Can I retire at age 54 with 704,000?

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 $704,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$58,136$57,618$57,113$56,619$56,138$54,146
2 years$28,780$28,244$27,725$27,221$26,732$24,747
3 years$18,996$18,458$17,940$17,441$16,960$15,043
4 years$14,105$13,568$13,055$12,565$12,096$10,263
5 years$11,171$10,638$10,132$9,651$9,195$7,450
6 years$9,216$8,687$8,188$7,718$7,276$5,620
7 years$7,820$7,295$6,804$6,345$5,917$4,351
8 years$6,773$6,253$5,770$5,323$4,909$3,430
9 years$5,960$5,444$4,970$4,534$4,134$2,741
10 years$5,309$4,799$4,333$3,908$3,522$2,213
11 years$4,777$4,272$3,815$3,401$3,029$1,801
12 years$4,335$3,835$3,385$2,984$2,625$1,475
13 years$3,960$3,465$3,025$2,634$2,289$1,213
14 years$3,639$3,150$2,718$2,338$2,007$1,003
15 years$3,362$2,877$2,454$2,085$1,767$831
16 years$3,119$2,640$2,225$1,867$1,562$691
17 years$2,905$2,431$2,024$1,678$1,385$575
18 years$2,715$2,247$1,848$1,512$1,231$480
19 years$2,545$2,082$1,692$1,366$1,097$401
20 years$2,393$1,935$1,553$1,237$980$335
21 years$2,255$1,802$1,428$1,123$877$281
22 years$2,130$1,682$1,316$1,021$786$235
23 years$2,015$1,573$1,215$930$706$197
24 years$1,911$1,474$1,124$848$634$166
25 years$1,815$1,384$1,041$774$571$139
26 years$1,727$1,300$965$708$514$117
27 years$1,645$1,224$897$648$464$98
28 years$1,569$1,153$833$594$418$82
29 years$1,499$1,088$776$545$378$69
30 years$1,433$1,027$722$500$341$58
31 years$1,372$971$673$459$309$49
32 years$1,314$919$628$422$279$41
33 years$1,261$870$587$388$253$35
34 years$1,210$825$548$357$229$29
35 years$1,163$782$513$329$207$25
36 years$1,118$743$479$303$188$21
37 years$1,076$705$449$279$170$17
38 years$1,036$670$420$257$154$15
39 years$998$637$394$237$140$12
40 years$962$606$369$219$127$10
41 years$929$577$346$202$115$9
42 years$896$550$325$186$104$7
43 years$866$524$305$172$95$6
44 years$836$499$286$159$86$5
45 years$809$476$268$146$78$4
46 years$782$454$252$135$71$4
47 years$757$433$237$125$64$3
48 years$733$414$223$116$58$3
49 years$709$395$209$107$53$2
50 years$687$377$197$99$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $704,000, adding $4,365 every year, while hoping to spend $49,804 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: 74/11/15 Blend
53$704,000$704,000$704,000$704,000
54$780,310$742,998$732,086$835,167
55$806,911$726,414$703,620$855,471
56$834,556$707,348$672,531$871,139
57$863,298$685,626$638,679$886,971
58$893,197$661,064$601,917$902,972
59$924,313$633,466$562,091$919,145
60$956,713$602,626$519,041$935,497
61$990,468$568,326$472,600$952,034
62$1,025,657$530,334$422,592$968,765
63$1,062,360$488,407$368,836$985,703
64$1,100,668$442,286$311,139$1,002,859
65$1,140,676$391,698$249,302$1,020,252
66$1,182,490$336,356$183,118$1,037,899
67$1,226,220$275,954$112,369$1,055,824
68$1,271,989$210,170$36,828$1,074,054
69$1,319,929$138,665$0$1,092,621
70$1,370,181$61,079$0$1,118,570
71$1,422,901$0$0$1,151,680
72$1,478,257$0$0$1,188,923
73$1,536,431$0$0$1,235,841
74$1,597,622$0$0$1,285,202
75$1,662,045$0$0$1,337,183
76$1,729,936$0$0$1,391,974
77$1,801,549$0$0$1,449,782
78$1,877,165$0$0$1,510,836
79$1,957,087$0$0$1,575,383
80$2,041,648$0$0$1,643,692
81$2,131,209$0$0$1,716,058
82$2,226,167$0$0$1,792,805
83$2,326,954$0$0$1,874,283
84$2,434,043$0$0$1,960,878
85$2,547,953$0$0$2,053,012
86$2,669,249$0$0$2,151,145
87$2,798,551$0$0$2,255,783
88$2,936,538$0$0$2,367,478
89$3,083,956$0$0$2,486,837
90$3,241,618$0$0$2,614,523
91$3,410,420$0$0$2,751,266
92$3,591,341$0$0$2,897,863
93$3,785,458$0$0$3,055,191
94$3,993,950$0$0$3,224,211
95$4,218,113$0$0$3,405,979
96$4,459,370$0$0$3,601,654
97$4,719,281$0$0$3,812,509
98$4,999,563$0$0$4,039,940
99$5,302,099$0$0$4,285,483
100$5,628,961$0$0$4,550,826