Can I retire at age 54 with 724,000?

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 $724,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$59,787$59,255$58,735$58,228$57,733$57,130
2 years$29,598$29,046$28,512$27,994$27,492$26,885
3 years$19,536$18,982$18,449$17,936$17,442$16,849
4 years$14,506$13,954$13,426$12,922$12,440$11,866
5 years$11,489$10,940$10,419$9,925$9,456$8,904
6 years$9,478$8,933$8,420$7,937$7,483$6,952
7 years$8,042$7,502$6,997$6,526$6,085$5,576
8 years$6,966$6,431$5,934$5,474$5,048$4,561
9 years$6,129$5,599$5,111$4,663$4,251$3,785
10 years$5,460$4,935$4,456$4,019$3,622$3,178
11 years$4,913$4,394$3,923$3,498$3,115$2,692
12 years$4,458$3,944$3,482$3,068$2,700$2,296
13 years$4,073$3,564$3,111$2,709$2,354$1,971
14 years$3,743$3,239$2,795$2,405$2,064$1,700
15 years$3,457$2,959$2,523$2,145$1,817$1,472
16 years$3,208$2,715$2,288$1,920$1,606$1,279
17 years$2,988$2,500$2,082$1,725$1,424$1,115
18 years$2,792$2,311$1,900$1,555$1,266$974
19 years$2,618$2,141$1,740$1,405$1,128$853
20 years$2,461$1,990$1,597$1,272$1,008$748
21 years$2,319$1,853$1,469$1,155$902$657
22 years$2,190$1,730$1,354$1,050$809$578
23 years$2,073$1,618$1,250$956$726$510
24 years$1,965$1,516$1,156$872$652$449
25 years$1,867$1,423$1,071$796$587$397
26 years$1,776$1,337$993$728$529$350
27 years$1,692$1,258$922$667$477$310
28 years$1,614$1,186$857$611$430$274
29 years$1,541$1,119$798$560$388$243
30 years$1,474$1,057$743$514$351$215
31 years$1,411$999$693$472$317$190
32 years$1,352$945$646$434$287$169
33 years$1,297$895$603$399$260$150
34 years$1,245$848$564$367$235$133
35 years$1,196$805$527$338$213$118
36 years$1,150$764$493$311$193$104
37 years$1,106$725$462$287$175$93
38 years$1,065$689$432$264$159$82
39 years$1,027$655$405$244$144$73
40 years$990$624$380$225$130$65
41 years$955$594$356$207$118$58
42 years$922$565$334$191$107$51
43 years$890$539$313$177$97$45
44 years$860$513$294$163$88$40
45 years$832$490$276$151$80$36
46 years$804$467$259$139$73$32
47 years$778$446$244$129$66$28
48 years$753$425$229$119$60$25
49 years$730$406$215$110$55$22
50 years$707$388$202$101$50$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $724,000, adding $4,259 every year, while hoping to spend $32,388 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: 44/41/15 Blend
53$724,000$724,000$724,000$724,000
54$802,241$763,869$752,647$833,895
55$849,609$766,838$743,400$859,426
56$900,723$768,867$732,758$883,509
57$955,931$769,876$720,640$908,911
58$1,015,615$769,779$706,960$935,770
59$1,080,196$768,486$691,631$964,234
60$1,150,135$765,901$674,560$994,474
61$1,225,940$761,921$655,649$1,026,676
62$1,308,170$756,439$634,797$1,061,049
63$1,397,439$749,340$611,898$1,097,825
64$1,494,421$740,502$586,841$1,137,261
65$1,599,861$729,795$559,509$1,179,645
66$1,714,576$717,084$529,781$1,225,296
67$1,839,465$702,223$497,531$1,274,568
68$1,975,517$685,059$462,625$1,327,854
69$2,123,822$665,429$424,925$1,385,591
70$2,285,579$643,162$384,287$1,448,264
71$2,462,106$618,075$340,559$1,516,411
72$2,654,856$589,976$293,583$1,590,629
73$2,865,427$558,661$243,194$1,671,579
74$3,095,580$523,915$189,220$1,759,997
75$3,347,251$485,509$131,481$1,856,696
76$3,622,575$443,202$69,790$1,962,576
77$3,923,899$396,741$3,949$2,078,639
78$4,253,811$345,856$0$2,205,990
79$4,615,158$290,261$0$2,356,468
80$5,011,079$229,658$0$2,522,183
81$5,445,025$163,728$0$2,704,039
82$5,920,803$92,136$0$2,903,736
83$6,442,603$14,529$0$3,123,155
84$7,015,040$0$0$3,364,372
85$7,643,196$0$0$3,661,023
86$8,332,672$0$0$3,993,918
87$9,089,636$0$0$4,359,492
88$9,920,881$0$0$4,761,038
89$10,833,893$0$0$5,202,183
90$11,836,916$0$0$5,686,924
91$12,939,033$0$0$6,219,663
92$14,150,250$0$0$6,805,250
93$15,481,593$0$0$7,449,030
94$16,945,204$0$0$8,156,889
95$18,554,466$0$0$8,935,313
96$20,324,119$0$0$9,791,449
97$22,270,405$0$0$10,733,170
98$24,411,218$0$0$11,769,151
99$26,766,276$0$0$12,908,949
100$29,357,301$0$0$14,163,097