Can I retire at age 54 with 950,000?

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 $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%19.5%
1 years$78,450$77,751$77,070$76,404$75,754$72,864
2 years$38,837$38,113$37,412$36,733$36,073$33,195
3 years$25,634$24,908$24,208$23,535$22,887$20,111
4 years$19,034$18,310$17,617$16,956$16,323$13,672
5 years$15,075$14,355$13,672$13,024$12,408$9,888
6 years$12,436$11,722$11,049$10,415$9,818$7,431
7 years$10,552$9,844$9,182$8,563$7,985$5,729
8 years$9,140$8,438$7,787$7,183$6,624$4,498
9 years$8,042$7,347$6,707$6,118$5,579$3,579
10 years$7,165$6,476$5,847$5,274$4,753$2,877
11 years$6,447$5,765$5,148$4,590$4,088$2,331
12 years$5,849$5,175$4,568$4,026$3,543$1,899
13 years$5,344$4,676$4,082$3,554$3,089$1,556
14 years$4,911$4,251$3,667$3,155$2,708$1,279
15 years$4,536$3,883$3,311$2,814$2,384$1,055
16 years$4,209$3,563$3,002$2,520$2,107$872
17 years$3,920$3,281$2,732$2,264$1,868$722
18 years$3,664$3,032$2,494$2,040$1,661$600
19 years$3,435$2,810$2,283$1,843$1,481$498
20 years$3,229$2,611$2,095$1,670$1,323$415
21 years$3,043$2,432$1,927$1,515$1,184$345
22 years$2,874$2,270$1,776$1,378$1,061$288
23 years$2,720$2,123$1,640$1,255$952$240
24 years$2,579$1,989$1,517$1,144$856$200
25 years$2,449$1,867$1,405$1,045$770$167
26 years$2,330$1,755$1,303$956$694$140
27 years$2,220$1,651$1,210$875$626$117
28 years$2,117$1,556$1,125$801$564$98
29 years$2,022$1,468$1,047$735$510$82
30 years$1,934$1,386$975$674$461$68
31 years$1,851$1,311$909$619$416$57
32 years$1,774$1,240$848$569$377$48
33 years$1,701$1,174$792$523$341$40
34 years$1,633$1,113$740$482$309$33
35 years$1,569$1,056$692$443$280$28
36 years$1,509$1,002$647$408$253$23
37 years$1,452$952$606$376$230$20
38 years$1,398$904$567$347$208$16
39 years$1,347$860$531$320$189$14
40 years$1,299$818$498$295$171$11
41 years$1,253$779$467$272$155$10
42 years$1,209$742$438$251$141$8
43 years$1,168$707$411$232$128$7
44 years$1,129$674$386$214$116$6
45 years$1,091$642$362$198$105$5
46 years$1,055$613$340$183$96$4
47 years$1,021$585$320$169$87$3
48 years$989$558$300$156$79$3
49 years$957$533$282$144$72$2
50 years$928$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 $950,000, adding $5,210 every year, while hoping to spend $22,987 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: 35/46/19 Blend
53$950,000$950,000$950,000$950,000
54$1,052,274$1,001,924$987,199$1,082,835
55$1,135,148$1,026,560$995,812$1,130,306
56$1,225,705$1,051,633$1,003,944$1,178,979
57$1,324,704$1,077,140$1,011,553$1,231,016
58$1,432,980$1,103,077$1,018,597$1,286,730
59$1,551,456$1,129,440$1,025,031$1,346,466
60$1,681,144$1,156,222$1,030,809$1,410,601
61$1,823,160$1,183,416$1,035,881$1,479,553
62$1,978,735$1,211,016$1,040,195$1,553,783
63$2,149,220$1,239,010$1,043,696$1,633,797
64$2,336,108$1,267,389$1,046,327$1,720,153
65$2,541,039$1,296,139$1,048,028$1,813,469
66$2,765,824$1,325,248$1,048,735$1,914,421
67$3,012,452$1,354,700$1,048,382$2,023,758
68$3,283,119$1,384,477$1,046,899$2,142,303
69$3,580,240$1,414,560$1,044,214$2,270,967
70$3,906,479$1,444,928$1,040,250$2,410,749
71$4,264,768$1,475,557$1,034,925$2,562,754
72$4,658,336$1,506,421$1,028,158$2,728,200
73$5,090,743$1,537,492$1,019,858$2,908,427
74$5,565,909$1,568,740$1,009,933$3,104,915
75$6,088,154$1,600,130$998,288$3,319,294
76$6,662,235$1,631,625$984,819$3,553,363
77$7,293,394$1,663,186$969,422$3,809,102
78$7,987,407$1,694,769$951,985$4,088,698
79$8,750,637$1,726,328$932,391$4,394,558
80$9,590,095$1,757,811$910,519$4,729,339
81$10,513,505$1,789,164$886,242$5,095,968
82$11,529,377$1,820,327$859,425$5,497,673
83$12,647,088$1,851,238$829,931$5,938,013
84$13,876,970$1,881,827$797,612$6,420,912
85$15,230,406$1,912,022$762,317$6,950,693
86$16,719,939$1,941,742$723,886$7,532,127
87$18,359,389$1,970,904$682,152$8,170,470
88$20,163,985$1,999,416$636,942$8,871,517
89$22,150,505$2,027,181$588,074$9,641,659
90$24,337,439$2,054,096$535,357$10,487,937
91$26,745,159$2,080,048$478,593$11,418,119
92$29,396,113$2,104,918$417,574$12,440,763
93$32,315,038$2,128,580$352,084$13,565,307
94$35,529,189$2,150,898$281,896$14,802,154
95$39,068,602$2,171,728$206,775$16,162,772
96$42,966,371$2,190,913$126,473$17,659,803
97$47,258,964$2,208,292$40,733$19,307,183
98$51,986,568$2,223,688$0$21,120,275
99$57,193,463$2,236,914$0$23,126,305
100$62,928,447$2,247,773$0$25,343,131