Can I retire at age 54 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$78,202$77,506$76,826$76,163$75,515$72,576
2 years$38,714$37,993$37,294$36,617$35,960$33,034
3 years$25,553$24,829$24,132$23,461$22,814$19,995
4 years$18,974$18,252$17,562$16,902$16,271$13,579
5 years$15,027$14,310$13,629$12,982$12,369$9,810
6 years$12,397$11,685$11,014$10,382$9,787$7,364
7 years$10,519$9,813$9,153$8,536$7,960$5,671
8 years$9,111$8,412$7,762$7,160$6,603$4,448
9 years$8,017$7,324$6,686$6,099$5,561$3,535
10 years$7,142$6,456$5,829$5,257$4,738$2,838
11 years$6,427$5,747$5,131$4,576$4,075$2,296
12 years$5,831$5,158$4,554$4,013$3,531$1,868
13 years$5,327$4,661$4,069$3,543$3,079$1,528
14 years$4,896$4,237$3,656$3,145$2,699$1,254
15 years$4,522$3,871$3,301$2,805$2,377$1,033
16 years$4,196$3,551$2,993$2,512$2,101$853
17 years$3,908$3,271$2,723$2,257$1,863$706
18 years$3,652$3,022$2,486$2,034$1,656$585
19 years$3,424$2,801$2,276$1,838$1,476$485
20 years$3,219$2,603$2,088$1,664$1,318$403
21 years$3,033$2,424$1,921$1,510$1,180$335
22 years$2,865$2,263$1,771$1,373$1,058$279
23 years$2,711$2,117$1,635$1,251$949$232
24 years$2,571$1,983$1,512$1,141$853$194
25 years$2,442$1,861$1,400$1,042$768$161
26 years$2,323$1,749$1,299$953$692$135
27 years$2,213$1,646$1,206$872$624$112
28 years$2,111$1,551$1,121$799$563$94
29 years$2,016$1,463$1,043$733$508$78
30 years$1,928$1,382$972$672$459$65
31 years$1,845$1,306$906$617$415$54
32 years$1,768$1,236$845$567$375$45
33 years$1,696$1,171$789$522$340$38
34 years$1,628$1,109$737$480$308$32
35 years$1,564$1,052$689$442$279$26
36 years$1,504$999$645$407$252$22
37 years$1,447$949$604$375$229$18
38 years$1,394$902$565$346$207$15
39 years$1,343$857$530$319$188$13
40 years$1,295$816$496$294$171$11
41 years$1,249$776$465$271$155$9
42 years$1,206$739$437$250$140$8
43 years$1,164$705$410$231$127$6
44 years$1,125$672$385$213$116$5
45 years$1,088$640$361$197$105$4
46 years$1,052$611$339$182$95$4
47 years$1,018$583$319$168$87$3
48 years$985$557$299$155$79$3
49 years$954$531$281$144$71$2
50 years$925$508$265$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $947,000, adding $2,774 every year, while hoping to spend $46,612 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: 47/35/18 Blend
53$947,000$947,000$947,000$947,000
54$1,046,455$996,264$981,586$1,090,180
55$1,103,599$995,487$964,874$1,120,114
56$1,165,009$993,108$946,040$1,147,655
57$1,231,072$989,002$924,964$1,176,557
58$1,302,210$983,033$901,520$1,206,968
59$1,378,890$975,056$875,576$1,239,051
60$1,461,623$964,920$846,994$1,272,988
61$1,550,971$952,463$815,630$1,308,987
62$1,647,550$937,514$781,333$1,347,274
63$1,752,039$919,891$743,947$1,388,106
64$1,865,184$899,402$703,306$1,431,768
65$1,987,804$875,845$659,239$1,478,578
66$2,120,802$849,003$611,565$1,528,890
67$2,265,168$818,648$560,096$1,583,100
68$2,421,992$784,539$504,637$1,641,646
69$2,592,475$746,421$444,981$1,705,020
70$2,777,935$704,023$380,916$1,773,764
71$2,979,824$657,060$312,217$1,848,485
72$3,199,740$605,230$238,650$1,929,856
73$3,439,441$548,214$159,972$2,018,625
74$3,700,861$485,673$75,928$2,115,622
75$3,986,130$417,252$0$2,221,772
76$4,297,591$342,574$0$2,340,740
77$4,637,825$261,239$0$2,486,754
78$5,009,672$172,829$0$2,646,534
79$5,416,259$76,898$0$2,821,534
80$5,861,030$0$0$3,013,366
81$6,347,775$0$0$3,234,219
82$6,880,669$0$0$3,508,540
83$7,464,309$0$0$3,809,090
84$8,103,757$0$0$4,138,491
85$8,804,589$0$0$4,499,629
86$9,572,944$0$0$4,895,681
87$10,415,586$0$0$5,330,150
88$11,339,962$0$0$5,806,889
89$12,354,278$0$0$6,330,148
90$13,467,569$0$0$6,904,605
91$14,689,790$0$0$7,535,412
92$16,031,907$0$0$8,228,248
93$17,505,998$0$0$8,989,366
94$19,125,369$0$0$9,825,656
95$20,904,680$0$0$10,744,708
96$22,860,079$0$0$11,754,883
97$25,009,357$0$0$12,865,395
98$27,372,114$0$0$14,086,391
99$29,969,944$0$0$15,429,053
100$32,826,638$0$0$16,905,701