Can I retire at age 54 with 893,000?

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 $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$73,743$73,086$72,445$71,820$71,209$70,116
2 years$36,506$35,827$35,168$34,529$33,909$32,810
3 years$24,096$23,413$22,756$22,123$21,513$20,443
4 years$17,892$17,211$16,560$15,938$15,343$14,310
5 years$14,170$13,494$12,852$12,242$11,664$10,671
6 years$11,690$11,019$10,386$9,790$9,229$8,277
7 years$9,919$9,253$8,631$8,049$7,506$6,595
8 years$8,592$7,932$7,320$6,752$6,227$5,357
9 years$7,560$6,906$6,304$5,751$5,244$4,415
10 years$6,735$6,087$5,496$4,958$4,468$3,679
11 years$6,060$5,419$4,839$4,315$3,843$3,093
12 years$5,498$4,864$4,294$3,785$3,330$2,619
13 years$5,023$4,396$3,837$3,341$2,904$2,230
14 years$4,616$3,996$3,447$2,966$2,545$1,908
15 years$4,264$3,650$3,112$2,645$2,241$1,639
16 years$3,956$3,349$2,822$2,368$1,981$1,412
17 years$3,685$3,084$2,568$2,128$1,756$1,221
18 years$3,444$2,850$2,344$1,918$1,562$1,057
19 years$3,229$2,641$2,146$1,733$1,392$918
20 years$3,035$2,454$1,969$1,569$1,243$798
21 years$2,860$2,286$1,811$1,424$1,113$695
22 years$2,701$2,134$1,670$1,295$997$606
23 years$2,557$1,996$1,542$1,179$895$529
24 years$2,424$1,870$1,426$1,076$805$462
25 years$2,302$1,755$1,320$982$724$404
26 years$2,190$1,649$1,225$898$652$354
27 years$2,086$1,552$1,137$822$588$310
28 years$1,990$1,463$1,057$753$531$271
29 years$1,901$1,380$984$691$479$238
30 years$1,818$1,303$916$634$433$208
31 years$1,740$1,232$854$582$391$183
32 years$1,667$1,166$797$535$354$160
33 years$1,599$1,104$744$492$320$141
34 years$1,535$1,046$695$453$290$124
35 years$1,475$992$650$417$263$109
36 years$1,418$942$608$384$238$95
37 years$1,365$895$569$354$216$84
38 years$1,314$850$533$326$196$74
39 years$1,266$808$499$301$177$65
40 years$1,221$769$468$277$161$57
41 years$1,178$732$439$256$146$50
42 years$1,137$697$412$236$132$44
43 years$1,098$664$386$218$120$39
44 years$1,061$633$363$201$109$34
45 years$1,026$604$341$186$99$30
46 years$992$576$320$172$90$26
47 years$960$550$300$159$82$23
48 years$929$525$282$147$74$20
49 years$900$501$265$135$67$18
50 years$872$479$250$125$61$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $893,000, adding $4,354 every year, while hoping to spend $37,384 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: 58/30/12 Blend
53$893,000$893,000$893,000$893,000
54$988,577$941,248$927,407$1,042,737
55$1,049,636$947,593$918,698$1,086,127
56$1,115,669$952,996$908,446$1,128,860
57$1,187,146$957,371$896,557$1,174,548
58$1,264,580$960,627$882,937$1,223,480
59$1,348,537$962,668$867,485$1,275,975
60$1,439,640$963,391$850,098$1,332,386
61$1,538,572$962,685$830,664$1,393,101
62$1,646,085$960,436$809,071$1,458,551
63$1,763,008$956,520$785,197$1,529,212
64$1,890,252$950,806$758,918$1,605,608
65$2,028,818$943,156$730,102$1,688,322
66$2,179,809$933,423$698,613$1,777,994
67$2,344,439$921,450$664,306$1,875,334
68$2,524,044$907,072$627,032$1,981,124
69$2,720,093$890,115$586,634$2,096,230
70$2,934,204$870,393$542,948$2,221,608
71$3,168,160$847,710$495,804$2,358,313
72$3,423,922$821,857$445,022$2,507,512
73$3,703,648$792,614$390,417$2,670,493
74$4,009,717$759,749$331,793$2,848,677
75$4,344,746$723,014$268,946$3,043,635
76$4,711,618$682,150$201,663$3,257,102
77$5,113,508$636,880$129,724$3,490,993
78$5,553,912$586,914$52,896$3,747,422
79$6,036,680$531,941$0$4,028,723
80$6,566,053$471,638$0$4,341,198
81$7,146,701$405,659$0$4,691,436
82$7,783,770$333,641$0$5,075,831
83$8,482,924$255,200$0$5,497,884
84$9,250,406$169,929$0$5,961,455
85$10,093,092$77,399$0$6,470,805
86$11,018,555$0$0$7,030,631
87$12,035,137$0$0$7,653,657
88$13,152,031$0$0$8,366,311
89$14,379,361$0$0$9,149,513
90$15,728,283$0$0$10,010,392
91$17,211,084$0$0$10,956,801
92$18,841,305$0$0$11,997,392
93$20,633,861$0$0$13,141,697
94$22,605,186$0$0$14,400,220
95$24,773,386$0$0$15,784,531
96$27,158,410$0$0$17,307,380
97$29,782,239$0$0$18,982,814
98$32,669,088$0$0$20,826,310
99$35,845,642$0$0$22,854,920
100$39,341,299$0$0$25,087,435