Can I retire at age 54 with 656,000?

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 $656,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$54,172$53,689$53,219$52,759$52,310$51,380
2 years$26,818$26,318$25,834$25,365$24,910$23,976
3 years$17,701$17,199$16,716$16,252$15,804$14,895
4 years$13,143$12,643$12,165$11,708$11,271$10,395
5 years$10,410$9,913$9,441$8,993$8,568$7,727
6 years$8,588$8,094$7,630$7,192$6,780$5,974
7 years$7,287$6,798$6,340$5,913$5,514$4,744
8 years$6,312$5,827$5,377$4,960$4,574$3,840
9 years$5,553$5,073$4,631$4,225$3,852$3,154
10 years$4,947$4,472$4,038$3,642$3,282$2,619
11 years$4,452$3,981$3,555$3,170$2,823$2,193
12 years$4,039$3,573$3,155$2,780$2,446$1,850
13 years$3,690$3,229$2,818$2,454$2,133$1,569
14 years$3,391$2,935$2,532$2,179$1,870$1,337
15 years$3,133$2,681$2,286$1,943$1,646$1,144
16 years$2,906$2,460$2,073$1,740$1,455$981
17 years$2,707$2,266$1,886$1,563$1,290$844
18 years$2,530$2,094$1,722$1,409$1,147$728
19 years$2,372$1,940$1,576$1,273$1,023$629
20 years$2,230$1,803$1,447$1,153$913$545
21 years$2,101$1,679$1,331$1,046$817$472
22 years$1,984$1,568$1,226$951$733$410
23 years$1,878$1,466$1,132$866$658$356
24 years$1,781$1,374$1,047$790$591$310
25 years$1,691$1,289$970$722$532$270
26 years$1,609$1,212$900$660$479$235
27 years$1,533$1,140$835$604$432$205
28 years$1,462$1,074$777$553$390$178
29 years$1,396$1,014$723$507$352$156
30 years$1,335$957$673$466$318$136
31 years$1,278$905$628$428$288$118
32 years$1,225$856$586$393$260$103
33 years$1,175$811$547$361$235$90
34 years$1,128$769$511$333$213$79
35 years$1,084$729$478$306$193$69
36 years$1,042$692$447$282$175$60
37 years$1,003$657$418$260$158$53
38 years$965$625$392$239$144$46
39 years$930$594$367$221$130$40
40 years$897$565$344$204$118$35
41 years$865$538$322$188$107$31
42 years$835$512$302$173$97$27
43 years$807$488$284$160$88$24
44 years$779$465$266$148$80$21
45 years$754$444$250$137$73$18
46 years$729$423$235$126$66$16
47 years$705$404$221$116$60$14
48 years$683$386$207$108$54$12
49 years$661$368$195$99$49$11
50 years$640$352$183$92$45$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $656,000, adding $3,963 every year, while hoping to spend $33,106 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: 75/13/12 Blend
53$656,000$656,000$656,000$656,000
54$727,000$692,232$682,064$779,499
55$765,929$690,927$669,688$813,378
56$807,720$688,448$655,789$845,952
57$852,629$684,703$640,279$880,735
58$900,938$679,595$623,069$917,934
59$952,956$673,018$604,065$957,779
60$1,009,025$664,863$583,168$1,000,525
61$1,069,517$655,012$560,276$1,046,452
62$1,134,842$643,342$535,280$1,095,868
63$1,205,452$629,722$508,068$1,149,114
64$1,281,842$614,013$478,522$1,206,568
65$1,364,557$596,066$446,520$1,268,643
66$1,454,196$575,728$411,932$1,335,798
67$1,551,418$552,832$374,626$1,408,538
68$1,656,946$527,205$334,459$1,487,421
69$1,771,578$498,661$291,287$1,573,062
70$1,896,189$467,005$244,955$1,666,139
71$2,031,744$432,032$195,304$1,767,401
72$2,179,303$393,522$142,168$1,877,675
73$2,340,032$351,246$85,372$1,997,873
74$2,515,218$304,959$24,734$2,128,999
75$2,706,272$254,404$0$2,272,165
76$2,914,750$199,308$0$2,433,712
77$3,142,365$139,385$0$2,613,585
78$3,391,001$74,330$0$2,810,130
79$3,662,734$3,822$0$3,025,018
80$3,959,848$0$0$3,260,091
81$4,284,858$0$0$3,527,747
82$4,640,534$0$0$3,821,282
83$5,029,926$0$0$4,142,670
84$5,456,391$0$0$4,494,684
85$5,923,628$0$0$4,880,383
86$6,435,711$0$0$5,303,131
87$6,997,123$0$0$5,766,635
88$7,612,806$0$0$6,274,977
89$8,288,201$0$0$6,832,656
90$9,029,302$0$0$7,444,623
91$9,842,709$0$0$8,116,334
92$10,735,695$0$0$8,853,799
93$11,716,270$0$0$9,663,637
94$12,793,258$0$0$10,553,142
95$13,976,380$0$0$11,530,347
96$15,276,343$0$0$12,604,101
97$16,704,946$0$0$13,784,155
98$18,275,184$0$0$15,081,248
99$20,001,376$0$0$16,507,215
100$21,899,296$0$0$18,075,093