Can I retire at age 54 with 943,000?

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 $943,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$77,872$77,178$76,502$75,841$75,196$73,112
2 years$38,551$37,833$37,137$36,462$35,808$33,723
3 years$25,445$24,724$24,030$23,362$22,718$20,698
4 years$18,894$18,175$17,488$16,831$16,203$14,264
5 years$14,964$14,249$13,571$12,928$12,317$10,464
6 years$12,345$11,636$10,967$10,338$9,746$7,981
7 years$10,475$9,772$9,114$8,500$7,926$6,249
8 years$9,073$8,376$7,729$7,130$6,575$4,985
9 years$7,983$7,293$6,657$6,073$5,537$4,033
10 years$7,112$6,428$5,804$5,235$4,718$3,297
11 years$6,399$5,723$5,110$4,556$4,058$2,718
12 years$5,806$5,136$4,535$3,996$3,516$2,255
13 years$5,305$4,642$4,052$3,528$3,066$1,881
14 years$4,875$4,219$3,640$3,132$2,688$1,576
15 years$4,503$3,854$3,287$2,793$2,367$1,325
16 years$4,178$3,536$2,980$2,501$2,092$1,117
17 years$3,891$3,257$2,712$2,247$1,855$944
18 years$3,637$3,009$2,475$2,025$1,649$799
19 years$3,409$2,789$2,266$1,830$1,470$678
20 years$3,205$2,592$2,080$1,657$1,313$576
21 years$3,020$2,414$1,913$1,504$1,175$490
22 years$2,853$2,254$1,763$1,368$1,053$417
23 years$2,700$2,108$1,628$1,245$945$355
24 years$2,560$1,975$1,505$1,136$850$303
25 years$2,431$1,853$1,394$1,037$765$258
26 years$2,313$1,742$1,293$949$689$221
27 years$2,203$1,639$1,201$868$621$188
28 years$2,102$1,545$1,116$795$560$161
29 years$2,007$1,457$1,039$729$506$137
30 years$1,920$1,376$968$669$457$118
31 years$1,837$1,301$902$615$413$100
32 years$1,761$1,231$842$565$374$86
33 years$1,689$1,166$786$520$338$73
34 years$1,621$1,105$734$478$306$63
35 years$1,558$1,048$687$440$277$54
36 years$1,498$995$642$405$251$46
37 years$1,441$945$601$373$228$39
38 years$1,388$898$563$344$207$34
39 years$1,337$854$527$317$187$29
40 years$1,289$812$494$293$170$25
41 years$1,244$773$464$270$154$21
42 years$1,201$736$435$249$140$18
43 years$1,160$702$408$230$127$15
44 years$1,120$669$383$212$115$13
45 years$1,083$638$360$196$105$11
46 years$1,048$608$338$181$95$10
47 years$1,014$581$317$167$86$8
48 years$981$554$298$155$78$7
49 years$950$529$280$143$71$6
50 years$921$506$263$132$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $943,000, adding $6,850 every year, while hoping to spend $40,951 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: 73/17/10 Blend
53$943,000$943,000$943,000$943,000
54$1,046,252$996,273$981,656$1,120,179
55$1,109,398$1,001,519$970,970$1,175,170
56$1,177,612$1,005,649$958,554$1,229,617
57$1,251,369$1,008,566$944,305$1,288,121
58$1,331,189$1,010,166$928,120$1,351,071
59$1,417,643$1,010,337$909,885$1,418,896
60$1,511,363$1,008,964$889,486$1,492,071
61$1,613,039$1,005,920$866,801$1,571,116
62$1,723,433$1,001,074$841,702$1,656,607
63$1,843,381$994,285$814,058$1,749,180
64$1,973,806$985,404$783,728$1,849,535
65$2,115,719$974,274$750,569$1,958,443
66$2,270,236$960,727$714,426$2,076,756
67$2,438,583$944,586$675,142$2,205,412
68$2,622,110$925,662$632,551$2,345,447
69$2,822,303$903,757$586,479$2,498,004
70$3,040,797$878,660$536,745$2,664,340
71$3,279,391$850,148$483,160$2,845,845
72$3,540,068$817,984$425,525$3,044,051
73$3,825,009$781,919$363,633$3,260,647
74$4,136,615$741,688$297,270$3,497,495
75$4,477,530$697,012$226,209$3,756,650
76$4,850,667$647,594$150,216$4,040,377
77$5,259,232$593,122$69,045$4,351,174
78$5,706,754$533,266$0$4,691,797
79$6,197,123$467,676$0$5,067,160
80$6,734,620$395,983$0$5,486,720
81$7,323,962$317,797$0$5,946,828
82$7,970,343$232,705$0$6,451,588
83$8,679,483$140,273$0$7,005,525
84$9,457,685$40,041$0$7,613,627
85$10,311,890$0$0$8,281,390
86$11,249,743$0$0$9,027,685
87$12,279,668$0$0$9,855,517
88$13,410,943$0$0$10,764,858
89$14,653,788$0$0$11,763,930
90$16,019,464$0$0$12,861,791
91$17,520,374$0$0$14,068,419
92$19,170,186$0$0$15,394,807
93$20,983,955$0$0$16,853,066
94$22,978,267$0$0$18,456,538
95$25,171,400$0$0$20,219,926
96$27,583,486$0$0$22,159,425
97$30,236,710$0$0$24,292,880
98$33,155,513$0$0$26,639,954
99$36,366,827$0$0$29,222,308
100$39,900,322$0$0$32,063,813