Can I retire at age 54 with 710,000?

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 $710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$58,631$58,109$57,599$57,102$56,616$54,870
2 years$29,025$28,485$27,961$27,453$26,960$25,216
3 years$19,158$18,615$18,093$17,589$17,105$15,417
4 years$14,225$13,684$13,167$12,672$12,199$10,582
5 years$11,266$10,728$10,218$9,733$9,274$7,730
6 years$9,295$8,761$8,258$7,784$7,338$5,870
7 years$7,887$7,357$6,862$6,400$5,968$4,575
8 years$6,831$6,306$5,820$5,368$4,951$3,633
9 years$6,011$5,491$5,012$4,573$4,169$2,925
10 years$5,355$4,840$4,370$3,942$3,552$2,379
11 years$4,818$4,309$3,847$3,430$3,055$1,951
12 years$4,372$3,867$3,414$3,009$2,648$1,610
13 years$3,994$3,495$3,050$2,656$2,309$1,336
14 years$3,670$3,177$2,741$2,358$2,024$1,113
15 years$3,390$2,902$2,475$2,103$1,782$930
16 years$3,146$2,663$2,244$1,883$1,575$780
17 years$2,930$2,452$2,042$1,692$1,396$655
18 years$2,738$2,266$1,864$1,525$1,242$552
19 years$2,567$2,100$1,706$1,378$1,107$465
20 years$2,413$1,951$1,566$1,248$989$393
21 years$2,274$1,818$1,440$1,132$885$332
22 years$2,148$1,697$1,327$1,030$793$281
23 years$2,033$1,587$1,226$938$712$238
24 years$1,927$1,487$1,133$855$640$201
25 years$1,830$1,395$1,050$781$576$171
26 years$1,741$1,311$974$714$519$145
27 years$1,659$1,234$904$654$468$123
28 years$1,582$1,163$841$599$422$104
29 years$1,511$1,097$782$549$381$89
30 years$1,445$1,036$729$504$344$75
31 years$1,383$979$679$463$311$64
32 years$1,326$927$634$425$281$54
33 years$1,272$878$592$391$255$46
34 years$1,221$832$553$360$231$39
35 years$1,173$789$517$331$209$33
36 years$1,128$749$484$305$189$28
37 years$1,085$711$453$281$172$24
38 years$1,045$676$424$259$156$20
39 years$1,007$643$397$239$141$17
40 years$971$612$372$220$128$15
41 years$936$582$349$203$116$13
42 years$904$554$327$188$105$11
43 years$873$528$307$173$96$9
44 years$844$503$288$160$87$8
45 years$816$480$271$148$79$7
46 years$789$458$254$136$72$6
47 years$763$437$239$126$65$5
48 years$739$417$225$117$59$4
49 years$716$398$211$108$54$3
50 years$693$381$198$100$49$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $710,000, adding $2,019 every year, while hoping to spend $22,792 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: 39/45/16 Blend
53$710,000$710,000$710,000$710,000
54$784,503$746,873$735,868$811,268
55$840,271$759,219$736,269$842,900
56$900,965$771,406$735,919$874,731
57$967,061$783,403$734,770$908,664
58$1,039,086$795,174$732,770$944,899
59$1,117,619$806,684$729,864$983,661
60$1,203,298$817,894$725,996$1,025,193
61$1,296,824$828,760$721,107$1,069,770
62$1,398,969$839,239$715,133$1,117,691
63$1,510,585$849,282$708,011$1,169,288
64$1,632,606$858,838$699,671$1,224,928
65$1,766,063$867,853$690,041$1,285,016
66$1,912,092$876,268$679,048$1,350,000
67$2,071,940$884,020$666,611$1,420,375
68$2,246,986$891,044$652,650$1,496,688
69$2,438,742$897,270$637,078$1,579,541
70$2,648,878$902,620$619,804$1,669,602
71$2,879,232$907,017$600,736$1,767,608
72$3,131,828$910,375$579,774$1,874,371
73$3,408,893$912,602$556,816$1,990,791
74$3,712,885$913,604$531,754$2,117,859
75$4,046,507$913,278$504,475$2,256,670
76$4,412,737$911,516$474,862$2,408,436
77$4,814,858$908,202$442,792$2,574,490
78$5,256,484$903,214$408,136$2,756,309
79$5,741,597$896,423$370,760$2,955,519
80$6,274,584$887,692$330,524$3,173,919
81$6,860,276$876,873$287,281$3,413,492
82$7,503,998$863,814$240,879$3,676,428
83$8,211,615$848,350$191,158$3,965,144
84$8,989,589$830,308$137,950$4,282,309
85$9,845,038$809,504$81,082$4,630,866
86$10,785,806$785,744$20,373$5,014,064
87$11,820,534$758,821$0$5,435,490
88$12,958,743$728,519$0$5,906,681
89$14,210,925$694,606$0$6,428,626
90$15,588,636$656,838$0$7,002,695
91$17,104,612$614,958$0$7,634,240
92$18,772,884$568,693$0$8,329,162
93$20,608,914$517,754$0$9,093,969
94$22,629,736$461,837$0$9,935,838
95$24,854,121$400,620$0$10,862,686
96$27,302,753$333,762$0$11,883,239
97$29,998,421$260,903$0$13,007,122
98$32,966,236$181,664$0$14,244,949
99$36,233,870$95,643$0$15,608,423
100$39,831,813$2,418$0$17,110,446