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%15%
1 years$76,303$75,623$74,960$74,313$73,681$72,164
2 years$37,774$37,070$36,388$35,727$35,086$33,565
3 years$24,932$24,226$23,546$22,891$22,260$20,782
4 years$18,513$17,809$17,135$16,492$15,876$14,452
5 years$14,662$13,962$13,298$12,667$12,069$10,703
6 years$12,096$11,401$10,747$10,130$9,550$8,244
7 years$10,264$9,575$8,930$8,328$7,766$6,521
8 years$8,890$8,207$7,574$6,987$6,443$5,257
9 years$7,822$7,146$6,523$5,951$5,426$4,299
10 years$6,968$6,299$5,687$5,130$4,623$3,554
11 years$6,270$5,607$5,007$4,464$3,976$2,964
12 years$5,689$5,033$4,443$3,916$3,446$2,488
13 years$5,198$4,548$3,970$3,457$3,005$2,101
14 years$4,777$4,134$3,567$3,069$2,634$1,782
15 years$4,412$3,777$3,221$2,737$2,319$1,517
16 years$4,094$3,465$2,920$2,451$2,050$1,295
17 years$3,813$3,191$2,657$2,202$1,817$1,109
18 years$3,564$2,949$2,425$1,984$1,616$952
19 years$3,341$2,733$2,220$1,793$1,440$818
20 years$3,140$2,540$2,038$1,624$1,286$704
21 years$2,959$2,366$1,874$1,474$1,151$607
22 years$2,795$2,208$1,728$1,340$1,032$524
23 years$2,645$2,065$1,595$1,220$926$453
24 years$2,508$1,935$1,475$1,113$833$392
25 years$2,382$1,816$1,366$1,017$749$339
26 years$2,266$1,707$1,267$929$675$294
27 years$2,159$1,606$1,177$851$608$254
28 years$2,059$1,513$1,094$779$549$221
29 years$1,967$1,428$1,018$715$496$191
30 years$1,881$1,348$948$656$448$166
31 years$1,800$1,275$884$602$405$144
32 years$1,725$1,206$825$554$366$125
33 years$1,655$1,142$770$509$332$109
34 years$1,589$1,083$720$468$300$94
35 years$1,526$1,027$673$431$272$82
36 years$1,468$975$629$397$246$71
37 years$1,412$926$589$366$223$62
38 years$1,360$880$552$337$202$54
39 years$1,310$836$517$311$184$47
40 years$1,263$796$484$287$166$41
41 years$1,219$758$454$265$151$35
42 years$1,176$721$426$244$137$31
43 years$1,136$687$400$225$124$27
44 years$1,098$655$375$208$113$23
45 years$1,061$625$352$192$102$20
46 years$1,027$596$331$178$93$17
47 years$993$569$311$164$84$15
48 years$962$543$292$152$77$13
49 years$931$519$275$140$70$11
50 years$902$495$258$130$63$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $924,000, adding $3,275 every year, while hoping to spend $39,977 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: 40/35/25 Blend
53$924,000$924,000$924,000$924,000
54$1,021,626$972,654$958,332$1,054,828
55$1,083,297$977,779$947,901$1,084,244
56$1,149,918$981,815$935,781$1,112,050
57$1,221,953$984,667$921,872$1,141,348
58$1,299,909$986,233$906,072$1,172,298
59$1,384,346$986,405$888,272$1,205,080
60$1,475,880$985,069$868,359$1,239,892
61$1,575,185$982,102$846,215$1,276,959
62$1,683,005$977,377$821,714$1,316,528
63$1,800,158$970,755$794,728$1,358,876
64$1,927,544$962,092$765,121$1,404,311
65$2,066,152$951,232$732,751$1,453,176
66$2,217,070$938,014$697,470$1,505,853
67$2,381,498$922,263$659,121$1,562,767
68$2,560,753$903,797$617,545$1,624,389
69$2,756,288$882,420$572,570$1,691,245
70$2,969,698$857,928$524,020$1,763,917
71$3,202,743$830,102$471,710$1,843,053
72$3,457,357$798,712$415,447$1,929,371
73$3,735,672$763,513$355,029$2,023,669
74$4,040,034$724,249$290,246$2,126,833
75$4,373,026$680,645$220,877$2,239,843
76$4,737,491$632,413$146,693$2,363,789
77$5,136,561$579,247$67,454$2,499,877
78$5,573,686$520,826$0$2,649,444
79$6,052,664$456,808$0$2,818,535
80$6,577,676$386,833$0$3,023,728
81$7,153,331$310,519$0$3,248,899
82$7,784,701$227,465$0$3,496,138
83$8,477,376$137,246$0$3,767,750
84$9,237,511$39,414$0$4,066,285
85$10,071,886$0$0$4,394,556
86$10,987,969$0$0$4,781,287
87$11,993,989$0$0$5,222,780
88$13,099,008$0$0$5,707,852
89$14,313,011$0$0$6,240,899
90$15,646,995$0$0$6,826,769
91$17,113,079$0$0$7,470,800
92$18,724,612$0$0$8,178,875
93$20,496,300$0$0$8,957,475
94$22,444,345$0$0$9,813,738
95$24,586,601$0$0$10,755,533
96$26,942,733$0$0$11,791,526
97$29,534,413$0$0$12,931,266
98$32,385,515$0$0$14,185,275
99$35,522,345$0$0$15,565,147
100$38,973,887$0$0$17,083,654