Can I retire at age 54 with 596,000?

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 $596,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$49,217$48,779$48,351$47,934$47,526$47,207
2 years$24,365$23,911$23,471$23,045$22,631$22,309
3 years$16,082$15,626$15,188$14,765$14,358$14,043
4 years$11,941$11,487$11,053$10,637$10,240$9,935
5 years$9,457$9,006$8,577$8,171$7,785$7,490
6 years$7,802$7,354$6,932$6,534$6,160$5,876
7 years$6,620$6,176$5,760$5,372$5,009$4,737
8 years$5,734$5,294$4,885$4,506$4,156$3,894
9 years$5,046$4,609$4,208$3,839$3,500$3,249
10 years$4,495$4,063$3,668$3,309$2,982$2,743
11 years$4,045$3,617$3,230$2,880$2,565$2,336
12 years$3,670$3,246$2,866$2,526$2,222$2,004
13 years$3,353$2,934$2,561$2,230$1,938$1,730
14 years$3,081$2,667$2,301$1,980$1,699$1,501
15 years$2,846$2,436$2,077$1,765$1,496$1,308
16 years$2,641$2,235$1,883$1,581$1,322$1,143
17 years$2,459$2,058$1,714$1,420$1,172$1,003
18 years$2,299$1,902$1,564$1,280$1,042$882
19 years$2,155$1,763$1,432$1,157$929$777
20 years$2,026$1,638$1,314$1,047$830$686
21 years$1,909$1,526$1,209$951$743$607
22 years$1,803$1,424$1,114$864$666$538
23 years$1,706$1,332$1,029$787$597$477
24 years$1,618$1,248$951$718$537$424
25 years$1,537$1,171$881$656$483$376
26 years$1,462$1,101$817$600$435$335
27 years$1,393$1,036$759$549$392$298
28 years$1,328$976$706$503$354$266
29 years$1,269$921$657$461$320$237
30 years$1,213$870$612$423$289$211
31 years$1,161$822$570$389$261$189
32 years$1,113$778$532$357$236$168
33 years$1,067$737$497$328$214$150
34 years$1,025$698$464$302$194$134
35 years$984$662$434$278$175$120
36 years$947$629$406$256$159$107
37 years$911$597$380$236$144$96
38 years$877$567$356$218$131$86
39 years$845$540$333$201$118$77
40 years$815$513$312$185$107$69
41 years$786$489$293$171$97$62
42 years$759$465$275$158$88$55
43 years$733$443$258$145$80$49
44 years$708$423$242$134$73$44
45 years$685$403$227$124$66$40
46 years$662$384$213$115$60$35
47 years$641$367$201$106$55$32
48 years$620$350$188$98$49$28
49 years$601$334$177$90$45$25
50 years$582$320$167$84$41$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $596,000, adding $2,785 every year, while hoping to spend $27,488 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: 68/16/16 Blend
53$596,000$596,000$596,000$596,000
54$659,665$628,077$618,839$701,837
55$697,704$629,605$610,323$731,842
56$738,701$630,288$600,600$761,146
57$782,930$630,053$589,602$792,510
58$830,690$628,827$577,255$826,133
59$882,310$626,530$563,483$862,236
60$938,153$623,077$548,206$901,063
61$998,616$618,379$531,343$942,883
62$1,064,136$612,341$512,804$987,994
63$1,135,195$604,862$492,500$1,036,724
64$1,212,321$595,837$470,335$1,089,437
65$1,296,096$585,151$446,210$1,146,532
66$1,387,160$572,686$420,020$1,208,453
67$1,486,217$558,313$391,656$1,275,686
68$1,594,040$541,900$361,006$1,348,772
69$1,711,483$523,304$327,951$1,428,306
70$1,839,483$502,374$292,366$1,514,944
71$1,979,071$478,952$254,121$1,609,412
72$2,131,385$452,869$213,083$1,712,511
73$2,297,674$423,947$169,108$1,825,124
74$2,479,314$391,998$122,051$1,948,227
75$2,677,820$356,823$71,756$2,082,896
76$2,894,862$318,210$18,064$2,230,320
77$3,132,274$275,939$0$2,391,810
78$3,392,080$229,774$0$2,575,512
79$3,676,506$179,467$0$2,780,050
80$3,988,003$124,755$0$3,004,131
81$4,329,274$65,362$0$3,249,731
82$4,703,290$995$0$3,519,030
83$5,113,328$0$0$3,814,429
84$5,562,994$0$0$4,150,666
85$6,056,261$0$0$4,519,733
86$6,597,505$0$0$4,924,734
87$7,191,547$0$0$5,369,282
88$7,843,696$0$0$5,857,353
89$8,559,800$0$0$6,393,330
90$9,346,303$0$0$6,982,040
91$10,210,300$0$0$7,628,802
92$11,159,612$0$0$8,339,473
93$12,202,851$0$0$9,120,507
94$13,349,507$0$0$9,979,015
95$14,610,033$0$0$10,922,829
96$15,995,948$0$0$11,960,580
97$17,519,940$0$0$13,101,775
98$19,195,991$0$0$14,356,891
99$21,039,502$0$0$15,737,468
100$23,067,446$0$0$17,256,224