Can I retire at age 54 with 724,000?

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 $724,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$59,787$59,255$58,735$58,228$57,733$57,321
2 years$29,598$29,046$28,512$27,994$27,492$27,076
3 years$19,536$18,982$18,449$17,936$17,442$17,036
4 years$14,506$13,954$13,426$12,922$12,440$12,046
5 years$11,489$10,940$10,419$9,925$9,456$9,077
6 years$9,478$8,933$8,420$7,937$7,483$7,117
7 years$8,042$7,502$6,997$6,526$6,085$5,734
8 years$6,966$6,431$5,934$5,474$5,048$4,712
9 years$6,129$5,599$5,111$4,663$4,251$3,929
10 years$5,460$4,935$4,456$4,019$3,622$3,314
11 years$4,913$4,394$3,923$3,498$3,115$2,821
12 years$4,458$3,944$3,482$3,068$2,700$2,419
13 years$4,073$3,564$3,111$2,709$2,354$2,087
14 years$3,743$3,239$2,795$2,405$2,064$1,809
15 years$3,457$2,959$2,523$2,145$1,817$1,575
16 years$3,208$2,715$2,288$1,920$1,606$1,376
17 years$2,988$2,500$2,082$1,725$1,424$1,206
18 years$2,792$2,311$1,900$1,555$1,266$1,060
19 years$2,618$2,141$1,740$1,405$1,128$933
20 years$2,461$1,990$1,597$1,272$1,008$824
21 years$2,319$1,853$1,469$1,155$902$728
22 years$2,190$1,730$1,354$1,050$809$644
23 years$2,073$1,618$1,250$956$726$571
24 years$1,965$1,516$1,156$872$652$507
25 years$1,867$1,423$1,071$796$587$450
26 years$1,776$1,337$993$728$529$400
27 years$1,692$1,258$922$667$477$356
28 years$1,614$1,186$857$611$430$317
29 years$1,541$1,119$798$560$388$282
30 years$1,474$1,057$743$514$351$252
31 years$1,411$999$693$472$317$224
32 years$1,352$945$646$434$287$200
33 years$1,297$895$603$399$260$179
34 years$1,245$848$564$367$235$160
35 years$1,196$805$527$338$213$142
36 years$1,150$764$493$311$193$127
37 years$1,106$725$462$287$175$114
38 years$1,065$689$432$264$159$102
39 years$1,027$655$405$244$144$91
40 years$990$624$380$225$130$81
41 years$955$594$356$207$118$73
42 years$922$565$334$191$107$65
43 years$890$539$313$177$97$58
44 years$860$513$294$163$88$52
45 years$832$490$276$151$80$46
46 years$804$467$259$139$73$42
47 years$778$446$244$129$66$37
48 years$753$425$229$119$60$33
49 years$730$406$215$110$55$30
50 years$707$388$202$101$50$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $724,000, adding $3,512 every year, while hoping to spend $22,874 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: 88/7/5 Blend
53$724,000$724,000$724,000$724,000
54$801,471$763,099$751,877$871,778
55$858,883$776,153$752,727$931,109
56$921,385$789,080$752,839$992,748
57$989,471$801,850$752,164$1,059,753
58$1,063,686$814,429$750,650$1,132,647
59$1,144,629$826,784$748,245$1,212,006
60$1,232,961$838,876$744,891$1,298,464
61$1,329,408$850,666$740,529$1,392,719
62$1,434,769$862,110$735,098$1,495,541
63$1,549,924$873,162$728,532$1,607,776
64$1,675,842$883,773$720,764$1,730,358
65$1,813,591$893,890$711,723$1,864,313
66$1,964,344$903,458$701,333$2,010,772
67$2,129,396$912,416$689,516$2,170,982
68$2,310,171$920,701$676,191$2,346,316
69$2,508,238$928,245$661,273$2,538,285
70$2,725,324$934,975$644,672$2,748,555
71$2,963,332$940,813$626,293$2,978,961
72$3,224,358$945,679$606,040$3,231,523
73$3,510,709$949,484$583,809$3,508,469
74$3,824,928$952,136$559,494$3,812,252
75$4,169,816$953,536$532,982$4,145,574
76$4,548,457$953,579$504,156$4,511,414
77$4,964,249$952,153$472,895$4,913,051
78$5,420,935$949,141$439,069$5,354,102
79$5,922,638$944,417$402,546$5,838,548
80$6,473,901$937,848$363,185$6,370,777
81$7,079,729$929,292$320,841$6,955,626
82$7,745,633$918,599$275,362$7,598,421
83$8,477,689$905,612$226,588$8,305,034
84$9,282,588$890,161$174,353$9,081,932
85$10,167,701$872,069$118,483$9,936,243
86$11,141,153$851,146$58,798$10,875,821
87$12,211,891$827,193$0$11,909,320
88$13,389,776$799,998$0$13,046,538
89$14,685,672$769,336$0$14,301,087
90$16,111,549$734,972$0$15,681,418
91$17,680,596$696,654$0$17,200,300
92$19,407,344$654,118$0$18,871,809
93$21,307,805$607,081$0$20,711,450
94$23,399,621$555,249$0$22,736,312
95$25,702,234$498,307$0$24,965,223
96$28,237,062$435,924$0$27,418,932
97$31,027,708$367,750$0$30,120,301
98$34,100,179$293,416$0$33,094,524
99$37,483,134$212,529$0$36,369,365
100$41,208,150$124,679$0$39,975,414