Can I retire at age 54 with 916,000?

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 $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%13.3%
1 years$75,642$74,969$74,311$73,670$73,043$72,041
2 years$37,447$36,749$36,073$35,418$34,782$33,774
3 years$24,717$24,016$23,342$22,693$22,067$21,085
4 years$18,353$17,654$16,987$16,349$15,739$14,789
5 years$14,535$13,841$13,183$12,557$11,964$11,051
6 years$11,991$11,302$10,653$10,042$9,467$8,591
7 years$10,175$9,492$8,853$8,256$7,699$6,860
8 years$8,813$8,136$7,508$6,926$6,387$5,585
9 years$7,755$7,084$6,467$5,899$5,379$4,614
10 years$6,908$6,244$5,638$5,085$4,583$3,855
11 years$6,216$5,559$4,963$4,426$3,942$3,249
12 years$5,640$4,989$4,405$3,882$3,416$2,758
13 years$5,153$4,509$3,936$3,427$2,979$2,354
14 years$4,735$4,098$3,536$3,042$2,611$2,020
15 years$4,374$3,744$3,193$2,713$2,299$1,740
16 years$4,058$3,435$2,895$2,429$2,032$1,503
17 years$3,780$3,164$2,634$2,183$1,802$1,303
18 years$3,533$2,923$2,404$1,967$1,602$1,132
19 years$3,312$2,709$2,201$1,777$1,428$985
20 years$3,113$2,518$2,020$1,610$1,275$859
21 years$2,934$2,345$1,858$1,461$1,141$751
22 years$2,771$2,189$1,713$1,328$1,023$656
23 years$2,622$2,047$1,581$1,210$918$575
24 years$2,486$1,918$1,462$1,103$825$504
25 years$2,362$1,800$1,354$1,008$743$442
26 years$2,247$1,692$1,256$921$669$388
27 years$2,140$1,592$1,166$843$603$341
28 years$2,042$1,500$1,084$773$544$299
29 years$1,950$1,415$1,009$709$491$263
30 years$1,865$1,337$940$650$444$232
31 years$1,785$1,264$876$597$401$204
32 years$1,710$1,196$818$549$363$180
33 years$1,640$1,132$763$505$329$158
34 years$1,575$1,073$713$464$298$139
35 years$1,513$1,018$667$428$270$123
36 years$1,455$966$624$394$244$108
37 years$1,400$918$584$363$221$95
38 years$1,348$872$547$334$201$84
39 years$1,299$829$512$308$182$74
40 years$1,252$789$480$284$165$65
41 years$1,208$751$450$262$150$58
42 years$1,166$715$422$242$136$51
43 years$1,126$681$396$224$123$45
44 years$1,088$650$372$206$112$40
45 years$1,052$619$349$191$102$35
46 years$1,018$591$328$176$92$31
47 years$985$564$308$163$84$27
48 years$953$538$290$150$76$24
49 years$923$514$272$139$69$21
50 years$894$491$256$128$63$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $916,000, adding $4,402 every year, while hoping to spend $54,051 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: 61/28/11 Blend
53$916,000$916,000$916,000$916,000
54$1,013,973$965,425$951,227$1,072,956
55$1,059,888$955,221$925,583$1,102,849
56$1,108,675$942,705$897,269$1,128,894
57$1,160,570$927,708$866,137$1,155,984
58$1,215,831$910,048$832,035$1,184,221
59$1,274,740$889,534$794,803$1,213,721
60$1,337,607$865,965$754,272$1,244,614
61$1,404,770$839,125$710,268$1,277,045
62$1,476,603$808,788$662,608$1,311,178
63$1,553,512$774,714$611,100$1,347,192
64$1,635,943$736,649$555,546$1,385,293
65$1,724,388$694,323$495,735$1,425,707
66$1,819,384$647,453$431,451$1,468,687
67$1,921,522$595,739$362,464$1,514,516
68$2,031,449$538,862$288,539$1,563,511
69$2,149,877$476,487$209,426$1,616,022
70$2,277,589$408,259$124,866$1,672,442
71$2,415,442$333,803$34,588$1,733,207
72$2,564,382$252,723$0$1,798,804
73$2,725,443$164,602$0$1,877,021
74$2,899,768$68,996$0$1,966,016
75$3,088,607$0$0$2,062,430
76$3,293,340$0$0$2,177,693
77$3,515,481$0$0$2,325,882
78$3,756,696$0$0$2,486,856
79$4,018,818$0$0$2,661,848
80$4,303,863$0$0$2,852,211
81$4,614,049$0$0$3,059,436
82$4,951,817$0$0$3,285,160
83$5,319,852$0$0$3,531,188
84$5,721,109$0$0$3,799,506
85$6,158,841$0$0$4,092,299
86$6,636,629$0$0$4,411,972
87$7,158,413$0$0$4,761,173
88$7,728,532$0$0$5,142,816
89$8,351,762$0$0$5,560,111
90$9,033,361$0$0$6,016,591
91$9,779,119$0$0$6,516,147
92$10,595,412$0$0$7,063,061
93$11,489,259$0$0$7,662,053
94$12,468,393$0$0$8,318,316
95$13,541,325$0$0$9,037,573
96$14,717,433$0$0$9,826,123
97$16,007,043$0$0$10,690,907
98$17,421,529$0$0$11,639,568
99$18,973,419$0$0$12,680,526
100$20,676,510$0$0$13,823,054