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%11%
1 years$73,743$73,086$72,445$71,820$71,209$70,909
2 years$36,506$35,827$35,168$34,529$33,909$33,606
3 years$24,096$23,413$22,756$22,123$21,513$21,217
4 years$17,892$17,211$16,560$15,938$15,343$15,056
5 years$14,170$13,494$12,852$12,242$11,664$11,386
6 years$11,690$11,019$10,386$9,790$9,229$8,961
7 years$9,919$9,253$8,631$8,049$7,506$7,248
8 years$8,592$7,932$7,320$6,752$6,227$5,979
9 years$7,560$6,906$6,304$5,751$5,244$5,006
10 years$6,735$6,087$5,496$4,958$4,468$4,240
11 years$6,060$5,419$4,839$4,315$3,843$3,625
12 years$5,498$4,864$4,294$3,785$3,330$3,122
13 years$5,023$4,396$3,837$3,341$2,904$2,705
14 years$4,616$3,996$3,447$2,966$2,545$2,356
15 years$4,264$3,650$3,112$2,645$2,241$2,061
16 years$3,956$3,349$2,822$2,368$1,981$1,809
17 years$3,685$3,084$2,568$2,128$1,756$1,593
18 years$3,444$2,850$2,344$1,918$1,562$1,407
19 years$3,229$2,641$2,146$1,733$1,392$1,245
20 years$3,035$2,454$1,969$1,569$1,243$1,104
21 years$2,860$2,286$1,811$1,424$1,113$981
22 years$2,701$2,134$1,670$1,295$997$873
23 years$2,557$1,996$1,542$1,179$895$778
24 years$2,424$1,870$1,426$1,076$805$694
25 years$2,302$1,755$1,320$982$724$620
26 years$2,190$1,649$1,225$898$652$554
27 years$2,086$1,552$1,137$822$588$496
28 years$1,990$1,463$1,057$753$531$444
29 years$1,901$1,380$984$691$479$397
30 years$1,818$1,303$916$634$433$356
31 years$1,740$1,232$854$582$391$320
32 years$1,667$1,166$797$535$354$287
33 years$1,599$1,104$744$492$320$257
34 years$1,535$1,046$695$453$290$231
35 years$1,475$992$650$417$263$208
36 years$1,418$942$608$384$238$187
37 years$1,365$895$569$354$216$168
38 years$1,314$850$533$326$196$151
39 years$1,266$808$499$301$177$136
40 years$1,221$769$468$277$161$122
41 years$1,178$732$439$256$146$110
42 years$1,137$697$412$236$132$99
43 years$1,098$664$386$218$120$89
44 years$1,061$633$363$201$109$80
45 years$1,026$604$341$186$99$72
46 years$992$576$320$172$90$65
47 years$960$550$300$159$82$58
48 years$929$525$282$147$74$52
49 years$900$501$265$135$67$47
50 years$872$479$250$125$61$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $893,000, adding $6,488 every year, while hoping to spend $34,443 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: 39/34/27 Blend
53$893,000$893,000$893,000$893,000
54$990,778$943,449$929,608$1,021,272
55$1,055,191$953,031$924,103$1,053,674
56$1,125,019$961,928$917,259$1,085,024
57$1,200,778$970,071$908,995$1,118,260
58$1,283,037$977,384$899,225$1,153,576
59$1,372,420$983,788$887,862$1,191,187
60$1,469,612$989,199$874,811$1,231,332
61$1,575,370$993,528$859,975$1,274,277
62$1,690,525$996,678$843,251$1,320,316
63$1,815,992$998,548$824,533$1,369,777
64$1,952,777$999,030$803,709$1,423,022
65$2,101,987$998,010$780,660$1,480,454
66$2,264,843$995,366$755,266$1,542,520
67$2,442,687$990,969$727,397$1,609,715
68$2,636,995$984,681$696,919$1,682,588
69$2,849,396$976,357$663,693$1,761,746
70$3,081,680$965,844$627,572$1,847,864
71$3,335,818$952,977$588,402$1,941,689
72$3,613,982$937,584$546,025$2,044,047
73$3,918,563$919,480$500,271$2,155,854
74$4,252,194$898,472$450,968$2,278,123
75$4,617,774$874,354$397,932$2,411,977
76$5,018,497$846,907$340,973$2,558,657
77$5,457,880$815,902$279,891$2,719,537
78$5,939,796$781,093$214,479$2,896,137
79$6,468,511$742,223$144,521$3,090,137
80$7,048,725$699,018$69,788$3,303,398
81$7,685,615$651,189$0$3,537,974
82$8,384,882$598,431$0$3,799,010
83$9,152,807$540,422$0$4,107,789
84$9,996,309$476,818$0$4,447,037
85$10,923,011$407,261$0$4,819,901
86$11,941,309$331,368$0$5,229,852
87$13,060,455$248,737$0$5,680,723
88$14,290,639$158,943$0$6,176,740
89$15,643,090$61,537$0$6,722,570
90$17,130,177$0$0$7,323,357
91$18,765,529$0$0$8,001,226
92$20,564,161$0$0$8,772,232
93$22,542,617$0$0$9,620,459
94$24,719,124$0$0$10,553,739
95$27,113,765$0$0$11,580,702
96$29,748,668$0$0$12,710,855
97$32,648,215$0$0$13,954,674
98$35,839,268$0$0$15,323,703
99$39,351,428$0$0$16,830,662
100$43,217,310$0$0$18,489,564