Can I retire at age 54 with 740,000?

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 $740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$61,109$60,564$60,033$59,515$59,009$57,936
2 years$30,252$29,688$29,142$28,613$28,099$27,022
3 years$19,967$19,402$18,857$18,333$17,827$16,780
4 years$14,826$14,262$13,723$13,208$12,715$11,704
5 years$11,743$11,182$10,650$10,145$9,665$8,696
6 years$9,687$9,131$8,607$8,113$7,648$6,719
7 years$8,220$7,668$7,152$6,670$6,220$5,333
8 years$7,120$6,573$6,066$5,595$5,160$4,315
9 years$6,265$5,723$5,224$4,766$4,345$3,541
10 years$5,581$5,044$4,555$4,108$3,703$2,938
11 years$5,022$4,491$4,010$3,575$3,184$2,459
12 years$4,556$4,031$3,559$3,136$2,759$2,073
13 years$4,163$3,643$3,179$2,769$2,406$1,757
14 years$3,826$3,311$2,857$2,458$2,109$1,496
15 years$3,534$3,025$2,579$2,192$1,857$1,279
16 years$3,278$2,775$2,338$1,963$1,641$1,097
17 years$3,054$2,556$2,128$1,763$1,455$943
18 years$2,854$2,362$1,942$1,589$1,294$813
19 years$2,675$2,189$1,778$1,436$1,153$702
20 years$2,515$2,034$1,632$1,301$1,030$607
21 years$2,370$1,894$1,501$1,180$922$526
22 years$2,238$1,768$1,383$1,073$826$456
23 years$2,119$1,654$1,277$977$742$396
24 years$2,009$1,550$1,181$891$667$344
25 years$1,908$1,454$1,094$814$600$299
26 years$1,815$1,367$1,015$744$540$260
27 years$1,729$1,286$942$681$487$227
28 years$1,649$1,212$876$624$440$197
29 years$1,575$1,143$815$572$397$172
30 years$1,506$1,080$759$525$359$150
31 years$1,442$1,021$708$483$324$131
32 years$1,382$966$661$443$293$114
33 years$1,325$915$617$408$266$100
34 years$1,272$867$576$375$240$87
35 years$1,222$822$539$345$218$76
36 years$1,175$780$504$318$197$66
37 years$1,131$741$472$293$179$58
38 years$1,089$704$442$270$162$51
39 years$1,049$670$414$249$147$44
40 years$1,012$637$388$230$133$39
41 years$976$607$364$212$121$34
42 years$942$578$341$196$110$29
43 years$910$551$320$181$100$26
44 years$879$525$301$167$90$22
45 years$850$500$282$154$82$20
46 years$822$477$265$142$75$17
47 years$796$456$249$131$68$15
48 years$770$435$234$121$61$13
49 years$746$415$220$112$56$11
50 years$722$397$207$104$51$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $740,000, adding $5,719 every year, while hoping to spend $56,760 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: 46/32/22 Blend
53$740,000$740,000$740,000$740,000
54$821,379$782,159$770,689$853,748
55$844,768$760,093$736,115$854,974
56$868,639$735,043$698,480$850,242
57$892,984$706,803$657,623$843,951
58$917,787$675,155$613,372$835,981
59$943,033$639,869$565,551$826,207
60$968,700$600,700$513,975$814,493
61$994,763$557,391$458,449$800,698
62$1,021,194$509,668$398,772$784,668
63$1,047,957$457,243$334,732$766,241
64$1,075,011$399,811$266,108$745,244
65$1,102,311$337,050$192,671$721,494
66$1,129,800$268,619$114,180$694,793
67$1,157,418$194,160$30,383$664,933
68$1,185,093$113,292$0$631,691
69$1,212,744$25,614$0$608,688
70$1,240,278$0$0$590,324
71$1,267,592$0$0$593,657
72$1,294,567$0$0$605,790
73$1,321,070$0$0$617,636
74$1,346,952$0$0$629,117
75$1,372,045$0$0$640,146
76$1,396,160$0$0$650,626
77$1,419,086$0$0$660,449
78$1,440,587$0$0$669,492
79$1,460,398$0$0$677,621
80$1,478,226$0$0$684,683
81$1,493,742$0$0$690,512
82$1,506,579$0$0$694,918
83$1,516,330$0$0$697,694
84$1,522,543$0$0$698,609
85$1,524,714$0$0$697,403
86$1,522,282$0$0$693,792
87$1,514,626$0$0$687,458
88$1,501,058$0$0$678,049
89$1,480,811$0$0$665,175
90$1,453,039$0$0$648,404
91$1,416,801$0$0$627,257
92$1,371,057$0$0$601,204
93$1,314,654$0$0$569,657
94$1,246,316$0$0$531,967
95$1,164,631$0$0$487,415
96$1,068,036$0$0$435,206
97$954,804$0$0$374,461
98$823,024$0$0$304,208
99$670,584$0$0$223,374
100$495,148$0$0$130,770