Can I retire at age 54 with 945,000?

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 $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%19.4%
1 years$78,037$77,342$76,664$76,002$75,356$72,509
2 years$38,632$37,913$37,215$36,539$35,884$33,049
3 years$25,499$24,776$24,081$23,411$22,766$20,032
4 years$18,934$18,213$17,525$16,866$16,237$13,625
5 years$14,996$14,279$13,600$12,955$12,343$9,859
6 years$12,371$11,660$10,991$10,360$9,767$7,413
7 years$10,497$9,792$9,133$8,518$7,943$5,719
8 years$9,092$8,394$7,746$7,145$6,589$4,493
9 years$8,000$7,308$6,671$6,086$5,549$3,577
10 years$7,127$6,442$5,816$5,246$4,728$2,877
11 years$6,413$5,735$5,121$4,566$4,066$2,332
12 years$5,818$5,147$4,544$4,005$3,524$1,902
13 years$5,316$4,652$4,060$3,536$3,073$1,559
14 years$4,885$4,228$3,648$3,139$2,694$1,282
15 years$4,513$3,863$3,294$2,799$2,372$1,058
16 years$4,187$3,544$2,986$2,506$2,096$876
17 years$3,900$3,264$2,717$2,252$1,859$726
18 years$3,645$3,016$2,481$2,029$1,653$603
19 years$3,417$2,795$2,271$1,834$1,473$502
20 years$3,212$2,597$2,084$1,661$1,316$418
21 years$3,027$2,419$1,917$1,507$1,177$348
22 years$2,859$2,258$1,767$1,370$1,055$290
23 years$2,705$2,112$1,631$1,248$947$242
24 years$2,565$1,979$1,509$1,138$852$202
25 years$2,436$1,857$1,397$1,040$766$169
26 years$2,318$1,745$1,296$951$690$141
27 years$2,208$1,643$1,203$870$622$118
28 years$2,106$1,548$1,119$797$561$99
29 years$2,012$1,460$1,041$731$507$83
30 years$1,924$1,379$970$671$458$69
31 years$1,841$1,304$904$616$414$58
32 years$1,764$1,233$843$566$375$48
33 years$1,692$1,168$788$521$339$41
34 years$1,625$1,107$736$479$307$34
35 years$1,561$1,050$688$441$278$28
36 years$1,501$997$644$406$252$24
37 years$1,444$947$602$374$228$20
38 years$1,391$900$564$345$207$17
39 years$1,340$855$529$318$188$14
40 years$1,292$814$495$293$170$12
41 years$1,246$775$464$271$154$10
42 years$1,203$738$436$250$140$8
43 years$1,162$703$409$231$127$7
44 years$1,123$670$384$213$115$6
45 years$1,085$639$360$197$105$5
46 years$1,050$610$338$182$95$4
47 years$1,016$582$318$168$86$3
48 years$983$555$299$155$78$3
49 years$952$530$281$143$71$2
50 years$923$507$264$132$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $945,000, adding $6,176 every year, while hoping to spend $48,073 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: 56/28/16 Blend
53$945,000$945,000$945,000$945,000
54$1,047,761$997,676$983,028$1,101,699
55$1,103,483$995,412$964,810$1,136,792
56$1,163,278$991,427$944,371$1,169,265
57$1,227,509$985,585$921,585$1,203,547
58$1,296,579$977,741$896,321$1,239,820
59$1,370,925$967,746$868,443$1,278,289
60$1,451,030$955,436$837,807$1,319,181
61$1,537,424$940,642$804,263$1,362,748
62$1,630,690$923,182$767,654$1,409,270
63$1,731,468$902,865$727,817$1,459,060
64$1,840,459$879,487$684,581$1,512,462
65$1,958,438$852,834$637,767$1,569,861
66$2,086,253$822,678$587,187$1,631,685
67$2,224,840$788,778$532,646$1,698,406
68$2,375,225$750,879$473,941$1,770,551
69$2,538,537$708,711$410,857$1,848,701
70$2,716,020$661,991$343,173$1,933,504
71$2,909,041$610,415$270,657$2,025,676
72$3,119,104$553,666$193,064$2,126,013
73$3,347,863$491,406$110,142$2,235,394
74$3,597,140$423,280$21,627$2,354,795
75$3,868,939$348,911$0$2,485,298
76$4,165,465$267,902$0$2,640,533
77$4,489,147$179,833$0$2,814,140
78$4,842,656$84,262$0$3,003,942
79$5,228,935$0$0$3,211,617
80$5,651,223$0$0$3,444,959
81$6,113,086$0$0$3,728,644
82$6,618,451$0$0$4,039,133
83$7,171,640$0$0$4,379,092
84$7,777,415$0$0$4,751,458
85$8,441,018$0$0$5,159,464
86$9,168,223$0$0$5,606,673
87$9,965,390$0$0$6,097,007
88$10,839,520$0$0$6,634,786
89$11,798,329$0$0$7,224,769
90$12,850,310$0$0$7,872,197
91$14,004,824$0$0$8,582,844
92$15,272,176$0$0$9,363,069
93$16,663,723$0$0$10,219,876
94$18,191,972$0$0$11,160,985
95$19,870,702$0$0$12,194,895
96$21,715,091$0$0$13,330,971
97$23,741,861$0$0$14,579,532
98$25,969,435$0$0$15,951,942
99$28,418,108$0$0$17,460,726
100$31,110,238$0$0$19,119,679