Can I retire at age 54 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$78,285$77,588$76,907$76,243$75,595$73,351
2 years$38,755$38,033$37,334$36,655$35,998$33,756
3 years$25,580$24,855$24,157$23,485$22,838$20,669
4 years$18,994$18,271$17,580$16,920$16,288$14,207
5 years$15,043$14,325$13,643$12,996$12,382$10,395
6 years$12,410$11,697$11,026$10,393$9,798$7,907
7 years$10,530$9,823$9,162$8,545$7,968$6,173
8 years$9,121$8,420$7,770$7,168$6,610$4,911
9 years$8,025$7,331$6,693$6,106$5,567$3,960
10 years$7,149$6,462$5,835$5,263$4,743$3,228
11 years$6,433$5,753$5,137$4,580$4,079$2,652
12 years$5,837$5,164$4,559$4,018$3,535$2,193
13 years$5,333$4,666$4,073$3,547$3,083$1,823
14 years$4,901$4,242$3,660$3,149$2,702$1,522
15 years$4,527$3,875$3,304$2,808$2,379$1,275
16 years$4,200$3,555$2,996$2,514$2,103$1,071
17 years$3,912$3,274$2,726$2,259$1,864$902
18 years$3,656$3,025$2,488$2,036$1,658$761
19 years$3,427$2,804$2,278$1,840$1,478$643
20 years$3,222$2,606$2,091$1,666$1,320$544
21 years$3,036$2,427$1,923$1,512$1,181$461
22 years$2,868$2,265$1,772$1,375$1,059$391
23 years$2,714$2,119$1,636$1,252$950$332
24 years$2,573$1,985$1,513$1,142$854$282
25 years$2,444$1,863$1,402$1,043$769$239
26 years$2,325$1,751$1,300$954$692$204
27 years$2,215$1,648$1,207$873$624$173
28 years$2,113$1,553$1,122$800$563$147
29 years$2,018$1,465$1,044$733$509$125
30 years$1,930$1,383$973$673$460$107
31 years$1,847$1,308$907$618$415$91
32 years$1,770$1,237$846$568$376$77
33 years$1,698$1,172$790$522$340$66
34 years$1,630$1,111$738$481$308$56
35 years$1,566$1,053$690$442$279$48
36 years$1,506$1,000$646$407$253$41
37 years$1,449$950$604$375$229$35
38 years$1,395$902$566$346$208$30
39 years$1,344$858$530$319$188$25
40 years$1,296$816$497$294$171$21
41 years$1,250$777$466$272$155$18
42 years$1,207$740$437$251$141$16
43 years$1,166$705$410$231$128$13
44 years$1,126$672$385$214$116$11
45 years$1,089$641$362$197$105$10
46 years$1,053$612$340$182$95$8
47 years$1,019$584$319$168$87$7
48 years$987$557$300$156$79$6
49 years$955$532$282$144$72$5
50 years$926$508$265$133$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $948,000, adding $4,513 every year, while hoping to spend $42,385 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: 65/27/8 Blend
53$948,000$948,000$948,000$948,000
54$1,049,351$999,107$984,413$1,115,636
55$1,111,288$1,002,966$972,294$1,164,182
56$1,178,121$1,005,594$958,348$1,211,763
57$1,250,306$1,006,884$942,469$1,262,642
58$1,328,343$1,006,727$924,547$1,317,138
59$1,412,780$1,005,003$904,466$1,375,600
60$1,504,222$1,001,586$882,103$1,438,415
61$1,603,332$996,343$857,333$1,506,011
62$1,710,840$989,132$830,022$1,578,859
63$1,827,548$979,803$800,031$1,657,480
64$1,954,341$968,196$767,214$1,742,451
65$2,092,188$954,142$731,420$1,834,405
66$2,242,159$937,462$692,490$1,934,045
67$2,405,428$917,967$650,258$2,042,146
68$2,583,290$895,456$604,550$2,159,563
69$2,777,168$869,715$555,185$2,287,241
70$2,988,628$840,521$501,973$2,426,222
71$3,219,396$807,633$444,716$2,577,658
72$3,471,368$770,801$383,208$2,742,820
73$3,746,635$729,758$317,233$2,923,112
74$4,047,496$684,221$246,565$3,120,082
75$4,376,484$633,891$170,968$3,335,442
76$4,736,388$578,454$90,198$3,571,079
77$5,130,277$517,576$3,997$3,829,076
78$5,561,533$450,904$0$4,111,734
79$6,033,877$378,067$0$4,429,101
80$6,551,410$298,670$0$4,777,321
81$7,118,647$212,298$0$5,159,169
82$7,740,561$118,512$0$5,578,081
83$8,422,628$16,848$0$6,037,850
84$9,170,880$0$0$6,542,657
85$9,991,962$0$0$7,124,802
86$10,893,192$0$0$7,769,331
87$11,882,633$0$0$8,477,013
88$12,969,164$0$0$9,254,208
89$14,162,567$0$0$10,107,922
90$15,473,621$0$0$11,045,873
91$16,914,196$0$0$12,076,563
92$18,497,370$0$0$13,209,360
93$20,237,554$0$0$14,454,584
94$22,150,619$0$0$15,823,603
95$24,254,056$0$0$17,328,944
96$26,567,131$0$0$18,984,406
97$29,111,074$0$0$20,805,195
98$31,909,273$0$0$22,808,063
99$34,987,498$0$0$25,011,466
100$38,374,141$0$0$27,435,741