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%12.5%
1 years$72,670$72,022$71,391$70,774$70,172$69,440
2 years$35,975$35,305$34,656$34,026$33,415$32,677
3 years$23,745$23,072$22,425$21,801$21,200$20,480
4 years$17,631$16,961$16,319$15,706$15,120$14,423
5 years$13,964$13,297$12,664$12,064$11,494$10,822
6 years$11,520$10,858$10,235$9,648$9,095$8,449
7 years$9,775$9,119$8,505$7,932$7,397$6,778
8 years$8,467$7,816$7,213$6,654$6,136$5,544
9 years$7,450$6,806$6,213$5,668$5,168$4,601
10 years$6,637$5,999$5,416$4,886$4,403$3,862
11 years$5,972$5,340$4,768$4,252$3,787$3,271
12 years$5,418$4,793$4,232$3,729$3,281$2,791
13 years$4,950$4,332$3,781$3,293$2,862$2,395
14 years$4,549$3,937$3,397$2,923$2,508$2,066
15 years$4,202$3,597$3,067$2,607$2,209$1,789
16 years$3,899$3,300$2,781$2,334$1,952$1,555
17 years$3,631$3,039$2,530$2,097$1,731$1,355
18 years$3,394$2,808$2,310$1,890$1,539$1,184
19 years$3,182$2,603$2,115$1,708$1,372$1,037
20 years$2,991$2,419$1,941$1,547$1,225$909
21 years$2,818$2,253$1,785$1,404$1,096$799
22 years$2,662$2,103$1,645$1,276$983$703
23 years$2,519$1,967$1,519$1,162$882$619
24 years$2,389$1,843$1,405$1,060$793$546
25 years$2,269$1,729$1,301$968$714$482
26 years$2,158$1,625$1,207$885$643$426
27 years$2,056$1,530$1,121$810$579$377
28 years$1,961$1,441$1,042$742$523$333
29 years$1,873$1,360$969$681$472$295
30 years$1,791$1,284$903$625$427$261
31 years$1,715$1,214$842$574$386$231
32 years$1,643$1,149$785$527$349$205
33 years$1,576$1,088$733$485$316$182
34 years$1,513$1,031$685$446$286$161
35 years$1,454$978$641$411$259$143
36 years$1,398$928$599$378$235$127
37 years$1,345$882$561$349$213$113
38 years$1,295$838$525$321$193$100
39 years$1,248$797$492$296$175$89
40 years$1,203$758$461$273$159$79
41 years$1,161$721$433$252$144$70
42 years$1,120$687$406$233$131$62
43 years$1,082$655$381$215$118$55
44 years$1,046$624$357$198$108$49
45 years$1,011$595$336$183$98$44
46 years$978$568$315$169$89$39
47 years$946$542$296$156$80$34
48 years$916$517$278$144$73$31
49 years$887$494$262$133$66$27
50 years$859$472$246$123$60$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $880,000, adding $2,320 every year, while hoping to spend $53,559 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: 82/13/5 Blend
53$880,000$880,000$880,000$880,000
54$972,153$925,513$911,873$1,051,590
55$1,014,326$913,877$885,434$1,092,191
56$1,059,006$899,875$856,315$1,129,316
57$1,106,392$883,336$824,369$1,168,399
58$1,156,701$864,077$789,442$1,209,604
59$1,210,171$841,903$751,375$1,253,112
60$1,267,063$816,611$710,001$1,299,121
61$1,327,662$787,984$665,145$1,347,851
62$1,392,280$755,792$616,623$1,399,543
63$1,461,259$719,791$564,246$1,454,464
64$1,534,973$679,727$507,814$1,512,905
65$1,613,832$635,326$447,118$1,575,192
66$1,698,288$586,301$381,941$1,641,681
67$1,788,833$532,350$312,056$1,712,764
68$1,886,010$473,150$237,225$1,788,875
69$1,990,411$408,364$157,201$1,870,493
70$2,102,691$337,631$71,725$1,958,145
71$2,223,565$260,574$0$2,052,412
72$2,353,820$176,794$0$2,154,978
73$2,494,319$85,866$0$2,269,661
74$2,646,012$0$0$2,393,427
75$2,809,942$0$0$2,528,965
76$2,987,255$0$0$2,688,871
77$3,179,211$0$0$2,861,998
78$3,387,195$0$0$3,049,598
79$3,612,730$0$0$3,253,048
80$3,857,490$0$0$3,473,859
81$4,123,319$0$0$3,713,697
82$4,412,242$0$0$3,974,392
83$4,726,487$0$0$4,257,957
84$5,068,508$0$0$4,566,609
85$5,441,003$0$0$4,902,784
86$5,846,940$0$0$5,269,167
87$6,289,588$0$0$5,668,709
88$6,772,543$0$0$6,104,660
89$7,299,765$0$0$6,580,597
90$7,875,610$0$0$7,100,458
91$8,504,877$0$0$7,668,576
92$9,192,846$0$0$8,289,724
93$9,945,333$0$0$8,969,157
94$10,768,740$0$0$9,712,658
95$11,670,118$0$0$10,526,600
96$12,657,230$0$0$11,417,995
97$13,738,626$0$0$12,394,571
98$14,923,720$0$0$13,464,833
99$16,222,881$0$0$14,638,151
100$17,647,531$0$0$15,924,844