Can I retire at age 54 with 824,000?

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 $824,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$68,045$67,439$66,848$66,271$65,707$64,433
2 years$33,686$33,058$32,450$31,861$31,289$30,011
3 years$22,234$21,604$20,998$20,414$19,851$18,608
4 years$16,509$15,881$15,281$14,707$14,158$12,960
5 years$13,075$12,451$11,859$11,296$10,763$9,613
6 years$10,787$10,167$9,583$9,034$8,516$7,417
7 years$9,153$8,538$7,964$7,427$6,926$5,876
8 years$7,928$7,319$6,754$6,230$5,746$4,746
9 years$6,976$6,373$5,817$5,307$4,839$3,888
10 years$6,214$5,617$5,072$4,575$4,123$3,220
11 years$5,592$5,001$4,465$3,981$3,546$2,690
12 years$5,073$4,488$3,963$3,492$3,073$2,263
13 years$4,635$4,056$3,540$3,083$2,679$1,914
14 years$4,260$3,687$3,181$2,737$2,349$1,627
15 years$3,935$3,368$2,872$2,441$2,068$1,388
16 years$3,651$3,090$2,604$2,185$1,828$1,188
17 years$3,400$2,846$2,369$1,964$1,621$1,019
18 years$3,178$2,630$2,163$1,770$1,441$876
19 years$2,979$2,437$1,980$1,599$1,284$755
20 years$2,801$2,265$1,817$1,448$1,147$652
21 years$2,639$2,110$1,671$1,314$1,027$563
22 years$2,493$1,969$1,541$1,195$920$487
23 years$2,359$1,842$1,422$1,088$826$422
24 years$2,237$1,726$1,315$993$742$366
25 years$2,124$1,619$1,218$906$668$317
26 years$2,021$1,522$1,130$829$602$276
27 years$1,925$1,432$1,049$759$543$239
28 years$1,837$1,350$975$695$490$208
29 years$1,754$1,273$908$637$442$181
30 years$1,677$1,202$846$585$399$157
31 years$1,606$1,137$788$537$361$137
32 years$1,539$1,076$735$494$327$119
33 years$1,476$1,019$687$454$296$104
34 years$1,417$965$642$418$268$90
35 years$1,361$916$600$385$242$79
36 years$1,309$869$561$354$220$68
37 years$1,259$825$525$326$199$60
38 years$1,213$784$492$301$180$52
39 years$1,168$746$461$277$164$45
40 years$1,127$710$432$256$148$39
41 years$1,087$676$405$236$135$34
42 years$1,049$643$380$218$122$30
43 years$1,013$613$357$201$111$26
44 years$979$584$335$186$101$23
45 years$946$557$314$171$91$20
46 years$915$532$295$158$83$17
47 years$886$507$277$146$75$15
48 years$857$484$261$135$68$13
49 years$830$462$245$125$62$11
50 years$805$442$230$116$56$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $824,000, adding $2,264 every year, while hoping to spend $56,196 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: 68/18/14 Blend
53$824,000$824,000$824,000$824,000
54$910,383$866,711$853,939$969,220
55$943,450$849,388$822,754$991,365
56$978,007$829,333$788,641$1,008,693
57$1,014,145$806,351$751,442$1,026,213
58$1,051,965$780,240$710,993$1,043,938
59$1,091,577$750,783$667,122$1,061,882
60$1,133,096$717,749$619,649$1,080,065
61$1,176,650$680,898$568,386$1,098,510
62$1,222,379$639,972$513,137$1,117,244
63$1,270,432$594,701$453,698$1,136,298
64$1,320,972$544,798$389,853$1,155,711
65$1,374,178$489,960$321,379$1,175,525
66$1,430,242$429,866$248,044$1,195,793
67$1,489,376$364,178$169,602$1,216,572
68$1,551,809$292,539$85,800$1,237,931
69$1,617,791$214,571$0$1,259,947
70$1,687,596$129,875$0$1,283,254
71$1,761,521$38,030$0$1,321,123
72$1,839,894$0$0$1,360,885
73$1,923,069$0$0$1,414,881
74$2,011,437$0$0$1,480,275
75$2,105,423$0$0$1,549,854
76$2,205,494$0$0$1,623,965
77$2,312,159$0$0$1,702,990
78$2,425,978$0$0$1,787,347
79$2,547,562$0$0$1,877,494
80$2,677,584$0$0$1,973,934
81$2,816,778$0$0$2,077,215
82$2,965,951$0$0$2,187,942
83$3,125,989$0$0$2,306,777
84$3,297,862$0$0$2,434,447
85$3,482,636$0$0$2,571,749
86$3,681,482$0$0$2,719,559
87$3,895,684$0$0$2,878,839
88$4,126,653$0$0$3,050,645
89$4,375,940$0$0$3,236,136
90$4,645,247$0$0$3,436,590
91$4,936,448$0$0$3,653,406
92$5,251,598$0$0$3,888,125
93$5,592,960$0$0$4,142,441
94$5,963,021$0$0$4,418,216
95$6,364,514$0$0$4,717,497
96$6,800,448$0$0$5,042,536
97$7,274,130$0$0$5,395,810
98$7,789,198$0$0$5,780,045
99$8,349,656$0$0$6,198,239
100$8,959,909$0$0$6,653,690