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%15.6%
1 years$77,789$77,097$76,421$75,761$75,116$73,390
2 years$38,510$37,792$37,097$36,423$35,770$34,040
3 years$25,418$24,698$24,004$23,337$22,694$21,015
4 years$18,874$18,155$17,469$16,813$16,185$14,570
5 years$14,948$14,234$13,557$12,914$12,304$10,756
6 years$12,332$11,623$10,956$10,327$9,736$8,258
7 years$10,464$9,761$9,104$8,491$7,918$6,510
8 years$9,063$8,367$7,721$7,123$6,568$5,230
9 years$7,975$7,285$6,650$6,067$5,532$4,262
10 years$7,104$6,421$5,798$5,230$4,713$3,510
11 years$6,393$5,717$5,104$4,551$4,054$2,916
12 years$5,800$5,131$4,530$3,992$3,513$2,439
13 years$5,299$4,637$4,047$3,525$3,063$2,051
14 years$4,870$4,215$3,636$3,129$2,685$1,732
15 years$4,498$3,850$3,283$2,790$2,364$1,468
16 years$4,173$3,533$2,977$2,498$2,089$1,248
17 years$3,887$3,253$2,709$2,245$1,853$1,064
18 years$3,633$3,006$2,473$2,023$1,647$909
19 years$3,406$2,786$2,264$1,828$1,468$778
20 years$3,202$2,589$2,077$1,656$1,312$667
21 years$3,017$2,412$1,911$1,503$1,174$573
22 years$2,850$2,251$1,761$1,366$1,052$492
23 years$2,697$2,105$1,626$1,244$944$423
24 years$2,557$1,973$1,504$1,135$849$364
25 years$2,429$1,851$1,393$1,036$764$314
26 years$2,310$1,740$1,292$948$688$270
27 years$2,201$1,637$1,200$867$620$233
28 years$2,100$1,543$1,115$795$560$201
29 years$2,005$1,456$1,038$729$505$174
30 years$1,918$1,375$967$669$457$150
31 years$1,836$1,299$901$614$413$129
32 years$1,759$1,230$841$564$373$112
33 years$1,687$1,164$785$519$338$97
34 years$1,619$1,104$734$478$306$83
35 years$1,556$1,047$686$440$277$72
36 years$1,496$994$642$405$251$62
37 years$1,440$944$600$373$228$54
38 years$1,386$897$562$344$206$47
39 years$1,336$853$527$317$187$40
40 years$1,288$811$494$292$170$35
41 years$1,242$772$463$270$154$30
42 years$1,199$736$434$249$140$26
43 years$1,158$701$408$230$127$23
44 years$1,119$668$383$212$115$19
45 years$1,082$637$359$196$104$17
46 years$1,047$608$337$181$95$15
47 years$1,013$580$317$167$86$13
48 years$980$554$298$155$78$11
49 years$949$529$280$143$71$9
50 years$920$505$263$132$65$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $942,000, adding $3,007 every year, while hoping to spend $59,502 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: 54/26/20 Blend
53$942,000$942,000$942,000$942,000
54$1,041,186$991,260$976,659$1,091,589
55$1,084,077$976,522$946,067$1,111,719
56$1,129,349$959,067$912,456$1,127,100
57$1,177,182$938,701$875,663$1,142,558
58$1,227,771$915,214$835,515$1,158,116
59$1,281,332$888,388$791,833$1,173,807
60$1,338,099$857,990$744,430$1,189,667
61$1,398,327$823,773$693,110$1,205,741
62$1,462,296$785,478$637,669$1,222,083
63$1,530,313$742,829$577,893$1,238,754
64$1,602,711$695,534$513,559$1,255,830
65$1,679,857$643,285$444,433$1,273,396
66$1,762,153$585,756$370,272$1,291,552
67$1,850,038$522,603$290,822$1,310,413
68$1,943,994$453,463$205,816$1,330,112
69$2,044,549$377,950$114,978$1,350,801
70$2,152,281$295,659$18,019$1,372,655
71$2,267,827$206,159$0$1,395,871
72$2,391,884$108,999$0$1,438,912
73$2,525,215$3,699$0$1,489,089
74$2,668,660$0$0$1,542,913
75$2,823,142$0$0$1,632,328
76$2,989,674$0$0$1,729,926
77$3,169,366$0$0$1,835,308
78$3,363,441$0$0$1,949,201
79$3,573,242$0$0$2,072,402
80$3,800,245$0$0$2,205,787
81$4,046,072$0$0$2,350,320
82$4,312,507$0$0$2,507,061
83$4,601,511$0$0$2,677,176
84$4,915,241$0$0$2,861,946
85$5,256,069$0$0$3,062,781
86$5,626,604$0$0$3,281,232
87$6,029,719$0$0$3,519,005
88$6,468,571$0$0$3,777,979
89$6,946,637$0$0$4,060,219
90$7,467,740$0$0$4,367,999
91$8,036,091$0$0$4,703,823
92$8,656,324$0$0$5,070,444
93$9,333,537$0$0$5,470,897
94$10,073,346$0$0$5,908,518
95$10,881,931$0$0$6,386,984
96$11,766,096$0$0$6,910,341
97$12,733,333$0$0$7,483,044
98$13,791,892$0$0$8,110,001
99$14,950,856$0$0$8,796,613
100$16,220,229$0$0$9,548,831