Can I retire at age 54 with 894,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%11.5%
1 years$73,826$73,168$72,527$71,900$71,289$70,840
2 years$36,547$35,867$35,207$34,567$33,947$33,494
3 years$24,123$23,439$22,781$22,148$21,537$21,094
4 years$17,912$17,230$16,579$15,956$15,361$14,931
5 years$14,186$13,509$12,866$12,256$11,677$11,262
6 years$11,703$11,031$10,398$9,801$9,240$8,840
7 years$9,930$9,264$8,640$8,058$7,514$7,130
8 years$8,601$7,941$7,328$6,760$6,234$5,865
9 years$7,568$6,914$6,311$5,758$5,250$4,897
10 years$6,742$6,094$5,502$4,963$4,473$4,135
11 years$6,067$5,425$4,844$4,320$3,847$3,524
12 years$5,504$4,869$4,299$3,789$3,334$3,026
13 years$5,029$4,401$3,841$3,345$2,907$2,614
14 years$4,622$4,000$3,451$2,969$2,548$2,269
15 years$4,269$3,654$3,116$2,648$2,244$1,978
16 years$3,961$3,353$2,825$2,371$1,983$1,731
17 years$3,689$3,088$2,571$2,130$1,758$1,519
18 years$3,448$2,853$2,347$1,920$1,563$1,337
19 years$3,232$2,644$2,148$1,735$1,393$1,179
20 years$3,038$2,457$1,972$1,571$1,245$1,042
21 years$2,863$2,289$1,813$1,426$1,114$922
22 years$2,704$2,136$1,671$1,297$998$817
23 years$2,559$1,998$1,543$1,181$896$726
24 years$2,427$1,872$1,427$1,077$806$645
25 years$2,305$1,757$1,322$984$725$574
26 years$2,193$1,651$1,226$899$653$511
27 years$2,089$1,554$1,138$823$589$455
28 years$1,993$1,464$1,058$754$531$406
29 years$1,903$1,381$985$692$480$362
30 years$1,820$1,305$917$635$433$323
31 years$1,742$1,233$855$583$392$289
32 years$1,669$1,167$798$536$354$258
33 years$1,601$1,105$745$493$321$231
34 years$1,537$1,047$696$453$290$206
35 years$1,477$993$651$417$263$185
36 years$1,420$943$609$384$238$165
37 years$1,366$896$570$354$216$148
38 years$1,316$851$534$326$196$132
39 years$1,268$809$500$301$178$118
40 years$1,222$770$469$278$161$106
41 years$1,179$733$439$256$146$95
42 years$1,138$698$412$236$133$85
43 years$1,099$665$387$218$120$76
44 years$1,062$634$363$201$109$68
45 years$1,027$605$341$186$99$61
46 years$993$577$320$172$90$55
47 years$961$550$301$159$82$49
48 years$930$525$283$147$74$44
49 years$901$502$266$136$67$40
50 years$873$479$250$125$61$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $894,000, adding $4,262 every year, while hoping to spend $53,922 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: 39/39/22 Blend
53$894,000$894,000$894,000$894,000
54$989,584$942,202$928,345$1,021,554
55$1,033,149$930,998$902,072$1,033,813
56$1,079,351$917,437$873,112$1,041,657
57$1,128,400$901,347$841,317$1,049,049
58$1,180,530$882,546$806,534$1,055,981
59$1,235,994$860,841$768,603$1,062,445
60$1,295,069$836,026$727,355$1,068,439
61$1,358,060$807,884$682,615$1,073,965
62$1,425,298$776,187$634,199$1,079,032
63$1,497,150$740,691$581,915$1,083,651
64$1,574,014$701,140$525,564$1,087,846
65$1,656,329$657,262$464,937$1,091,646
66$1,744,576$608,769$399,813$1,095,090
67$1,839,282$555,358$329,966$1,098,229
68$1,941,026$496,708$255,158$1,101,127
69$2,050,444$432,479$175,138$1,103,861
70$2,168,232$362,313$89,648$1,106,525
71$2,295,156$285,832$0$1,109,233
72$2,432,059$202,634$0$1,112,489
73$2,579,864$112,298$0$1,138,562
74$2,739,586$14,377$0$1,166,638
75$2,912,342$0$0$1,197,004
76$3,099,359$0$0$1,269,295
77$3,301,986$0$0$1,354,403
78$3,521,704$0$0$1,446,795
79$3,760,146$0$0$1,547,169
80$4,019,105$0$0$1,656,295
81$4,300,553$0$0$1,775,018
82$4,606,662$0$0$1,904,269
83$4,939,818$0$0$2,045,072
84$5,302,649$0$0$2,198,554
85$5,698,046$0$0$2,365,955
86$6,129,192$0$0$2,548,640
87$6,599,588$0$0$2,748,111
88$7,113,088$0$0$2,966,023
89$7,673,937$0$0$3,204,197
90$8,286,804$0$0$3,464,637
91$8,956,833$0$0$3,749,551
92$9,689,685$0$0$4,061,368
93$10,491,594$0$0$4,402,767
94$11,369,426$0$0$4,776,692
95$12,330,738$0$0$5,186,391
96$13,383,856$0$0$5,635,437
97$14,537,946$0$0$6,127,766
98$15,803,105$0$0$6,667,715
99$17,190,452$0$0$7,260,059
100$18,712,235$0$0$7,910,057