Can I retire at age 54 with 741,000?

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 $741,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$61,191$60,646$60,114$59,595$59,088$57,660
2 years$30,293$29,728$29,182$28,652$28,137$26,707
3 years$19,994$19,428$18,882$18,357$17,851$16,464
4 years$14,846$14,282$13,742$13,225$12,732$11,397
5 years$11,758$11,197$10,664$10,158$9,679$8,401
6 years$9,700$9,143$8,618$8,124$7,658$6,439
7 years$8,231$7,678$7,162$6,679$6,228$5,067
8 years$7,129$6,582$6,074$5,603$5,167$4,064
9 years$6,273$5,731$5,231$4,772$4,351$3,305
10 years$5,588$5,051$4,561$4,114$3,708$2,718
11 years$5,029$4,497$4,015$3,580$3,189$2,253
12 years$4,562$4,036$3,563$3,140$2,763$1,881
13 years$4,168$3,647$3,184$2,772$2,410$1,578
14 years$3,831$3,315$2,861$2,461$2,112$1,330
15 years$3,538$3,029$2,583$2,195$1,860$1,125
16 years$3,283$2,779$2,342$1,965$1,644$955
17 years$3,058$2,559$2,131$1,766$1,457$812
18 years$2,858$2,365$1,945$1,591$1,296$692
19 years$2,679$2,192$1,781$1,438$1,155$591
20 years$2,518$2,037$1,634$1,302$1,032$506
21 years$2,373$1,897$1,503$1,182$923$433
22 years$2,242$1,771$1,385$1,075$828$371
23 years$2,121$1,656$1,279$979$743$319
24 years$2,011$1,552$1,183$893$668$274
25 years$1,910$1,456$1,096$815$601$235
26 years$1,817$1,369$1,016$745$541$202
27 years$1,731$1,288$944$682$488$174
28 years$1,652$1,214$877$625$440$150
29 years$1,577$1,145$816$573$398$129
30 years$1,508$1,081$760$526$359$111
31 years$1,444$1,022$709$483$325$96
32 years$1,384$967$661$444$294$82
33 years$1,327$916$618$408$266$71
34 years$1,274$868$577$376$241$61
35 years$1,224$823$539$346$218$53
36 years$1,177$782$505$319$198$45
37 years$1,132$742$472$293$179$39
38 years$1,090$705$442$270$162$34
39 years$1,051$671$414$249$147$29
40 years$1,013$638$388$230$134$25
41 years$977$608$364$212$121$22
42 years$943$579$342$196$110$19
43 years$911$551$321$181$100$16
44 years$880$525$301$167$91$14
45 years$851$501$283$154$82$12
46 years$823$478$265$142$75$10
47 years$797$456$249$132$68$9
48 years$771$435$234$122$62$8
49 years$747$416$220$112$56$7
50 years$723$397$207$104$51$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $741,000, adding $5,621 every year, while hoping to spend $23,785 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: 65/6/29 Blend
53$741,000$741,000$741,000$741,000
54$822,380$783,107$771,622$869,168
55$880,956$796,172$772,164$914,567
56$944,709$809,080$771,927$961,038
57$1,014,143$821,799$770,860$1,011,319
58$1,089,811$834,292$768,909$1,065,788
59$1,172,322$846,523$766,018$1,124,863
60$1,262,347$858,451$762,128$1,189,004
61$1,360,623$870,032$757,176$1,258,718
62$1,467,963$881,220$751,098$1,334,564
63$1,585,262$891,966$743,826$1,417,160
64$1,713,503$902,217$735,289$1,507,187
65$1,853,772$911,917$725,412$1,605,394
66$2,007,260$921,005$714,118$1,712,611
67$2,175,283$929,416$701,323$1,829,749
68$2,359,288$937,084$686,943$1,957,816
69$2,560,868$943,934$670,889$2,097,921
70$2,781,779$949,889$653,066$2,251,290
71$3,023,954$954,866$633,377$2,419,272
72$3,289,521$958,778$611,718$2,603,356
73$3,580,825$961,532$587,984$2,805,183
74$3,900,449$963,026$562,061$3,026,564
75$4,251,237$963,158$533,833$3,269,495
76$4,636,324$961,813$503,177$3,536,177
77$5,059,160$958,873$469,965$3,829,037
78$5,523,549$954,212$434,063$4,150,749
79$6,033,679$947,696$395,331$4,504,265
80$6,594,163$939,183$353,624$4,892,836
81$7,210,086$928,521$308,789$5,320,050
82$7,887,048$915,551$260,667$5,789,859
83$8,631,218$900,105$209,090$6,306,623
84$9,449,394$882,001$153,886$6,875,148
85$10,349,064$861,051$94,874$7,500,731
86$11,338,480$837,054$31,862$8,189,213
87$12,426,730$809,795$0$8,947,033
88$13,623,832$779,050$0$9,792,237
89$14,940,819$744,580$0$10,732,936
90$16,389,851$706,133$0$11,767,953
91$17,984,324$663,442$0$12,906,866
92$19,738,999$616,224$0$14,160,230
93$21,670,139$564,181$0$15,539,675
94$23,795,664$506,997$0$17,058,018
95$26,135,322$444,339$0$18,729,381
96$28,710,868$375,855$0$20,569,326
97$31,546,276$301,172$0$22,595,001
98$34,667,964$219,897$0$24,825,303
99$38,105,038$131,614$0$27,281,055
100$41,889,574$35,886$0$29,985,204