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%16%
1 years$77,707$77,015$76,339$75,680$75,037$73,193
2 years$38,469$37,752$37,058$36,385$35,732$33,886
3 years$25,391$24,672$23,979$23,312$22,670$20,879
4 years$18,854$18,136$17,451$16,795$16,168$14,446
5 years$14,932$14,219$13,542$12,900$12,291$10,643
6 years$12,319$11,611$10,944$10,316$9,725$8,153
7 years$10,453$9,751$9,095$8,482$7,909$6,413
8 years$9,054$8,358$7,713$7,115$6,562$5,140
9 years$7,966$7,277$6,643$6,060$5,526$4,178
10 years$7,097$6,415$5,792$5,224$4,708$3,433
11 years$6,386$5,711$5,099$4,547$4,049$2,844
12 years$5,794$5,125$4,525$3,988$3,509$2,373
13 years$5,293$4,632$4,043$3,521$3,060$1,990
14 years$4,865$4,210$3,633$3,125$2,682$1,676
15 years$4,493$3,846$3,280$2,787$2,362$1,417
16 years$4,169$3,529$2,974$2,496$2,087$1,201
17 years$3,883$3,250$2,706$2,242$1,851$1,021
18 years$3,629$3,003$2,470$2,021$1,646$870
19 years$3,402$2,783$2,261$1,826$1,467$742
20 years$3,198$2,586$2,075$1,654$1,310$634
21 years$3,014$2,409$1,909$1,501$1,172$543
22 years$2,847$2,249$1,759$1,365$1,051$465
23 years$2,694$2,103$1,624$1,243$943$399
24 years$2,554$1,971$1,502$1,134$848$342
25 years$2,426$1,849$1,391$1,035$763$294
26 years$2,308$1,738$1,290$947$687$252
27 years$2,199$1,636$1,198$866$620$217
28 years$2,097$1,541$1,114$794$559$186
29 years$2,003$1,454$1,037$728$505$160
30 years$1,915$1,373$966$668$456$138
31 years$1,834$1,298$900$614$412$119
32 years$1,757$1,228$840$564$373$102
33 years$1,685$1,163$784$519$338$88
34 years$1,618$1,102$733$477$306$76
35 years$1,554$1,046$685$439$277$65
36 years$1,495$992$641$404$251$56
37 years$1,438$943$600$373$227$48
38 years$1,385$896$562$344$206$42
39 years$1,334$852$526$317$187$36
40 years$1,286$810$493$292$170$31
41 years$1,241$771$463$270$154$27
42 years$1,198$735$434$249$140$23
43 years$1,157$700$407$230$127$20
44 years$1,118$667$382$212$115$17
45 years$1,081$636$359$196$104$15
46 years$1,045$607$337$181$95$13
47 years$1,012$579$317$167$86$11
48 years$979$553$298$154$78$9
49 years$948$528$280$143$71$8
50 years$919$504$263$132$64$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $941,000, adding $3,940 every year, while hoping to spend $25,062 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: 67/26/7 Blend
53$941,000$941,000$941,000$941,000
54$1,041,046$991,173$976,588$1,109,291
55$1,120,567$1,013,075$982,638$1,176,979
56$1,207,359$1,035,210$988,050$1,247,560
57$1,302,138$1,057,563$992,778$1,324,049
58$1,405,690$1,080,118$996,770$1,407,021
59$1,518,882$1,102,856$999,974$1,497,106
60$1,642,670$1,125,757$1,002,334$1,594,999
61$1,778,102$1,148,799$1,003,793$1,701,467
62$1,926,337$1,171,959$1,004,289$1,817,351
63$2,088,649$1,195,210$1,003,757$1,943,583
64$2,266,440$1,218,524$1,002,132$2,081,183
65$2,461,255$1,241,870$999,341$2,231,281
66$2,674,795$1,265,214$995,312$2,395,118
67$2,908,936$1,288,521$989,966$2,574,061
68$3,165,740$1,311,751$983,222$2,769,620
69$3,447,480$1,334,862$974,996$2,983,453
70$3,756,662$1,357,809$965,197$3,217,392
71$4,096,043$1,380,543$953,732$3,473,453
72$4,468,661$1,403,011$940,504$3,753,858
73$4,877,863$1,425,157$925,409$4,061,055
74$5,327,335$1,446,920$908,341$4,397,742
75$5,821,140$1,468,236$889,187$4,766,892
76$6,363,750$1,489,034$867,829$5,171,780
77$6,960,096$1,509,240$844,144$5,616,018
78$7,615,608$1,528,774$818,005$6,103,584
79$8,336,267$1,547,551$789,275$6,638,861
80$9,128,665$1,565,480$757,815$7,226,682
81$10,000,064$1,582,464$723,477$7,872,371
82$10,958,465$1,598,399$686,108$8,581,796
83$12,012,682$1,613,174$645,546$9,361,424
84$13,172,427$1,626,671$601,623$10,218,381
85$14,448,401$1,638,764$554,164$11,160,521
86$15,852,395$1,649,321$502,986$12,196,500
87$17,397,400$1,658,198$447,896$13,335,858
88$19,097,729$1,665,244$388,694$14,589,106
89$20,969,153$1,670,297$325,172$15,967,832
90$23,029,052$1,673,187$257,111$17,484,803
91$25,296,574$1,673,732$184,282$19,154,092
92$27,792,818$1,671,737$106,449$20,991,208
93$30,541,032$1,666,999$23,362$23,013,242
94$33,566,834$1,659,299$0$25,239,031
95$36,898,453$1,648,406$0$27,694,212
96$40,566,992$1,634,076$0$30,398,965
97$44,606,727$1,616,047$0$33,376,779
98$49,055,425$1,594,045$0$36,655,463
99$53,954,702$1,567,777$0$40,265,667
100$59,350,418$1,536,934$0$44,241,164