Can I retire at age 54 with 941,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$77,707$77,015$76,339$75,680$75,037$72,868
2 years$38,469$37,752$37,058$36,385$35,732$33,564
3 years$25,391$24,672$23,979$23,312$22,670$20,571
4 years$18,854$18,136$17,451$16,795$16,168$14,155
5 years$14,932$14,219$13,542$12,900$12,291$10,368
6 years$12,319$11,611$10,944$10,316$9,725$7,895
7 years$10,453$9,751$9,095$8,482$7,909$6,171
8 years$9,054$8,358$7,713$7,115$6,562$4,914
9 years$7,966$7,277$6,643$6,060$5,526$3,968
10 years$7,097$6,415$5,792$5,224$4,708$3,238
11 years$6,386$5,711$5,099$4,547$4,049$2,664
12 years$5,794$5,125$4,525$3,988$3,509$2,206
13 years$5,293$4,632$4,043$3,521$3,060$1,837
14 years$4,865$4,210$3,633$3,125$2,682$1,535
15 years$4,493$3,846$3,280$2,787$2,362$1,288
16 years$4,169$3,529$2,974$2,496$2,087$1,084
17 years$3,883$3,250$2,706$2,242$1,851$914
18 years$3,629$3,003$2,470$2,021$1,646$772
19 years$3,402$2,783$2,261$1,826$1,467$653
20 years$3,198$2,586$2,075$1,654$1,310$554
21 years$3,014$2,409$1,909$1,501$1,172$470
22 years$2,847$2,249$1,759$1,365$1,051$399
23 years$2,694$2,103$1,624$1,243$943$339
24 years$2,554$1,971$1,502$1,134$848$288
25 years$2,426$1,849$1,391$1,035$763$246
26 years$2,308$1,738$1,290$947$687$209
27 years$2,199$1,636$1,198$866$620$178
28 years$2,097$1,541$1,114$794$559$152
29 years$2,003$1,454$1,037$728$505$129
30 years$1,915$1,373$966$668$456$110
31 years$1,834$1,298$900$614$412$94
32 years$1,757$1,228$840$564$373$80
33 years$1,685$1,163$784$519$338$68
34 years$1,618$1,102$733$477$306$58
35 years$1,554$1,046$685$439$277$50
36 years$1,495$992$641$404$251$43
37 years$1,438$943$600$373$227$36
38 years$1,385$896$562$344$206$31
39 years$1,334$852$526$317$187$26
40 years$1,286$810$493$292$170$23
41 years$1,241$771$463$270$154$19
42 years$1,198$735$434$249$140$16
43 years$1,157$700$407$230$127$14
44 years$1,118$667$382$212$115$12
45 years$1,081$636$359$196$104$10
46 years$1,045$607$337$181$95$9
47 years$1,012$579$317$167$86$7
48 years$979$553$298$154$78$6
49 years$948$528$280$143$71$5
50 years$919$504$263$132$64$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $941,000, adding $6,840 every year, while hoping to spend $37,572 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: 82/9/9 Blend
53$941,000$941,000$941,000$941,000
54$1,044,037$994,164$979,579$1,127,766
55$1,110,553$1,002,902$972,419$1,192,314
56$1,182,594$1,010,809$963,759$1,257,469
57$1,260,684$1,017,804$953,510$1,327,859
58$1,345,399$1,023,802$941,579$1,403,990
59$1,437,374$1,028,712$927,865$1,486,416
60$1,537,304$1,032,437$912,267$1,575,747
61$1,645,956$1,034,874$894,675$1,672,658
62$1,764,175$1,035,913$874,978$1,777,889
63$1,892,887$1,035,439$853,056$1,892,257
64$2,033,114$1,033,328$828,785$2,016,661
65$2,185,979$1,029,449$802,037$2,152,094
66$2,352,719$1,023,663$772,676$2,299,646
67$2,534,696$1,015,821$740,560$2,460,521
68$2,733,407$1,005,769$705,541$2,636,044
69$2,950,502$993,339$667,464$2,827,677
70$3,187,797$978,356$626,168$3,037,027
71$3,447,291$960,634$581,483$3,265,869
72$3,731,185$939,976$533,233$3,516,157
73$4,041,902$916,171$481,233$3,790,044
74$4,382,112$889,000$425,290$4,089,903
75$4,754,754$858,227$365,204$4,418,349
76$5,163,063$823,604$300,762$4,778,265
77$5,610,605$784,870$231,747$5,172,825
78$6,101,304$741,747$157,928$5,605,530
79$6,639,485$693,940$79,067$6,080,237
80$7,229,910$641,140$0$6,601,197
81$7,877,824$583,019$0$7,173,585
82$8,589,004$519,230$0$7,810,208
83$9,369,816$449,405$0$8,509,183
84$10,227,269$373,158$0$9,276,808
85$11,169,088$290,080$0$10,120,023
86$12,203,779$199,738$0$11,046,476
87$13,340,715$101,676$0$12,064,592
88$14,590,221$0$0$13,183,657
89$15,963,672$0$0$14,414,355
90$17,473,601$0$0$15,778,439
91$19,133,814$0$0$17,278,315
92$20,959,523$0$0$18,927,728
93$22,967,487$0$0$20,741,822
94$25,176,171$0$0$22,737,283
95$27,605,921$0$0$24,932,495
96$30,279,150$0$0$27,347,713
97$33,220,558$0$0$30,005,254
98$36,457,357$0$0$32,929,708
99$40,019,531$0$0$36,148,171
100$43,940,118$0$0$39,690,495