Can I retire at age 54 with 947,000?

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 $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%18.3%
1 years$78,202$77,506$76,826$76,163$75,515$72,981
2 years$38,714$37,993$37,294$36,617$35,960$33,432
3 years$25,553$24,829$24,132$23,461$22,814$20,372
4 years$18,974$18,252$17,562$16,902$16,271$13,933
5 years$15,027$14,310$13,629$12,982$12,369$10,141
6 years$12,397$11,685$11,014$10,382$9,787$7,671
7 years$10,519$9,813$9,153$8,536$7,960$5,955
8 years$9,111$8,412$7,762$7,160$6,603$4,709
9 years$8,017$7,324$6,686$6,099$5,561$3,775
10 years$7,142$6,456$5,829$5,257$4,738$3,057
11 years$6,427$5,747$5,131$4,576$4,075$2,496
12 years$5,831$5,158$4,554$4,013$3,531$2,051
13 years$5,327$4,661$4,069$3,543$3,079$1,693
14 years$4,896$4,237$3,656$3,145$2,699$1,404
15 years$4,522$3,871$3,301$2,805$2,377$1,168
16 years$4,196$3,551$2,993$2,512$2,101$974
17 years$3,908$3,271$2,723$2,257$1,863$814
18 years$3,652$3,022$2,486$2,034$1,656$682
19 years$3,424$2,801$2,276$1,838$1,476$572
20 years$3,219$2,603$2,088$1,664$1,318$480
21 years$3,033$2,424$1,921$1,510$1,180$404
22 years$2,865$2,263$1,771$1,373$1,058$340
23 years$2,711$2,117$1,635$1,251$949$286
24 years$2,571$1,983$1,512$1,141$853$241
25 years$2,442$1,861$1,400$1,042$768$203
26 years$2,323$1,749$1,299$953$692$171
27 years$2,213$1,646$1,206$872$624$144
28 years$2,111$1,551$1,121$799$563$122
29 years$2,016$1,463$1,043$733$508$103
30 years$1,928$1,382$972$672$459$87
31 years$1,845$1,306$906$617$415$73
32 years$1,768$1,236$845$567$375$62
33 years$1,696$1,171$789$522$340$52
34 years$1,628$1,109$737$480$308$44
35 years$1,564$1,052$689$442$279$37
36 years$1,504$999$645$407$252$32
37 years$1,447$949$604$375$229$27
38 years$1,394$902$565$346$207$23
39 years$1,343$857$530$319$188$19
40 years$1,295$816$496$294$171$16
41 years$1,249$776$465$271$155$14
42 years$1,206$739$437$250$140$11
43 years$1,164$705$410$231$127$10
44 years$1,125$672$385$213$116$8
45 years$1,088$640$361$197$105$7
46 years$1,052$611$339$182$95$6
47 years$1,018$583$319$168$87$5
48 years$985$557$299$155$79$4
49 years$954$531$281$144$71$4
50 years$925$508$265$133$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $947,000, adding $5,896 every year, while hoping to spend $48,099 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: 59/36/5 Blend
53$947,000$947,000$947,000$947,000
54$1,049,676$999,485$984,806$1,110,330
55$1,105,566$997,283$966,620$1,149,449
56$1,165,544$993,360$946,213$1,186,038
57$1,229,978$987,583$923,459$1,224,706
58$1,299,269$979,808$898,228$1,265,654
59$1,373,858$969,882$870,382$1,309,104
60$1,454,230$957,645$839,779$1,355,302
61$1,540,917$942,925$806,267$1,404,524
62$1,634,505$925,543$769,692$1,457,073
63$1,735,636$905,306$729,888$1,513,287
64$1,845,016$882,011$686,684$1,573,538
65$1,963,422$855,444$639,903$1,638,242
66$2,091,707$825,377$589,355$1,707,859
67$2,230,810$791,569$534,847$1,782,897
68$2,381,762$753,765$476,174$1,863,921
69$2,545,699$711,697$413,123$1,951,556
70$2,723,868$665,078$345,471$2,046,495
71$2,917,644$613,608$272,986$2,149,506
72$3,128,538$556,969$195,424$2,261,438
73$3,358,211$494,822$112,533$2,383,231
74$3,608,493$426,814$24,048$2,515,929
75$3,881,399$352,567$0$2,660,683
76$4,179,143$271,684$0$2,822,524
77$4,504,165$183,746$0$3,000,724
78$4,859,149$88,309$0$3,195,576
79$5,247,053$0$0$3,408,826
80$5,671,129$0$0$3,648,381
81$6,134,960$0$0$3,948,731
82$6,642,492$0$0$4,277,455
83$7,198,067$0$0$4,637,376
84$7,806,470$0$0$5,031,603
85$8,472,966$0$0$5,463,559
86$9,203,358$0$0$5,937,016
87$10,004,034$0$0$6,456,124
88$10,882,029$0$0$7,025,458
89$11,845,094$0$0$7,650,054
90$12,901,763$0$0$8,335,460
91$14,061,440$0$0$9,087,789
92$15,334,481$0$0$9,913,773
93$16,732,293$0$0$10,820,825
94$18,267,443$0$0$11,817,117
95$19,953,775$0$0$12,911,646
96$21,806,539$0$0$14,114,326
97$23,842,536$0$0$15,436,079
98$26,080,273$0$0$16,888,937
99$28,540,143$0$0$18,486,155
100$31,244,609$0$0$20,242,337