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%16%
1 years$78,285$77,588$76,907$76,243$75,595$73,737
2 years$38,755$38,033$37,334$36,655$35,998$34,138
3 years$25,580$24,855$24,157$23,485$22,838$21,034
4 years$18,994$18,271$17,580$16,920$16,288$14,554
5 years$15,043$14,325$13,643$12,996$12,382$10,722
6 years$12,410$11,697$11,026$10,393$9,798$8,214
7 years$10,530$9,823$9,162$8,545$7,968$6,460
8 years$9,121$8,420$7,770$7,168$6,610$5,178
9 years$8,025$7,331$6,693$6,106$5,567$4,209
10 years$7,149$6,462$5,835$5,263$4,743$3,458
11 years$6,433$5,753$5,137$4,580$4,079$2,865
12 years$5,837$5,164$4,559$4,018$3,535$2,390
13 years$5,333$4,666$4,073$3,547$3,083$2,004
14 years$4,901$4,242$3,660$3,149$2,702$1,688
15 years$4,527$3,875$3,304$2,808$2,379$1,427
16 years$4,200$3,555$2,996$2,514$2,103$1,210
17 years$3,912$3,274$2,726$2,259$1,864$1,029
18 years$3,656$3,025$2,488$2,036$1,658$876
19 years$3,427$2,804$2,278$1,840$1,478$748
20 years$3,222$2,606$2,091$1,666$1,320$639
21 years$3,036$2,427$1,923$1,512$1,181$547
22 years$2,868$2,265$1,772$1,375$1,059$468
23 years$2,714$2,119$1,636$1,252$950$402
24 years$2,573$1,985$1,513$1,142$854$345
25 years$2,444$1,863$1,402$1,043$769$296
26 years$2,325$1,751$1,300$954$692$254
27 years$2,215$1,648$1,207$873$624$218
28 years$2,113$1,553$1,122$800$563$188
29 years$2,018$1,465$1,044$733$509$162
30 years$1,930$1,383$973$673$460$139
31 years$1,847$1,308$907$618$415$120
32 years$1,770$1,237$846$568$376$103
33 years$1,698$1,172$790$522$340$89
34 years$1,630$1,111$738$481$308$76
35 years$1,566$1,053$690$442$279$66
36 years$1,506$1,000$646$407$253$57
37 years$1,449$950$604$375$229$49
38 years$1,395$902$566$346$208$42
39 years$1,344$858$530$319$188$36
40 years$1,296$816$497$294$171$31
41 years$1,250$777$466$272$155$27
42 years$1,207$740$437$251$141$23
43 years$1,166$705$410$231$128$20
44 years$1,126$672$385$214$116$17
45 years$1,089$641$362$197$105$15
46 years$1,053$612$340$182$95$13
47 years$1,019$584$319$168$87$11
48 years$987$557$300$156$79$10
49 years$955$532$282$144$72$8
50 years$926$508$265$133$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $948,000, adding $2,217 every year, while hoping to spend $38,748 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: 44/46/10 Blend
53$948,000$948,000$948,000$948,000
54$1,046,983$996,739$982,045$1,089,960
55$1,112,548$1,004,351$973,716$1,127,643
56$1,183,501$1,011,038$963,809$1,164,342
57$1,260,352$1,016,714$952,231$1,203,242
58$1,343,661$1,021,285$938,883$1,244,561
59$1,434,041$1,024,655$923,663$1,288,539
60$1,532,170$1,026,720$906,462$1,335,442
61$1,638,792$1,027,370$887,169$1,385,568
62$1,754,725$1,026,487$865,665$1,439,244
63$1,880,870$1,023,947$841,828$1,496,834
64$2,018,217$1,019,619$815,527$1,558,742
65$2,167,856$1,013,362$786,629$1,625,414
66$2,330,988$1,005,027$754,991$1,697,347
67$2,508,932$994,457$720,467$1,775,090
68$2,703,143$981,485$682,903$1,859,250
69$2,915,220$965,934$642,136$1,950,502
70$3,146,924$947,616$597,999$2,049,592
71$3,400,193$926,332$550,315$2,157,346
72$3,677,163$901,873$498,901$2,274,677
73$3,980,184$874,015$443,564$2,402,600
74$4,311,843$842,522$384,104$2,542,234
75$4,674,990$807,145$320,311$2,694,818
76$5,072,764$767,620$251,966$2,861,726
77$5,508,620$723,667$178,840$3,044,473
78$5,986,363$674,991$100,696$3,244,739
79$6,510,186$621,279$17,283$3,464,379
80$7,084,705$562,202$0$3,705,447
81$7,715,006$497,411$0$3,977,864
82$8,406,688$426,535$0$4,278,952
83$9,165,922$349,187$0$4,609,668
84$9,999,502$264,954$0$4,973,108
85$10,914,916$173,401$0$5,372,692
86$11,920,409$74,069$0$5,812,196
87$13,025,065$0$0$6,295,792
88$14,238,893$0$0$6,845,055
89$15,572,918$0$0$7,490,036
90$17,039,285$0$0$8,199,127
91$18,651,376$0$0$8,978,817
92$20,423,934$0$0$9,836,252
93$22,373,202$0$0$10,779,306
94$24,517,075$0$0$11,816,653
95$26,875,270$0$0$12,957,852
96$29,469,511$0$0$14,213,435
97$32,323,732$0$0$15,595,004
98$35,464,307$0$0$17,115,345
99$38,920,292$0$0$18,788,544
100$42,723,704$0$0$20,630,124