Can I retire at age 54 with 702,000?

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 $702,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$57,971$57,454$56,950$56,459$55,978$55,440
2 years$28,698$28,164$27,646$27,144$26,656$26,114
3 years$18,942$18,405$17,889$17,391$16,912$16,382
4 years$14,065$13,530$13,018$12,529$12,062$11,549
5 years$11,140$10,608$10,103$9,624$9,169$8,675
6 years$9,190$8,662$8,165$7,696$7,255$6,780
7 years$7,798$7,274$6,785$6,327$5,900$5,445
8 years$6,754$6,235$5,754$5,308$4,895$4,458
9 years$5,943$5,429$4,956$4,521$4,122$3,705
10 years$5,294$4,785$4,321$3,897$3,512$3,114
11 years$4,764$4,260$3,804$3,392$3,021$2,641
12 years$4,322$3,824$3,376$2,975$2,618$2,256
13 years$3,949$3,456$3,016$2,627$2,283$1,938
14 years$3,629$3,141$2,710$2,332$2,001$1,674
15 years$3,352$2,869$2,447$2,079$1,762$1,452
16 years$3,110$2,633$2,218$1,862$1,557$1,263
17 years$2,897$2,424$2,019$1,673$1,381$1,102
18 years$2,707$2,240$1,843$1,508$1,228$965
19 years$2,538$2,076$1,687$1,362$1,094$846
20 years$2,386$1,929$1,548$1,234$977$743
21 years$2,248$1,797$1,424$1,120$875$654
22 years$2,124$1,678$1,312$1,018$784$576
23 years$2,010$1,569$1,212$927$704$508
24 years$1,906$1,470$1,121$846$633$449
25 years$1,810$1,380$1,038$772$569$397
26 years$1,722$1,297$963$706$513$351
27 years$1,640$1,220$894$646$462$311
28 years$1,565$1,150$831$592$417$276
29 years$1,494$1,085$773$543$377$244
30 years$1,429$1,024$720$498$340$217
31 years$1,368$968$672$458$308$192
32 years$1,311$916$627$421$278$171
33 years$1,257$868$585$387$252$152
34 years$1,207$822$547$356$228$135
35 years$1,160$780$511$328$207$120
36 years$1,115$740$478$302$187$106
37 years$1,073$703$447$278$170$95
38 years$1,033$668$419$256$154$84
39 years$995$635$393$236$139$75
40 years$960$605$368$218$126$66
41 years$926$576$345$201$115$59
42 years$894$548$324$186$104$53
43 years$863$522$304$171$94$47
44 years$834$498$285$158$86$42
45 years$806$475$268$146$78$37
46 years$780$453$251$135$71$33
47 years$755$432$236$125$64$29
48 years$731$413$222$115$58$26
49 years$707$394$209$106$53$23
50 years$685$376$196$98$48$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $702,000, adding $3,222 every year, while hoping to spend $40,910 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: 42/44/14 Blend
53$702,000$702,000$702,000$702,000
54$776,927$739,721$728,840$806,245
55$812,646$732,440$709,729$819,888
56$850,637$723,430$688,606$830,352
57$891,089$712,565$665,361$840,794
58$934,207$699,709$639,878$851,231
59$980,220$684,717$612,037$861,683
60$1,029,373$667,439$581,711$872,178
61$1,081,938$647,713$548,767$882,746
62$1,138,214$625,369$513,069$893,429
63$1,198,526$600,227$474,471$904,272
64$1,263,233$572,095$432,823$915,332
65$1,332,727$540,772$387,968$926,674
66$1,407,441$506,045$339,739$938,377
67$1,487,846$467,687$287,967$950,530
68$1,574,463$425,461$232,471$963,237
69$1,667,863$379,114$173,064$976,621
70$1,768,674$328,379$109,550$990,819
71$1,877,583$272,974$41,725$1,005,991
72$1,995,350$212,603$0$1,022,321
73$2,122,805$146,950$0$1,044,595
74$2,260,865$75,684$0$1,075,420
75$2,410,535$0$0$1,108,860
76$2,572,922$0$0$1,146,005
77$2,749,243$0$0$1,226,201
78$2,940,835$0$0$1,313,420
79$3,149,172$0$0$1,408,344
80$3,375,873$0$0$1,511,720
81$3,622,721$0$0$1,624,371
82$3,891,675$0$0$1,747,205
83$4,184,896$0$0$1,881,217
84$4,504,757$0$0$2,027,507
85$4,853,874$0$0$2,187,282
86$5,235,124$0$0$2,361,872
87$5,651,676$0$0$2,552,742
88$6,107,016$0$0$2,761,505
89$6,604,986$0$0$2,989,936
90$7,149,813$0$0$3,239,989
91$7,746,153$0$0$3,513,818
92$8,399,131$0$0$3,813,794
93$9,114,394$0$0$4,142,525
94$9,898,158$0$0$4,502,889
95$10,757,270$0$0$4,898,052
96$11,699,270$0$0$5,331,501
97$12,732,464$0$0$5,807,078
98$13,866,001$0$0$6,329,014
99$15,109,954$0$0$6,901,971
100$16,475,425$0$0$7,531,082