2,165,373
74$2,393,191$345,971$83,171$2,324,577
75$2,581,188$306,815$29,848$2,498,515
76$2,786,593$263,973$0$2,688,662
77$3,011,126$217,209$0$2,898,948
78$3,256,681$166,272$0$3,131,721
79$3,525,343$110,900$0$3,386,415
80$3,819,408$50,814$0$3,665,218
81$4,141,404$0$0$3,970,537
82$4,494,114$0$0$4,305,810
83$4,880,605$0$0$4,676,264
84$5,304,252$0$0$5,082,338
85$5,768,775$0$0$5,527,599
86$6,278,270$0$0$6,015,972
87$6,837,246$0$0$6,551,783
88$7,450,675$0$0$7,139,795
89$8,124,027$0$0$7,785,256
90$8,863,334$0$0$8,493,946
91$9,675,235$0$0$9,272,232
92$10,567,047$0$0$10,127,128
93$11,546,829$0$0$11,066,361
94$12,623,461$0$0$12,098,444
95$13,806,723$0$0$13,232,753
96$15,107,391$0$0$14,479,620
97$16,537,337$0$0$15,850,426
98$18,109,641$0$0$17,357,713
99$19,838,713$0$0$19,015,295
100$21,740,431$0$0$20,838,394