Can I retire at age 54 with 595,000?

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 $595,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$49,135$48,697$48,270$47,853$47,446$47,187
2 years$24,324$23,871$23,432$23,006$22,593$22,332
3 years$16,055$15,600$15,162$14,740$14,334$14,078
4 years$11,921$11,468$11,034$10,620$10,223$9,975
5 years$9,442$8,991$8,563$8,157$7,772$7,532
6 years$7,789$7,342$6,920$6,523$6,149$5,918
7 years$6,609$6,165$5,751$5,363$5,001$4,779
8 years$5,725$5,285$4,877$4,499$4,149$3,936
9 years$5,037$4,602$4,201$3,832$3,494$3,290
10 years$4,487$4,056$3,662$3,303$2,977$2,781
11 years$4,038$3,611$3,224$2,875$2,560$2,373
12 years$3,663$3,241$2,861$2,522$2,219$2,040
13 years$3,347$2,929$2,556$2,226$1,935$1,764
14 years$3,076$2,662$2,297$1,976$1,696$1,534
15 years$2,841$2,432$2,074$1,762$1,493$1,339
16 years$2,636$2,231$1,880$1,578$1,320$1,173
17 years$2,455$2,055$1,711$1,418$1,170$1,031
18 years$2,295$1,899$1,562$1,278$1,041$908
19 years$2,151$1,760$1,430$1,155$927$802
20 years$2,022$1,635$1,312$1,046$828$710
21 years$1,906$1,523$1,207$949$741$629
22 years$1,800$1,422$1,112$863$664$559
23 years$1,703$1,330$1,027$786$596$497
24 years$1,615$1,246$950$717$536$442
25 years$1,534$1,169$880$655$482$394
26 years$1,459$1,099$816$599$435$351
27 years$1,390$1,034$758$548$392$314
28 years$1,326$975$704$502$354$280
29 years$1,267$919$655$460$319$250
30 years$1,211$868$611$422$288$224
31 years$1,159$821$569$388$261$200
32 years$1,111$777$531$357$236$179
33 years$1,066$735$496$328$213$160
34 years$1,023$697$463$302$193$144
35 years$983$661$433$278$175$129
36 years$945$628$405$256$159$115
37 years$909$596$379$236$144$103
38 years$876$566$355$217$130$93
39 years$844$539$333$200$118$83
40 years$813$512$312$185$107$75
41 years$785$488$292$170$97$67
42 years$758$465$274$157$88$60
43 years$732$443$257$145$80$54
44 years$707$422$242$134$73$48
45 years$683$402$227$124$66$43
46 years$661$384$213$114$60$39
47 years$640$366$200$106$54$35
48 years$619$350$188$98$49$31
49 years$600$334$177$90$45$28
50 years$581$319$166$83$41$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $595,000, adding $2,535 every year, while hoping to spend $28,071 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: 61/10/29 Blend
53$595,000$595,000$595,000$595,000
54$658,305$626,770$617,547$693,161
55$695,585$627,614$608,368$718,054
56$735,726$627,559$597,940$741,980
57$778,992$626,531$586,192$767,509
58$825,669$624,451$573,050$794,807
59$876,075$621,237$558,435$824,052
60$930,558$616,801$542,266$855,447
61$989,498$611,048$524,456$889,211
62$1,053,318$603,880$504,916$925,591
63$1,122,479$595,192$483,552$964,857
64$1,197,488$584,873$460,267$1,007,311
65$1,278,904$572,804$434,959$1,053,285
66$1,367,341$558,861$407,519$1,103,146
67$1,463,476$542,911$377,837$1,157,303
68$1,568,052$524,815$345,796$1,216,204
69$1,681,886$504,424$311,273$1,280,348
70$1,805,880$481,582$274,142$1,350,285
71$1,941,022$456,122$234,268$1,426,624
72$2,088,404$427,869$191,514$1,510,038
73$2,249,224$396,638$145,733$1,601,270
74$2,424,804$362,233$96,774$1,701,142
75$2,616,597$324,445$44,479$1,810,562
76$2,826,204$283,057$0$1,930,533
77$3,055,386$237,836$0$2,065,671
78$3,306,083$188,538$0$2,228,608
79$3,580,432$134,904$0$2,406,976
80$3,880,783$76,662$0$2,602,328
81$4,209,728$13,523$0$2,816,372
82$4,570,118$0$0$3,050,995
83$4,965,093$0$0$3,314,305
84$5,398,115$0$0$3,604,656
85$5,872,991$0$0$3,923,119
86$6,393,920$0$0$4,272,516
87$6,965,523$0$0$4,655,952
88$7,592,891$0$0$5,076,849
89$8,281,632$0$0$5,538,977
90$9,037,924$0$0$6,046,487
91$9,868,573$0$0$6,603,952
92$10,781,074$0$0$7,216,412
93$11,783,687$0$0$7,889,417
94$12,885,509$0$0$8,629,081
95$14,096,562$0$0$9,442,142
96$15,427,891$0$0$10,336,021
97$16,891,660$0$0$11,318,896
98$18,501,271$0$0$12,399,775
99$20,271,493$0$0$13,588,583
100$22,218,596$0$0$14,896,257