Can I retire at age 54 with 949,000?

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 $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%18.8%
1 years$78,368$77,669$76,988$76,324$75,675$72,990
2 years$38,796$38,073$37,373$36,694$36,036$33,359
3 years$25,607$24,881$24,183$23,510$22,862$20,279
4 years$19,014$18,290$17,599$16,938$16,306$13,834
5 years$15,059$14,340$13,657$13,010$12,395$10,043
6 years$12,423$11,710$11,037$10,404$9,808$7,576
7 years$10,541$9,834$9,172$8,554$7,977$5,865
8 years$9,131$8,429$7,779$7,176$6,617$4,624
9 years$8,034$7,339$6,700$6,112$5,573$3,695
10 years$7,157$6,469$5,841$5,269$4,748$2,983
11 years$6,440$5,759$5,142$4,585$4,084$2,428
12 years$5,843$5,169$4,564$4,022$3,539$1,988
13 years$5,338$4,671$4,077$3,551$3,086$1,636
14 years$4,906$4,246$3,663$3,152$2,705$1,351
15 years$4,532$3,879$3,308$2,811$2,382$1,120
16 years$4,204$3,559$2,999$2,517$2,105$931
17 years$3,916$3,278$2,729$2,261$1,866$775
18 years$3,660$3,029$2,491$2,038$1,660$647
19 years$3,431$2,807$2,280$1,842$1,479$540
20 years$3,225$2,608$2,093$1,668$1,321$452
21 years$3,039$2,430$1,925$1,514$1,182$379
22 years$2,871$2,268$1,774$1,376$1,060$317
23 years$2,717$2,121$1,638$1,253$951$266
24 years$2,576$1,987$1,515$1,143$855$223
25 years$2,447$1,865$1,403$1,044$769$187
26 years$2,327$1,753$1,301$955$693$157
27 years$2,217$1,650$1,209$874$625$132
28 years$2,115$1,554$1,123$801$564$111
29 years$2,020$1,466$1,045$734$509$93
30 years$1,932$1,385$974$674$460$79
31 years$1,849$1,309$908$619$416$66
32 years$1,772$1,239$847$569$376$56
33 years$1,700$1,173$791$523$340$47
34 years$1,632$1,112$739$481$308$39
35 years$1,568$1,055$691$443$279$33
36 years$1,507$1,001$646$408$253$28
37 years$1,450$951$605$376$229$23
38 years$1,397$903$566$346$208$20
39 years$1,346$859$531$319$189$17
40 years$1,297$817$497$295$171$14
41 years$1,252$778$466$272$155$12
42 years$1,208$741$438$251$141$10
43 years$1,167$706$411$232$128$8
44 years$1,128$673$385$214$116$7
45 years$1,090$642$362$197$105$6
46 years$1,054$612$340$182$96$5
47 years$1,020$584$319$169$87$4
48 years$988$558$300$156$79$4
49 years$956$533$282$144$72$3
50 years$927$509$265$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $949,000, adding $4,918 every year, while hoping to spend $56,753 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: 42/29/29 Blend
53$949,000$949,000$949,000$949,000
54$1,050,871$1,000,574$985,864$1,085,909
55$1,097,675$989,217$958,506$1,100,288
56$1,147,351$975,402$928,329$1,110,160
57$1,200,132$958,948$895,179$1,119,779
58$1,256,273$939,664$858,895$1,129,157
59$1,316,052$917,347$819,308$1,138,310
60$1,379,776$891,783$776,241$1,147,264
61$1,447,778$862,746$729,510$1,156,047
62$1,520,425$829,994$678,923$1,164,698
63$1,598,119$793,274$624,277$1,173,268
64$1,681,300$752,318$565,363$1,181,813
65$1,770,451$706,840$501,961$1,190,406
66$1,866,102$656,539$433,842$1,199,132
67$1,968,833$601,099$360,764$1,208,091
68$2,079,284$540,182$282,479$1,217,401
69$2,198,153$473,434$198,725$1,227,201
70$2,326,211$400,478$109,229$1,237,650
71$2,464,302$320,919$13,706$1,248,934
72$2,613,355$234,338$0$1,261,266
73$2,774,387$140,291$0$1,302,192
74$2,948,521$38,311$0$1,350,991
75$3,136,988$0$0$1,403,836
76$3,341,141$0$0$1,484,200
77$3,562,470$0$0$1,584,680
78$3,802,611$0$0$1,693,806
79$4,063,365$0$0$1,812,408
80$4,346,711$0$0$1,941,401
81$4,654,829$0$0$2,081,792
82$4,990,114$0$0$2,234,687
83$5,355,204$0$0$2,401,305
84$5,753,001$0$0$2,582,986
85$6,186,697$0$0$2,781,206
86$6,659,806$0$0$2,997,589
87$7,176,199$0$0$3,233,924
88$7,740,131$0$0$3,492,178
89$8,356,291$0$0$3,774,518
90$9,029,840$0$0$4,083,331
91$9,766,459$0$0$4,421,242
92$10,572,403$0$0$4,791,145
93$11,454,562$0$0$5,196,224
94$12,420,519$0$0$5,639,988
95$13,478,629$0$0$6,126,298
96$14,638,088$0$0$6,659,410
97$15,909,029$0$0$7,244,008
98$17,302,608$0$0$7,885,253
99$18,831,115$0$0$8,588,830
100$20,508,083$0$0$9,360,999