Can I retire at age 54 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$77,789$77,097$76,421$75,761$75,116$73,902
2 years$38,510$37,792$37,097$36,423$35,770$34,550
3 years$25,418$24,698$24,004$23,337$22,694$21,506
4 years$18,874$18,155$17,469$16,813$16,185$15,039
5 years$14,948$14,234$13,557$12,914$12,304$11,202
6 years$12,332$11,623$10,956$10,327$9,736$8,680
7 years$10,464$9,761$9,104$8,491$7,918$6,908
8 years$9,063$8,367$7,721$7,123$6,568$5,605
9 years$7,975$7,285$6,650$6,067$5,532$4,614
10 years$7,104$6,421$5,798$5,230$4,713$3,840
11 years$6,393$5,717$5,104$4,551$4,054$3,225
12 years$5,800$5,131$4,530$3,992$3,513$2,727
13 years$5,299$4,637$4,047$3,525$3,063$2,319
14 years$4,870$4,215$3,636$3,129$2,685$1,981
15 years$4,498$3,850$3,283$2,790$2,364$1,699
16 years$4,173$3,533$2,977$2,498$2,089$1,463
17 years$3,887$3,253$2,709$2,245$1,853$1,262
18 years$3,633$3,006$2,473$2,023$1,647$1,092
19 years$3,406$2,786$2,264$1,828$1,468$946
20 years$3,202$2,589$2,077$1,656$1,312$822
21 years$3,017$2,412$1,911$1,503$1,174$714
22 years$2,850$2,251$1,761$1,366$1,052$622
23 years$2,697$2,105$1,626$1,244$944$542
24 years$2,557$1,973$1,504$1,135$849$473
25 years$2,429$1,851$1,393$1,036$764$413
26 years$2,310$1,740$1,292$948$688$361
27 years$2,201$1,637$1,200$867$620$315
28 years$2,100$1,543$1,115$795$560$276
29 years$2,005$1,456$1,038$729$505$241
30 years$1,918$1,375$967$669$457$211
31 years$1,836$1,299$901$614$413$185
32 years$1,759$1,230$841$564$373$162
33 years$1,687$1,164$785$519$338$142
34 years$1,619$1,104$734$478$306$124
35 years$1,556$1,047$686$440$277$109
36 years$1,496$994$642$405$251$96
37 years$1,440$944$600$373$228$84
38 years$1,386$897$562$344$206$74
39 years$1,336$853$527$317$187$65
40 years$1,288$811$494$292$170$57
41 years$1,242$772$463$270$154$50
42 years$1,199$736$434$249$140$44
43 years$1,158$701$408$230$127$38
44 years$1,119$668$383$212$115$34
45 years$1,082$637$359$196$104$29
46 years$1,047$608$337$181$95$26
47 years$1,013$580$317$167$86$23
48 years$980$554$298$155$78$20
49 years$949$529$280$143$71$17
50 years$920$505$263$132$65$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $942,000, adding $4,718 every year, while hoping to spend $32,638 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: 39/40/21 Blend
53$942,000$942,000$942,000$942,000
54$1,042,951$993,025$978,424$1,076,941
55$1,114,605$1,006,956$976,474$1,115,789
56$1,192,474$1,020,477$973,366$1,154,327
57$1,277,158$1,033,531$969,025$1,195,333
58$1,369,315$1,046,062$963,374$1,239,049
59$1,469,672$1,058,005$956,334$1,285,744
60$1,579,027$1,069,296$947,820$1,335,714
61$1,698,259$1,079,862$937,743$1,389,289
62$1,828,335$1,089,629$926,010$1,446,832
63$1,970,319$1,098,515$912,526$1,508,747
64$2,125,384$1,106,435$897,188$1,575,478
65$2,294,819$1,113,296$879,890$1,647,518
66$2,480,045$1,119,002$860,521$1,725,415
67$2,682,626$1,123,450$838,964$1,809,769
68$2,904,283$1,126,527$815,098$1,901,250
69$3,146,912$1,128,119$788,796$2,000,595
70$3,412,600$1,128,100$759,924$2,108,620
71$3,703,646$1,126,338$728,343$2,226,229
72$4,022,583$1,122,693$693,907$2,354,417
73$4,372,197$1,117,017$656,464$2,494,289
74$4,755,561$1,109,150$615,855$2,647,064
75$5,176,056$1,098,926$571,914$2,814,088
76$5,637,407$1,086,167$524,466$2,996,852
77$6,143,718$1,070,685$473,332$3,196,999
78$6,699,509$1,052,280$418,319$3,416,348
79$7,309,757$1,030,740$359,232$3,656,907
80$7,979,949$1,005,843$295,863$3,920,895
81$8,716,125$977,350$227,995$4,210,761
82$9,524,941$945,011$155,404$4,529,212
83$10,413,728$908,561$77,854$4,879,237
84$11,390,566$867,717$0$5,264,137
85$12,464,351$822,183$0$5,688,655
86$13,644,890$771,645$0$6,174,403
87$14,942,982$715,769$0$6,708,420
88$16,370,528$654,204$0$7,295,674
89$17,940,640$586,578$0$7,941,642
90$19,667,764$512,498$0$8,652,369
91$21,567,815$431,550$0$9,434,519
92$23,658,331$343,294$0$10,295,446
93$25,958,633$247,268$0$11,243,258
94$28,490,011$142,982$0$12,286,899
95$31,275,923$29,919$0$13,436,235
96$34,342,216$0$0$14,702,144
97$37,717,369$0$0$16,137,324
98$41,432,764$0$0$17,731,831
99$45,522,978$0$0$19,487,357
100$50,026,112$0$0$21,420,272