Can I retire at age 54 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$77,624$76,933$76,258$75,600$74,957$72,616
2 years$38,428$37,712$37,019$36,346$35,694$33,356
3 years$25,364$24,645$23,953$23,287$22,646$20,384
4 years$18,834$18,117$17,432$16,777$16,151$13,984
5 years$14,916$14,204$13,528$12,886$12,278$10,210
6 years$12,305$11,599$10,933$10,305$9,715$7,749
7 years$10,441$9,740$9,085$8,473$7,901$6,036
8 years$9,044$8,349$7,705$7,108$6,555$4,790
9 years$7,958$7,270$6,636$6,054$5,520$3,854
10 years$7,089$6,408$5,786$5,219$4,703$3,133
11 years$6,379$5,704$5,094$4,542$4,045$2,568
12 years$5,788$5,120$4,520$3,984$3,505$2,118
13 years$5,288$4,627$4,039$3,517$3,057$1,756
14 years$4,859$4,206$3,629$3,122$2,679$1,462
15 years$4,489$3,842$3,276$2,784$2,359$1,221
16 years$4,165$3,525$2,970$2,493$2,085$1,023
17 years$3,879$3,246$2,703$2,240$1,849$859
18 years$3,625$3,000$2,467$2,019$1,644$722
19 years$3,399$2,780$2,259$1,824$1,465$609
20 years$3,195$2,584$2,073$1,652$1,309$513
21 years$3,011$2,406$1,907$1,499$1,171$434
22 years$2,843$2,246$1,757$1,363$1,050$367
23 years$2,691$2,101$1,623$1,242$942$310
24 years$2,552$1,968$1,501$1,132$847$263
25 years$2,423$1,847$1,390$1,034$762$222
26 years$2,305$1,736$1,289$946$687$188
27 years$2,196$1,634$1,197$865$619$160
28 years$2,095$1,540$1,113$793$559$135
29 years$2,001$1,452$1,036$727$504$115
30 years$1,913$1,372$965$667$456$97
31 years$1,832$1,297$899$613$412$83
32 years$1,755$1,227$839$563$373$70
33 years$1,683$1,162$783$518$337$60
34 years$1,616$1,101$732$477$305$51
35 years$1,553$1,045$684$439$277$43
36 years$1,493$991$640$404$251$36
37 years$1,437$942$599$372$227$31
38 years$1,383$895$561$343$206$26
39 years$1,333$851$526$316$187$22
40 years$1,285$810$493$292$169$19
41 years$1,240$771$462$269$154$16
42 years$1,197$734$433$248$139$14
43 years$1,156$699$407$229$127$12
44 years$1,117$667$382$212$115$10
45 years$1,080$636$358$196$104$8
46 years$1,044$606$337$181$95$7
47 years$1,011$579$316$167$86$6
48 years$978$552$297$154$78$5
49 years$947$528$279$143$71$4
50 years$918$504$263$132$64$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $940,000, adding $6,047 every year, while hoping to spend $38,372 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: 48/35/17 Blend
53$940,000$940,000$940,000$940,000
54$1,042,117$992,297$977,727$1,086,894
55$1,107,586$1,000,093$969,654$1,126,348
56$1,178,446$1,006,984$960,024$1,164,760
57$1,255,207$1,012,886$948,744$1,205,644
58$1,338,430$1,017,708$935,719$1,249,246
59$1,428,730$1,021,356$920,845$1,295,839
60$1,526,785$1,023,727$904,018$1,345,724
61$1,633,339$1,024,712$885,125$1,399,237
62$1,749,213$1,024,196$864,049$1,456,749
63$1,875,308$1,022,057$840,670$1,518,670
64$2,012,616$1,018,164$814,860$1,585,455
65$2,162,230$1,012,381$786,485$1,657,608
66$2,325,351$1,004,561$755,405$1,735,686
67$2,503,301$994,549$721,475$1,820,308
68$2,697,536$982,180$684,543$1,912,154
69$2,909,658$967,281$644,449$2,011,982
70$3,141,431$949,666$601,026$2,120,627
71$3,394,798$929,140$554,101$2,239,014
72$3,671,895$905,496$503,492$2,368,166
73$3,975,078$878,514$449,008$2,509,215
74$4,306,937$847,963$390,451$2,663,412
75$4,670,328$813,597$327,615$2,832,140
76$5,068,393$775,155$260,282$3,016,928
77$5,504,595$732,362$188,226$3,219,468
78$5,982,744$684,929$111,213$3,441,626
79$6,507,040$632,547$28,994$3,685,469
80$7,082,107$574,890$0$3,953,277
81$7,713,039$511,617$0$4,258,229
82$8,405,445$442,362$0$4,598,758
83$9,165,505$366,742$0$4,972,727
84$10,000,026$284,353$0$5,383,588
85$10,916,508$194,765$0$5,835,149
86$11,923,209$97,526$0$6,331,614
87$13,029,230$0$0$6,877,620
88$14,244,596$0$0$7,481,304
89$15,580,351$0$0$8,186,179
90$17,048,661$0$0$8,961,117
91$18,662,930$0$0$9,813,208
92$20,437,927$0$0$10,750,260
93$22,389,923$0$0$11,780,879
94$24,536,842$0$0$12,914,545
95$26,898,436$0$0$14,161,703
96$29,496,467$0$0$15,533,863
97$32,354,910$0$0$17,043,704
98$35,500,183$0$0$18,705,199
99$38,961,393$0$0$20,533,742
100$42,770,613$0$0$22,546,296