Can I retire at age 54 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$57,640$57,127$56,626$56,137$55,660$54,008
2 years$28,535$28,003$27,488$26,989$26,505$24,854
3 years$18,834$18,300$17,787$17,292$16,816$15,218
4 years$13,985$13,453$12,944$12,458$11,993$10,461
5 years$11,076$10,547$10,045$9,569$9,117$7,654
6 years$9,137$8,613$8,118$7,652$7,214$5,822
7 years$7,753$7,233$6,746$6,291$5,867$4,545
8 years$6,716$6,200$5,721$5,278$4,867$3,616
9 years$5,909$5,398$4,928$4,495$4,099$2,916
10 years$5,264$4,758$4,296$3,875$3,492$2,377
11 years$4,737$4,236$3,782$3,373$3,004$1,953
12 years$4,298$3,802$3,357$2,958$2,603$1,615
13 years$3,926$3,436$2,999$2,612$2,270$1,343
14 years$3,608$3,123$2,695$2,318$1,990$1,121
15 years$3,333$2,853$2,433$2,067$1,752$939
16 years$3,092$2,618$2,206$1,851$1,548$789
17 years$2,880$2,411$2,007$1,663$1,373$664
18 years$2,692$2,228$1,832$1,499$1,221$560
19 years$2,524$2,064$1,677$1,354$1,088$473
20 years$2,372$1,918$1,539$1,227$972$401
21 years$2,236$1,787$1,416$1,113$870$339
22 years$2,111$1,668$1,305$1,012$780$288
23 years$1,998$1,560$1,205$922$700$244
24 years$1,895$1,462$1,114$841$629$207
25 years$1,800$1,372$1,032$768$566$176
26 years$1,712$1,289$957$702$510$150
27 years$1,631$1,213$889$643$460$127
28 years$1,556$1,143$826$589$415$108
29 years$1,486$1,079$769$540$374$92
30 years$1,421$1,019$716$496$338$79
31 years$1,360$963$668$455$306$67
32 years$1,303$911$623$418$277$57
33 years$1,250$863$582$385$250$49
34 years$1,200$818$544$354$227$41
35 years$1,153$776$508$326$205$35
36 years$1,109$736$475$300$186$30
37 years$1,067$699$445$276$169$26
38 years$1,027$664$417$255$153$22
39 years$990$632$390$235$139$19
40 years$954$601$366$217$126$16
41 years$921$572$343$200$114$13
42 years$889$545$322$185$104$11
43 years$858$519$302$170$94$10
44 years$829$495$283$157$85$8
45 years$802$472$266$145$77$7
46 years$775$450$250$134$70$6
47 years$750$430$235$124$64$5
48 years$726$410$221$115$58$4
49 years$703$392$207$106$53$4
50 years$681$374$195$98$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $698,000, adding $2,243 every year, while hoping to spend $34,084 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: 51/21/28 Blend
53$698,000$698,000$698,000$698,000
54$771,510$734,516$723,697$804,668
55$813,939$734,242$711,675$827,740
56$859,553$732,812$698,109$849,218
57$908,641$730,134$682,910$871,903
58$961,522$726,110$665,986$895,925
59$1,018,542$720,634$647,242$921,431
60$1,080,085$713,597$626,576$948,582
61$1,146,571$704,881$603,884$977,558
62$1,218,463$694,362$579,056$1,008,559
63$1,296,269$681,908$551,977$1,041,810
64$1,380,547$667,380$522,527$1,077,558
65$1,471,911$650,630$490,580$1,116,080
66$1,571,037$631,501$456,005$1,157,683
67$1,678,666$609,829$418,664$1,202,708
68$1,795,616$585,437$378,416$1,251,535
69$1,922,786$558,140$335,110$1,304,584
70$2,061,163$527,742$288,589$1,362,323
71$2,211,836$494,035$238,691$1,425,270
72$2,376,001$456,801$185,245$1,494,000
73$2,554,976$415,807$128,073$1,569,151
74$2,750,210$370,807$66,990$1,651,430
75$2,963,298$321,544$1,801$1,741,621
76$3,195,997$267,742$0$1,840,592
77$3,450,240$209,113$0$1,969,551
78$3,728,156$145,351$0$2,111,207
79$4,032,089$76,133$0$2,266,267
80$4,364,617$1,120$0$2,436,107
81$4,728,583$0$0$2,622,242
82$5,127,115$0$0$2,844,846
83$5,563,658$0$0$3,089,036
84$6,042,007$0$0$3,356,685
85$6,566,338$0$0$3,650,140
86$7,141,255$0$0$3,971,986
87$7,771,826$0$0$4,325,071
88$8,463,633$0$0$4,712,530
89$9,222,825$0$0$5,137,819
90$10,056,176$0$0$5,604,743
91$10,971,147$0$0$6,117,493
92$11,975,955$0$0$6,680,688
93$13,079,655$0$0$7,299,413
94$14,292,221$0$0$7,979,273
95$15,624,638$0$0$8,726,442
96$17,089,013$0$0$9,547,720
97$18,698,680$0$0$10,450,600
98$20,468,330$0$0$11,443,338
99$22,414,150$0$0$12,535,029
100$24,553,972$0$0$13,735,694