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%11%
1 years$76,303$75,623$74,960$74,313$73,681$73,371
2 years$37,774$37,070$36,388$35,727$35,086$34,773
3 years$24,932$24,226$23,546$22,891$22,260$21,953
4 years$18,513$17,809$17,135$16,492$15,876$15,579
5 years$14,662$13,962$13,298$12,667$12,069$11,781
6 years$12,096$11,401$10,747$10,130$9,550$9,272
7 years$10,264$9,575$8,930$8,328$7,766$7,500
8 years$8,890$8,207$7,574$6,987$6,443$6,187
9 years$7,822$7,146$6,523$5,951$5,426$5,180
10 years$6,968$6,299$5,687$5,130$4,623$4,388
11 years$6,270$5,607$5,007$4,464$3,976$3,751
12 years$5,689$5,033$4,443$3,916$3,446$3,230
13 years$5,198$4,548$3,970$3,457$3,005$2,799
14 years$4,777$4,134$3,567$3,069$2,634$2,438
15 years$4,412$3,777$3,221$2,737$2,319$2,133
16 years$4,094$3,465$2,920$2,451$2,050$1,872
17 years$3,813$3,191$2,657$2,202$1,817$1,649
18 years$3,564$2,949$2,425$1,984$1,616$1,456
19 years$3,341$2,733$2,220$1,793$1,440$1,289
20 years$3,140$2,540$2,038$1,624$1,286$1,143
21 years$2,959$2,366$1,874$1,474$1,151$1,015
22 years$2,795$2,208$1,728$1,340$1,032$903
23 years$2,645$2,065$1,595$1,220$926$805
24 years$2,508$1,935$1,475$1,113$833$718
25 years$2,382$1,816$1,366$1,017$749$641
26 years$2,266$1,707$1,267$929$675$573
27 years$2,159$1,606$1,177$851$608$513
28 years$2,059$1,513$1,094$779$549$459
29 years$1,967$1,428$1,018$715$496$411
30 years$1,881$1,348$948$656$448$369
31 years$1,800$1,275$884$602$405$331
32 years$1,725$1,206$825$554$366$297
33 years$1,655$1,142$770$509$332$266
34 years$1,589$1,083$720$468$300$239
35 years$1,526$1,027$673$431$272$215
36 years$1,468$975$629$397$246$193
37 years$1,412$926$589$366$223$173
38 years$1,360$880$552$337$202$156
39 years$1,310$836$517$311$184$140
40 years$1,263$796$484$287$166$126
41 years$1,219$758$454$265$151$113
42 years$1,176$721$426$244$137$102
43 years$1,136$687$400$225$124$92
44 years$1,098$655$375$208$113$83
45 years$1,061$625$352$192$102$74
46 years$1,027$596$331$178$93$67
47 years$993$569$311$164$84$60
48 years$962$543$292$152$77$54
49 years$931$519$275$140$70$49
50 years$902$495$258$130$63$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $924,000, adding $4,375 every year, while hoping to spend $46,310 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: 65/10/25 Blend
53$924,000$924,000$924,000$924,000
54$1,022,761$973,789$959,467$1,082,297
55$1,077,809$972,231$942,335$1,121,418
56$1,136,920$969,045$923,078$1,158,573
57$1,200,459$964,101$901,575$1,198,139
58$1,268,828$957,264$877,699$1,240,357
59$1,342,467$948,389$851,321$1,285,494
60$1,421,860$937,321$822,301$1,333,844
61$1,507,538$923,899$790,497$1,385,734
62$1,600,087$907,949$755,758$1,441,527
63$1,700,146$889,290$717,927$1,501,621
64$1,808,423$867,726$676,840$1,566,460
65$1,925,692$843,055$632,324$1,636,533
66$2,052,806$815,058$584,200$1,712,382
67$2,190,702$783,506$532,281$1,794,607
68$2,340,412$748,156$476,370$1,883,869
69$2,503,070$708,751$416,264$1,980,902
70$2,679,922$665,019$351,748$2,086,515
71$2,872,342$616,673$282,600$2,201,605
72$3,081,840$563,409$208,585$2,327,160
73$3,310,076$504,905$129,462$2,464,274
74$3,558,880$440,821$44,975$2,614,157
75$3,830,265$370,800$0$2,778,143
76$4,126,444$294,461$0$2,969,763
77$4,449,857$211,405$0$3,192,178
78$4,803,186$121,209$0$3,435,258
79$5,189,389$23,425$0$3,701,071
80$5,611,716$0$0$3,991,897
81$6,073,751$0$0$4,319,318
82$6,579,436$0$0$4,680,555
83$7,133,116$0$0$5,076,138
84$7,739,573$0$0$5,509,494
85$8,404,072$0$0$5,984,393
86$9,132,416$0$0$6,504,988
87$9,930,990$0$0$7,075,856
88$10,806,832$0$0$7,702,033
89$11,767,691$0$0$8,389,071
90$12,822,101$0$0$9,143,081
91$13,979,467$0$0$9,970,798
92$15,250,142$0$0$10,879,638
93$16,645,537$0$0$11,877,773
94$18,178,219$0$0$12,974,202
95$19,862,032$0$0$14,178,840
96$21,712,226$0$0$15,502,613
97$23,745,606$0$0$16,957,552
98$25,980,680$0$0$18,556,915
99$28,437,841$0$0$20,315,309
100$31,139,558$0$0$22,248,825