Can I retire at age 54 with 695,000?

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 $695,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$57,392$56,881$56,382$55,896$55,420$54,213
2 years$28,412$27,883$27,370$26,873$26,391$25,180
3 years$18,753$18,222$17,710$17,218$16,743$15,568
4 years$13,925$13,395$12,889$12,404$11,941$10,810
5 years$11,028$10,502$10,002$9,528$9,078$7,993
6 years$9,098$8,576$8,083$7,619$7,183$6,146
7 years$7,720$7,202$6,717$6,264$5,842$4,854
8 years$6,687$6,173$5,697$5,255$4,846$3,906
9 years$5,884$5,375$4,907$4,476$4,081$3,189
10 years$5,241$4,738$4,278$3,858$3,477$2,631
11 years$4,716$4,218$3,766$3,358$2,991$2,190
12 years$4,279$3,786$3,342$2,945$2,592$1,835
13 years$3,909$3,421$2,986$2,600$2,260$1,546
14 years$3,593$3,110$2,683$2,308$1,981$1,309
15 years$3,319$2,841$2,422$2,059$1,744$1,112
16 years$3,079$2,606$2,196$1,843$1,542$947
17 years$2,868$2,400$1,998$1,656$1,367$809
18 years$2,680$2,218$1,824$1,493$1,215$693
19 years$2,513$2,056$1,670$1,349$1,083$594
20 years$2,362$1,910$1,533$1,221$968$511
21 years$2,226$1,779$1,410$1,109$866$439
22 years$2,102$1,661$1,299$1,008$776$378
23 years$1,990$1,553$1,200$918$697$326
24 years$1,887$1,455$1,110$837$626$281
25 years$1,792$1,366$1,028$765$564$243
26 years$1,705$1,284$953$699$508$210
27 years$1,624$1,208$885$640$458$181
28 years$1,549$1,138$823$586$413$157
29 years$1,479$1,074$766$538$373$136
30 years$1,415$1,014$713$493$337$117
31 years$1,354$959$665$453$305$102
32 years$1,298$907$620$416$276$88
33 years$1,245$859$579$383$249$76
34 years$1,195$814$541$352$226$66
35 years$1,148$772$506$324$204$57
36 years$1,104$733$473$299$185$50
37 years$1,062$696$443$275$168$43
38 years$1,023$662$415$254$152$37
39 years$985$629$389$234$138$32
40 years$950$599$364$216$125$28
41 years$917$570$342$199$114$24
42 years$885$543$320$184$103$21
43 years$855$517$301$170$94$18
44 years$826$493$282$157$85$16
45 years$798$470$265$145$77$14
46 years$772$448$249$134$70$12
47 years$747$428$234$123$64$10
48 years$723$408$220$114$58$9
49 years$700$390$207$105$52$8
50 years$679$373$194$97$48$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $695,000, adding $2,639 every year, while hoping to spend $50,369 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: 43/31/26 Blend
53$695,000$695,000$695,000$695,000
54$768,612$731,777$721,005$795,738
55$793,418$714,042$691,566$797,631
56$819,067$693,750$659,453$794,671
57$845,590$670,722$624,523$790,483
58$873,022$644,769$586,627$784,981
59$901,400$615,692$545,608$778,076
60$930,761$583,279$501,304$769,673
61$961,145$547,307$453,545$759,673
62$992,595$507,538$402,152$747,972
63$1,025,156$463,724$346,940$734,459
64$1,058,874$415,599$287,715$719,019
65$1,093,800$362,884$224,274$701,531
66$1,129,987$305,284$156,406$681,866
67$1,167,489$242,487$83,890$659,892
68$1,206,368$174,164$6,495$635,466
69$1,246,686$99,966$0$608,442
70$1,288,511$19,527$0$599,775
71$1,331,913$0$0$591,488
72$1,376,970$0$0$604,718
73$1,423,762$0$0$625,386
74$1,472,377$0$0$646,871
75$1,522,907$0$0$669,214
76$1,575,453$0$0$692,461
77$1,630,120$0$0$716,662
78$1,687,023$0$0$741,869
79$1,746,285$0$0$768,139
80$1,808,038$0$0$795,531
81$1,872,425$0$0$824,113
82$1,939,598$0$0$853,954
83$2,009,723$0$0$885,131
84$2,082,977$0$0$917,727
85$2,159,553$0$0$951,830
86$2,239,660$0$0$987,537
87$2,323,522$0$0$1,024,953
88$2,411,384$0$0$1,064,191
89$2,503,510$0$0$1,105,374
90$2,600,187$0$0$1,148,636
91$2,701,727$0$0$1,194,122
92$2,808,467$0$0$1,241,989
93$2,920,777$0$0$1,292,410
94$3,039,057$0$0$1,345,572
95$3,163,743$0$0$1,401,678
96$3,295,310$0$0$1,460,952
97$3,434,275$0$0$1,523,634
98$3,581,205$0$0$1,589,991
99$3,736,716$0$0$1,660,311
100$3,901,481$0$0$1,734,910