Can I retire at age 54 with 720,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$59,457$58,927$58,411$57,906$57,414$56,791
2 years$29,434$28,886$28,355$27,840$27,340$26,712
3 years$19,428$18,877$18,347$17,837$17,346$16,733
4 years$14,426$13,877$13,352$12,851$12,371$11,779
5 years$11,425$10,880$10,362$9,870$9,404$8,833
6 years$9,425$8,884$8,374$7,894$7,441$6,893
7 years$7,998$7,461$6,959$6,490$6,052$5,526
8 years$6,927$6,395$5,902$5,444$5,020$4,517
9 years$6,095$5,568$5,083$4,637$4,228$3,747
10 years$5,430$4,908$4,431$3,997$3,602$3,144
11 years$4,886$4,369$3,901$3,479$3,098$2,661
12 years$4,433$3,922$3,462$3,051$2,685$2,269
13 years$4,050$3,544$3,093$2,694$2,341$1,946
14 years$3,722$3,221$2,779$2,391$2,052$1,677
15 years$3,438$2,943$2,509$2,133$1,807$1,451
16 years$3,190$2,700$2,275$1,910$1,597$1,260
17 years$2,971$2,487$2,070$1,716$1,416$1,098
18 years$2,777$2,298$1,890$1,546$1,259$958
19 years$2,603$2,130$1,730$1,397$1,122$839
20 years$2,447$1,979$1,588$1,265$1,002$735
21 years$2,306$1,843$1,461$1,148$897$645
22 years$2,178$1,721$1,346$1,044$804$567
23 years$2,061$1,609$1,243$951$722$500
24 years$1,954$1,508$1,149$867$649$440
25 years$1,856$1,415$1,065$792$584$388
26 years$1,766$1,330$987$724$526$343
27 years$1,682$1,252$917$663$474$303
28 years$1,605$1,179$852$607$428$268
29 years$1,533$1,113$793$557$386$237
30 years$1,466$1,051$739$511$349$209
31 years$1,403$993$689$469$316$185
32 years$1,344$940$643$431$285$164
33 years$1,289$890$600$397$258$145
34 years$1,238$844$561$365$234$129
35 years$1,189$800$524$336$212$114
36 years$1,144$759$490$309$192$101
37 years$1,100$721$459$285$174$90
38 years$1,060$685$430$263$158$80
39 years$1,021$652$403$242$143$71
40 years$984$620$377$224$130$63
41 years$950$590$354$206$118$56
42 years$917$562$332$190$107$49
43 years$885$536$312$176$97$44
44 years$855$511$292$162$88$39
45 years$827$487$275$150$80$34
46 years$800$464$258$138$73$31
47 years$774$443$242$128$66$27
48 years$749$423$228$118$60$24
49 years$726$404$214$109$54$21
50 years$703$386$201$101$49$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $720,000, adding $3,647 every year, while hoping to spend $48,908 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: 59/16/25 Blend
53$720,000$720,000$720,000$720,000
54$797,202$759,042$747,882$838,669
55$826,479$744,197$720,898$852,503
56$857,103$726,986$691,371$862,022
57$889,159$707,241$659,165$871,358
58$922,742$684,783$624,135$880,506
59$957,951$659,427$586,132$889,461
60$994,895$630,972$545,001$898,220
61$1,033,694$599,209$500,578$906,784
62$1,074,475$563,915$452,692$915,154
63$1,117,380$524,856$401,166$923,336
64$1,162,560$481,781$345,812$931,340
65$1,210,182$434,429$286,437$939,180
66$1,260,426$382,521$222,838$946,873
67$1,313,489$325,764$154,803$954,445
68$1,369,586$263,848$82,110$961,926
69$1,428,952$196,445$4,529$969,354
70$1,491,843$123,208$0$976,776
71$1,558,538$43,773$0$1,005,123
72$1,629,344$0$0$1,036,232
73$1,704,595$0$0$1,076,480
74$1,784,657$0$0$1,127,533
75$1,869,931$0$0$1,181,942
76$1,960,854$0$0$1,239,993
77$2,057,907$0$0$1,301,995
78$2,161,617$0$0$1,368,291
79$2,272,561$0$0$1,439,254
80$2,391,369$0$0$1,515,294
81$2,518,737$0$0$1,596,861
82$2,655,426$0$0$1,684,448
83$2,802,269$0$0$1,778,598
84$2,960,184$0$0$1,879,905
85$3,130,177$0$0$1,989,021
86$3,313,353$0$0$2,106,665
87$3,510,926$0$0$2,233,623
88$3,724,229$0$0$2,370,761
89$3,954,727$0$0$2,519,031
90$4,204,031$0$0$2,679,477
91$4,473,910$0$0$2,853,250
92$4,766,311$0$0$3,041,611
93$5,083,373$0$0$3,245,952
94$5,427,448$0$0$3,467,799
95$5,801,124$0$0$3,708,834
96$6,207,248$0$0$3,970,905
97$6,648,950$0$0$4,256,046
98$7,129,675$0$0$4,566,494
99$7,653,215$0$0$4,904,713
100$8,223,739$0$0$5,273,412