Can I retire at age 54 with 949,000?

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 $949,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$78,368$77,669$76,988$76,324$75,675$73,755
2 years$38,796$38,073$37,373$36,694$36,036$34,114
3 years$25,607$24,881$24,183$23,510$22,862$21,000
4 years$19,014$18,290$17,599$16,938$16,306$14,515
5 years$15,059$14,340$13,657$13,010$12,395$10,682
6 years$12,423$11,710$11,037$10,404$9,808$8,174
7 years$10,541$9,834$9,172$8,554$7,977$6,422
8 years$9,131$8,429$7,779$7,176$6,617$5,142
9 years$8,034$7,339$6,700$6,112$5,573$4,174
10 years$7,157$6,469$5,841$5,269$4,748$3,425
11 years$6,440$5,759$5,142$4,585$4,084$2,835
12 years$5,843$5,169$4,564$4,022$3,539$2,361
13 years$5,338$4,671$4,077$3,551$3,086$1,978
14 years$4,906$4,246$3,663$3,152$2,705$1,664
15 years$4,532$3,879$3,308$2,811$2,382$1,404
16 years$4,204$3,559$2,999$2,517$2,105$1,189
17 years$3,916$3,278$2,729$2,261$1,866$1,009
18 years$3,660$3,029$2,491$2,038$1,660$858
19 years$3,431$2,807$2,280$1,842$1,479$731
20 years$3,225$2,608$2,093$1,668$1,321$624
21 years$3,039$2,430$1,925$1,514$1,182$533
22 years$2,871$2,268$1,774$1,376$1,060$456
23 years$2,717$2,121$1,638$1,253$951$390
24 years$2,576$1,987$1,515$1,143$855$334
25 years$2,447$1,865$1,403$1,044$769$287
26 years$2,327$1,753$1,301$955$693$246
27 years$2,217$1,650$1,209$874$625$211
28 years$2,115$1,554$1,123$801$564$181
29 years$2,020$1,466$1,045$734$509$156
30 years$1,932$1,385$974$674$460$134
31 years$1,849$1,309$908$619$416$115
32 years$1,772$1,239$847$569$376$99
33 years$1,700$1,173$791$523$340$85
34 years$1,632$1,112$739$481$308$73
35 years$1,568$1,055$691$443$279$63
36 years$1,507$1,001$646$408$253$54
37 years$1,450$951$605$376$229$46
38 years$1,397$903$566$346$208$40
39 years$1,346$859$531$319$189$34
40 years$1,297$817$497$295$171$30
41 years$1,252$778$466$272$155$25
42 years$1,208$741$438$251$141$22
43 years$1,167$706$411$232$128$19
44 years$1,128$673$385$214$116$16
45 years$1,090$642$362$197$105$14
46 years$1,054$612$340$182$96$12
47 years$1,020$584$319$169$87$10
48 years$988$558$300$156$79$9
49 years$956$533$282$144$72$8
50 years$927$509$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 $949,000, adding $6,118 every year, while hoping to spend $37,477 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: 41/30/29 Blend
53$949,000$949,000$949,000$949,000
54$1,052,109$1,001,812$987,102$1,086,065
55$1,119,549$1,011,025$980,295$1,120,454
56$1,192,611$1,019,434$972,003$1,153,710
57$1,271,831$1,026,960$962,139$1,189,000
58$1,357,794$1,033,517$950,607$1,226,536
59$1,451,147$1,039,018$937,310$1,266,552
60$1,552,600$1,043,365$922,146$1,309,308
61$1,662,935$1,046,460$905,008$1,355,094
62$1,783,010$1,048,193$885,782$1,404,229
63$1,913,773$1,048,450$864,351$1,457,072
64$2,056,264$1,047,110$840,593$1,514,016
65$2,211,628$1,044,044$814,378$1,575,501
66$2,381,127$1,039,114$785,572$1,642,013
67$2,566,148$1,032,177$754,035$1,714,091
68$2,768,218$1,023,077$719,619$1,792,332
69$2,989,020$1,011,652$682,170$1,877,400
70$3,230,405$997,727$641,527$1,970,027
71$3,494,411$981,120$597,523$2,071,028
72$3,783,282$961,637$549,981$2,181,302
73$4,099,491$939,070$498,719$2,301,847
74$4,445,757$913,203$443,544$2,433,765
75$4,825,078$883,804$384,257$2,578,279
76$5,240,754$850,629$320,648$2,736,739
77$5,696,421$813,419$252,499$2,910,643
78$6,196,080$771,900$179,582$3,101,643
79$6,744,141$725,784$101,658$3,311,570
80$7,345,460$674,764$18,481$3,542,448
81$8,005,386$618,517$0$3,796,513
82$8,729,811$556,701$0$4,097,988
83$9,525,226$488,953$0$4,435,375
84$10,398,780$414,893$0$4,806,058
85$11,358,349$334,115$0$5,213,469
86$12,412,609$246,196$0$5,661,393
87$13,571,118$150,682$0$6,154,005
88$14,844,407$47,100$0$6,695,914
89$16,244,075$0$0$7,292,202
90$17,782,904$0$0$7,969,950
91$19,474,975$0$0$8,732,423
92$21,335,801$0$0$9,571,078
93$23,382,474$0$0$10,493,637
94$25,633,825$0$0$11,508,605
95$28,110,605$0$0$12,625,355
96$30,835,673$0$0$13,854,215
97$33,834,218$0$0$15,206,562
98$37,133,993$0$0$16,694,933
99$40,765,580$0$0$18,333,144
100$44,762,672$0$0$20,136,415