Can I retire at age 54 with 742,000?

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 $742,000?

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$61,274$60,728$60,195$59,676$59,168$58,746
2 years$30,333$29,769$29,221$28,690$28,175$27,750
3 years$20,021$19,454$18,908$18,382$17,876$17,460
4 years$14,866$14,301$13,760$13,243$12,749$12,346
5 years$11,774$11,212$10,678$10,172$9,692$9,302
6 years$9,713$9,155$8,630$8,135$7,669$7,294
7 years$8,242$7,689$7,171$6,688$6,237$5,877
8 years$7,139$6,591$6,082$5,610$5,174$4,829
9 years$6,281$5,738$5,238$4,779$4,357$4,027
10 years$5,596$5,058$4,567$4,119$3,713$3,396
11 years$5,035$4,503$4,021$3,585$3,193$2,891
12 years$4,569$4,042$3,568$3,145$2,767$2,479
13 years$4,174$3,652$3,188$2,776$2,413$2,139
14 years$3,836$3,320$2,864$2,464$2,115$1,854
15 years$3,543$3,033$2,586$2,198$1,862$1,614
16 years$3,287$2,783$2,345$1,968$1,646$1,411
17 years$3,062$2,563$2,134$1,768$1,459$1,236
18 years$2,862$2,368$1,948$1,593$1,298$1,086
19 years$2,683$2,195$1,783$1,440$1,157$957
20 years$2,522$2,039$1,636$1,304$1,033$844
21 years$2,376$1,900$1,505$1,184$924$746
22 years$2,245$1,773$1,387$1,076$829$660
23 years$2,124$1,658$1,281$980$744$585
24 years$2,014$1,554$1,185$894$669$519
25 years$1,913$1,458$1,097$816$602$461
26 years$1,820$1,370$1,018$746$542$410
27 years$1,734$1,290$945$683$489$365
28 years$1,654$1,215$878$626$441$325
29 years$1,580$1,147$817$574$398$289
30 years$1,510$1,083$761$527$360$258
31 years$1,446$1,024$710$484$325$230
32 years$1,385$969$662$445$294$205
33 years$1,329$917$618$409$266$183
34 years$1,276$869$578$376$241$164
35 years$1,226$825$540$346$218$146
36 years$1,178$783$505$319$198$130
37 years$1,134$743$473$294$179$117
38 years$1,092$706$443$271$163$104
39 years$1,052$672$415$250$147$93
40 years$1,014$639$389$230$134$83
41 years$979$608$365$213$121$74
42 years$945$579$342$196$110$67
43 years$912$552$321$181$100$60
44 years$882$526$301$167$91$53
45 years$852$502$283$154$82$48
46 years$824$479$266$143$75$43
47 years$798$457$250$132$68$38
48 years$772$436$235$122$62$34
49 years$748$416$221$113$56$31
50 years$724$398$207$104$51$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $742,000, adding $6,988 every year, while hoping to spend $44,146 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: 77/8/15 Blend
53$742,000$742,000$742,000$742,000
54$824,892$785,566$774,065$885,248
55$862,060$777,088$753,025$917,553
56$901,540$766,715$729,801$946,711
57$943,520$754,307$704,273$977,468
58$988,208$739,717$676,315$1,009,967
59$1,035,830$722,788$645,796$1,044,366
60$1,086,635$703,355$612,581$1,080,843
61$1,140,894$681,241$576,524$1,119,589
62$1,198,905$656,262$537,478$1,160,821
63$1,260,995$628,221$495,285$1,204,773
64$1,327,523$596,909$449,783$1,251,709
65$1,398,879$562,107$400,800$1,301,915
66$1,475,497$523,583$348,159$1,355,711
67$1,557,849$481,089$291,673$1,413,448
68$1,646,453$434,367$231,148$1,475,517
69$1,741,881$383,140$166,382$1,542,346
70$1,844,759$327,120$97,161$1,614,409
71$1,955,774$265,998$23,266$1,692,231
72$2,075,682$199,452$0$1,776,390
73$2,205,315$127,138$0$1,876,423
74$2,345,584$48,694$0$1,988,689
75$2,497,493$0$0$2,110,281
76$2,662,146$0$0$2,245,292
77$2,840,755$0$0$2,396,420
78$3,034,656$0$0$2,560,508
79$3,245,315$0$0$2,738,804
80$3,474,346$0$0$2,932,674
81$3,723,526$0$0$3,143,627
82$3,994,808$0$0$3,373,319
83$4,290,343$0$0$3,623,574
84$4,612,496$0$0$3,896,400
85$4,963,872$0$0$4,194,006
86$5,347,337$0$0$4,518,823
87$5,766,046$0$0$4,873,527
88$6,223,471$0$0$5,261,066
89$6,723,435$0$0$5,684,683
90$7,270,150$0$0$6,147,948
91$7,868,248$0$0$6,654,795
92$8,522,833$0$0$7,209,552
93$9,239,525$0$0$7,816,988
94$10,024,511$0$0$8,482,352
95$10,884,606$0$0$9,211,426
96$11,827,315$0$0$10,010,577
97$12,860,904$0$0$10,886,819
98$13,994,475$0$0$11,847,876
99$15,238,056$0$0$12,902,254
100$16,602,691$0$0$14,059,324