Can I retire at age 54 with 740,000?

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 $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%13.7%
1 years$61,109$60,564$60,033$59,515$59,009$58,103
2 years$30,252$29,688$29,142$28,613$28,099$27,189
3 years$19,967$19,402$18,857$18,333$17,827$16,941
4 years$14,826$14,262$13,723$13,208$12,715$11,859
5 years$11,743$11,182$10,650$10,145$9,665$8,842
6 years$9,687$9,131$8,607$8,113$7,648$6,859
7 years$8,220$7,668$7,152$6,670$6,220$5,465
8 years$7,120$6,573$6,066$5,595$5,160$4,439
9 years$6,265$5,723$5,224$4,766$4,345$3,659
10 years$5,581$5,044$4,555$4,108$3,703$3,049
11 years$5,022$4,491$4,010$3,575$3,184$2,563
12 years$4,556$4,031$3,559$3,136$2,759$2,170
13 years$4,163$3,643$3,179$2,769$2,406$1,848
14 years$3,826$3,311$2,857$2,458$2,109$1,581
15 years$3,534$3,025$2,579$2,192$1,857$1,358
16 years$3,278$2,775$2,338$1,963$1,641$1,170
17 years$3,054$2,556$2,128$1,763$1,455$1,011
18 years$2,854$2,362$1,942$1,589$1,294$876
19 years$2,675$2,189$1,778$1,436$1,153$760
20 years$2,515$2,034$1,632$1,301$1,030$661
21 years$2,370$1,894$1,501$1,180$922$576
22 years$2,238$1,768$1,383$1,073$826$502
23 years$2,119$1,654$1,277$977$742$438
24 years$2,009$1,550$1,181$891$667$383
25 years$1,908$1,454$1,094$814$600$335
26 years$1,815$1,367$1,015$744$540$293
27 years$1,729$1,286$942$681$487$257
28 years$1,649$1,212$876$624$440$225
29 years$1,575$1,143$815$572$397$197
30 years$1,506$1,080$759$525$359$173
31 years$1,442$1,021$708$483$324$152
32 years$1,382$966$661$443$293$133
33 years$1,325$915$617$408$266$117
34 years$1,272$867$576$375$240$102
35 years$1,222$822$539$345$218$90
36 years$1,175$780$504$318$197$79
37 years$1,131$741$472$293$179$69
38 years$1,089$704$442$270$162$61
39 years$1,049$670$414$249$147$54
40 years$1,012$637$388$230$133$47
41 years$976$607$364$212$121$41
42 years$942$578$341$196$110$36
43 years$910$551$320$181$100$32
44 years$879$525$301$167$90$28
45 years$850$500$282$154$82$25
46 years$822$477$265$142$75$22
47 years$796$456$249$131$68$19
48 years$770$435$234$121$61$17
49 years$746$415$220$112$56$15
50 years$722$397$207$104$51$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $740,000, adding $6,715 every year, while hoping to spend $33,198 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: 73/6/21 Blend
53$740,000$740,000$740,000$740,000
54$822,407$783,187$771,717$877,792
55$870,970$786,240$762,247$918,563
56$923,373$788,331$751,347$958,579
57$979,975$789,376$738,934$1,001,582
58$1,041,165$789,289$724,922$1,047,861
59$1,107,377$787,977$709,219$1,097,737
60$1,179,082$785,340$691,730$1,151,566
61$1,256,801$781,275$672,357$1,209,737
62$1,341,108$775,671$650,994$1,272,682
63$1,432,632$768,409$627,533$1,340,877
64$1,532,065$759,366$601,860$1,414,847
65$1,640,169$748,408$573,856$1,495,169
66$1,757,783$735,397$543,396$1,582,483
67$1,885,828$720,183$510,352$1,677,493
68$2,025,320$702,609$474,586$1,780,976
69$2,177,375$682,509$435,956$1,893,790
70$2,343,221$659,706$394,315$2,016,879
71$2,524,212$634,014$349,507$2,151,287
72$2,721,837$605,236$301,371$2,298,164
73$2,937,735$573,163$249,737$2,458,779
74$3,173,709$537,573$194,428$2,634,531
75$3,431,747$498,234$135,261$2,826,964
76$3,714,036$454,898$72,043$3,037,781
77$4,022,984$407,305$4,574$3,268,859
78$4,361,244$355,178$0$3,522,269
79$4,731,736$298,227$0$3,815,403
80$5,137,675$236,142$0$4,137,747
81$5,582,605$168,600$0$4,491,103
82$6,070,425$95,256$0$4,878,588
83$6,605,432$15,747$0$5,303,635
84$7,192,358$0$0$5,770,026
85$7,836,416$0$0$6,286,570
86$8,543,347$0$0$6,854,716
87$9,319,474$0$0$7,478,510
88$10,171,764$0$0$8,163,557
89$11,107,892$0$0$8,916,029
90$12,136,311$0$0$9,742,726
91$13,266,334$0$0$10,651,140
92$14,508,222$0$0$11,649,525
93$15,873,276$0$0$12,746,971
94$17,373,951$0$0$13,953,497
95$19,023,965$0$0$15,280,138
96$20,838,433$0$0$16,739,052
97$22,834,008$0$0$18,343,637
98$25,029,040$0$0$20,108,651
99$27,443,742$0$0$22,050,357
100$30,100,388$0$0$24,186,671