Can I retire at age 54 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$75,642$74,969$74,311$73,670$73,043$72,100
2 years$37,447$36,749$36,073$35,418$34,782$33,834
3 years$24,717$24,016$23,342$22,693$22,067$21,143
4 years$18,353$17,654$16,987$16,349$15,739$14,845
5 years$14,535$13,841$13,183$12,557$11,964$11,104
6 years$11,991$11,302$10,653$10,042$9,467$8,641
7 years$10,175$9,492$8,853$8,256$7,699$6,908
8 years$8,813$8,136$7,508$6,926$6,387$5,631
9 years$7,755$7,084$6,467$5,899$5,379$4,657
10 years$6,908$6,244$5,638$5,085$4,583$3,895
11 years$6,216$5,559$4,963$4,426$3,942$3,287
12 years$5,640$4,989$4,405$3,882$3,416$2,794
13 years$5,153$4,509$3,936$3,427$2,979$2,388
14 years$4,735$4,098$3,536$3,042$2,611$2,052
15 years$4,374$3,744$3,193$2,713$2,299$1,769
16 years$4,058$3,435$2,895$2,429$2,032$1,531
17 years$3,780$3,164$2,634$2,183$1,802$1,329
18 years$3,533$2,923$2,404$1,967$1,602$1,156
19 years$3,312$2,709$2,201$1,777$1,428$1,008
20 years$3,113$2,518$2,020$1,610$1,275$880
21 years$2,934$2,345$1,858$1,461$1,141$770
22 years$2,771$2,189$1,713$1,328$1,023$675
23 years$2,622$2,047$1,581$1,210$918$591
24 years$2,486$1,918$1,462$1,103$825$519
25 years$2,362$1,800$1,354$1,008$743$456
26 years$2,247$1,692$1,256$921$669$401
27 years$2,140$1,592$1,166$843$603$353
28 years$2,042$1,500$1,084$773$544$311
29 years$1,950$1,415$1,009$709$491$274
30 years$1,865$1,337$940$650$444$241
31 years$1,785$1,264$876$597$401$213
32 years$1,710$1,196$818$549$363$187
33 years$1,640$1,132$763$505$329$165
34 years$1,575$1,073$713$464$298$146
35 years$1,513$1,018$667$428$270$129
36 years$1,455$966$624$394$244$114
37 years$1,400$918$584$363$221$100
38 years$1,348$872$547$334$201$89
39 years$1,299$829$512$308$182$78
40 years$1,252$789$480$284$165$69
41 years$1,208$751$450$262$150$61
42 years$1,166$715$422$242$136$54
43 years$1,126$681$396$224$123$48
44 years$1,088$650$372$206$112$42
45 years$1,052$619$349$191$102$37
46 years$1,018$591$328$176$92$33
47 years$985$564$308$163$84$29
48 years$953$538$290$150$76$26
49 years$923$514$272$139$69$23
50 years$894$491$256$128$63$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $916,000, adding $2,636 every year, while hoping to spend $24,964 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: 72/7/21 Blend
53$916,000$916,000$916,000$916,000
54$1,012,151$963,603$949,405$1,079,664
55$1,088,829$984,258$954,649$1,145,615
56$1,172,491$1,005,089$959,231$1,214,591
57$1,263,824$1,026,077$963,104$1,289,512
58$1,363,583$1,047,203$966,217$1,370,966
59$1,472,598$1,068,446$968,515$1,459,599
60$1,591,787$1,089,783$969,944$1,556,124
61$1,722,155$1,111,188$970,443$1,661,326
62$1,864,813$1,132,635$969,951$1,776,069
63$2,020,982$1,154,093$968,403$1,901,307
64$2,192,009$1,175,530$965,731$2,038,090
65$2,379,374$1,196,911$961,863$2,187,577
66$2,584,710$1,218,199$956,725$2,351,042
67$2,809,813$1,239,353$950,237$2,529,892
68$3,056,662$1,260,330$942,319$2,725,676
69$3,327,438$1,281,083$932,883$2,940,101
70$3,624,542$1,301,560$921,839$3,175,050
71$3,950,617$1,321,709$909,094$3,432,597
72$4,308,579$1,341,471$894,546$3,715,027
73$4,701,634$1,360,784$878,094$4,024,859
74$5,133,320$1,379,581$859,629$4,364,871
75$5,607,528$1,397,791$839,037$4,738,121
76$6,128,551$1,415,337$816,199$5,147,984
77$6,701,112$1,432,138$790,991$5,598,175
78$7,330,420$1,448,107$763,284$6,092,791
79$8,022,210$1,463,151$732,941$6,636,347
80$8,782,801$1,477,171$699,820$7,233,819
81$9,619,155$1,490,061$663,772$7,890,691
82$10,538,944$1,501,709$624,644$8,613,009
83$11,550,618$1,511,995$582,271$9,407,432
84$12,663,489$1,520,790$536,485$10,281,305
85$13,887,816$1,527,960$487,109$11,242,718
86$15,234,903$1,533,360$433,956$12,300,589
87$16,717,205$1,536,836$376,835$13,464,748
88$18,348,444$1,538,225$315,544$14,746,027
89$20,143,741$1,537,354$249,870$16,156,366
90$22,119,757$1,534,039$179,595$17,708,921
91$24,294,849$1,528,084$104,488$19,418,196
92$26,689,245$1,519,281$24,310$21,300,172
93$29,325,233$1,507,411$0$23,372,464
94$32,227,374$1,492,241$0$25,668,210
95$35,422,728$1,473,523$0$28,201,784
96$38,941,115$1,450,995$0$30,991,374
97$42,815,394$1,424,379$0$34,063,030
98$47,081,772$1,393,381$0$37,445,458
99$51,780,145$1,357,689$0$41,170,292
100$56,954,477$1,316,973$0$45,272,388