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%14.4%
1 years$77,459$76,769$76,096$75,439$74,797$73,437
2 years$38,346$37,632$36,940$36,269$35,618$34,253
3 years$25,310$24,593$23,903$23,238$22,597$21,269
4 years$18,793$18,078$17,395$16,741$16,117$14,836
5 years$14,884$14,174$13,499$12,859$12,252$11,022
6 years$12,279$11,574$10,909$10,283$9,694$8,517
7 years$10,419$9,720$9,066$8,455$7,884$6,760
8 years$9,025$8,332$7,688$7,092$6,541$5,469
9 years$7,941$7,254$6,622$6,041$5,508$4,488
10 years$7,074$6,394$5,773$5,208$4,693$3,724
11 years$6,365$5,692$5,083$4,532$4,036$3,117
12 years$5,775$5,109$4,511$3,975$3,498$2,628
13 years$5,276$4,617$4,030$3,510$3,050$2,227
14 years$4,849$4,197$3,621$3,115$2,674$1,897
15 years$4,479$3,834$3,269$2,778$2,354$1,621
16 years$4,156$3,518$2,964$2,488$2,081$1,390
17 years$3,871$3,240$2,697$2,235$1,845$1,196
18 years$3,618$2,993$2,462$2,014$1,640$1,030
19 years$3,391$2,774$2,254$1,820$1,462$890
20 years$3,188$2,578$2,069$1,649$1,306$770
21 years$3,004$2,401$1,903$1,496$1,169$667
22 years$2,837$2,242$1,754$1,360$1,048$578
23 years$2,685$2,096$1,619$1,239$940$502
24 years$2,546$1,964$1,497$1,130$845$436
25 years$2,418$1,843$1,387$1,032$761$379
26 years$2,300$1,732$1,286$944$685$330
27 years$2,192$1,630$1,194$864$618$287
28 years$2,091$1,536$1,110$791$557$250
29 years$1,997$1,449$1,033$726$503$218
30 years$1,909$1,369$963$666$455$190
31 years$1,828$1,294$897$612$411$166
32 years$1,751$1,224$837$562$372$145
33 years$1,680$1,159$782$517$337$126
34 years$1,613$1,099$730$476$305$110
35 years$1,549$1,042$683$438$276$96
36 years$1,490$989$639$403$250$84
37 years$1,434$940$598$371$227$73
38 years$1,380$893$560$342$205$64
39 years$1,330$849$525$316$186$56
40 years$1,282$808$492$291$169$49
41 years$1,237$769$461$269$153$43
42 years$1,194$732$432$248$139$37
43 years$1,153$698$406$229$126$33
44 years$1,114$665$381$211$115$28
45 years$1,077$634$358$195$104$25
46 years$1,042$605$336$180$94$22
47 years$1,008$577$316$167$86$19
48 years$976$551$297$154$78$17
49 years$945$526$279$142$71$15
50 years$916$503$262$131$64$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $938,000, adding $2,531 every year, while hoping to spend $30,545 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: 59/19/22 Blend
53$938,000$938,000$938,000$938,000
54$1,036,287$986,573$972,034$1,091,217
55$1,109,488$1,002,415$972,097$1,144,682
56$1,189,133$1,018,010$971,139$1,199,434
57$1,275,845$1,033,313$969,093$1,258,479
58$1,370,312$1,048,277$965,889$1,322,238
59$1,473,292$1,062,850$961,454$1,391,175
60$1,585,617$1,076,979$955,712$1,465,806
61$1,708,203$1,090,604$948,581$1,546,696
62$1,842,060$1,103,664$939,979$1,634,469
63$1,988,299$1,116,092$929,817$1,729,814
64$2,148,141$1,127,817$918,002$1,833,492
65$2,322,935$1,138,763$904,438$1,946,341
66$2,514,161$1,148,849$889,023$2,069,285
67$2,723,453$1,157,990$871,653$2,203,345
68$2,952,606$1,166,093$852,215$2,349,646
69$3,203,602$1,173,061$830,594$2,509,429
70$3,478,618$1,178,790$806,668$2,684,062
71$3,780,056$1,183,170$780,310$2,875,057
72$4,110,560$1,186,083$751,388$3,084,077
73$4,473,040$1,187,404$719,763$3,312,960
74$4,870,704$1,187,001$685,289$3,563,732
75$5,307,084$1,184,732$647,814$3,838,627
76$5,786,072$1,180,449$607,181$4,140,109
77$6,311,953$1,173,993$563,223$4,470,896
78$6,889,448$1,165,194$515,767$4,833,984
79$7,523,758$1,153,875$464,632$5,232,678
80$8,220,613$1,139,847$409,629$5,670,622
81$8,986,325$1,122,908$350,560$6,151,837
82$9,827,846$1,102,847$287,220$6,680,753
83$10,752,837$1,079,437$219,392$7,262,258
84$11,769,737$1,052,441$146,853$7,901,740
85$12,887,845$1,021,605$69,367$8,605,141
86$14,117,404$986,662$0$9,379,012
87$15,469,700$947,330$0$10,233,706
88$16,957,169$903,309$0$11,191,639
89$18,593,511$854,281$0$12,245,355
90$20,393,821$799,913$0$13,404,602
91$22,374,732$739,850$0$14,680,123
92$24,554,568$673,716$0$16,083,758
93$26,953,523$601,117$0$17,628,555
94$29,593,845$521,634$0$19,328,897
95$32,500,048$434,825$0$21,200,633
96$35,699,144$340,222$0$23,261,233
97$39,220,896$237,333$0$25,529,950
98$43,098,101$125,636$0$28,028,002
99$47,366,897$4,581$0$30,778,775
100$52,067,102$0$0$33,808,043