Can I retire at age 54 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$78,450$77,751$77,070$76,404$75,754$74,653
2 years$38,837$38,113$37,412$36,733$36,073$34,966
3 years$25,634$24,908$24,208$23,535$22,887$21,808
4 years$19,034$18,310$17,617$16,956$16,323$15,281
5 years$15,075$14,355$13,672$13,024$12,408$11,406
6 years$12,436$11,722$11,049$10,415$9,818$8,857
7 years$10,552$9,844$9,182$8,563$7,985$7,065
8 years$9,140$8,438$7,787$7,183$6,624$5,746
9 years$8,042$7,347$6,707$6,118$5,579$4,741
10 years$7,165$6,476$5,847$5,274$4,753$3,956
11 years$6,447$5,765$5,148$4,590$4,088$3,330
12 years$5,849$5,175$4,568$4,026$3,543$2,823
13 years$5,344$4,676$4,082$3,554$3,089$2,407
14 years$4,911$4,251$3,667$3,155$2,708$2,062
15 years$4,536$3,883$3,311$2,814$2,384$1,774
16 years$4,209$3,563$3,002$2,520$2,107$1,531
17 years$3,920$3,281$2,732$2,264$1,868$1,325
18 years$3,664$3,032$2,494$2,040$1,661$1,149
19 years$3,435$2,810$2,283$1,843$1,481$999
20 years$3,229$2,611$2,095$1,670$1,323$870
21 years$3,043$2,432$1,927$1,515$1,184$759
22 years$2,874$2,270$1,776$1,378$1,061$662
23 years$2,720$2,123$1,640$1,255$952$579
24 years$2,579$1,989$1,517$1,144$856$507
25 years$2,449$1,867$1,405$1,045$770$444
26 years$2,330$1,755$1,303$956$694$389
27 years$2,220$1,651$1,210$875$626$341
28 years$2,117$1,556$1,125$801$564$299
29 years$2,022$1,468$1,047$735$510$263
30 years$1,934$1,386$975$674$461$231
31 years$1,851$1,311$909$619$416$203
32 years$1,774$1,240$848$569$377$178
33 years$1,701$1,174$792$523$341$157
34 years$1,633$1,113$740$482$309$138
35 years$1,569$1,056$692$443$280$121
36 years$1,509$1,002$647$408$253$107
37 years$1,452$952$606$376$230$94
38 years$1,398$904$567$347$208$83
39 years$1,347$860$531$320$189$73
40 years$1,299$818$498$295$171$64
41 years$1,253$779$467$272$155$56
42 years$1,209$742$438$251$141$50
43 years$1,168$707$411$232$128$44
44 years$1,129$674$386$214$116$38
45 years$1,091$642$362$198$105$34
46 years$1,055$613$340$183$96$30
47 years$1,021$585$320$169$87$26
48 years$989$558$300$156$79$23
49 years$957$533$282$144$72$20
50 years$928$509$265$133$65$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $950,000, adding $3,117 every year, while hoping to spend $54,264 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: 54/22/24 Blend
53$950,000$950,000$950,000$950,000
54$1,050,115$999,765$985,040$1,099,720
55$1,099,490$991,017$960,303$1,125,452
56$1,152,083$980,022$932,918$1,147,553
57$1,208,165$966,612$902,739$1,170,484
58$1,268,031$950,610$869,615$1,194,344
59$1,332,008$931,827$833,384$1,219,241
60$1,400,452$910,065$793,882$1,245,303
61$1,473,753$885,114$750,932$1,272,668
62$1,552,340$856,749$704,352$1,301,496
63$1,636,683$824,734$653,953$1,331,964
64$1,727,299$788,820$599,534$1,364,274
65$1,824,753$748,742$540,888$1,398,649
66$1,929,667$704,219$477,797$1,435,341
67$2,042,725$654,958$410,035$1,474,631
68$2,164,676$600,643$337,364$1,516,837
69$2,296,343$540,946$259,536$1,562,310
70$2,438,634$475,515$176,294$1,611,444
71$2,592,542$403,983$87,367$1,664,680
72$2,759,161$325,958$0$1,722,508
73$2,939,694$241,029$0$1,787,407
74$3,135,463$148,760$0$1,882,058
75$3,347,923$48,691$0$1,984,823
76$3,578,671$0$0$2,096,542
77$3,829,467$0$0$2,232,586
78$4,102,246$0$0$2,393,454
79$4,399,137$0$0$2,568,626
80$4,722,483$0$0$2,759,492
81$5,074,861$0$0$2,967,586
82$5,459,108$0$0$3,194,594
83$5,878,346$0$0$3,442,373
84$6,336,013$0$0$3,712,966
85$6,835,891$0$0$4,008,624
86$7,382,145$0$0$4,331,821
87$7,979,360$0$0$4,685,286
88$8,632,585$0$0$5,072,020
89$9,347,378$0$0$5,495,330
90$10,129,858$0$0$5,958,854
91$10,986,767$0$0$6,466,603
92$11,925,526$0$0$7,022,991
93$12,954,309$0$0$7,632,879
94$14,082,118$0$0$8,301,622
95$15,318,867$0$0$9,035,118
96$16,675,476$0$0$9,839,863
97$18,163,972$0$0$10,723,011
98$19,797,605$0$0$11,692,444
99$21,590,967$0$0$12,756,843
100$23,560,133$0$0$13,925,772