Can I retire at age 54 with 924,000?

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 $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%13.4%
1 years$76,303$75,623$74,960$74,313$73,681$72,640
2 years$37,774$37,070$36,388$35,727$35,086$34,039
3 years$24,932$24,226$23,546$22,891$22,260$21,240
4 years$18,513$17,809$17,135$16,492$15,876$14,891
5 years$14,662$13,962$13,298$12,667$12,069$11,121
6 years$12,096$11,401$10,747$10,130$9,550$8,640
7 years$10,264$9,575$8,930$8,328$7,766$6,896
8 years$8,890$8,207$7,574$6,987$6,443$5,611
9 years$7,822$7,146$6,523$5,951$5,426$4,633
10 years$6,968$6,299$5,687$5,130$4,623$3,868
11 years$6,270$5,607$5,007$4,464$3,976$3,258
12 years$5,689$5,033$4,443$3,916$3,446$2,763
13 years$5,198$4,548$3,970$3,457$3,005$2,358
14 years$4,777$4,134$3,567$3,069$2,634$2,021
15 years$4,412$3,777$3,221$2,737$2,319$1,740
16 years$4,094$3,465$2,920$2,451$2,050$1,502
17 years$3,813$3,191$2,657$2,202$1,817$1,301
18 years$3,564$2,949$2,425$1,984$1,616$1,130
19 years$3,341$2,733$2,220$1,793$1,440$983
20 years$3,140$2,540$2,038$1,624$1,286$856
21 years$2,959$2,366$1,874$1,474$1,151$747
22 years$2,795$2,208$1,728$1,340$1,032$653
23 years$2,645$2,065$1,595$1,220$926$571
24 years$2,508$1,935$1,475$1,113$833$500
25 years$2,382$1,816$1,366$1,017$749$439
26 years$2,266$1,707$1,267$929$675$385
27 years$2,159$1,606$1,177$851$608$338
28 years$2,059$1,513$1,094$779$549$297
29 years$1,967$1,428$1,018$715$496$261
30 years$1,881$1,348$948$656$448$229
31 years$1,800$1,275$884$602$405$201
32 years$1,725$1,206$825$554$366$177
33 years$1,655$1,142$770$509$332$156
34 years$1,589$1,083$720$468$300$137
35 years$1,526$1,027$673$431$272$121
36 years$1,468$975$629$397$246$106
37 years$1,412$926$589$366$223$94
38 years$1,360$880$552$337$202$83
39 years$1,310$836$517$311$184$73
40 years$1,263$796$484$287$166$64
41 years$1,219$758$454$265$151$56
42 years$1,176$721$426$244$137$50
43 years$1,136$687$400$225$124$44
44 years$1,098$655$375$208$113$39
45 years$1,061$625$352$192$102$34
46 years$1,027$596$331$178$93$30
47 years$993$569$311$164$84$26
48 years$962$543$292$152$77$23
49 years$931$519$275$140$70$21
50 years$902$495$258$130$63$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $924,000, adding $2,363 every year, while hoping to spend $53,396 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: 30/41/29 Blend
53$924,000$924,000$924,000$924,000
54$1,020,685$971,713$957,391$1,042,160
55$1,067,982$962,514$932,651$1,050,004
56$1,118,314$951,075$905,292$1,053,632
57$1,171,934$937,229$875,171$1,056,488
58$1,229,118$920,801$842,137$1,058,541
59$1,290,171$901,603$806,032$1,059,766
60$1,355,426$879,439$766,691$1,060,138
61$1,425,247$854,099$723,943$1,059,636
62$1,500,034$825,362$677,606$1,058,244
63$1,580,226$792,993$627,495$1,055,949
64$1,666,304$756,744$573,410$1,052,745
65$1,758,796$716,354$515,149$1,048,632
66$1,858,282$671,544$452,495$1,043,619
67$1,965,398$622,021$385,225$1,037,722
68$2,080,843$567,475$313,105$1,030,970
69$2,205,386$507,578$235,890$1,023,402
70$2,339,869$441,983$153,326$1,015,072
71$2,485,220$370,324$65,147$1,006,049
72$2,642,457$292,215$0$996,420
73$2,812,701$207,246$0$995,253
74$2,997,181$114,986$0$1,015,814
75$3,197,253$14,980$0$1,038,174
76$3,414,404$0$0$1,062,617
77$3,650,272$0$0$1,131,539
78$3,906,659$0$0$1,213,930
79$4,185,544$0$0$1,303,685
80$4,489,108$0$0$1,401,521
81$4,819,751$0$0$1,508,230
82$5,180,110$0$0$1,624,682
83$5,573,091$0$0$1,751,834
84$6,001,892$0$0$1,890,741
85$6,470,032$0$0$2,042,563
86$6,981,384$0$0$2,208,578
87$7,540,213$0$0$2,390,194
88$8,151,214$0$0$2,588,959
89$8,819,558$0$0$2,806,580
90$9,550,936$0$0$3,044,935
91$10,351,615$0$0$3,306,092
92$11,228,498$0$0$3,592,331
93$12,189,185$0$0$3,906,160
94$13,242,047$0$0$4,250,343
95$14,396,302$0$0$4,627,925
96$15,662,103$0$0$5,042,256
97$17,050,634$0$0$5,497,032
98$18,574,210$0$0$5,996,320
99$20,246,401$0$0$6,544,600
100$22,082,150$0$0$7,146,809