Can I retire at age 54 with 942,000?

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 $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%17.4%
1 years$77,789$77,097$76,421$75,761$75,116$72,858
2 years$38,510$37,792$37,097$36,423$35,770$33,513
3 years$25,418$24,698$24,004$23,337$22,694$20,510
4 years$18,874$18,155$17,469$16,813$16,185$14,091
5 years$14,948$14,234$13,557$12,914$12,304$10,305
6 years$12,332$11,623$10,956$10,327$9,736$7,834
7 years$10,464$9,761$9,104$8,491$7,918$6,113
8 years$9,063$8,367$7,721$7,123$6,568$4,860
9 years$7,975$7,285$6,650$6,067$5,532$3,917
10 years$7,104$6,421$5,798$5,230$4,713$3,190
11 years$6,393$5,717$5,104$4,551$4,054$2,620
12 years$5,800$5,131$4,530$3,992$3,513$2,165
13 years$5,299$4,637$4,047$3,525$3,063$1,799
14 years$4,870$4,215$3,636$3,129$2,685$1,501
15 years$4,498$3,850$3,283$2,790$2,364$1,256
16 years$4,173$3,533$2,977$2,498$2,089$1,054
17 years$3,887$3,253$2,709$2,245$1,853$887
18 years$3,633$3,006$2,473$2,023$1,647$748
19 years$3,406$2,786$2,264$1,828$1,468$632
20 years$3,202$2,589$2,077$1,656$1,312$534
21 years$3,017$2,412$1,911$1,503$1,174$452
22 years$2,850$2,251$1,761$1,366$1,052$383
23 years$2,697$2,105$1,626$1,244$944$325
24 years$2,557$1,973$1,504$1,135$849$276
25 years$2,429$1,851$1,393$1,036$764$234
26 years$2,310$1,740$1,292$948$688$199
27 years$2,201$1,637$1,200$867$620$169
28 years$2,100$1,543$1,115$795$560$144
29 years$2,005$1,456$1,038$729$505$122
30 years$1,918$1,375$967$669$457$104
31 years$1,836$1,299$901$614$413$88
32 years$1,759$1,230$841$564$373$75
33 years$1,687$1,164$785$519$338$64
34 years$1,619$1,104$734$478$306$54
35 years$1,556$1,047$686$440$277$46
36 years$1,496$994$642$405$251$39
37 years$1,440$944$600$373$228$34
38 years$1,386$897$562$344$206$29
39 years$1,336$853$527$317$187$24
40 years$1,288$811$494$292$170$21
41 years$1,242$772$463$270$154$18
42 years$1,199$736$434$249$140$15
43 years$1,158$701$408$230$127$13
44 years$1,119$668$383$212$115$11
45 years$1,082$637$359$196$104$9
46 years$1,047$608$337$181$95$8
47 years$1,013$580$317$167$86$7
48 years$980$554$298$155$78$6
49 years$949$529$280$143$71$5
50 years$920$505$263$132$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $942,000, adding $6,321 every year, while hoping to spend $21,350 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: 50/36/14 Blend
53$942,000$942,000$942,000$942,000
54$1,044,604$994,678$980,077$1,092,536
55$1,128,437$1,020,701$990,193$1,152,163
56$1,220,106$1,047,284$999,933$1,214,173
57$1,320,387$1,074,431$1,009,261$1,281,084
58$1,430,136$1,102,147$1,018,140$1,353,362
59$1,550,293$1,130,435$1,026,531$1,431,523
60$1,681,896$1,159,300$1,034,393$1,516,134
61$1,826,087$1,188,743$1,041,683$1,607,819
62$1,984,124$1,218,767$1,048,355$1,707,264
63$2,157,391$1,249,374$1,054,362$1,815,227
64$2,347,415$1,280,563$1,059,653$1,932,541
65$2,555,875$1,312,334$1,064,175$2,060,124
66$2,784,622$1,344,687$1,067,873$2,198,988
67$3,035,695$1,377,618$1,070,688$2,350,246
68$3,311,339$1,411,124$1,072,560$2,515,127
69$3,614,029$1,445,202$1,073,423$2,694,981
70$3,946,487$1,479,845$1,073,210$2,891,298
71$4,311,717$1,515,045$1,071,851$3,105,720
72$4,713,026$1,550,796$1,069,271$3,340,055
73$5,154,055$1,587,085$1,065,393$3,596,294
74$5,638,819$1,623,903$1,060,133$3,876,633
75$6,171,738$1,661,234$1,053,408$4,183,492
76$6,757,686$1,699,065$1,045,127$4,519,534
77$7,402,027$1,737,376$1,035,196$4,887,698
78$8,110,675$1,776,149$1,023,517$5,291,219
79$8,890,145$1,815,362$1,009,986$5,733,665
80$9,747,615$1,854,989$994,495$6,218,965
81$10,690,993$1,895,005$976,932$6,751,450
82$11,728,993$1,935,379$957,178$7,335,894
83$12,871,215$1,976,078$935,109$7,977,556
84$14,128,240$2,017,066$910,595$8,682,234
85$15,511,721$2,058,303$883,501$9,456,314
86$17,034,504$2,099,747$853,686$10,306,837
87$18,710,738$2,141,350$820,999$11,241,561
88$20,556,019$2,183,061$785,288$12,269,036
89$22,587,526$2,224,824$746,388$13,398,686
90$24,824,193$2,266,580$704,132$14,640,895
91$27,286,882$2,308,264$658,341$16,007,108
92$29,998,579$2,349,804$608,831$17,509,937
93$32,984,616$2,391,126$555,408$19,163,283
94$36,272,902$2,432,147$497,870$20,982,466
95$39,894,196$2,472,779$436,006$22,984,367
96$43,882,387$2,512,929$369,596$25,187,595
97$48,274,822$2,552,493$298,408$27,612,655
98$53,112,652$2,591,364$222,204$30,282,146
99$58,441,226$2,629,425$140,731$33,220,974
100$64,310,514$2,666,549$53,728$36,456,588