Can I retire at age 54 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$58,301$57,782$57,275$56,780$56,297$54,278
2 years$28,862$28,324$27,803$27,298$26,808$24,796
3 years$19,050$18,510$17,991$17,490$17,008$15,066
4 years$14,145$13,607$13,093$12,601$12,130$10,273
5 years$11,203$10,668$10,160$9,679$9,221$7,454
6 years$9,242$8,711$8,211$7,740$7,297$5,620
7 years$7,842$7,316$6,823$6,364$5,934$4,348
8 years$6,793$6,271$5,787$5,338$4,923$3,426
9 years$5,977$5,460$4,984$4,547$4,146$2,736
10 years$5,324$4,813$4,345$3,920$3,532$2,208
11 years$4,791$4,284$3,826$3,411$3,038$1,795
12 years$4,347$3,845$3,395$2,992$2,633$1,469
13 years$3,971$3,475$3,033$2,642$2,296$1,208
14 years$3,650$3,159$2,725$2,345$2,012$997
15 years$3,371$2,886$2,461$2,091$1,772$826
16 years$3,128$2,648$2,231$1,872$1,566$686
17 years$2,913$2,438$2,030$1,682$1,389$571
18 years$2,723$2,253$1,853$1,516$1,235$476
19 years$2,553$2,088$1,697$1,370$1,100$397
20 years$2,399$1,940$1,557$1,241$983$332
21 years$2,261$1,807$1,432$1,126$880$278
22 years$2,136$1,687$1,320$1,024$788$233
23 years$2,021$1,578$1,219$932$708$195
24 years$1,916$1,478$1,127$850$636$164
25 years$1,820$1,387$1,044$777$572$137
26 years$1,731$1,304$968$710$516$115
27 years$1,650$1,227$899$650$465$97
28 years$1,574$1,156$836$596$419$81
29 years$1,503$1,091$778$546$379$68
30 years$1,437$1,030$724$501$342$57
31 years$1,376$974$675$460$309$48
32 years$1,318$922$630$423$280$40
33 years$1,264$873$588$389$253$34
34 years$1,214$827$550$358$229$29
35 years$1,166$785$514$330$208$24
36 years$1,121$745$481$303$188$20
37 years$1,079$707$450$280$171$17
38 years$1,039$672$421$258$155$14
39 years$1,001$639$395$238$140$12
40 years$965$608$370$219$127$10
41 years$931$579$347$202$115$8
42 years$899$551$326$187$105$7
43 years$868$525$305$172$95$6
44 years$839$501$287$159$86$5
45 years$811$477$269$147$78$4
46 years$784$455$253$136$71$4
47 years$759$435$238$125$65$3
48 years$735$415$223$116$59$3
49 years$712$396$210$107$53$2
50 years$689$378$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 $706,000, adding $3,529 every year, while hoping to spend $21,038 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: 58/20/22 Blend
53$706,000$706,000$706,000$706,000
54$781,652$744,234$733,291$822,192
55$838,996$758,317$735,472$864,281
56$901,485$772,386$737,021$907,578
57$969,619$786,416$737,895$954,325
58$1,043,954$800,383$738,047$1,004,859
59$1,125,096$814,261$737,431$1,059,552
60$1,213,717$828,021$735,996$1,118,817
61$1,310,554$841,632$733,689$1,183,105
62$1,416,419$855,060$730,456$1,252,916
63$1,532,205$868,270$726,239$1,328,802
64$1,658,899$881,224$720,976$1,411,370
65$1,797,583$893,880$714,606$1,501,289
66$1,949,452$906,195$707,060$1,599,299
67$2,115,819$918,122$698,269$1,706,213
68$2,298,132$929,610$688,162$1,822,931
69$2,497,987$940,606$676,660$1,950,442
70$2,717,138$951,052$663,684$2,089,839
71$2,957,520$960,887$649,151$2,242,326
72$3,221,262$970,046$632,974$2,409,232
73$3,510,712$978,459$615,059$2,592,019
74$3,828,453$986,053$595,312$2,792,304
75$4,177,333$992,747$573,633$3,011,866
76$4,560,487$998,458$549,916$3,252,669
77$4,981,371$1,003,096$524,052$3,516,877
78$5,443,790$1,006,567$495,927$3,806,876
79$5,951,936$1,008,769$465,420$4,125,299
80$6,510,430$1,009,594$432,408$4,475,046
81$7,124,358$1,008,929$396,758$4,859,316
82$7,799,328$1,006,652$358,335$5,281,636
83$8,541,516$1,002,635$316,996$5,745,895
84$9,357,727$996,740$272,591$6,256,380
85$10,255,458$988,823$224,966$6,817,817
86$11,242,970$978,731$173,958$7,435,416
87$12,329,364$966,299$119,396$8,114,922
88$13,524,668$951,357$61,105$8,862,669
89$14,839,930$933,720$0$9,685,638
90$16,287,326$913,194$0$10,591,785
91$17,880,268$889,576$0$11,604,659
92$19,633,536$862,646$0$12,719,303
93$21,563,417$832,176$0$13,946,077
94$23,687,854$797,921$0$15,296,400
95$26,026,620$759,624$0$16,782,854
96$28,601,502$717,013$0$18,419,308
97$31,436,508$669,799$0$20,221,045
98$34,558,090$617,678$0$22,204,908
99$37,995,399$560,327$0$24,389,462
100$41,780,552$497,406$0$26,795,163