Can I retire at age 54 with 941,000?

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 $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%11.7%
1 years$77,707$77,015$76,339$75,680$75,037$74,501
2 years$38,469$37,752$37,058$36,385$35,732$35,192
3 years$25,391$24,672$23,979$23,312$22,670$22,142
4 years$18,854$18,136$17,451$16,795$16,168$15,657
5 years$14,932$14,219$13,542$12,900$12,291$11,797
6 years$12,319$11,611$10,944$10,316$9,725$9,250
7 years$10,453$9,751$9,095$8,482$7,909$7,453
8 years$9,054$8,358$7,713$7,115$6,562$6,124
9 years$7,966$7,277$6,643$6,060$5,526$5,107
10 years$7,097$6,415$5,792$5,224$4,708$4,307
11 years$6,386$5,711$5,099$4,547$4,049$3,666
12 years$5,794$5,125$4,525$3,988$3,509$3,144
13 years$5,293$4,632$4,043$3,521$3,060$2,712
14 years$4,865$4,210$3,633$3,125$2,682$2,351
15 years$4,493$3,846$3,280$2,787$2,362$2,047
16 years$4,169$3,529$2,974$2,496$2,087$1,789
17 years$3,883$3,250$2,706$2,242$1,851$1,568
18 years$3,629$3,003$2,470$2,021$1,646$1,378
19 years$3,402$2,783$2,261$1,826$1,467$1,213
20 years$3,198$2,586$2,075$1,654$1,310$1,071
21 years$3,014$2,409$1,909$1,501$1,172$946
22 years$2,847$2,249$1,759$1,365$1,051$838
23 years$2,694$2,103$1,624$1,243$943$742
24 years$2,554$1,971$1,502$1,134$848$659
25 years$2,426$1,849$1,391$1,035$763$585
26 years$2,308$1,738$1,290$947$687$520
27 years$2,199$1,636$1,198$866$620$463
28 years$2,097$1,541$1,114$794$559$412
29 years$2,003$1,454$1,037$728$505$367
30 years$1,915$1,373$966$668$456$327
31 years$1,834$1,298$900$614$412$292
32 years$1,757$1,228$840$564$373$260
33 years$1,685$1,163$784$519$338$232
34 years$1,618$1,102$733$477$306$207
35 years$1,554$1,046$685$439$277$185
36 years$1,495$992$641$404$251$165
37 years$1,438$943$600$373$227$148
38 years$1,385$896$562$344$206$132
39 years$1,334$852$526$317$187$118
40 years$1,286$810$493$292$170$106
41 years$1,241$771$463$270$154$94
42 years$1,198$735$434$249$140$84
43 years$1,157$700$407$230$127$75
44 years$1,118$667$382$212$115$68
45 years$1,081$636$359$196$104$60
46 years$1,045$607$337$181$95$54
47 years$1,012$579$317$167$86$48
48 years$979$553$298$154$78$43
49 years$948$528$280$143$71$39
50 years$919$504$263$132$64$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $941,000, adding $2,179 every year, while hoping to spend $40,517 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: 74/17/9 Blend
53$941,000$941,000$941,000$941,000
54$1,039,230$989,357$974,771$1,114,376
55$1,102,121$994,725$964,316$1,169,586
56$1,170,070$998,999$952,153$1,224,746
57$1,243,549$1,002,082$938,182$1,284,038
58$1,323,077$1,003,870$922,297$1,347,859
59$1,409,227$1,004,256$904,391$1,416,645
60$1,502,628$1,003,124$884,347$1,490,878
61$1,603,969$1,000,350$862,046$1,571,089
62$1,714,011$995,805$837,362$1,657,862
63$1,833,591$989,350$810,164$1,751,842
64$1,963,627$980,838$780,314$1,853,740
65$2,105,132$970,114$747,670$1,964,342
66$2,259,218$957,012$712,080$2,084,510
67$2,427,111$941,359$673,387$2,215,199
68$2,610,160$922,968$631,428$2,357,460
69$2,809,846$901,644$586,032$2,512,452
70$3,027,805$877,179$537,018$2,681,452
71$3,265,833$849,352$484,200$2,865,872
72$3,525,909$817,932$427,382$3,067,265
73$3,810,212$782,671$366,360$3,287,344
74$4,121,141$743,310$300,920$3,528,000
75$4,461,337$699,571$230,841$3,791,318
76$4,833,708$651,165$155,888$4,079,594
77$5,241,456$597,782$75,820$4,395,363
78$5,688,108$539,096$0$4,741,420
79$6,177,547$474,764$0$5,121,769
80$6,714,050$404,421$0$5,546,715
81$7,302,328$327,682$0$6,012,740
82$7,947,569$244,142$0$6,524,005
83$8,655,487$153,371$0$7,085,091
84$9,432,377$54,916$0$7,701,052
85$10,285,171$0$0$8,377,454
86$11,221,507$0$0$9,130,109
87$12,249,797$0$0$9,968,005
88$13,379,310$0$0$10,888,424
89$14,620,254$0$0$11,899,691
90$15,983,877$0$0$13,010,979
91$17,482,568$0$0$14,232,390
92$19,129,978$0$0$15,575,054
93$20,941,146$0$0$17,051,236
94$22,932,640$0$0$18,674,446
95$25,122,715$0$0$20,459,568
96$27,531,482$0$0$22,423,003
97$30,181,100$0$0$24,582,820
98$33,095,984$0$0$26,958,928
99$36,303,033$0$0$29,573,261
100$39,831,885$0$0$32,449,989