Can I retire at age 54 with 946,000?

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 $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%11.6%
1 years$78,120$77,424$76,745$76,082$75,435$74,929
2 years$38,673$37,953$37,255$36,578$35,922$35,410
3 years$25,526$24,803$24,106$23,436$22,790$22,291
4 years$18,954$18,233$17,543$16,884$16,254$15,770
5 years$15,011$14,295$13,614$12,969$12,356$11,889
6 years$12,384$11,673$11,002$10,371$9,777$9,327
7 years$10,508$9,803$9,143$8,527$7,951$7,519
8 years$9,102$8,403$7,754$7,153$6,596$6,181
9 years$8,008$7,316$6,679$6,093$5,555$5,158
10 years$7,134$6,449$5,822$5,252$4,733$4,353
11 years$6,420$5,741$5,126$4,571$4,071$3,708
12 years$5,825$5,153$4,549$4,009$3,528$3,181
13 years$5,321$4,657$4,064$3,539$3,076$2,746
14 years$4,890$4,233$3,652$3,142$2,697$2,382
15 years$4,517$3,867$3,297$2,802$2,374$2,076
16 years$4,191$3,548$2,989$2,509$2,098$1,815
17 years$3,904$3,267$2,720$2,254$1,861$1,592
18 years$3,648$3,019$2,483$2,032$1,654$1,400
19 years$3,420$2,798$2,273$1,836$1,475$1,233
20 years$3,215$2,600$2,086$1,663$1,317$1,089
21 years$3,030$2,422$1,919$1,509$1,179$963
22 years$2,862$2,261$1,769$1,372$1,056$853
23 years$2,708$2,114$1,633$1,249$948$757
24 years$2,568$1,981$1,510$1,140$852$672
25 years$2,439$1,859$1,399$1,041$767$598
26 years$2,320$1,747$1,297$952$691$532
27 years$2,210$1,644$1,205$871$623$473
28 years$2,108$1,549$1,120$798$562$422
29 years$2,014$1,462$1,042$732$508$376
30 years$1,926$1,380$971$672$459$335
31 years$1,843$1,305$905$617$415$299
32 years$1,766$1,235$844$567$375$267
33 years$1,694$1,169$788$521$339$239
34 years$1,626$1,108$737$480$307$213
35 years$1,563$1,051$689$442$278$191
36 years$1,502$998$644$407$252$170
37 years$1,446$948$603$375$229$152
38 years$1,392$901$565$345$207$136
39 years$1,341$856$529$318$188$122
40 years$1,293$815$496$294$170$109
41 years$1,248$776$465$271$155$98
42 years$1,204$739$436$250$140$87
43 years$1,163$704$409$231$127$78
44 years$1,124$671$384$213$116$70
45 years$1,087$640$361$197$105$63
46 years$1,051$610$339$182$95$56
47 years$1,017$582$318$168$87$50
48 years$984$556$299$155$79$45
49 years$953$531$281$143$71$40
50 years$924$507$264$133$65$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $946,000, adding $5,400 every year, while hoping to spend $59,785 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: 61/12/27 Blend
53$946,000$946,000$946,000$946,000
54$1,048,062$997,924$983,261$1,104,091
55$1,091,354$983,212$952,590$1,128,119
56$1,137,057$965,774$918,887$1,147,397
57$1,185,356$945,416$881,988$1,167,164
58$1,236,449$921,928$841,721$1,187,482
59$1,290,554$895,090$797,907$1,208,417
60$1,347,910$864,669$750,356$1,230,050
61$1,408,776$830,417$698,872$1,252,468
62$1,473,437$792,073$643,250$1,275,772
63$1,542,203$749,361$583,275$1,300,078
64$1,615,416$701,987$518,723$1,325,515
65$1,693,448$649,644$449,359$1,352,230
66$1,776,706$592,004$374,940$1,380,386
67$1,865,639$528,720$295,209$1,410,172
68$1,960,736$459,429$209,900$1,441,794
69$2,062,533$383,744$118,734$1,475,489
70$2,171,621$301,257$21,421$1,511,521
71$2,288,645$211,537$0$1,550,184
72$2,414,315$114,130$0$1,615,558
73$2,549,407$8,555$0$1,692,395
74$2,694,778$0$0$1,775,027
75$2,851,364$0$0$1,877,974
76$3,020,196$0$0$1,990,245
77$3,202,406$0$0$2,111,470
78$3,399,237$0$0$2,242,485
79$3,612,056$0$0$2,384,205
80$3,842,364$0$0$2,537,640
81$4,091,813$0$0$2,703,899
82$4,362,217$0$0$2,884,199
83$4,655,574$0$0$3,079,882
84$4,974,078$0$0$3,292,421
85$5,320,144$0$0$3,523,439
86$5,696,427$0$0$3,774,719
87$6,105,852$0$0$4,048,225
88$6,551,631$0$0$4,346,115
89$7,037,305$0$0$4,670,767
90$7,566,765$0$0$5,024,795
91$8,144,297$0$0$5,411,079
92$8,774,618$0$0$5,832,787
93$9,462,919$0$0$6,293,408
94$10,214,915$0$0$6,796,781
95$11,036,899$0$0$7,347,133
96$11,935,796$0$0$7,949,119
97$12,919,236$0$0$8,607,864
98$13,995,614$0$0$9,329,011
99$15,174,179$0$0$10,118,774
100$16,465,116$0$0$10,983,996