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%15.9%
1 years$77,789$77,097$76,421$75,761$75,116$73,300
2 years$38,510$37,792$37,097$36,423$35,770$33,951
3 years$25,418$24,698$24,004$23,337$22,694$20,929
4 years$18,874$18,155$17,469$16,813$16,185$14,489
5 years$14,948$14,234$13,557$12,914$12,304$10,680
6 years$12,332$11,623$10,956$10,327$9,736$8,186
7 years$10,464$9,761$9,104$8,491$7,918$6,442
8 years$9,063$8,367$7,721$7,123$6,568$5,166
9 years$7,975$7,285$6,650$6,067$5,532$4,202
10 years$7,104$6,421$5,798$5,230$4,713$3,455
11 years$6,393$5,717$5,104$4,551$4,054$2,864
12 years$5,800$5,131$4,530$3,992$3,513$2,391
13 years$5,299$4,637$4,047$3,525$3,063$2,006
14 years$4,870$4,215$3,636$3,129$2,685$1,691
15 years$4,498$3,850$3,283$2,790$2,364$1,431
16 years$4,173$3,533$2,977$2,498$2,089$1,214
17 years$3,887$3,253$2,709$2,245$1,853$1,033
18 years$3,633$3,006$2,473$2,023$1,647$880
19 years$3,406$2,786$2,264$1,828$1,468$752
20 years$3,202$2,589$2,077$1,656$1,312$643
21 years$3,017$2,412$1,911$1,503$1,174$551
22 years$2,850$2,251$1,761$1,366$1,052$472
23 years$2,697$2,105$1,626$1,244$944$405
24 years$2,557$1,973$1,504$1,135$849$348
25 years$2,429$1,851$1,393$1,036$764$299
26 years$2,310$1,740$1,292$948$688$257
27 years$2,201$1,637$1,200$867$620$221
28 years$2,100$1,543$1,115$795$560$190
29 years$2,005$1,456$1,038$729$505$164
30 years$1,918$1,375$967$669$457$141
31 years$1,836$1,299$901$614$413$121
32 years$1,759$1,230$841$564$373$105
33 years$1,687$1,164$785$519$338$90
34 years$1,619$1,104$734$478$306$78
35 years$1,556$1,047$686$440$277$67
36 years$1,496$994$642$405$251$58
37 years$1,440$944$600$373$228$50
38 years$1,386$897$562$344$206$43
39 years$1,336$853$527$317$187$37
40 years$1,288$811$494$292$170$32
41 years$1,242$772$463$270$154$28
42 years$1,199$736$434$249$140$24
43 years$1,158$701$408$230$127$20
44 years$1,119$668$383$212$115$18
45 years$1,082$637$359$196$104$15
46 years$1,047$608$337$181$95$13
47 years$1,013$580$317$167$86$11
48 years$980$554$298$155$78$10
49 years$949$529$280$143$71$8
50 years$920$505$263$132$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $942,000, adding $6,480 every year, while hoping to spend $49,027 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: 35/40/25 Blend
53$942,000$942,000$942,000$942,000
54$1,044,768$994,842$980,241$1,073,247
55$1,099,170$991,425$960,915$1,091,550
56$1,157,478$986,197$939,298$1,106,365
57$1,220,038$979,019$915,262$1,121,380
58$1,287,231$969,740$888,672$1,136,644
59$1,359,475$958,203$859,389$1,152,216
60$1,437,227$944,240$827,264$1,168,165
61$1,520,991$927,675$792,144$1,184,570
62$1,611,319$908,318$753,868$1,201,524
63$1,708,820$885,972$712,269$1,219,135
64$1,814,160$860,425$667,170$1,237,527
65$1,928,072$831,453$618,388$1,256,840
66$2,051,362$798,822$565,731$1,277,239
67$2,184,917$762,280$508,999$1,298,907
68$2,329,710$721,563$447,983$1,322,056
69$2,486,814$676,393$382,463$1,346,925
70$2,657,405$626,472$312,211$1,373,785
71$2,842,779$571,489$236,990$1,402,945
72$3,044,364$511,113$156,550$1,434,750
73$3,263,725$444,994$70,631$1,469,592
74$3,502,591$372,763$0$1,507,913
75$3,762,858$294,032$0$1,555,825
76$4,046,617$208,387$0$1,628,739
77$4,356,168$115,394$0$1,708,499
78$4,694,042$14,593$0$1,795,888
79$5,063,026$0$0$1,891,777
80$5,466,187$0$0$2,038,728
81$5,906,903$0$0$2,206,520
82$6,388,891$0$0$2,390,163
83$6,916,246$0$0$2,591,231
84$7,493,476$0$0$2,811,463
85$8,125,544$0$0$3,052,771
86$8,817,916$0$0$3,317,259
87$9,576,613$0$0$3,607,249
88$10,408,263$0$0$3,925,293
89$11,320,170$0$0$4,274,206
90$12,320,374$0$0$4,657,088
91$13,417,733$0$0$5,077,350
92$14,622,005$0$0$5,538,755
93$15,943,936$0$0$6,045,444
94$17,395,364$0$0$6,601,980
95$18,989,330$0$0$7,213,389
96$20,740,199$0$0$7,885,209
97$22,663,797$0$0$8,623,540
98$24,777,556$0$0$9,435,104
99$27,100,683$0$0$10,327,304
100$29,654,338$0$0$11,308,297