Can I retire at age 54 with 958,000?

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 $958,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$79,111$78,406$77,719$77,048$76,392$73,390
2 years$39,164$38,434$37,727$37,042$36,377$33,390
3 years$25,850$25,117$24,412$23,733$23,079$20,200
4 years$19,194$18,464$17,766$17,098$16,460$13,711
5 years$15,202$14,476$13,787$13,133$12,513$9,901
6 years$12,541$11,821$11,142$10,503$9,901$7,428
7 years$10,641$9,927$9,259$8,635$8,052$5,717
8 years$9,217$8,509$7,852$7,244$6,680$4,481
9 years$8,110$7,409$6,763$6,170$5,626$3,559
10 years$7,225$6,531$5,896$5,319$4,793$2,855
11 years$6,501$5,814$5,191$4,629$4,122$2,308
12 years$5,898$5,218$4,607$4,060$3,572$1,878
13 years$5,389$4,716$4,116$3,584$3,115$1,534
14 years$4,952$4,286$3,698$3,182$2,731$1,259
15 years$4,575$3,916$3,339$2,838$2,404$1,036
16 years$4,244$3,593$3,027$2,541$2,125$855
17 years$3,953$3,309$2,755$2,283$1,884$707
18 years$3,695$3,057$2,515$2,057$1,675$585
19 years$3,464$2,833$2,302$1,859$1,493$485
20 years$3,256$2,633$2,113$1,684$1,334$403
21 years$3,068$2,453$1,943$1,528$1,194$335
22 years$2,898$2,289$1,791$1,389$1,070$278
23 years$2,743$2,141$1,654$1,265$960$232
24 years$2,600$2,006$1,529$1,154$863$193
25 years$2,470$1,883$1,417$1,054$777$161
26 years$2,350$1,769$1,314$964$700$134
27 years$2,238$1,665$1,220$882$631$112
28 years$2,135$1,569$1,134$808$569$93
29 years$2,039$1,480$1,055$741$514$78
30 years$1,950$1,398$983$680$464$65
31 years$1,867$1,322$916$625$420$54
32 years$1,789$1,250$855$574$380$45
33 years$1,716$1,184$798$528$344$38
34 years$1,647$1,122$746$486$311$31
35 years$1,582$1,065$697$447$282$26
36 years$1,522$1,010$652$412$255$22
37 years$1,464$960$611$379$231$18
38 years$1,410$912$572$350$210$15
39 years$1,358$867$536$322$190$13
40 years$1,310$825$502$297$173$11
41 years$1,264$785$471$274$157$9
42 years$1,220$748$442$253$142$7
43 years$1,178$713$414$234$129$6
44 years$1,138$679$389$216$117$5
45 years$1,100$648$365$199$106$4
46 years$1,064$618$343$184$96$4
47 years$1,030$590$322$170$88$3
48 years$997$563$303$157$80$2
49 years$965$538$285$145$72$2
50 years$935$514$268$134$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $958,000, adding $5,661 every year, while hoping to spend $46,315 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: 56/16/28 Blend
53$958,000$958,000$958,000$958,000
54$1,061,555$1,010,781$995,932$1,112,525
55$1,120,555$1,011,031$980,017$1,148,469
56$1,184,021$1,009,740$962,017$1,182,325
57$1,252,359$1,006,785$941,812$1,218,274
58$1,326,015$1,002,034$919,279$1,256,533
59$1,405,481$995,346$894,287$1,297,346
60$1,491,296$986,573$866,701$1,340,979
61$1,584,050$975,558$836,378$1,387,730
62$1,684,396$962,133$803,169$1,437,932
63$1,793,049$946,121$766,920$1,491,949
64$1,910,794$927,336$727,466$1,550,190
65$2,038,498$905,578$684,639$1,613,106
66$2,177,110$880,637$638,260$1,681,197
67$2,327,678$852,291$588,144$1,755,018
68$2,491,352$820,304$534,098$1,835,182
69$2,669,397$784,426$475,917$1,922,372
70$2,863,206$744,393$413,391$2,017,341
71$3,074,312$699,928$346,299$2,120,925
72$3,304,402$650,734$274,409$2,234,047
73$3,555,330$596,499$197,482$2,357,731
74$3,829,141$536,894$115,264$2,493,111
75$4,128,082$471,571$27,494$2,641,438
76$4,454,628$400,160$0$2,804,100
77$4,811,505$322,273$0$3,002,401
78$5,201,712$237,498$0$3,228,316
79$5,628,552$145,401$0$3,475,589
80$6,095,663$45,524$0$3,746,387
81$6,607,048$0$0$4,043,097
82$7,167,118$0$0$4,379,381
83$7,780,729$0$0$4,756,680
84$8,453,229$0$0$5,170,277
85$9,190,508$0$0$5,623,805
86$9,999,054$0$0$6,121,268
87$10,886,011$0$0$6,667,073
88$11,859,250$0$0$7,266,075
89$12,927,440$0$0$7,923,622
90$14,100,130$0$0$8,645,606
91$15,387,837$0$0$9,438,517
92$16,802,150$0$0$10,309,502
93$18,355,833$0$0$11,266,438
94$20,062,947$0$0$12,318,001
95$21,938,983$0$0$13,473,748
96$24,001,008$0$0$14,744,210
97$26,267,823$0$0$16,140,988
98$28,760,143$0$0$17,676,862
99$31,500,789$0$0$19,365,914
100$34,514,905$0$0$21,223,659