Can I retire at age 54 with 944,000?

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 $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%15.7%
1 years$77,955$77,260$76,583$75,922$75,276$73,516
2 years$38,591$37,873$37,176$36,501$35,846$34,082
3 years$25,472$24,750$24,055$23,386$22,742$21,031
4 years$18,914$18,194$17,506$16,849$16,220$14,574
5 years$14,980$14,264$13,586$12,941$12,330$10,754
6 years$12,358$11,648$10,979$10,349$9,756$8,251
7 years$10,486$9,782$9,124$8,509$7,934$6,501
8 years$9,082$8,385$7,738$7,138$6,582$5,220
9 years$7,992$7,301$6,664$6,080$5,543$4,251
10 years$7,119$6,435$5,810$5,241$4,723$3,499
11 years$6,406$5,729$5,115$4,561$4,062$2,905
12 years$5,812$5,142$4,540$4,001$3,520$2,428
13 years$5,310$4,647$4,056$3,532$3,070$2,040
14 years$4,880$4,224$3,644$3,135$2,691$1,722
15 years$4,508$3,858$3,290$2,796$2,369$1,459
16 years$4,182$3,540$2,983$2,504$2,094$1,240
17 years$3,895$3,260$2,714$2,250$1,857$1,056
18 years$3,641$3,013$2,478$2,027$1,651$901
19 years$3,413$2,792$2,268$1,832$1,471$771
20 years$3,208$2,595$2,082$1,659$1,314$660
21 years$3,023$2,417$1,915$1,506$1,176$566
22 years$2,856$2,256$1,765$1,369$1,054$486
23 years$2,703$2,110$1,630$1,247$946$418
24 years$2,562$1,977$1,507$1,137$851$359
25 years$2,434$1,855$1,396$1,039$765$309
26 years$2,315$1,744$1,295$950$689$266
27 years$2,206$1,641$1,202$869$622$230
28 years$2,104$1,546$1,118$796$561$198
29 years$2,010$1,459$1,040$730$506$171
30 years$1,922$1,378$969$670$458$147
31 years$1,839$1,302$903$616$414$127
32 years$1,763$1,232$843$566$374$110
33 years$1,691$1,167$787$520$339$95
34 years$1,623$1,106$735$479$307$82
35 years$1,559$1,049$687$441$278$71
36 years$1,499$996$643$406$252$61
37 years$1,443$946$602$374$228$53
38 years$1,389$899$564$345$207$45
39 years$1,339$855$528$318$188$39
40 years$1,291$813$495$293$170$34
41 years$1,245$774$464$270$154$29
42 years$1,202$737$435$250$140$25
43 years$1,161$702$408$230$127$22
44 years$1,122$669$383$213$115$19
45 years$1,084$638$360$196$105$16
46 years$1,049$609$338$181$95$14
47 years$1,015$581$318$168$86$12
48 years$982$555$298$155$78$11
49 years$951$530$281$143$71$9
50 years$922$506$264$132$65$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $944,000, adding $4,829 every year, while hoping to spend $28,112 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: 38/36/26 Blend
53$944,000$944,000$944,000$944,000
54$1,045,269$995,237$980,605$1,076,732
55$1,121,976$1,014,093$983,544$1,119,036
56$1,205,564$1,032,930$985,640$1,161,778
57$1,296,706$1,051,719$986,834$1,207,424
58$1,396,143$1,070,425$987,065$1,256,256
59$1,504,688$1,089,015$986,270$1,308,584
60$1,623,238$1,107,448$984,382$1,364,751
61$1,752,780$1,125,685$981,331$1,425,137
62$1,894,400$1,143,680$977,042$1,490,159
63$2,049,295$1,161,386$971,439$1,560,280
64$2,218,781$1,178,753$964,441$1,636,010
65$2,404,310$1,195,724$955,962$1,717,915
66$2,607,478$1,212,243$945,915$1,806,615
67$2,830,043$1,228,246$934,206$1,902,800
68$3,073,944$1,243,666$920,738$2,007,229
69$3,341,312$1,258,431$905,408$2,120,740
70$3,634,497$1,272,466$888,111$2,244,261
71$3,956,087$1,285,688$868,734$2,378,814
72$4,308,931$1,298,010$847,160$2,525,528
73$4,696,169$1,309,339$823,267$2,685,650
74$5,121,259$1,319,577$796,927$2,860,556
75$5,588,009$1,328,619$768,006$3,051,766
76$6,100,616$1,336,351$736,364$3,260,957
77$6,663,702$1,342,655$701,855$3,489,981
78$7,282,358$1,347,404$664,326$3,740,880
79$7,962,195$1,350,463$623,617$4,015,909
80$8,709,392$1,351,689$579,561$4,317,559
81$9,530,756$1,350,928$531,983$4,648,575
82$10,433,790$1,348,020$480,701$5,011,989
83$11,426,757$1,342,793$425,524$5,411,145
84$12,518,760$1,335,064$366,254$5,849,733
85$13,719,832$1,324,641$302,682$6,331,826
86$15,041,025$1,311,318$234,591$6,861,916
87$16,494,514$1,294,878$161,755$7,444,960
88$18,093,718$1,275,090$83,937$8,086,425
89$19,853,419$1,251,711$891$8,792,343
90$21,789,904$1,224,481$0$9,569,369
91$23,921,121$1,193,128$0$10,449,182
92$26,266,845$1,157,361$0$11,417,384
93$28,848,865$1,116,873$0$12,482,737
94$31,691,188$1,071,339$0$13,655,169
95$34,820,271$1,020,415$0$14,945,630
96$38,265,262$963,739$0$16,366,188
97$42,058,282$900,926$0$17,930,148
98$46,234,723$831,568$0$19,652,177
99$50,833,587$755,237$0$21,548,443
100$55,897,846$671,477$0$23,636,771