Can I retire at age 54 with 712,000?

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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$58,796$58,273$57,762$57,263$56,776$56,113
2 years$29,107$28,565$28,040$27,530$27,036$26,369
3 years$19,212$18,668$18,143$17,639$17,153$16,502
4 years$14,265$13,723$13,204$12,708$12,234$11,604
5 years$11,298$10,759$10,247$9,761$9,300$8,693
6 years$9,321$8,785$8,281$7,806$7,359$6,776
7 years$7,909$7,378$6,881$6,418$5,984$5,426
8 years$6,850$6,324$5,836$5,384$4,965$4,431
9 years$6,028$5,506$5,027$4,586$4,181$3,671
10 years$5,370$4,854$4,382$3,953$3,562$3,076
11 years$4,832$4,321$3,858$3,440$3,064$2,601
12 years$4,384$3,878$3,424$3,017$2,655$2,215
13 years$4,005$3,505$3,059$2,664$2,315$1,897
14 years$3,681$3,186$2,749$2,365$2,030$1,633
15 years$3,400$2,910$2,482$2,109$1,787$1,411
16 years$3,154$2,670$2,250$1,888$1,579$1,224
17 years$2,938$2,459$2,047$1,697$1,400$1,064
18 years$2,746$2,272$1,869$1,529$1,245$928
19 years$2,574$2,106$1,711$1,382$1,110$811
20 years$2,420$1,957$1,570$1,251$991$710
21 years$2,280$1,823$1,444$1,136$887$622
22 years$2,154$1,701$1,331$1,033$795$546
23 years$2,038$1,591$1,229$940$714$480
24 years$1,933$1,491$1,137$858$642$422
25 years$1,836$1,399$1,053$783$577$372
26 years$1,746$1,315$976$716$520$328
27 years$1,664$1,238$907$656$469$289
28 years$1,587$1,166$843$601$423$255
29 years$1,516$1,100$784$551$382$225
30 years$1,449$1,039$731$505$345$199
31 years$1,387$982$681$464$312$176
32 years$1,329$929$636$427$282$155
33 years$1,275$880$593$392$255$138
34 years$1,224$834$554$361$231$122
35 years$1,176$791$518$332$209$108
36 years$1,131$751$485$306$190$95
37 years$1,088$713$454$282$172$84
38 years$1,048$678$425$260$156$75
39 years$1,010$645$398$240$141$66
40 years$973$613$373$221$128$59
41 years$939$584$350$204$116$52
42 years$906$556$328$188$106$46
43 years$875$530$308$174$96$41
44 years$846$505$289$160$87$36
45 years$818$481$272$148$79$32
46 years$791$459$255$137$72$28
47 years$765$438$240$126$65$25
48 years$741$418$225$117$59$22
49 years$718$400$212$108$54$20
50 years$695$382$199$100$49$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $712,000, adding $5,297 every year, while hoping to spend $40,521 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: 49/33/18 Blend
53$712,000$712,000$712,000$712,000
54$790,088$752,352$741,316$824,586
55$827,563$746,103$723,036$842,764
56$867,502$738,190$702,785$857,922
57$910,114$728,488$680,456$873,521
58$955,628$716,866$655,933$889,616
59$1,004,293$703,184$629,098$906,274
60$1,056,385$687,294$599,827$923,567
61$1,112,205$669,040$567,989$941,581
62$1,172,082$648,255$533,449$960,411
63$1,236,379$624,764$496,065$980,166
64$1,305,494$598,382$455,687$1,000,968
65$1,379,864$568,912$412,162$1,022,957
66$1,459,967$536,146$365,326$1,046,289
67$1,546,330$499,864$315,012$1,071,142
68$1,639,532$459,833$261,041$1,097,714
69$1,740,209$415,809$203,230$1,126,229
70$1,849,057$367,531$141,385$1,156,939
71$1,966,846$314,725$75,306$1,190,127
72$2,094,418$257,101$4,783$1,226,107
73$2,232,702$194,352$0$1,265,235
74$2,382,718$126,155$0$1,321,442
75$2,545,587$52,168$0$1,383,498
76$2,722,543$0$0$1,451,022
77$2,914,943$0$0$1,534,772
78$3,124,282$0$0$1,646,575
79$3,352,202$0$0$1,768,372
80$3,600,511$0$0$1,901,139
81$3,871,198$0$0$2,045,948
82$4,166,454$0$0$2,203,981
83$4,488,688$0$0$2,376,537
84$4,840,553$0$0$2,565,049
85$5,224,971$0$0$2,771,091
86$5,645,155$0$0$2,996,398
87$6,104,647$0$0$3,242,880
88$6,607,342$0$0$3,512,640
89$7,157,533$0$0$3,807,994
90$7,759,946$0$0$4,131,491
91$8,419,783$0$0$4,485,940
92$9,142,775$0$0$4,874,434
93$9,935,235$0$0$5,300,378
94$10,804,112$0$0$5,767,524
95$11,757,062$0$0$6,280,004
96$12,802,518$0$0$6,842,369
97$13,949,766$0$0$7,459,632
98$15,209,038$0$0$8,137,315
99$16,591,601$0$0$8,881,501
100$18,109,870$0$0$9,698,890