Can I retire at age 54 with 743,000?

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 $743,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$61,356$60,810$60,277$59,756$59,248$57,123
2 years$30,374$29,809$29,260$28,729$28,213$26,095
3 years$20,048$19,480$18,933$18,407$17,900$15,856
4 years$14,886$14,320$13,779$13,261$12,766$10,811
5 years$11,790$11,227$10,693$10,186$9,705$7,844
6 years$9,727$9,168$8,641$8,146$7,679$5,914
7 years$8,253$7,699$7,181$6,697$6,245$4,576
8 years$7,149$6,600$6,090$5,618$5,181$3,605
9 years$6,290$5,746$5,245$4,785$4,363$2,879
10 years$5,603$5,065$4,573$4,125$3,718$2,323
11 years$5,042$4,509$4,026$3,590$3,197$1,889
12 years$4,575$4,047$3,573$3,149$2,771$1,546
13 years$4,179$3,657$3,192$2,780$2,416$1,271
14 years$3,841$3,324$2,868$2,468$2,118$1,050
15 years$3,548$3,037$2,590$2,201$1,865$869
16 years$3,292$2,786$2,348$1,971$1,648$722
17 years$3,066$2,566$2,136$1,771$1,461$601
18 years$2,865$2,371$1,950$1,596$1,299$501
19 years$2,686$2,198$1,785$1,442$1,158$418
20 years$2,525$2,042$1,639$1,306$1,034$350
21 years$2,380$1,902$1,507$1,185$926$292
22 years$2,248$1,776$1,389$1,078$830$245
23 years$2,127$1,661$1,283$981$745$205
24 years$2,017$1,556$1,186$895$669$172
25 years$1,916$1,460$1,099$817$602$144
26 years$1,822$1,372$1,019$747$543$121
27 years$1,736$1,292$946$684$489$102
28 years$1,656$1,217$880$627$441$85
29 years$1,582$1,148$819$575$399$72
30 years$1,512$1,084$762$527$360$60
31 years$1,448$1,025$711$484$326$51
32 years$1,387$970$663$445$295$43
33 years$1,331$918$619$409$267$36
34 years$1,277$870$579$377$241$30
35 years$1,227$826$541$347$219$25
36 years$1,180$784$506$319$198$21
37 years$1,136$744$474$294$180$18
38 years$1,093$707$444$271$163$15
39 years$1,054$673$416$250$148$13
40 years$1,016$640$389$231$134$11
41 years$980$609$365$213$121$9
42 years$946$580$343$196$110$8
43 years$914$553$321$181$100$6
44 years$883$527$302$167$91$5
45 years$853$502$283$155$82$4
46 years$825$479$266$143$75$4
47 years$799$457$250$132$68$3
48 years$773$437$235$122$62$3
49 years$749$417$221$113$56$2
50 years$725$398$208$104$51$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $743,000, adding $4,371 every year, while hoping to spend $44,633 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: 40/50/10 Blend
53$743,000$743,000$743,000$743,000
54$823,295$783,916$772,399$853,590
55$859,782$774,838$750,785$866,248
56$898,494$763,820$726,952$875,173
57$939,613$750,719$700,776$883,828
58$983,333$735,385$672,133$892,206
59$1,029,872$717,657$640,888$900,305
60$1,079,464$697,368$606,902$908,127
61$1,132,367$674,337$570,032$915,677
62$1,188,865$648,376$530,124$922,964
63$1,249,267$619,284$487,021$930,003
64$1,313,913$586,849$440,557$936,816
65$1,383,175$550,848$390,558$943,433
66$1,457,462$511,042$336,845$949,889
67$1,537,222$467,182$279,229$956,233
68$1,622,947$419,003$217,511$962,521
69$1,715,177$366,224$151,488$968,824
70$1,814,506$308,550$80,943$975,225
71$1,921,584$245,667$5,654$981,826
72$2,037,128$177,247$0$988,744
73$2,161,922$102,939$0$1,004,087
74$2,296,831$22,376$0$1,021,208
75$2,442,804$0$0$1,039,719
76$2,600,884$0$0$1,095,535
77$2,772,220$0$0$1,169,455
78$2,958,072$0$0$1,249,724
79$3,159,829$0$0$1,336,951
80$3,379,015$0$0$1,431,808
81$3,617,311$0$0$1,535,032
82$3,876,562$0$0$1,647,436
83$4,158,801$0$0$1,769,915
84$4,466,264$0$0$1,903,451
85$4,801,410$0$0$2,049,127
86$5,166,948$0$0$2,208,135
87$5,565,859$0$0$2,381,787
88$6,001,423$0$0$2,571,527
89$6,477,252$0$0$2,778,944
90$6,997,321$0$0$3,005,790
91$7,566,008$0$0$3,253,990
92$8,188,132$0$0$3,525,668
93$8,869,001$0$0$3,823,159
94$9,614,457$0$0$4,149,038
95$10,430,935$0$0$4,506,137
96$11,325,521$0$0$4,897,579
97$12,306,021$0$0$5,326,800
98$13,381,028$0$0$5,797,585
99$14,560,009$0$0$6,314,106
100$15,853,391$0$0$6,880,955