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%12.5%
1 years$77,624$76,933$76,258$75,600$74,957$74,174
2 years$38,428$37,712$37,019$36,346$35,694$34,905
3 years$25,364$24,645$23,953$23,287$22,646$21,876
4 years$18,834$18,117$17,432$16,777$16,151$15,407
5 years$14,916$14,204$13,528$12,886$12,278$11,560
6 years$12,305$11,599$10,933$10,305$9,715$9,025
7 years$10,441$9,740$9,085$8,473$7,901$7,240
8 years$9,044$8,349$7,705$7,108$6,555$5,921
9 years$7,958$7,270$6,636$6,054$5,520$4,915
10 years$7,089$6,408$5,786$5,219$4,703$4,126
11 years$6,379$5,704$5,094$4,542$4,045$3,495
12 years$5,788$5,120$4,520$3,984$3,505$2,981
13 years$5,288$4,627$4,039$3,517$3,057$2,559
14 years$4,859$4,206$3,629$3,122$2,679$2,207
15 years$4,489$3,842$3,276$2,784$2,359$1,911
16 years$4,165$3,525$2,970$2,493$2,085$1,661
17 years$3,879$3,246$2,703$2,240$1,849$1,447
18 years$3,625$3,000$2,467$2,019$1,644$1,265
19 years$3,399$2,780$2,259$1,824$1,465$1,107
20 years$3,195$2,584$2,073$1,652$1,309$971
21 years$3,011$2,406$1,907$1,499$1,171$853
22 years$2,843$2,246$1,757$1,363$1,050$751
23 years$2,691$2,101$1,623$1,242$942$662
24 years$2,552$1,968$1,501$1,132$847$583
25 years$2,423$1,847$1,390$1,034$762$515
26 years$2,305$1,736$1,289$946$687$455
27 years$2,196$1,634$1,197$865$619$402
28 years$2,095$1,540$1,113$793$559$356
29 years$2,001$1,452$1,036$727$504$315
30 years$1,913$1,372$965$667$456$279
31 years$1,832$1,297$899$613$412$247
32 years$1,755$1,227$839$563$373$219
33 years$1,683$1,162$783$518$337$194
34 years$1,616$1,101$732$477$305$172
35 years$1,553$1,045$684$439$277$153
36 years$1,493$991$640$404$251$136
37 years$1,437$942$599$372$227$120
38 years$1,383$895$561$343$206$107
39 years$1,333$851$526$316$187$95
40 years$1,285$810$493$292$169$84
41 years$1,240$771$462$269$154$75
42 years$1,197$734$433$248$139$66
43 years$1,156$699$407$229$127$59
44 years$1,117$667$382$212$115$52
45 years$1,080$636$358$196$104$47
46 years$1,044$606$337$181$95$41
47 years$1,011$579$316$167$86$37
48 years$978$552$297$154$78$33
49 years$947$528$279$143$71$29
50 years$918$504$263$132$64$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $940,000, adding $4,220 every year, while hoping to spend $37,979 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: 51/22/27 Blend
53$940,000$940,000$940,000$940,000
54$1,040,233$990,413$975,843$1,085,191
55$1,105,927$998,534$968,124$1,125,048
56$1,177,050$1,005,780$958,874$1,164,203
57$1,254,113$1,012,068$948,001$1,206,026
58$1,337,683$1,017,309$935,410$1,250,787
59$1,428,381$1,021,411$920,999$1,298,787
60$1,526,888$1,024,272$904,665$1,350,356
61$1,633,956$1,025,788$886,297$1,405,861
62$1,750,413$1,025,844$865,781$1,465,710
63$1,877,166$1,024,322$842,996$1,530,352
64$2,015,217$1,021,093$817,816$1,600,285
65$2,165,666$1,016,024$790,110$1,676,061
66$2,329,725$1,008,970$759,740$1,758,288
67$2,508,728$999,781$726,562$1,847,641
68$2,704,142$988,294$690,426$1,944,866
69$2,917,584$974,340$651,175$2,050,788
70$3,150,832$957,737$608,643$2,166,319
71$3,405,844$938,293$562,660$2,292,468
72$3,684,776$915,806$513,046$2,430,349
73$3,990,004$890,060$459,613$2,581,196
74$4,324,139$860,829$402,165$2,746,371
75$4,690,062$827,870$340,499$2,927,378
76$5,090,943$790,930$274,399$3,125,881
77$5,530,271$749,738$203,644$3,343,717
78$6,011,893$704,009$128,000$3,582,918
79$6,540,043$653,442$47,225$3,845,725
80$7,119,384$597,718$0$4,134,616
81$7,755,054$536,499$0$4,463,556
82$8,452,712$469,429$0$4,839,584
83$9,218,589$396,133$0$5,252,498
84$10,059,553$316,211$0$5,706,064
85$10,983,167$229,244$0$6,204,434
86$11,997,761$134,789$0$6,752,190
87$13,112,515$32,375$0$7,354,379
88$14,337,540$0$0$8,016,570
89$15,683,975$0$0$8,763,904
90$17,164,092$0$0$9,594,160
91$18,791,413$0$0$10,507,096
92$20,580,832$0$0$11,511,083
93$22,548,763$0$0$12,615,343
94$24,713,286$0$0$13,830,036
95$27,094,323$0$0$15,166,358
96$29,713,825$0$0$16,636,643
97$32,595,977$0$0$18,254,482
98$35,767,425$0$0$20,034,848
99$39,257,531$0$0$21,994,242
100$43,098,646$0$0$24,150,843