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%12.2%
1 years$77,789$77,097$76,421$75,761$75,116$74,425
2 years$38,510$37,792$37,097$36,423$35,770$35,073
3 years$25,418$24,698$24,004$23,337$22,694$22,013
4 years$18,874$18,155$17,469$16,813$16,185$15,527
5 years$14,948$14,234$13,557$12,914$12,304$11,669
6 years$12,332$11,623$10,956$10,327$9,736$9,125
7 years$10,464$9,761$9,104$8,491$7,918$7,332
8 years$9,063$8,367$7,721$7,123$6,568$6,007
9 years$7,975$7,285$6,650$6,067$5,532$4,995
10 years$7,104$6,421$5,798$5,230$4,713$4,200
11 years$6,393$5,717$5,104$4,551$4,054$3,564
12 years$5,800$5,131$4,530$3,992$3,513$3,047
13 years$5,299$4,637$4,047$3,525$3,063$2,620
14 years$4,870$4,215$3,636$3,129$2,685$2,264
15 years$4,498$3,850$3,283$2,790$2,364$1,964
16 years$4,173$3,533$2,977$2,498$2,089$1,711
17 years$3,887$3,253$2,709$2,245$1,853$1,494
18 years$3,633$3,006$2,473$2,023$1,647$1,308
19 years$3,406$2,786$2,264$1,828$1,468$1,148
20 years$3,202$2,589$2,077$1,656$1,312$1,009
21 years$3,017$2,412$1,911$1,503$1,174$889
22 years$2,850$2,251$1,761$1,366$1,052$784
23 years$2,697$2,105$1,626$1,244$944$692
24 years$2,557$1,973$1,504$1,135$849$612
25 years$2,429$1,851$1,393$1,036$764$541
26 years$2,310$1,740$1,292$948$688$479
27 years$2,201$1,637$1,200$867$620$425
28 years$2,100$1,543$1,115$795$560$377
29 years$2,005$1,456$1,038$729$505$334
30 years$1,918$1,375$967$669$457$297
31 years$1,836$1,299$901$614$413$263
32 years$1,759$1,230$841$564$373$234
33 years$1,687$1,164$785$519$338$208
34 years$1,619$1,104$734$478$306$185
35 years$1,556$1,047$686$440$277$164
36 years$1,496$994$642$405$251$146
37 years$1,440$944$600$373$228$130
38 years$1,386$897$562$344$206$116
39 years$1,336$853$527$317$187$103
40 years$1,288$811$494$292$170$92
41 years$1,242$772$463$270$154$82
42 years$1,199$736$434$249$140$73
43 years$1,158$701$408$230$127$65
44 years$1,119$668$383$212$115$58
45 years$1,082$637$359$196$104$51
46 years$1,047$608$337$181$95$46
47 years$1,013$580$317$167$86$41
48 years$980$554$298$155$78$36
49 years$949$529$280$143$71$32
50 years$920$505$263$132$65$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $942,000, adding $5,026 every year, while hoping to spend $38,470 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: 27/50/23 Blend
53$942,000$942,000$942,000$942,000
54$1,043,268$993,342$978,741$1,063,764
55$1,108,750$1,001,084$970,597$1,088,127
56$1,179,621$1,007,916$960,891$1,110,568
57$1,256,392$1,013,753$949,530$1,133,850
58$1,339,621$1,018,504$936,416$1,158,071
59$1,429,924$1,022,073$921,448$1,183,338
60$1,527,978$1,024,357$904,519$1,209,774
61$1,634,529$1,025,247$885,517$1,237,517
62$1,750,394$1,024,628$864,326$1,266,722
63$1,876,476$1,022,376$840,822$1,297,565
64$2,013,766$1,018,362$814,879$1,330,240
65$2,163,355$1,012,446$786,362$1,364,969
66$2,326,444$1,004,482$755,132$1,401,999
67$2,504,354$994,315$721,042$1,441,607
68$2,698,540$981,779$683,939$1,484,102
69$2,910,604$966,699$643,664$1,529,832
70$3,142,308$948,889$600,049$1,579,183
71$3,395,593$928,154$552,919$1,632,590
72$3,672,595$904,285$502,094$1,690,535
73$3,975,666$877,062$447,381$1,753,557
74$4,307,398$846,251$388,582$1,822,258
75$4,670,642$811,607$325,488$1,897,308
76$5,068,539$772,868$257,884$1,979,453
77$5,504,549$729,757$185,542$2,069,524
78$5,982,481$681,983$108,226$2,168,444
79$6,506,531$629,237$25,688$2,277,242
80$7,081,319$571,192$0$2,397,060
81$7,711,937$507,504$0$2,544,481
82$8,403,989$437,807$0$2,713,324
83$9,163,653$361,715$0$2,898,914
84$9,997,729$278,823$0$3,103,061
85$10,913,712$188,700$0$3,327,769
86$11,919,855$90,891$0$3,575,255
87$13,025,253$0$0$3,847,971
88$14,239,923$0$0$4,156,933
89$15,574,902$0$0$4,551,622
90$17,042,347$0$0$4,985,646
91$18,655,654$0$0$5,462,987
92$20,429,581$0$0$5,988,035
93$22,380,386$0$0$6,565,624
94$24,525,983$0$0$7,201,082
95$26,886,109$0$0$7,900,278
96$29,482,510$0$0$8,669,680
97$32,339,146$0$0$9,516,413
98$35,482,415$0$0$10,448,329
99$38,941,405$0$0$11,474,080
100$42,748,166$0$0$12,603,198