Can I retire at age 54 with 894,000?

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 $894,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$73,826$73,168$72,527$71,900$71,289$68,460
2 years$36,547$35,867$35,207$34,567$33,947$31,132
3 years$24,123$23,439$22,781$22,148$21,537$18,825
4 years$17,912$17,230$16,579$15,956$15,361$12,772
5 years$14,186$13,509$12,866$12,256$11,677$9,218
6 years$11,703$11,031$10,398$9,801$9,240$6,912
7 years$9,930$9,264$8,640$8,058$7,514$5,317
8 years$8,601$7,941$7,328$6,760$6,234$4,165
9 years$7,568$6,914$6,311$5,758$5,250$3,306
10 years$6,742$6,094$5,502$4,963$4,473$2,650
11 years$6,067$5,425$4,844$4,320$3,847$2,141
12 years$5,504$4,869$4,299$3,789$3,334$1,741
13 years$5,029$4,401$3,841$3,345$2,907$1,421
14 years$4,622$4,000$3,451$2,969$2,548$1,165
15 years$4,269$3,654$3,116$2,648$2,244$958
16 years$3,961$3,353$2,825$2,371$1,983$790
17 years$3,689$3,088$2,571$2,130$1,758$653
18 years$3,448$2,853$2,347$1,920$1,563$540
19 years$3,232$2,644$2,148$1,735$1,393$447
20 years$3,038$2,457$1,972$1,571$1,245$371
21 years$2,863$2,289$1,813$1,426$1,114$308
22 years$2,704$2,136$1,671$1,297$998$256
23 years$2,559$1,998$1,543$1,181$896$213
24 years$2,427$1,872$1,427$1,077$806$177
25 years$2,305$1,757$1,322$984$725$147
26 years$2,193$1,651$1,226$899$653$123
27 years$2,089$1,554$1,138$823$589$102
28 years$1,993$1,464$1,058$754$531$85
29 years$1,903$1,381$985$692$480$71
30 years$1,820$1,305$917$635$433$59
31 years$1,742$1,233$855$583$392$49
32 years$1,669$1,167$798$536$354$41
33 years$1,601$1,105$745$493$321$34
34 years$1,537$1,047$696$453$290$29
35 years$1,477$993$651$417$263$24
36 years$1,420$943$609$384$238$20
37 years$1,366$896$570$354$216$17
38 years$1,316$851$534$326$196$14
39 years$1,268$809$500$301$178$12
40 years$1,222$770$469$278$161$10
41 years$1,179$733$439$256$146$8
42 years$1,138$698$412$236$133$7
43 years$1,099$665$387$218$120$6
44 years$1,062$634$363$201$109$5
45 years$1,027$605$341$186$99$4
46 years$993$577$320$172$90$3
47 years$961$550$301$159$82$3
48 years$930$525$283$147$74$2
49 years$901$502$266$136$67$2
50 years$873$479$250$125$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $894,000, adding $6,995 every year, while hoping to spend $48,635 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: 48/22/30 Blend
53$894,000$894,000$894,000$894,000
54$992,403$945,021$931,164$1,031,238
55$1,041,881$939,580$910,611$1,053,896
56$1,094,776$932,242$887,739$1,073,204
57$1,151,384$922,863$862,420$1,093,250
58$1,212,032$911,291$834,518$1,114,130
59$1,277,078$897,362$803,892$1,135,951
60$1,346,912$880,905$770,395$1,158,836
61$1,421,967$861,739$733,873$1,182,923
62$1,502,713$839,670$694,163$1,208,366
63$1,589,670$814,494$651,098$1,235,342
64$1,683,408$785,996$604,501$1,264,047
65$1,784,552$753,946$554,189$1,294,703
66$1,893,790$718,103$499,968$1,327,558
67$2,011,878$678,211$441,638$1,362,890
68$2,139,645$634,000$378,989$1,401,012
69$2,278,006$585,182$311,801$1,442,271
70$2,427,963$531,457$239,847$1,487,060
71$2,590,620$472,503$162,887$1,535,813
72$2,767,190$407,983$80,671$1,589,018
73$2,959,009$337,539$0$1,647,217
74$3,167,545$260,796$0$1,713,279
75$3,394,413$177,353$0$1,813,320
76$3,641,391$86,791$0$1,922,333
77$3,910,434$0$0$2,041,250
78$4,203,694$0$0$2,173,842
79$4,523,540$0$0$2,341,461
80$4,872,580$0$0$2,524,473
81$5,253,682$0$0$2,724,394
82$5,670,006$0$0$2,942,892
83$6,125,028$0$0$3,181,807
84$6,622,579$0$0$3,443,162
85$7,166,873$0$0$3,729,184
86$7,762,551$0$0$4,042,327
87$8,414,726$0$0$4,385,294
88$9,129,025$0$0$4,761,058
89$9,911,646$0$0$5,172,896
90$10,769,416$0$0$5,624,418
91$11,709,851$0$0$6,119,598
92$12,741,233$0$0$6,662,812
93$13,872,681$0$0$7,258,884
94$15,114,239$0$0$7,913,123
95$16,476,972$0$0$8,631,381
96$17,973,068$0$0$9,420,101
97$19,615,953$0$0$10,286,383
98$21,420,415$0$0$11,238,047
99$23,402,747$0$0$12,283,707
100$25,580,896$0$0$13,432,856