Can I retire at age 54 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$77,459$76,769$76,096$75,439$74,797$72,490
2 years$38,346$37,632$36,940$36,269$35,618$33,314
3 years$25,310$24,593$23,903$23,238$22,597$20,368
4 years$18,793$18,078$17,395$16,741$16,117$13,980
5 years$14,884$14,174$13,499$12,859$12,252$10,213
6 years$12,279$11,574$10,909$10,283$9,694$7,755
7 years$10,419$9,720$9,066$8,455$7,884$6,045
8 years$9,025$8,332$7,688$7,092$6,541$4,800
9 years$7,941$7,254$6,622$6,041$5,508$3,864
10 years$7,074$6,394$5,773$5,208$4,693$3,143
11 years$6,365$5,692$5,083$4,532$4,036$2,578
12 years$5,775$5,109$4,511$3,975$3,498$2,128
13 years$5,276$4,617$4,030$3,510$3,050$1,765
14 years$4,849$4,197$3,621$3,115$2,674$1,471
15 years$4,479$3,834$3,269$2,778$2,354$1,229
16 years$4,156$3,518$2,964$2,488$2,081$1,030
17 years$3,871$3,240$2,697$2,235$1,845$866
18 years$3,618$2,993$2,462$2,014$1,640$729
19 years$3,391$2,774$2,254$1,820$1,462$614
20 years$3,188$2,578$2,069$1,649$1,306$519
21 years$3,004$2,401$1,903$1,496$1,169$438
22 years$2,837$2,242$1,754$1,360$1,048$371
23 years$2,685$2,096$1,619$1,239$940$314
24 years$2,546$1,964$1,497$1,130$845$266
25 years$2,418$1,843$1,387$1,032$761$226
26 years$2,300$1,732$1,286$944$685$191
27 years$2,192$1,630$1,194$864$618$162
28 years$2,091$1,536$1,110$791$557$138
29 years$1,997$1,449$1,033$726$503$117
30 years$1,909$1,369$963$666$455$99
31 years$1,828$1,294$897$612$411$84
32 years$1,751$1,224$837$562$372$72
33 years$1,680$1,159$782$517$337$61
34 years$1,613$1,099$730$476$305$52
35 years$1,549$1,042$683$438$276$44
36 years$1,490$989$639$403$250$37
37 years$1,434$940$598$371$227$32
38 years$1,380$893$560$342$205$27
39 years$1,330$849$525$316$186$23
40 years$1,282$808$492$291$169$20
41 years$1,237$769$461$269$153$17
42 years$1,194$732$432$248$139$14
43 years$1,153$698$406$229$126$12
44 years$1,114$665$381$211$115$10
45 years$1,077$634$358$195$104$9
46 years$1,042$605$336$180$94$7
47 years$1,008$577$316$167$86$6
48 years$976$551$297$154$78$5
49 years$945$526$279$142$71$5
50 years$916$503$262$131$64$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $938,000, adding $5,103 every year, while hoping to spend $39,510 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: 62/19/19 Blend
53$938,000$938,000$938,000$938,000
54$1,038,940$989,226$974,687$1,097,987
55$1,102,873$995,659$965,300$1,144,841
56$1,172,004$1,001,084$954,275$1,191,094
57$1,246,820$1,005,409$941,515$1,240,676
58$1,327,858$1,008,537$926,919$1,293,912
59$1,415,709$1,010,364$910,380$1,351,167
60$1,511,021$1,010,782$891,787$1,412,839
61$1,614,509$1,009,674$871,026$1,479,370
62$1,726,958$1,006,917$847,974$1,551,250
63$1,849,231$1,002,380$822,505$1,629,016
64$1,982,279$995,922$794,485$1,713,264
65$2,127,147$987,399$763,776$1,804,653
66$2,284,986$976,651$730,233$1,903,909
67$2,457,063$963,515$693,703$2,011,834
68$2,644,769$947,813$654,029$2,129,314
69$2,849,640$929,360$611,043$2,257,328
70$3,073,364$907,959$564,573$2,396,955
71$3,317,798$883,401$514,438$2,549,390
72$3,584,991$855,464$460,448$2,715,948
73$3,877,193$823,915$402,407$2,898,084
74$4,196,885$788,506$340,106$3,097,402
75$4,546,799$748,974$273,331$3,315,675
76$4,929,942$705,044$201,858$3,554,857
77$5,349,626$656,420$125,449$3,817,107
78$5,809,498$602,795$43,862$4,104,807
79$6,313,574$543,839$0$4,420,587
80$6,866,278$479,207$0$4,776,106
81$7,472,483$408,533$0$5,175,866
82$8,137,555$331,430$0$5,614,553
83$8,867,405$247,489$0$6,096,127
84$9,668,544$156,279$0$6,624,947
85$10,548,144$57,346$0$7,205,824
86$11,514,106$0$0$7,844,060
87$12,575,132$0$0$8,555,909
88$13,740,810$0$0$9,351,215
89$15,021,703$0$0$10,225,205
90$16,429,445$0$0$11,185,827
91$17,976,857$0$0$12,241,838
92$19,678,060$0$0$13,402,887
93$21,548,614$0$0$14,679,603
94$23,605,662$0$0$16,083,697
95$25,868,089$0$0$17,628,072
96$28,356,706$0$0$19,326,944
97$31,094,439$0$0$21,195,977
98$34,106,549$0$0$23,252,428
99$37,420,869$0$0$25,515,312
100$41,068,067$0$0$28,005,582