Can I retire at age 54 with 711,000?

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 $711,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$58,714$58,191$57,680$57,182$56,696$54,706
2 years$29,066$28,525$28,000$27,492$26,998$25,014
3 years$19,185$18,641$18,118$17,614$17,129$15,213
4 years$14,245$13,703$13,185$12,690$12,216$10,384
5 years$11,282$10,744$10,232$9,747$9,287$7,542
6 years$9,308$8,773$8,269$7,795$7,348$5,693
7 years$7,898$7,368$6,872$6,409$5,976$4,409
8 years$6,841$6,315$5,828$5,376$4,958$3,478
9 years$6,019$5,499$5,019$4,579$4,175$2,781
10 years$5,362$4,847$4,376$3,947$3,557$2,247
11 years$4,825$4,315$3,853$3,435$3,060$1,830
12 years$4,378$3,873$3,419$3,013$2,651$1,499
13 years$3,999$3,500$3,055$2,660$2,312$1,235
14 years$3,676$3,181$2,745$2,361$2,027$1,021
15 years$3,395$2,906$2,478$2,106$1,784$847
16 years$3,150$2,666$2,247$1,886$1,577$704
17 years$2,934$2,456$2,044$1,694$1,398$587
18 years$2,742$2,269$1,866$1,527$1,243$490
19 years$2,571$2,103$1,709$1,380$1,108$410
20 years$2,416$1,954$1,568$1,250$990$343
21 years$2,277$1,820$1,442$1,134$886$287
22 years$2,151$1,699$1,329$1,031$794$241
23 years$2,035$1,589$1,227$939$713$202
24 years$1,930$1,489$1,135$856$641$170
25 years$1,833$1,397$1,051$782$576$143
26 years$1,744$1,313$975$715$519$120
27 years$1,661$1,236$905$655$468$101
28 years$1,585$1,165$842$600$422$85
29 years$1,514$1,099$783$550$381$71
30 years$1,447$1,038$730$505$345$60
31 years$1,385$981$680$464$312$51
32 years$1,328$928$635$426$282$43
33 years$1,273$879$593$392$255$36
34 years$1,222$833$554$360$231$30
35 years$1,174$790$518$332$209$25
36 years$1,129$750$484$306$190$21
37 years$1,087$712$453$282$172$18
38 years$1,046$677$424$260$156$15
39 years$1,008$644$398$239$141$13
40 years$972$612$373$221$128$11
41 years$938$583$349$204$116$9
42 years$905$555$328$188$105$8
43 years$874$529$308$173$96$6
44 years$845$504$289$160$87$5
45 years$817$481$271$148$79$5
46 years$790$459$255$137$72$4
47 years$764$438$239$126$65$3
48 years$740$418$225$117$59$3
49 years$717$399$211$108$54$2
50 years$694$381$199$100$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $711,000, adding $4,431 every year, while hoping to spend $50,136 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: 65/6/29 Blend
53$711,000$711,000$711,000$711,000
54$788,093$750,410$739,389$832,987
55$815,134$733,835$710,814$847,321
56$843,253$714,769$679,602$857,041
57$872,507$693,034$645,611$866,577
58$902,956$668,447$608,693$875,917
59$934,668$640,811$568,694$885,049
60$967,712$609,919$525,453$893,965
61$1,002,164$575,550$478,801$902,652
62$1,038,106$537,473$428,562$911,104
63$1,075,627$495,443$374,553$919,312
64$1,114,821$449,200$316,581$927,271
65$1,155,791$398,470$254,445$934,977
66$1,198,649$342,962$187,936$942,430
67$1,243,515$282,371$116,836$949,631
68$1,290,520$216,374$40,916$956,584
69$1,339,804$144,627$0$963,299
70$1,391,521$66,771$0$982,197
71$1,445,838$0$0$1,015,205
72$1,502,935$0$0$1,050,912
73$1,563,009$0$0$1,093,135
74$1,626,274$0$0$1,137,619
75$1,692,963$0$0$1,184,529
76$1,763,329$0$0$1,234,046
77$1,837,650$0$0$1,286,368
78$1,916,228$0$0$1,341,709
79$1,999,391$0$0$1,400,306
80$2,087,499$0$0$1,462,415
81$2,180,946$0$0$1,528,316
82$2,280,161$0$0$1,598,315
83$2,385,613$0$0$1,672,750
84$2,497,818$0$0$1,751,986
85$2,617,337$0$0$1,836,425
86$2,744,786$0$0$1,926,508
87$2,880,840$0$0$2,022,717
88$3,026,238$0$0$2,125,579
89$3,181,790$0$0$2,235,675
90$3,348,386$0$0$2,353,639
91$3,526,999$0$0$2,480,168
92$3,718,699$0$0$2,616,027
93$3,924,658$0$0$2,762,054
94$4,146,164$0$0$2,919,170
95$4,384,632$0$0$3,088,386
96$4,641,614$0$0$3,270,814
97$4,918,815$0$0$3,467,673
98$5,218,108$0$0$3,680,303
99$5,541,553$0$0$3,910,178
100$5,891,413$0$0$4,158,916