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%19.2%
1 years$77,624$76,933$76,258$75,600$74,957$72,183
2 years$38,428$37,712$37,019$36,346$35,694$32,930
3 years$25,364$24,645$23,953$23,287$22,646$19,979
4 years$18,834$18,117$17,432$16,777$16,151$13,603
5 years$14,916$14,204$13,528$12,886$12,278$9,854
6 years$12,305$11,599$10,933$10,305$9,715$7,417
7 years$10,441$9,740$9,085$8,473$7,901$5,729
8 years$9,044$8,349$7,705$7,108$6,555$4,506
9 years$7,958$7,270$6,636$6,054$5,520$3,592
10 years$7,089$6,408$5,786$5,219$4,703$2,893
11 years$6,379$5,704$5,094$4,542$4,045$2,348
12 years$5,788$5,120$4,520$3,984$3,505$1,917
13 years$5,288$4,627$4,039$3,517$3,057$1,573
14 years$4,859$4,206$3,629$3,122$2,679$1,296
15 years$4,489$3,842$3,276$2,784$2,359$1,071
16 years$4,165$3,525$2,970$2,493$2,085$888
17 years$3,879$3,246$2,703$2,240$1,849$737
18 years$3,625$3,000$2,467$2,019$1,644$613
19 years$3,399$2,780$2,259$1,824$1,465$511
20 years$3,195$2,584$2,073$1,652$1,309$426
21 years$3,011$2,406$1,907$1,499$1,171$356
22 years$2,843$2,246$1,757$1,363$1,050$297
23 years$2,691$2,101$1,623$1,242$942$248
24 years$2,552$1,968$1,501$1,132$847$208
25 years$2,423$1,847$1,390$1,034$762$174
26 years$2,305$1,736$1,289$946$687$146
27 years$2,196$1,634$1,197$865$619$122
28 years$2,095$1,540$1,113$793$559$102
29 years$2,001$1,452$1,036$727$504$86
30 years$1,913$1,372$965$667$456$72
31 years$1,832$1,297$899$613$412$60
32 years$1,755$1,227$839$563$373$50
33 years$1,683$1,162$783$518$337$42
34 years$1,616$1,101$732$477$305$35
35 years$1,553$1,045$684$439$277$30
36 years$1,493$991$640$404$251$25
37 years$1,437$942$599$372$227$21
38 years$1,383$895$561$343$206$18
39 years$1,333$851$526$316$187$15
40 years$1,285$810$493$292$169$12
41 years$1,240$771$462$269$154$10
42 years$1,197$734$433$248$139$9
43 years$1,156$699$407$229$127$7
44 years$1,117$667$382$212$115$6
45 years$1,080$636$358$196$104$5
46 years$1,044$606$337$181$95$4
47 years$1,011$579$316$167$86$4
48 years$978$552$297$154$78$3
49 years$947$528$279$143$71$3
50 years$918$504$263$132$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $940,000, adding $5,166 every year, while hoping to spend $55,953 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: 64/7/29 Blend
53$940,000$940,000$940,000$940,000
54$1,041,209$991,389$976,819$1,099,491
55$1,087,878$980,433$950,009$1,128,653
56$1,137,433$967,066$920,425$1,153,902
57$1,190,108$951,109$887,916$1,180,289
58$1,246,161$932,374$852,323$1,207,934
59$1,305,872$910,664$813,479$1,236,973
60$1,369,552$885,767$771,211$1,267,555
61$1,437,536$857,460$725,337$1,299,847
62$1,510,196$825,507$675,667$1,334,037
63$1,587,938$789,658$622,003$1,370,333
64$1,671,206$749,650$564,138$1,408,968
65$1,760,488$705,201$501,856$1,450,200
66$1,856,320$656,018$434,930$1,494,319
67$1,959,288$601,787$363,124$1,541,644
68$2,070,039$542,178$286,192$1,592,533
69$2,189,280$476,841$203,877$1,647,382
70$2,317,788$405,408$115,908$1,706,632
71$2,456,418$327,489$22,007$1,770,774
72$2,606,108$242,671$0$1,840,351
73$2,767,889$150,520$0$1,940,166
74$2,942,894$50,577$0$2,055,530
75$3,132,370$0$0$2,180,468
76$3,337,685$0$0$2,320,349
77$3,560,345$0$0$2,476,327
78$3,802,006$0$0$2,645,672
79$4,064,490$0$0$2,829,669
80$4,349,800$0$0$3,029,729
81$4,660,139$0$0$3,247,405
82$4,997,932$0$0$3,484,406
83$5,365,848$0$0$3,742,613
84$5,766,823$0$0$4,024,095
85$6,204,087$0$0$4,331,130
86$6,681,197$0$0$4,666,224
87$7,202,067$0$0$5,032,138
88$7,771,007$0$0$5,431,909
89$8,392,760$0$0$5,868,881
90$9,072,548$0$0$6,346,736
91$9,816,123$0$0$6,869,528
92$10,629,815$0$0$7,441,720
93$11,520,595$0$0$8,068,229
94$12,496,142$0$0$8,754,466
95$13,564,907$0$0$9,506,392
96$14,736,203$0$0$10,330,573
97$16,020,283$0$0$11,234,238
98$17,428,440$0$0$12,225,350
99$18,973,113$0$0$13,312,679
100$20,668,002$0$0$14,505,887