Can I retire at age 54 with 723,000?

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 $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%18.6%
1 years$59,705$59,173$58,654$58,148$57,653$55,652
2 years$29,557$29,006$28,473$27,956$27,454$25,458
3 years$19,509$18,956$18,424$17,911$17,418$15,491
4 years$14,486$13,935$13,408$12,904$12,423$10,579
5 years$11,473$10,925$10,405$9,912$9,443$7,687
6 years$9,465$8,921$8,409$7,926$7,472$5,806
7 years$8,031$7,492$6,988$6,517$6,077$4,499
8 years$6,956$6,422$5,926$5,467$5,041$3,552
9 years$6,121$5,591$5,104$4,656$4,246$2,842
10 years$5,453$4,929$4,450$4,014$3,617$2,297
11 years$4,906$4,388$3,918$3,493$3,111$1,872
12 years$4,452$3,938$3,477$3,064$2,696$1,535
13 years$4,067$3,559$3,106$2,705$2,351$1,265
14 years$3,738$3,235$2,791$2,401$2,061$1,046
15 years$3,452$2,955$2,520$2,142$1,815$868
16 years$3,203$2,711$2,285$1,918$1,604$723
17 years$2,983$2,497$2,079$1,723$1,422$603
18 years$2,788$2,307$1,898$1,553$1,264$504
19 years$2,614$2,138$1,737$1,403$1,127$421
20 years$2,457$1,987$1,594$1,271$1,007$353
21 years$2,316$1,851$1,467$1,153$901$296
22 years$2,187$1,728$1,352$1,049$807$249
23 years$2,070$1,616$1,248$955$725$209
24 years$1,963$1,514$1,154$871$651$175
25 years$1,864$1,421$1,069$795$586$148
26 years$1,773$1,335$992$727$528$124
27 years$1,689$1,257$921$666$476$104
28 years$1,611$1,184$856$610$430$88
29 years$1,539$1,117$796$559$388$74
30 years$1,472$1,055$742$513$350$62
31 years$1,409$997$692$471$317$53
32 years$1,350$944$645$433$287$44
33 years$1,295$894$603$398$259$37
34 years$1,243$847$563$367$235$31
35 years$1,194$803$526$337$213$26
36 years$1,148$763$492$311$193$22
37 years$1,105$724$461$286$175$19
38 years$1,064$688$432$264$158$16
39 years$1,025$655$404$243$144$13
40 years$988$623$379$224$130$11
41 years$954$593$355$207$118$10
42 years$920$565$333$191$107$8
43 years$889$538$313$176$97$7
44 years$859$513$294$163$88$6
45 years$830$489$276$150$80$5
46 years$803$466$259$139$73$4
47 years$777$445$243$128$66$3
48 years$752$425$229$119$60$3
49 years$729$406$215$110$55$2
50 years$706$388$202$101$50$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $723,000, adding $6,416 every year, while hoping to spend $21,222 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: 46/46/8 Blend
53$723,000$723,000$723,000$723,000
54$803,364$765,045$753,839$838,256
55$862,727$779,952$756,512$877,869
56$927,434$794,879$758,564$918,094
57$998,007$809,803$759,951$961,238
58$1,075,022$824,701$760,627$1,007,578
59$1,159,112$839,549$760,546$1,057,419
60$1,250,974$854,319$759,657$1,111,098
61$1,351,375$868,983$757,907$1,168,984
62$1,461,160$883,508$755,242$1,231,487
63$1,581,260$897,861$751,604$1,299,057
64$1,712,698$912,006$746,932$1,372,190
65$1,856,603$925,904$741,164$1,451,436
66$2,014,216$939,513$734,233$1,537,397
67$2,186,905$952,788$726,069$1,630,739
68$2,376,177$965,682$716,599$1,732,198
69$2,583,690$978,143$705,748$1,842,583
70$2,811,271$990,117$693,435$1,962,787
71$3,060,932$1,001,545$679,577$2,093,796
72$3,334,891$1,012,364$664,087$2,236,696
73$3,635,589$1,022,509$646,872$2,392,684
74$3,965,715$1,031,907$627,838$2,563,083
75$4,328,231$1,040,484$606,885$2,749,348
76$4,726,402$1,048,159$583,906$2,953,088
77$5,163,821$1,054,846$558,794$3,176,073
78$5,644,451$1,060,452$531,433$3,420,259
79$6,172,653$1,064,883$501,704$3,687,799
80$6,753,234$1,068,033$469,482$3,981,071
81$7,391,490$1,069,792$434,635$4,302,696
82$8,093,255$1,070,045$397,029$4,655,562
83$8,864,957$1,068,668$356,519$5,042,858
84$9,713,678$1,065,527$312,958$5,468,097
85$10,647,220$1,060,485$266,188$5,935,154
86$11,674,179$1,053,392$216,049$6,448,302
87$12,804,028$1,044,090$162,369$7,012,253
88$14,047,203$1,032,415$104,972$7,632,202
89$15,415,202$1,018,188$43,673$8,313,877
90$16,920,695$1,001,222$0$9,063,596
91$18,577,643$981,318$0$9,890,177
92$20,401,427$958,267$0$10,803,544
93$22,408,997$931,846$0$11,808,448
94$24,619,027$901,819$0$12,914,243
95$27,052,096$867,936$0$14,131,240
96$29,730,878$829,934$0$15,470,805
97$32,680,360$787,533$0$16,945,469
98$35,928,073$740,438$0$18,569,046
99$39,504,352$688,336$0$20,356,764
100$43,442,629$630,897$0$22,325,410