Can I retire at age 54 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$57,805$57,290$56,788$56,298$55,819$53,732
2 years$28,617$28,084$27,567$27,066$26,580$24,501
3 years$18,888$18,353$17,838$17,342$16,864$14,858
4 years$14,025$13,491$12,981$12,494$12,027$10,111
5 years$11,108$10,577$10,074$9,596$9,143$7,321
6 years$9,164$8,637$8,141$7,674$7,235$5,507
7 years$7,776$7,254$6,765$6,309$5,884$4,251
8 years$6,735$6,218$5,738$5,293$4,881$3,342
9 years$5,926$5,414$4,942$4,508$4,111$2,662
10 years$5,279$4,772$4,308$3,886$3,502$2,143
11 years$4,750$4,248$3,793$3,382$3,012$1,738
12 years$4,310$3,813$3,366$2,967$2,610$1,418
13 years$3,938$3,446$3,008$2,619$2,276$1,163
14 years$3,619$3,132$2,702$2,325$1,995$958
15 years$3,343$2,861$2,440$2,073$1,757$791
16 years$3,101$2,625$2,212$1,857$1,553$655
17 years$2,889$2,418$2,013$1,668$1,377$543
18 years$2,700$2,234$1,837$1,503$1,224$452
19 years$2,531$2,070$1,682$1,358$1,091$376
20 years$2,379$1,924$1,544$1,230$975$313
21 years$2,242$1,792$1,420$1,117$872$261
22 years$2,117$1,673$1,309$1,015$782$218
23 years$2,004$1,565$1,208$925$702$182
24 years$1,900$1,466$1,118$843$631$152
25 years$1,805$1,376$1,035$770$568$127
26 years$1,717$1,293$960$704$511$107
27 years$1,635$1,217$891$645$461$89
28 years$1,560$1,147$829$591$416$75
29 years$1,490$1,082$771$542$376$62
30 years$1,425$1,021$718$497$339$52
31 years$1,364$966$670$456$307$44
32 years$1,307$914$625$419$278$37
33 years$1,254$865$583$386$251$31
34 years$1,203$820$545$355$227$26
35 years$1,156$778$510$327$206$22
36 years$1,112$738$477$301$187$18
37 years$1,070$701$446$277$169$15
38 years$1,030$666$418$256$153$13
39 years$993$634$391$236$139$11
40 years$957$603$367$217$126$9
41 years$923$574$344$201$114$7
42 years$891$547$323$185$104$6
43 years$861$521$303$171$94$5
44 years$832$496$284$158$86$4
45 years$804$473$267$146$78$4
46 years$778$452$251$135$70$3
47 years$753$431$236$124$64$3
48 years$728$411$221$115$58$2
49 years$705$393$208$106$53$2
50 years$683$375$196$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $700,000, adding $4,092 every year, while hoping to spend $26,000 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: 52/36/12 Blend
53$700,000$700,000$700,000$700,000
54$775,621$738,521$727,671$813,287
55$827,070$747,045$724,384$847,963
56$882,896$755,115$720,116$882,537
57$943,518$762,681$714,806$919,541
58$1,009,395$769,691$708,390$959,213
59$1,081,036$776,089$700,804$1,001,812
60$1,158,998$781,813$691,977$1,047,628
61$1,243,894$786,800$681,836$1,096,978
62$1,336,399$790,982$670,306$1,150,216
63$1,437,258$794,286$657,307$1,207,728
64$1,547,288$796,635$642,756$1,269,945
65$1,667,388$797,947$626,566$1,337,342
66$1,798,551$798,136$608,645$1,410,440
67$1,941,866$797,107$588,898$1,489,820
68$2,098,535$794,765$567,225$1,576,119
69$2,269,881$791,003$543,521$1,670,044
70$2,457,358$785,712$517,679$1,772,374
71$2,662,571$778,773$489,583$1,883,968
72$2,887,283$770,064$459,115$2,005,776
73$3,133,441$759,451$426,149$2,138,849
74$3,403,183$746,796$390,557$2,284,342
75$3,698,868$731,949$352,201$2,443,535
76$4,023,093$714,755$310,940$2,617,840
77$4,378,717$695,047$266,625$2,808,813
78$4,768,891$672,649$219,102$3,018,175
79$5,197,085$647,375$168,208$3,247,823
80$5,667,119$619,029$113,775$3,499,853
81$6,183,205$587,401$55,627$3,776,577
82$6,749,980$552,272$0$4,080,547
83$7,372,553$513,408$0$4,415,400
84$8,056,552$470,564$0$4,791,076
85$8,808,177$423,477$0$5,203,900
86$9,634,258$371,875$0$5,657,681
87$10,542,320$315,464$0$6,156,622
88$11,540,653$253,938$0$6,705,356
89$12,638,391$186,973$0$7,308,996
90$13,845,597$114,225$0$7,973,177
91$15,173,359$35,333$0$8,704,117
92$16,633,890$0$0$9,508,671
93$18,240,650$0$0$10,414,240
94$20,008,468$0$0$11,426,061
95$21,953,683$0$0$12,539,500
96$24,094,297$0$0$13,764,871
97$26,450,145$0$0$15,113,539
98$29,043,084$0$0$16,598,028
99$31,897,196$0$0$18,232,137
100$35,039,017$0$0$20,031,070