Can I retire at age 54 with 880,000?

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 $880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$72,670$72,022$71,391$70,774$70,172$68,421
2 years$35,975$35,305$34,656$34,026$33,415$31,662
3 years$23,745$23,072$22,425$21,801$21,200$19,499
4 years$17,631$16,961$16,319$15,706$15,120$13,485
5 years$13,964$13,297$12,664$12,064$11,494$9,929
6 years$11,520$10,858$10,235$9,648$9,095$7,602
7 years$9,775$9,119$8,505$7,932$7,397$5,976
8 years$8,467$7,816$7,213$6,654$6,136$4,787
9 years$7,450$6,806$6,213$5,668$5,168$3,889
10 years$6,637$5,999$5,416$4,886$4,403$3,193
11 years$5,972$5,340$4,768$4,252$3,787$2,644
12 years$5,418$4,793$4,232$3,729$3,281$2,204
13 years$4,950$4,332$3,781$3,293$2,862$1,847
14 years$4,549$3,937$3,397$2,923$2,508$1,555
15 years$4,202$3,597$3,067$2,607$2,209$1,314
16 years$3,899$3,300$2,781$2,334$1,952$1,113
17 years$3,631$3,039$2,530$2,097$1,731$945
18 years$3,394$2,808$2,310$1,890$1,539$805
19 years$3,182$2,603$2,115$1,708$1,372$686
20 years$2,991$2,419$1,941$1,547$1,225$586
21 years$2,818$2,253$1,785$1,404$1,096$501
22 years$2,662$2,103$1,645$1,276$983$429
23 years$2,519$1,967$1,519$1,162$882$367
24 years$2,389$1,843$1,405$1,060$793$315
25 years$2,269$1,729$1,301$968$714$270
26 years$2,158$1,625$1,207$885$643$232
27 years$2,056$1,530$1,121$810$579$199
28 years$1,961$1,441$1,042$742$523$171
29 years$1,873$1,360$969$681$472$147
30 years$1,791$1,284$903$625$427$126
31 years$1,715$1,214$842$574$386$109
32 years$1,643$1,149$785$527$349$94
33 years$1,576$1,088$733$485$316$80
34 years$1,513$1,031$685$446$286$69
35 years$1,454$978$641$411$259$60
36 years$1,398$928$599$378$235$51
37 years$1,345$882$561$349$213$44
38 years$1,295$838$525$321$193$38
39 years$1,248$797$492$296$175$33
40 years$1,203$758$461$273$159$28
41 years$1,161$721$433$252$144$24
42 years$1,120$687$406$233$131$21
43 years$1,082$655$381$215$118$18
44 years$1,046$624$357$198$108$15
45 years$1,011$595$336$183$98$13
46 years$978$568$315$169$89$11
47 years$946$542$296$156$80$10
48 years$916$517$278$144$73$9
49 years$887$494$262$133$66$7
50 years$859$472$246$123$60$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $880,000, adding $6,989 every year, while hoping to spend $47,500 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: 66/18/16 Blend
53$880,000$880,000$880,000$880,000
54$976,969$930,329$916,689$1,037,230
55$1,026,080$925,376$896,859$1,073,442
56$1,078,609$918,587$874,772$1,106,843
57$1,134,853$909,824$850,303$1,142,183
58$1,195,141$898,938$823,320$1,179,652
59$1,259,830$885,771$793,687$1,219,458
60$1,329,316$870,157$761,258$1,261,832
61$1,404,030$851,918$725,884$1,307,032
62$1,484,447$830,869$687,407$1,355,340
63$1,571,089$806,809$645,664$1,407,072
64$1,664,528$779,531$600,481$1,462,576
65$1,765,393$748,811$551,681$1,522,239
66$1,874,375$714,415$499,074$1,586,487
67$1,992,235$676,095$442,467$1,655,795
68$2,119,806$633,587$381,653$1,730,686
69$2,258,007$586,614$316,419$1,811,740
70$2,407,847$534,881$246,542$1,899,599
71$2,570,436$478,078$171,789$1,994,973
72$2,746,993$415,877$91,918$2,098,647
73$2,938,863$347,932$6,673$2,211,492
74$3,147,521$273,874$0$2,334,468
75$3,374,592$193,318$0$2,483,030
76$3,621,864$105,854$0$2,646,113
77$3,891,304$11,052$0$2,823,925
78$4,185,078$0$0$3,017,956
79$4,505,568$0$0$3,247,980
80$4,855,396$0$0$3,501,503
81$5,237,451$0$0$3,778,436
82$5,654,909$0$0$4,081,089
83$6,111,269$0$0$4,412,007
84$6,610,385$0$0$4,773,989
85$7,156,497$0$0$5,170,120
86$7,754,276$0$0$5,603,796
87$8,408,864$0$0$6,078,756
88$9,125,926$0$0$6,599,118
89$9,911,698$0$0$7,169,418
90$10,773,048$0$0$7,794,649
91$11,717,543$0$0$8,480,313
92$12,753,514$0$0$9,232,470
93$13,890,138$0$0$10,057,792
94$15,137,525$0$0$10,963,631
95$16,506,809$0$0$11,958,083
96$18,010,255$0$0$13,050,069
97$19,661,375$0$0$14,249,413
98$21,475,053$0$0$15,566,940
99$23,467,685$0$0$17,014,574
100$25,657,334$0$0$18,605,450