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%14.1%
1 years$78,450$77,751$77,070$76,404$75,754$74,469
2 years$38,837$38,113$37,412$36,733$36,073$34,782
3 years$25,634$24,908$24,208$23,535$22,887$21,630
4 years$19,034$18,310$17,617$16,956$16,323$15,110
5 years$15,075$14,355$13,672$13,024$12,408$11,244
6 years$12,436$11,722$11,049$10,415$9,818$8,703
7 years$10,552$9,844$9,182$8,563$7,985$6,919
8 years$9,140$8,438$7,787$7,183$6,624$5,607
9 years$8,042$7,347$6,707$6,118$5,579$4,610
10 years$7,165$6,476$5,847$5,274$4,753$3,832
11 years$6,447$5,765$5,148$4,590$4,088$3,214
12 years$5,849$5,175$4,568$4,026$3,543$2,714
13 years$5,344$4,676$4,082$3,554$3,089$2,305
14 years$4,911$4,251$3,667$3,155$2,708$1,967
15 years$4,536$3,883$3,311$2,814$2,384$1,685
16 years$4,209$3,563$3,002$2,520$2,107$1,448
17 years$3,920$3,281$2,732$2,264$1,868$1,248
18 years$3,664$3,032$2,494$2,040$1,661$1,078
19 years$3,435$2,810$2,283$1,843$1,481$933
20 years$3,229$2,611$2,095$1,670$1,323$809
21 years$3,043$2,432$1,927$1,515$1,184$702
22 years$2,874$2,270$1,776$1,378$1,061$610
23 years$2,720$2,123$1,640$1,255$952$531
24 years$2,579$1,989$1,517$1,144$856$462
25 years$2,449$1,867$1,405$1,045$770$403
26 years$2,330$1,755$1,303$956$694$352
27 years$2,220$1,651$1,210$875$626$307
28 years$2,117$1,556$1,125$801$564$268
29 years$2,022$1,468$1,047$735$510$234
30 years$1,934$1,386$975$674$461$205
31 years$1,851$1,311$909$619$416$179
32 years$1,774$1,240$848$569$377$156
33 years$1,701$1,174$792$523$341$137
34 years$1,633$1,113$740$482$309$120
35 years$1,569$1,056$692$443$280$105
36 years$1,509$1,002$647$408$253$92
37 years$1,452$952$606$376$230$80
38 years$1,398$904$567$347$208$70
39 years$1,347$860$531$320$189$62
40 years$1,299$818$498$295$171$54
41 years$1,253$779$467$272$155$47
42 years$1,209$742$438$251$141$41
43 years$1,168$707$411$232$128$36
44 years$1,129$674$386$214$116$32
45 years$1,091$642$362$198$105$28
46 years$1,055$613$340$183$96$24
47 years$1,021$585$320$169$87$21
48 years$989$558$300$156$79$19
49 years$957$533$282$144$72$16
50 years$928$509$265$133$65$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $950,000, adding $3,373 every year, while hoping to spend $54,980 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: 27/46/27 Blend
53$950,000$950,000$950,000$950,000
54$1,050,379$1,000,029$985,304$1,069,822
55$1,099,020$990,532$959,814$1,076,264
56$1,150,779$978,727$931,626$1,078,211
57$1,205,916$964,443$900,594$1,079,177
58$1,264,717$947,499$866,562$1,079,116
59$1,327,494$927,702$829,367$1,077,982
60$1,394,588$904,848$788,840$1,075,732
61$1,466,373$878,723$744,803$1,072,323
62$1,543,261$849,098$697,072$1,067,718
63$1,625,702$815,732$645,452$1,061,878
64$1,714,190$778,370$589,742$1,054,772
65$1,809,268$736,741$529,729$1,046,371
66$1,911,531$690,559$465,193$1,036,654
67$2,021,634$639,523$395,903$1,025,605
68$2,140,293$583,312$321,618$1,013,216
69$2,268,298$521,589$242,087$999,490
70$2,406,514$453,997$157,048$984,437
71$2,555,895$380,159$66,225$968,084
72$2,717,486$299,676$0$950,469
73$2,892,437$212,128$0$940,493
74$3,082,012$117,069$0$950,321
75$3,287,603$14,031$0$961,042
76$3,510,737$0$0$972,870
77$3,753,097$0$0$1,035,397
78$4,016,532$0$0$1,111,218
79$4,303,076$0$0$1,193,835
80$4,614,970$0$0$1,283,911
81$4,954,675$0$0$1,382,176
82$5,324,903$0$0$1,489,435
83$5,728,637$0$0$1,606,571
84$6,169,160$0$0$1,734,560
85$6,650,088$0$0$1,874,473
86$7,175,397$0$0$2,027,492
87$7,749,469$0$0$2,194,916
88$8,377,125$0$0$2,378,176
89$9,063,674$0$0$2,578,850
90$9,814,961$0$0$2,798,672
91$10,637,424$0$0$3,039,555
92$11,538,149$0$0$3,303,604
93$12,524,944$0$0$3,593,137
94$13,606,404$0$0$3,910,708
95$14,791,996$0$0$4,259,130
96$16,092,147$0$0$4,641,502
97$17,518,342$0$0$5,061,235
98$19,083,230$0$0$5,522,090
99$20,800,743$0$0$6,028,207
100$22,686,231$0$0$6,584,148