Can I retire at age 54 with 948,000?

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 $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%12.3%
1 years$78,285$77,588$76,907$76,243$75,595$74,868
2 years$38,755$38,033$37,334$36,655$35,998$35,265
3 years$25,580$24,855$24,157$23,485$22,838$22,123
4 years$18,994$18,271$17,580$16,920$16,288$15,596
5 years$15,043$14,325$13,643$12,996$12,382$11,715
6 years$12,410$11,697$11,026$10,393$9,798$9,156
7 years$10,530$9,823$9,162$8,545$7,968$7,352
8 years$9,121$8,420$7,770$7,168$6,610$6,021
9 years$8,025$7,331$6,693$6,106$5,567$5,003
10 years$7,149$6,462$5,835$5,263$4,743$4,205
11 years$6,433$5,753$5,137$4,580$4,079$3,566
12 years$5,837$5,164$4,559$4,018$3,535$3,046
13 years$5,333$4,666$4,073$3,547$3,083$2,618
14 years$4,901$4,242$3,660$3,149$2,702$2,261
15 years$4,527$3,875$3,304$2,808$2,379$1,960
16 years$4,200$3,555$2,996$2,514$2,103$1,706
17 years$3,912$3,274$2,726$2,259$1,864$1,489
18 years$3,656$3,025$2,488$2,036$1,658$1,303
19 years$3,427$2,804$2,278$1,840$1,478$1,142
20 years$3,222$2,606$2,091$1,666$1,320$1,004
21 years$3,036$2,427$1,923$1,512$1,181$883
22 years$2,868$2,265$1,772$1,375$1,059$778
23 years$2,714$2,119$1,636$1,252$950$687
24 years$2,573$1,985$1,513$1,142$854$606
25 years$2,444$1,863$1,402$1,043$769$536
26 years$2,325$1,751$1,300$954$692$474
27 years$2,215$1,648$1,207$873$624$420
28 years$2,113$1,553$1,122$800$563$372
29 years$2,018$1,465$1,044$733$509$330
30 years$1,930$1,383$973$673$460$293
31 years$1,847$1,308$907$618$415$260
32 years$1,770$1,237$846$568$376$231
33 years$1,698$1,172$790$522$340$205
34 years$1,630$1,111$738$481$308$182
35 years$1,566$1,053$690$442$279$162
36 years$1,506$1,000$646$407$253$144
37 years$1,449$950$604$375$229$128
38 years$1,395$902$566$346$208$114
39 years$1,344$858$530$319$188$101
40 years$1,296$816$497$294$171$90
41 years$1,250$777$466$272$155$80
42 years$1,207$740$437$251$141$71
43 years$1,166$705$410$231$128$63
44 years$1,126$672$385$214$116$56
45 years$1,089$641$362$197$105$50
46 years$1,053$612$340$182$95$45
47 years$1,019$584$319$168$87$40
48 years$987$557$300$156$79$35
49 years$955$532$282$144$72$31
50 years$926$508$265$133$65$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $948,000, adding $5,929 every year, while hoping to spend $22,448 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: 80/6/14 Blend
53$948,000$948,000$948,000$948,000
54$1,050,812$1,000,568$985,874$1,131,472
55$1,134,110$1,025,711$995,016$1,210,490
56$1,225,152$1,051,334$1,003,712$1,293,691
57$1,324,705$1,077,437$1,011,924$1,384,357
58$1,433,612$1,104,017$1,019,610$1,483,225
59$1,552,801$1,131,075$1,026,727$1,591,109
60$1,683,296$1,158,607$1,033,232$1,708,903
61$1,826,222$1,186,609$1,039,076$1,837,594
62$1,982,821$1,215,077$1,044,209$1,978,267
63$2,154,459$1,244,006$1,048,580$2,132,119
64$2,342,639$1,273,387$1,052,132$2,300,468
65$2,549,018$1,303,214$1,054,809$2,484,766
66$2,775,423$1,333,476$1,056,550$2,686,612
67$3,023,863$1,364,163$1,057,291$2,907,769
68$3,296,552$1,395,262$1,056,966$3,150,180
69$3,595,929$1,426,759$1,055,503$3,415,982
70$3,924,681$1,458,638$1,052,830$3,707,533
71$4,285,768$1,490,880$1,048,869$4,027,431
72$4,682,450$1,523,467$1,043,540$4,378,536
73$5,118,319$1,556,376$1,036,757$4,764,002
74$5,597,332$1,589,583$1,028,433$5,187,302
75$6,123,848$1,623,060$1,018,474$5,652,266
76$6,702,669$1,656,779$1,006,781$6,163,110
77$7,339,088$1,690,707$993,254$6,724,483
78$8,038,932$1,724,809$977,786$7,341,507
79$8,808,625$1,759,047$960,264$8,019,825
80$9,655,243$1,793,379$940,571$8,765,656
81$10,586,583$1,827,759$918,585$9,585,854
82$11,611,233$1,862,139$894,177$10,487,969
83$12,738,661$1,896,465$867,213$11,480,323
84$13,979,292$1,930,680$837,553$12,572,086
85$15,344,619$1,964,722$805,050$13,773,363
86$16,847,302$1,998,525$769,551$15,095,289
87$18,501,290$2,032,016$730,894$16,550,135
88$20,321,955$2,065,119$688,913$18,151,424
89$22,326,235$2,097,750$643,432$19,914,057
90$24,532,792$2,129,820$594,267$21,854,455
91$26,962,189$2,161,234$541,228$23,990,713
92$29,637,087$2,191,890$484,114$26,342,774
93$32,582,455$2,221,677$422,717$28,932,613
94$35,825,805$2,250,479$356,817$31,784,447
95$39,397,456$2,278,170$286,189$34,924,962
96$43,330,813$2,304,617$210,593$38,383,569
97$47,662,689$2,329,677$129,781$42,192,675
98$52,433,649$2,353,197$43,494$46,387,995
99$57,688,392$2,375,014$0$51,008,888
100$63,476,173$2,394,955$0$56,105,985