Can I retire at age 54 with 840,000?

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 $840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$69,366$68,749$68,146$67,557$66,983$65,927
2 years$34,340$33,700$33,080$32,479$31,897$30,836
3 years$22,666$22,023$21,405$20,810$20,236$19,204
4 years$16,830$16,190$15,578$14,992$14,433$13,436
5 years$13,329$12,693$12,089$11,516$10,972$10,013
6 years$10,996$10,365$9,770$9,209$8,681$7,763
7 years$9,331$8,704$8,119$7,571$7,060$6,182
8 years$8,082$7,461$6,885$6,351$5,857$5,019
9 years$7,111$6,496$5,930$5,410$4,933$4,134
10 years$6,335$5,726$5,170$4,663$4,203$3,443
11 years$5,700$5,098$4,552$4,059$3,615$2,892
12 years$5,172$4,575$4,039$3,560$3,132$2,447
13 years$4,725$4,135$3,609$3,143$2,731$2,083
14 years$4,342$3,758$3,243$2,790$2,394$1,781
15 years$4,011$3,433$2,928$2,488$2,108$1,528
16 years$3,722$3,150$2,654$2,228$1,863$1,316
17 years$3,466$2,901$2,415$2,002$1,652$1,137
18 years$3,240$2,681$2,205$1,804$1,469$984
19 years$3,037$2,484$2,019$1,630$1,309$853
20 years$2,855$2,309$1,853$1,476$1,169$742
21 years$2,690$2,150$1,704$1,340$1,047$645
22 years$2,541$2,007$1,570$1,218$938$562
23 years$2,405$1,877$1,450$1,109$842$490
24 years$2,280$1,759$1,341$1,012$757$428
25 years$2,166$1,651$1,242$924$681$374
26 years$2,060$1,551$1,152$845$613$327
27 years$1,963$1,460$1,070$773$553$286
28 years$1,872$1,376$994$709$499$250
29 years$1,788$1,298$925$650$451$219
30 years$1,710$1,226$862$596$407$192
31 years$1,637$1,159$804$548$368$168
32 years$1,568$1,096$750$503$333$148
33 years$1,504$1,038$700$463$301$130
34 years$1,444$984$654$426$273$114
35 years$1,387$933$612$392$247$100
36 years$1,334$886$572$361$224$87
37 years$1,284$841$535$333$203$77
38 years$1,236$800$501$307$184$67
39 years$1,191$760$470$283$167$59
40 years$1,148$723$440$261$151$52
41 years$1,108$689$413$241$137$46
42 years$1,069$656$387$222$125$40
43 years$1,033$625$363$205$113$35
44 years$998$596$341$189$103$31
45 years$965$568$320$175$93$27
46 years$933$542$301$161$85$24
47 years$903$517$283$149$77$21
48 years$874$494$266$138$70$18
49 years$847$471$250$127$63$16
50 years$820$450$235$118$58$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $840,000, adding $2,296 every year, while hoping to spend $42,136 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: 40/42/18 Blend
53$840,000$840,000$840,000$840,000
54$928,048$883,528$870,508$960,130
55$977,877$881,989$854,838$981,682
56$1,031,376$878,962$837,230$1,000,751
57$1,088,875$874,330$817,576$1,020,497
58$1,150,736$867,968$795,761$1,041,006
59$1,217,357$859,744$771,665$1,062,372
60$1,289,175$849,519$745,164$1,084,702
61$1,366,669$837,144$716,125$1,108,118
62$1,450,367$822,461$684,412$1,132,758
63$1,540,847$805,305$649,883$1,158,777
64$1,638,746$785,497$612,387$1,186,351
65$1,744,764$762,853$571,768$1,215,677
66$1,859,670$737,172$527,862$1,246,975
67$1,984,310$708,248$480,499$1,280,496
68$2,119,615$675,856$429,500$1,316,518
69$2,266,607$639,765$374,680$1,355,355
70$2,426,412$599,724$315,843$1,397,357
71$2,600,268$555,473$252,786$1,442,918
72$2,789,538$506,734$185,297$1,492,476
73$2,995,721$453,214$113,155$1,546,523
74$3,220,467$394,604$36,128$1,605,605
75$3,465,591$330,576$0$1,670,335
76$3,733,092$260,785$0$1,750,243
77$4,025,169$184,865$0$1,845,221
78$4,344,244$102,431$0$1,949,219
79$4,692,983$13,076$0$2,063,233
80$5,074,320$0$0$2,188,367
81$5,491,487$0$0$2,364,496
82$5,948,042$0$0$2,563,977
83$6,447,904$0$0$2,782,491
84$6,995,385$0$0$3,021,939
85$7,595,238$0$0$3,284,413
86$8,252,696$0$0$3,572,218
87$8,973,521$0$0$3,887,892
88$9,764,059$0$0$4,234,231
89$10,631,303$0$0$4,614,315
90$11,582,952$0$0$5,031,535
91$12,627,488$0$0$5,489,628
92$13,774,253$0$0$5,992,710
93$15,033,539$0$0$6,545,316
94$16,416,683$0$0$7,152,439
95$17,936,175$0$0$7,819,584
96$19,605,771$0$0$8,552,812
97$21,440,630$0$0$9,358,801
98$23,457,449$0$0$10,244,909
99$25,674,624$0$0$11,219,244
100$28,112,424$0$0$12,290,735