Can I retire at age 54 with 945,000?

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 $945,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$78,037$77,342$76,664$76,002$75,356$73,178
2 years$38,632$37,913$37,215$36,539$35,884$33,707
3 years$25,499$24,776$24,081$23,411$22,766$20,659
4 years$18,934$18,213$17,525$16,866$16,237$14,215
5 years$14,996$14,279$13,600$12,955$12,343$10,412
6 years$12,371$11,660$10,991$10,360$9,767$7,928
7 years$10,497$9,792$9,133$8,518$7,943$6,197
8 years$9,092$8,394$7,746$7,145$6,589$4,935
9 years$8,000$7,308$6,671$6,086$5,549$3,985
10 years$7,127$6,442$5,816$5,246$4,728$3,252
11 years$6,413$5,735$5,121$4,566$4,066$2,675
12 years$5,818$5,147$4,544$4,005$3,524$2,216
13 years$5,316$4,652$4,060$3,536$3,073$1,844
14 years$4,885$4,228$3,648$3,139$2,694$1,542
15 years$4,513$3,863$3,294$2,799$2,372$1,293
16 years$4,187$3,544$2,986$2,506$2,096$1,088
17 years$3,900$3,264$2,717$2,252$1,859$918
18 years$3,645$3,016$2,481$2,029$1,653$775
19 years$3,417$2,795$2,271$1,834$1,473$656
20 years$3,212$2,597$2,084$1,661$1,316$556
21 years$3,027$2,419$1,917$1,507$1,177$472
22 years$2,859$2,258$1,767$1,370$1,055$401
23 years$2,705$2,112$1,631$1,248$947$341
24 years$2,565$1,979$1,509$1,138$852$290
25 years$2,436$1,857$1,397$1,040$766$247
26 years$2,318$1,745$1,296$951$690$210
27 years$2,208$1,643$1,203$870$622$179
28 years$2,106$1,548$1,119$797$561$152
29 years$2,012$1,460$1,041$731$507$130
30 years$1,924$1,379$970$671$458$111
31 years$1,841$1,304$904$616$414$94
32 years$1,764$1,233$843$566$375$81
33 years$1,692$1,168$788$521$339$69
34 years$1,625$1,107$736$479$307$59
35 years$1,561$1,050$688$441$278$50
36 years$1,501$997$644$406$252$43
37 years$1,444$947$602$374$228$36
38 years$1,391$900$564$345$207$31
39 years$1,340$855$529$318$188$27
40 years$1,292$814$495$293$170$23
41 years$1,246$775$464$271$154$19
42 years$1,203$738$436$250$140$17
43 years$1,162$703$409$231$127$14
44 years$1,123$670$384$213$115$12
45 years$1,085$639$360$197$105$10
46 years$1,050$610$338$182$95$9
47 years$1,016$582$318$168$86$8
48 years$983$555$299$155$78$6
49 years$952$530$281$143$71$5
50 years$923$507$264$132$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $945,000, adding $5,799 every year, while hoping to spend $39,874 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: 80/5/15 Blend
53$945,000$945,000$945,000$945,000
54$1,047,372$997,287$982,639$1,127,471
55$1,111,778$1,003,728$973,132$1,187,428
56$1,181,417$1,009,149$961,970$1,247,495
57$1,256,781$1,013,456$949,055$1,312,282
58$1,338,411$1,016,553$934,286$1,382,246
59$1,426,899$1,018,335$917,556$1,457,888
60$1,522,901$1,018,692$898,752$1,539,762
61$1,627,134$1,017,505$877,757$1,628,476
62$1,740,389$1,014,650$854,450$1,724,702
63$1,863,536$1,009,995$828,701$1,829,180
64$1,997,531$1,003,399$800,377$1,942,726
65$2,143,427$994,714$769,337$2,066,238
66$2,302,382$983,780$735,435$2,200,706
67$2,475,671$970,431$698,518$2,347,221
68$2,664,696$954,489$658,425$2,506,987
69$2,871,001$935,765$614,989$2,681,328
70$3,096,287$914,061$568,034$2,871,706
71$3,342,424$889,166$517,379$3,079,731
72$3,611,471$860,855$462,832$3,307,178
73$3,905,698$828,893$404,193$3,556,003
74$4,227,600$793,030$341,254$3,828,362
75$4,579,926$753,000$273,798$4,126,630
76$4,965,706$708,524$201,596$4,453,429
77$5,388,271$659,305$124,413$4,811,644
78$5,851,294$605,030$42,001$5,204,458
79$6,358,818$545,369$0$5,635,378
80$6,915,296$479,971$0$6,115,624
81$7,525,634$408,466$0$6,649,756
82$8,195,232$330,465$0$7,235,786
83$8,930,042$245,554$0$7,878,937
84$9,736,618$153,298$0$8,584,965
85$10,622,180$53,236$0$9,360,212
86$11,594,680$0$0$10,211,661
87$12,662,880$0$0$11,150,043
88$13,836,431$0$0$12,184,219
89$15,125,966$0$0$13,320,632
90$16,543,196$0$0$14,569,609
91$18,101,027$0$0$15,942,524
92$19,813,676$0$0$17,451,912
93$21,696,804$0$0$19,111,579
94$23,767,669$0$0$20,936,739
95$26,045,282$0$0$22,944,152
96$28,550,591$0$0$25,152,286
97$31,306,675$0$0$27,581,485
98$34,338,964$0$0$30,254,169
99$37,675,474$0$0$33,195,036
100$41,347,078$0$0$36,431,303