Can I retire at age 54 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$77,955$77,260$76,583$75,922$75,276$73,907
2 years$38,591$37,873$37,176$36,501$35,846$34,472
3 years$25,472$24,750$24,055$23,386$22,742$21,405
4 years$18,914$18,194$17,506$16,849$16,220$14,931
5 years$14,980$14,264$13,586$12,941$12,330$11,093
6 years$12,358$11,648$10,979$10,349$9,756$8,572
7 years$10,486$9,782$9,124$8,509$7,934$6,803
8 years$9,082$8,385$7,738$7,138$6,582$5,504
9 years$7,992$7,301$6,664$6,080$5,543$4,517
10 years$7,119$6,435$5,810$5,241$4,723$3,748
11 years$6,406$5,729$5,115$4,561$4,062$3,137
12 years$5,812$5,142$4,540$4,001$3,520$2,644
13 years$5,310$4,647$4,056$3,532$3,070$2,241
14 years$4,880$4,224$3,644$3,135$2,691$1,909
15 years$4,508$3,858$3,290$2,796$2,369$1,632
16 years$4,182$3,540$2,983$2,504$2,094$1,399
17 years$3,895$3,260$2,714$2,250$1,857$1,203
18 years$3,641$3,013$2,478$2,027$1,651$1,037
19 years$3,413$2,792$2,268$1,832$1,471$895
20 years$3,208$2,595$2,082$1,659$1,314$775
21 years$3,023$2,417$1,915$1,506$1,176$671
22 years$2,856$2,256$1,765$1,369$1,054$582
23 years$2,703$2,110$1,630$1,247$946$505
24 years$2,562$1,977$1,507$1,137$851$439
25 years$2,434$1,855$1,396$1,039$765$382
26 years$2,315$1,744$1,295$950$689$332
27 years$2,206$1,641$1,202$869$622$289
28 years$2,104$1,546$1,118$796$561$252
29 years$2,010$1,459$1,040$730$506$220
30 years$1,922$1,378$969$670$458$191
31 years$1,839$1,302$903$616$414$167
32 years$1,763$1,232$843$566$374$146
33 years$1,691$1,167$787$520$339$127
34 years$1,623$1,106$735$479$307$111
35 years$1,559$1,049$687$441$278$97
36 years$1,499$996$643$406$252$85
37 years$1,443$946$602$374$228$74
38 years$1,389$899$564$345$207$64
39 years$1,339$855$528$318$188$56
40 years$1,291$813$495$293$170$49
41 years$1,245$774$464$270$154$43
42 years$1,202$737$435$250$140$38
43 years$1,161$702$408$230$127$33
44 years$1,122$669$383$213$115$29
45 years$1,084$638$360$196$105$25
46 years$1,049$609$338$181$95$22
47 years$1,015$581$318$168$86$19
48 years$982$555$298$155$78$17
49 years$951$530$281$143$71$15
50 years$922$506$264$132$65$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $944,000, adding $4,326 every year, while hoping to spend $50,901 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: 38/40/22 Blend
53$944,000$944,000$944,000$944,000
54$1,044,750$994,718$980,086$1,077,432
55$1,097,157$989,301$958,761$1,096,109
56$1,153,202$981,913$935,015$1,111,192
57$1,213,205$972,402$908,714$1,126,464
58$1,277,513$960,611$879,717$1,141,972
59$1,346,507$946,369$847,876$1,157,772
60$1,420,608$929,499$813,037$1,173,929
61$1,500,276$909,809$775,039$1,190,520
62$1,586,014$887,100$733,713$1,207,634
63$1,678,378$861,159$688,883$1,225,373
64$1,777,977$831,760$640,364$1,243,857
65$1,885,479$798,665$587,966$1,263,223
66$2,001,620$761,622$531,485$1,283,626
67$2,127,209$720,364$470,713$1,305,246
68$2,263,132$674,610$405,429$1,328,285
69$2,410,366$624,060$335,406$1,352,977
70$2,569,984$568,400$260,403$1,379,584
71$2,743,167$507,297$180,171$1,408,403
72$2,931,213$440,397$94,449$1,439,771
73$3,135,549$367,328$2,966$1,474,069
74$3,357,745$287,698$0$1,511,724
75$3,599,531$201,091$0$1,575,439
76$3,862,806$107,067$0$1,645,723
77$4,149,663$5,165$0$1,722,560
78$4,462,405$0$0$1,806,709
79$4,803,564$0$0$1,945,276
80$5,175,931$0$0$2,099,121
81$5,582,575$0$0$2,267,254
82$6,026,875$0$0$2,451,088
83$6,512,553$0$0$2,652,180
84$7,043,705$0$0$2,872,242
85$7,624,840$0$0$3,113,161
86$8,260,926$0$0$3,377,014
87$8,957,430$0$0$3,666,088
88$9,720,375$0$0$3,982,904
89$10,556,394$0$0$4,330,236
90$11,472,789$0$0$4,711,139
91$12,477,605$0$0$5,128,980
92$13,579,702$0$0$5,587,466
93$14,788,839$0$0$6,090,680
94$16,115,763$0$0$6,643,121
95$17,572,316$0$0$7,249,743
96$19,171,538$0$0$7,916,005
97$20,927,797$0$0$8,647,919
98$22,856,918$0$0$9,452,110
99$24,976,336$0$0$10,335,875
100$27,305,257$0$0$11,307,252