Can I retire at age 54 with 723,000?

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 $723,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$59,705$59,173$58,654$58,148$57,653$56,535
2 years$29,557$29,006$28,473$27,956$27,454$26,332
3 years$19,509$18,956$18,424$17,911$17,418$16,327
4 years$14,486$13,935$13,408$12,904$12,423$11,372
5 years$11,473$10,925$10,405$9,912$9,443$8,435
6 years$9,465$8,921$8,409$7,926$7,472$6,508
7 years$8,031$7,492$6,988$6,517$6,077$5,156
8 years$6,956$6,422$5,926$5,467$5,041$4,164
9 years$6,121$5,591$5,104$4,656$4,246$3,411
10 years$5,453$4,929$4,450$4,014$3,617$2,826
11 years$4,906$4,388$3,918$3,493$3,111$2,361
12 years$4,452$3,938$3,477$3,064$2,696$1,986
13 years$4,067$3,559$3,106$2,705$2,351$1,680
14 years$3,738$3,235$2,791$2,401$2,061$1,428
15 years$3,452$2,955$2,520$2,142$1,815$1,218
16 years$3,203$2,711$2,285$1,918$1,604$1,042
17 years$2,983$2,497$2,079$1,723$1,422$894
18 years$2,788$2,307$1,898$1,553$1,264$769
19 years$2,614$2,138$1,737$1,403$1,127$663
20 years$2,457$1,987$1,594$1,271$1,007$572
21 years$2,316$1,851$1,467$1,153$901$494
22 years$2,187$1,728$1,352$1,049$807$428
23 years$2,070$1,616$1,248$955$725$370
24 years$1,963$1,514$1,154$871$651$321
25 years$1,864$1,421$1,069$795$586$279
26 years$1,773$1,335$992$727$528$242
27 years$1,689$1,257$921$666$476$210
28 years$1,611$1,184$856$610$430$183
29 years$1,539$1,117$796$559$388$159
30 years$1,472$1,055$742$513$350$138
31 years$1,409$997$692$471$317$120
32 years$1,350$944$645$433$287$104
33 years$1,295$894$603$398$259$91
34 years$1,243$847$563$367$235$79
35 years$1,194$803$526$337$213$69
36 years$1,148$763$492$311$193$60
37 years$1,105$724$461$286$175$52
38 years$1,064$688$432$264$158$46
39 years$1,025$655$404$243$144$40
40 years$988$623$379$224$130$35
41 years$954$593$355$207$118$30
42 years$920$565$333$191$107$26
43 years$889$538$313$176$97$23
44 years$859$513$294$163$88$20
45 years$830$489$276$150$80$17
46 years$803$466$259$139$73$15
47 years$777$445$243$128$66$13
48 years$752$425$229$119$60$12
49 years$729$406$215$110$55$10
50 years$706$388$202$101$50$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $723,000, adding $2,158 every year, while hoping to spend $49,757 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: 55/34/11 Blend
53$723,000$723,000$723,000$723,000
54$798,972$760,653$749,446$840,582
55$827,526$744,984$721,612$853,353
56$857,325$726,879$691,177$861,625
57$888,443$706,168$658,003$869,458
58$920,961$682,667$621,943$876,822
59$954,966$656,184$582,844$883,682
60$990,551$626,515$540,548$890,004
61$1,027,818$593,446$494,888$895,755
62$1,066,878$556,747$445,689$900,901
63$1,107,850$516,178$392,770$905,407
64$1,150,864$471,484$335,941$909,240
65$1,196,061$422,396$275,004$912,367
66$1,243,594$368,628$209,751$914,755
67$1,293,630$309,880$139,967$916,375
68$1,346,350$245,833$65,425$917,196
69$1,401,951$176,153$0$917,193
70$1,460,649$100,483$0$917,999
71$1,522,679$18,451$0$926,238
72$1,588,297$0$0$934,239
73$1,657,783$0$0$968,338
74$1,731,442$0$0$1,011,835
75$1,809,607$0$0$1,058,027
76$1,892,645$0$0$1,107,135
77$1,980,954$0$0$1,159,399
78$2,074,971$0$0$1,215,083
79$2,175,175$0$0$1,274,476
80$2,282,089$0$0$1,337,894
81$2,396,287$0$0$1,405,683
82$2,518,399$0$0$1,478,223
83$2,649,113$0$0$1,555,932
84$2,789,185$0$0$1,639,264
85$2,939,446$0$0$1,728,722
86$3,100,805$0$0$1,824,856
87$3,274,260$0$0$1,928,270
88$3,460,910$0$0$2,039,626
89$3,661,956$0$0$2,159,652
90$3,878,723$0$0$2,289,149
91$4,112,662$0$0$2,428,995
92$4,365,370$0$0$2,580,154
93$4,638,600$0$0$2,743,690
94$4,934,280$0$0$2,920,767
95$5,254,530$0$0$3,112,668
96$5,601,679$0$0$3,320,805
97$5,978,290$0$0$3,546,726
98$6,387,181$0$0$3,792,138
99$6,831,450$0$0$4,058,916
100$7,314,507$0$0$4,349,126