Can I retire at age 54 with 597,000?

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 $597,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$49,300$48,861$48,432$48,014$47,606$46,082
2 years$24,406$23,951$23,511$23,084$22,669$21,148
3 years$16,109$15,652$15,213$14,790$14,382$12,912
4 years$11,961$11,506$11,071$10,655$10,258$8,848
5 years$9,473$9,021$8,592$8,184$7,798$6,454
6 years$7,815$7,366$6,943$6,545$6,170$4,893
7 years$6,631$6,186$5,770$5,381$5,018$3,807
8 years$5,744$5,303$4,893$4,514$4,163$3,018
9 years$5,054$4,617$4,215$3,845$3,506$2,425
10 years$4,502$4,070$3,674$3,314$2,987$1,969
11 years$4,051$3,623$3,235$2,885$2,569$1,612
12 years$3,676$3,252$2,871$2,530$2,226$1,327
13 years$3,358$2,939$2,565$2,234$1,941$1,099
14 years$3,086$2,671$2,305$1,983$1,702$914
15 years$2,851$2,440$2,081$1,768$1,498$762
16 years$2,645$2,239$1,887$1,583$1,324$638
17 years$2,463$2,062$1,717$1,423$1,174$534
18 years$2,302$1,905$1,567$1,282$1,044$449
19 years$2,158$1,766$1,435$1,158$931$378
20 years$2,029$1,641$1,317$1,049$831$318
21 years$1,912$1,528$1,211$952$744$268
22 years$1,806$1,427$1,116$866$667$226
23 years$1,709$1,334$1,031$788$598$191
24 years$1,621$1,250$953$719$538$162
25 years$1,539$1,173$883$657$484$137
26 years$1,464$1,103$819$601$436$116
27 years$1,395$1,038$760$550$393$98
28 years$1,331$978$707$504$355$83
29 years$1,271$922$658$462$320$70
30 years$1,215$871$613$424$289$59
31 years$1,163$824$571$389$262$50
32 years$1,115$779$533$358$237$43
33 years$1,069$738$498$329$214$36
34 years$1,026$699$465$303$194$31
35 years$986$663$435$279$176$26
36 years$948$630$407$257$159$22
37 years$912$598$381$236$144$19
38 years$879$568$356$218$131$16
39 years$847$540$334$201$119$13
40 years$816$514$313$185$108$11
41 years$787$489$293$171$98$10
42 years$760$466$275$158$89$8
43 years$734$444$258$146$80$7
44 years$709$423$242$135$73$6
45 years$686$404$228$124$66$5
46 years$663$385$214$115$60$4
47 years$642$368$201$106$55$4
48 years$621$351$189$98$50$3
49 years$602$335$177$91$45$3
50 years$583$320$167$84$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $597,000, adding $4,764 every year, while hoping to spend $30,011 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: 43/32/25 Blend
53$597,000$597,000$597,000$597,000
54$662,808$631,167$621,914$686,302
55$698,483$630,163$610,816$702,504
56$736,791$628,103$598,341$716,811
57$777,969$624,906$584,411$731,721
58$822,277$620,481$568,944$747,308
59$870,000$614,736$551,854$763,653
60$921,452$607,570$533,054$780,849
61$976,978$598,879$512,449$798,999
62$1,036,956$588,550$489,942$818,220
63$1,101,802$576,465$465,432$838,643
64$1,171,973$562,500$438,811$860,416
65$1,247,972$546,520$409,969$883,703
66$1,330,352$528,385$378,789$908,689
67$1,419,719$507,948$345,150$935,580
68$1,516,742$485,049$308,924$964,608
69$1,622,156$459,523$269,980$996,032
70$1,736,770$431,194$228,178$1,030,138
71$1,861,473$399,875$183,374$1,067,249
72$1,997,244$365,369$135,417$1,107,723
73$2,145,158$327,468$84,150$1,151,961
74$2,306,403$285,952$29,407$1,200,408
75$2,482,281$240,588$0$1,253,558
76$2,674,228$191,132$0$1,319,704
77$2,883,825$137,323$0$1,400,594
78$3,112,811$78,887$0$1,489,106
79$3,363,100$15,535$0$1,586,051
80$3,636,802$0$0$1,692,326
81$3,936,237$0$0$1,827,596
82$4,263,962$0$0$1,981,707
83$4,622,791$0$0$2,150,519
84$5,015,823$0$0$2,335,500
85$5,446,472$0$0$2,538,267
86$5,918,497$0$0$2,760,598
87$6,436,038$0$0$3,004,456
88$7,003,655$0$0$3,271,999
89$7,626,369$0$0$3,565,606
90$8,309,713$0$0$3,887,896
91$9,059,779$0$0$4,241,756
92$9,883,281$0$0$4,630,364
93$10,787,611$0$0$5,057,223
94$11,780,914$0$0$5,526,189
95$12,872,162$0$0$6,041,514
96$14,071,240$0$0$6,607,880
97$15,389,037$0$0$7,230,443
98$16,837,548$0$0$7,914,888
99$18,429,991$0$0$8,667,475
100$20,180,926$0$0$9,495,101