Can I retire at age 54 with 951,000?

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 $951,000?

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 years$78,533$77,833$77,151$76,485$75,834$74,578
2 years$38,878$38,154$37,452$36,771$36,111$34,849
3 years$25,661$24,934$24,234$23,560$22,911$21,682
4 years$19,054$18,329$17,636$16,974$16,340$15,155
5 years$15,091$14,370$13,686$13,037$12,421$11,282
6 years$12,449$11,734$11,061$10,426$9,829$8,737
7 years$10,564$9,854$9,191$8,572$7,993$6,950
8 years$9,150$8,447$7,795$7,191$6,631$5,636
9 years$8,051$7,355$6,714$6,125$5,584$4,636
10 years$7,172$6,483$5,853$5,280$4,758$3,857
11 years$6,454$5,771$5,153$4,595$4,092$3,236
12 years$5,855$5,180$4,573$4,030$3,546$2,735
13 years$5,350$4,681$4,086$3,558$3,092$2,324
14 years$4,916$4,255$3,671$3,159$2,711$1,984
15 years$4,541$3,887$3,315$2,817$2,387$1,701
16 years$4,213$3,566$3,005$2,522$2,109$1,463
17 years$3,924$3,284$2,735$2,266$1,870$1,262
18 years$3,668$3,035$2,496$2,042$1,663$1,090
19 years$3,438$2,813$2,285$1,845$1,482$944
20 years$3,232$2,614$2,097$1,671$1,324$819
21 years$3,046$2,435$1,929$1,517$1,185$712
22 years$2,877$2,273$1,778$1,379$1,062$619
23 years$2,723$2,126$1,642$1,256$953$539
24 years$2,581$1,992$1,518$1,146$857$470
25 years$2,452$1,869$1,406$1,046$771$410
26 years$2,332$1,756$1,304$957$695$358
27 years$2,222$1,653$1,211$876$626$313
28 years$2,120$1,558$1,126$802$565$273
29 years$2,024$1,469$1,048$736$510$239
30 years$1,936$1,388$976$675$461$209
31 years$1,853$1,312$910$620$417$183
32 years$1,776$1,241$849$570$377$160
33 years$1,703$1,176$793$524$341$140
34 years$1,635$1,114$741$482$309$123
35 years$1,571$1,057$692$444$280$108
36 years$1,510$1,003$648$409$254$94
37 years$1,453$953$606$377$230$83
38 years$1,399$905$568$347$208$72
39 years$1,348$861$532$320$189$63
40 years$1,300$819$499$295$171$56
41 years$1,254$780$467$272$155$49
42 years$1,211$743$438$251$141$43
43 years$1,169$707$411$232$128$37
44 years$1,130$674$386$214$116$33
45 years$1,092$643$363$198$105$29
46 years$1,057$613$341$183$96$25
47 years$1,022$585$320$169$87$22
48 years$990$559$301$156$79$19
49 years$958$534$283$144$72$17
50 years$929$510$266$133$65$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $951,000, adding $2,460 every year, while hoping to spend $58,429 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: 66/8/26 Blend
53$951,000$951,000$951,000$951,000
54$1,050,539$1,000,136$985,396$1,112,593
55$1,095,527$986,975$956,239$1,141,547
56$1,143,144$971,211$924,146$1,166,390
57$1,193,598$952,654$888,959$1,192,235
58$1,247,115$931,104$850,509$1,219,186
59$1,303,942$906,349$808,622$1,247,356
60$1,364,348$878,164$763,115$1,276,874
61$1,428,629$846,311$713,797$1,307,884
62$1,497,107$810,539$660,467$1,340,546
63$1,570,138$770,580$602,918$1,375,040
64$1,648,107$726,154$540,931$1,411,564
65$1,731,441$676,962$474,279$1,450,343
66$1,820,604$622,690$402,724$1,491,625
67$1,916,107$563,004$326,017$1,535,686
68$2,018,511$497,551$243,899$1,582,834
69$2,128,429$425,961$156,099$1,633,414
70$2,246,535$347,840$62,336$1,687,806
71$2,373,570$262,773$0$1,746,434
72$2,510,347$170,321$0$1,820,237
73$2,657,756$70,020$0$1,918,407
74$2,816,779$0$0$2,024,305
75$2,988,492$0$0$2,142,069
76$3,174,079$0$0$2,276,057
77$3,374,839$0$0$2,421,049
78$3,592,202$0$0$2,578,086
79$3,827,741$0$0$2,748,308
80$4,083,181$0$0$2,932,971
81$4,360,425$0$0$3,133,456
82$4,661,561$0$0$3,351,283
83$4,988,889$0$0$3,588,121
84$5,344,938$0$0$3,845,810
85$5,732,490$0$0$4,126,371
86$6,154,606$0$0$4,432,031
87$6,614,657$0$0$4,765,239
88$7,116,350$0$0$5,128,690
89$7,663,766$0$0$5,525,350
90$8,261,397$0$0$5,958,486
91$8,914,189$0$0$6,431,693
92$9,627,584$0$0$6,948,929
93$10,407,575$0$0$7,514,551
94$11,260,763$0$0$8,133,356
95$12,194,411$0$0$8,810,627
96$13,216,521$0$0$9,552,181
97$14,335,902$0$0$10,364,425
98$15,562,255$0$0$11,254,412
99$16,906,265$0$0$12,229,911
100$18,379,699$0$0$13,299,479