Can I retire at age 54 with 946,000?

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 $946,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$78,120$77,424$76,745$76,082$75,435$73,882
2 years$38,673$37,953$37,255$36,578$35,922$34,364
3 years$25,526$24,803$24,106$23,436$22,790$21,276
4 years$18,954$18,233$17,543$16,884$16,254$14,796
5 years$15,011$14,295$13,614$12,969$12,356$10,958
6 years$12,384$11,673$11,002$10,371$9,777$8,440
7 years$10,508$9,803$9,143$8,527$7,951$6,676
8 years$9,102$8,403$7,754$7,153$6,596$5,382
9 years$8,008$7,316$6,679$6,093$5,555$4,401
10 years$7,134$6,449$5,822$5,252$4,733$3,639
11 years$6,420$5,741$5,126$4,571$4,071$3,034
12 years$5,825$5,153$4,549$4,009$3,528$2,548
13 years$5,321$4,657$4,064$3,539$3,076$2,151
14 years$4,890$4,233$3,652$3,142$2,697$1,824
15 years$4,517$3,867$3,297$2,802$2,374$1,553
16 years$4,191$3,548$2,989$2,509$2,098$1,326
17 years$3,904$3,267$2,720$2,254$1,861$1,135
18 years$3,648$3,019$2,483$2,032$1,654$974
19 years$3,420$2,798$2,273$1,836$1,475$838
20 years$3,215$2,600$2,086$1,663$1,317$721
21 years$3,030$2,422$1,919$1,509$1,179$622
22 years$2,862$2,261$1,769$1,372$1,056$537
23 years$2,708$2,114$1,633$1,249$948$464
24 years$2,568$1,981$1,510$1,140$852$401
25 years$2,439$1,859$1,399$1,041$767$347
26 years$2,320$1,747$1,297$952$691$301
27 years$2,210$1,644$1,205$871$623$261
28 years$2,108$1,549$1,120$798$562$226
29 years$2,014$1,462$1,042$732$508$196
30 years$1,926$1,380$971$672$459$170
31 years$1,843$1,305$905$617$415$147
32 years$1,766$1,235$844$567$375$128
33 years$1,694$1,169$788$521$339$111
34 years$1,626$1,108$737$480$307$97
35 years$1,563$1,051$689$442$278$84
36 years$1,502$998$644$407$252$73
37 years$1,446$948$603$375$229$63
38 years$1,392$901$565$345$207$55
39 years$1,341$856$529$318$188$48
40 years$1,293$815$496$294$170$42
41 years$1,248$776$465$271$155$36
42 years$1,204$739$436$250$140$31
43 years$1,163$704$409$231$127$27
44 years$1,124$671$384$213$116$24
45 years$1,087$640$361$197$105$21
46 years$1,051$610$339$182$95$18
47 years$1,017$582$318$168$87$16
48 years$984$556$299$155$79$14
49 years$953$531$281$143$71$12
50 years$924$507$264$133$65$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $946,000, adding $5,033 every year, while hoping to spend $36,964 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: 41/35/24 Blend
53$946,000$946,000$946,000$946,000
54$1,047,684$997,546$982,883$1,083,060
55$1,115,218$1,007,096$976,480$1,118,474
56$1,188,402$1,015,875$968,623$1,152,898
57$1,267,773$1,023,807$959,226$1,189,426
58$1,353,921$1,030,809$948,196$1,228,273
59$1,447,497$1,036,795$935,436$1,269,677
60$1,549,215$1,041,671$920,847$1,313,900
61$1,659,862$1,045,340$904,322$1,361,238
62$1,780,302$1,047,696$885,752$1,412,014
63$1,911,488$1,048,628$865,019$1,466,590
64$2,054,468$1,048,019$842,005$1,525,365
65$2,210,393$1,045,741$816,582$1,588,783
66$2,380,534$1,041,663$788,618$1,657,335
67$2,566,286$1,035,643$757,975$1,731,567
68$2,769,188$1,027,529$724,507$1,812,083
69$2,990,931$1,017,165$688,064$1,899,550
70$3,233,380$1,004,380$648,488$1,994,711
71$3,498,586$988,995$605,614$2,098,386
72$3,788,808$970,822$559,268$2,211,482
73$4,106,533$949,660$509,271$2,335,007
74$4,454,502$925,295$455,434$2,470,072
75$4,835,730$897,504$397,560$2,617,909
76$5,253,540$866,047$335,443$2,779,881
77$5,711,590$830,672$268,869$2,957,496
78$6,213,910$791,113$197,615$3,152,421
79$6,764,939$747,087$121,445$3,366,499
80$7,369,564$698,296$40,115$3,601,769
81$8,033,172$644,425$0$3,860,485
82$8,761,692$585,139$0$4,157,093
83$9,561,660$520,085$0$4,494,131
84$10,440,272$448,892$0$4,864,433
85$11,405,456$371,165$0$5,271,434
86$12,465,949$286,488$0$5,718,928
87$13,631,371$194,422$0$6,211,100
88$14,912,325$94,502$0$6,752,570
89$16,320,488$0$0$7,348,433
90$17,868,727$0$0$8,009,613
91$19,571,219$0$0$8,776,822
92$21,443,581$0$0$9,620,718
93$23,503,021$0$0$10,549,075
94$25,768,499$0$0$11,570,456
95$28,260,902$0$0$12,694,297
96$31,003,247$0$0$13,930,995
97$34,020,892$0$0$15,292,006
98$37,341,780$0$0$16,789,951
99$40,996,697$0$0$18,438,739
100$45,019,567$0$0$20,253,693