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%18%
1 years$77,955$77,260$76,583$75,922$75,276$72,837
2 years$38,591$37,873$37,176$36,501$35,846$33,412
3 years$25,472$24,750$24,055$23,386$22,742$20,389
4 years$18,914$18,194$17,506$16,849$16,220$13,966
5 years$14,980$14,264$13,586$12,941$12,330$10,181
6 years$12,358$11,648$10,979$10,349$9,756$7,714
7 years$10,486$9,782$9,124$8,509$7,934$5,999
8 years$9,082$8,385$7,738$7,138$6,582$4,752
9 years$7,992$7,301$6,664$6,080$5,543$3,816
10 years$7,119$6,435$5,810$5,241$4,723$3,097
11 years$6,406$5,729$5,115$4,561$4,062$2,533
12 years$5,812$5,142$4,540$4,001$3,520$2,085
13 years$5,310$4,647$4,056$3,532$3,070$1,725
14 years$4,880$4,224$3,644$3,135$2,691$1,433
15 years$4,508$3,858$3,290$2,796$2,369$1,195
16 years$4,182$3,540$2,983$2,504$2,094$999
17 years$3,895$3,260$2,714$2,250$1,857$837
18 years$3,641$3,013$2,478$2,027$1,651$702
19 years$3,413$2,792$2,268$1,832$1,471$590
20 years$3,208$2,595$2,082$1,659$1,314$497
21 years$3,023$2,417$1,915$1,506$1,176$419
22 years$2,856$2,256$1,765$1,369$1,054$353
23 years$2,703$2,110$1,630$1,247$946$298
24 years$2,562$1,977$1,507$1,137$851$252
25 years$2,434$1,855$1,396$1,039$765$213
26 years$2,315$1,744$1,295$950$689$180
27 years$2,206$1,641$1,202$869$622$152
28 years$2,104$1,546$1,118$796$561$129
29 years$2,010$1,459$1,040$730$506$109
30 years$1,922$1,378$969$670$458$92
31 years$1,839$1,302$903$616$414$78
32 years$1,763$1,232$843$566$374$66
33 years$1,691$1,167$787$520$339$56
34 years$1,623$1,106$735$479$307$47
35 years$1,559$1,049$687$441$278$40
36 years$1,499$996$643$406$252$34
37 years$1,443$946$602$374$228$29
38 years$1,389$899$564$345$207$24
39 years$1,339$855$528$318$188$21
40 years$1,291$813$495$293$170$17
41 years$1,245$774$464$270$154$15
42 years$1,202$737$435$250$140$13
43 years$1,161$702$408$230$127$11
44 years$1,122$669$383$213$115$9
45 years$1,084$638$360$196$105$8
46 years$1,049$609$338$181$95$6
47 years$1,015$581$318$168$86$5
48 years$982$555$298$155$78$5
49 years$951$530$281$143$71$4
50 years$922$506$264$132$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $944,000, adding $6,381 every year, while hoping to spend $46,716 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: 64/26/10 Blend
53$944,000$944,000$944,000$944,000
54$1,046,870$996,838$982,206$1,111,189
55$1,103,945$995,978$965,404$1,154,053
56$1,165,277$993,509$946,474$1,194,806
57$1,231,248$989,305$925,295$1,238,131
58$1,302,284$983,229$901,740$1,284,274
59$1,378,846$975,137$875,678$1,333,511
60$1,461,445$964,875$846,970$1,386,146
61$1,550,641$952,283$815,472$1,442,513
62$1,647,049$937,187$781,033$1,502,984
63$1,751,346$919,407$743,495$1,567,972
64$1,864,274$898,748$702,693$1,637,930
65$1,986,650$875,008$658,454$1,713,361
66$2,119,374$847,969$610,598$1,794,822
67$2,263,434$817,403$558,936$1,882,927
68$2,419,916$783,067$503,272$1,978,358
69$2,590,016$744,706$443,401$2,081,867
70$2,775,049$702,048$379,106$2,194,284
71$2,976,463$654,807$310,164$2,316,530
72$3,195,849$602,679$236,342$2,449,621
73$3,434,959$545,344$157,393$2,594,680
74$3,695,722$482,464$73,063$2,752,948
75$3,980,261$413,680$0$2,925,798
76$4,290,912$338,614$0$3,116,552
77$4,630,245$256,866$0$3,333,516
78$5,001,093$168,016$0$3,570,766
79$5,406,573$71,616$0$3,830,380
80$5,850,115$0$0$4,114,650
81$6,335,499$0$0$4,435,490
82$6,866,885$0$0$4,809,232
83$7,448,855$0$0$5,218,618
84$8,086,455$0$0$5,667,205
85$8,785,241$0$0$6,158,911
86$9,551,334$0$0$6,698,050
87$10,391,472$0$0$7,289,377
88$11,313,081$0$0$7,938,124
89$12,324,337$0$0$8,650,058
90$13,434,247$0$0$9,431,531
91$14,652,732$0$0$10,289,537
92$15,990,720$0$0$11,231,784
93$17,460,250$0$0$12,266,761
94$19,074,584$0$0$13,403,819
95$20,848,332$0$0$14,653,261
96$22,797,589$0$0$16,026,438
97$24,940,086$0$0$17,535,852
98$27,295,358$0$0$19,195,281
99$29,884,926$0$0$21,019,900
100$32,732,501$0$0$23,026,432