Can I retire at age 54 with 924,000?

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 $924,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$76,303$75,623$74,960$74,313$73,681$72,312
2 years$37,774$37,070$36,388$35,727$35,086$33,712
3 years$24,932$24,226$23,546$22,891$22,260$20,923
4 years$18,513$17,809$17,135$16,492$15,876$14,587
5 years$14,662$13,962$13,298$12,667$12,069$10,832
6 years$12,096$11,401$10,747$10,130$9,550$8,366
7 years$10,264$9,575$8,930$8,328$7,766$6,636
8 years$8,890$8,207$7,574$6,987$6,443$5,365
9 years$7,822$7,146$6,523$5,951$5,426$4,401
10 years$6,968$6,299$5,687$5,130$4,623$3,649
11 years$6,270$5,607$5,007$4,464$3,976$3,053
12 years$5,689$5,033$4,443$3,916$3,446$2,571
13 years$5,198$4,548$3,970$3,457$3,005$2,178
14 years$4,777$4,134$3,567$3,069$2,634$1,854
15 years$4,412$3,777$3,221$2,737$2,319$1,583
16 years$4,094$3,465$2,920$2,451$2,050$1,357
17 years$3,813$3,191$2,657$2,202$1,817$1,166
18 years$3,564$2,949$2,425$1,984$1,616$1,004
19 years$3,341$2,733$2,220$1,793$1,440$866
20 years$3,140$2,540$2,038$1,624$1,286$749
21 years$2,959$2,366$1,874$1,474$1,151$648
22 years$2,795$2,208$1,728$1,340$1,032$562
23 years$2,645$2,065$1,595$1,220$926$487
24 years$2,508$1,935$1,475$1,113$833$423
25 years$2,382$1,816$1,366$1,017$749$368
26 years$2,266$1,707$1,267$929$675$320
27 years$2,159$1,606$1,177$851$608$278
28 years$2,059$1,513$1,094$779$549$242
29 years$1,967$1,428$1,018$715$496$211
30 years$1,881$1,348$948$656$448$184
31 years$1,800$1,275$884$602$405$160
32 years$1,725$1,206$825$554$366$139
33 years$1,655$1,142$770$509$332$122
34 years$1,589$1,083$720$468$300$106
35 years$1,526$1,027$673$431$272$93
36 years$1,468$975$629$397$246$81
37 years$1,412$926$589$366$223$70
38 years$1,360$880$552$337$202$61
39 years$1,310$836$517$311$184$54
40 years$1,263$796$484$287$166$47
41 years$1,219$758$454$265$151$41
42 years$1,176$721$426$244$137$36
43 years$1,136$687$400$225$124$31
44 years$1,098$655$375$208$113$27
45 years$1,061$625$352$192$102$24
46 years$1,027$596$331$178$93$21
47 years$993$569$311$164$84$18
48 years$962$543$292$152$77$16
49 years$931$519$275$140$70$14
50 years$902$495$258$130$63$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $924,000, adding $5,364 every year, while hoping to spend $25,504 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: 62/8/30 Blend
53$924,000$924,000$924,000$924,000
54$1,023,781$974,809$960,487$1,078,666
55$1,101,071$995,439$965,527$1,137,290
56$1,185,389$1,016,224$969,882$1,198,060
57$1,277,426$1,037,147$973,500$1,263,889
58$1,377,941$1,058,185$976,330$1,335,278
59$1,487,771$1,079,316$978,317$1,412,780
60$1,607,836$1,100,514$979,403$1,497,004
61$1,739,149$1,121,753$979,527$1,588,620
62$1,882,827$1,143,004$978,625$1,688,370
63$2,040,098$1,164,233$976,632$1,797,069
64$2,212,314$1,185,407$973,476$1,915,617
65$2,400,967$1,206,489$969,084$2,045,007
66$2,607,697$1,227,438$963,379$2,186,332
67$2,834,311$1,248,212$956,281$2,340,800
68$3,082,800$1,268,763$947,706$2,509,738
69$3,355,355$1,289,042$937,563$2,694,615
70$3,654,391$1,308,995$925,761$2,897,045
71$3,982,567$1,328,564$912,203$3,118,812
72$4,342,814$1,347,689$896,787$3,361,881
73$4,738,358$1,366,302$879,406$3,628,417
74$5,172,753$1,384,333$859,949$3,920,809
75$5,649,915$1,401,708$838,299$4,241,690
76$6,174,159$1,418,344$814,334$4,593,963
77$6,750,236$1,434,155$787,927$4,980,828
78$7,383,382$1,449,051$758,945$5,405,813
79$8,079,365$1,462,932$727,247$5,872,808
80$8,844,538$1,475,693$692,687$6,386,099
81$9,685,903$1,487,224$655,114$6,950,415
82$10,611,172$1,497,406$614,368$7,570,965
83$11,628,844$1,506,111$570,282$8,253,493
84$12,748,282$1,513,206$522,682$9,004,332
85$13,979,801$1,518,548$471,386$9,830,462
86$15,334,768$1,521,984$416,205$10,739,576
87$16,825,706$1,523,352$356,939$11,740,156
88$18,466,413$1,522,482$293,382$12,841,552
89$20,272,094$1,519,190$225,317$14,054,069
90$22,259,500$1,513,283$152,518$15,389,067
91$24,447,091$1,504,556$74,749$16,859,068
92$26,855,206$1,492,791$0$18,477,873
93$29,506,255$1,477,756$0$20,263,335
94$32,424,934$1,459,207$0$22,255,290
95$35,638,453$1,436,883$0$24,448,354
96$39,176,795$1,410,511$0$26,862,990
97$43,073,000$1,379,797$0$29,521,745
98$47,363,473$1,344,434$0$32,449,468
99$52,088,330$1,304,095$0$35,673,539
100$57,291,778$1,258,433$0$39,224,131