Can I retire at age 54 with 958,000?

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 $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%16.4%
1 years$79,111$78,406$77,719$77,048$76,392$74,395
2 years$39,164$38,434$37,727$37,042$36,377$34,378
3 years$25,850$25,117$24,412$23,733$23,079$21,141
4 years$19,194$18,464$17,766$17,098$16,460$14,599
5 years$15,202$14,476$13,787$13,133$12,513$10,732
6 years$12,541$11,821$11,142$10,503$9,901$8,204
7 years$10,641$9,927$9,259$8,635$8,052$6,438
8 years$9,217$8,509$7,852$7,244$6,680$5,148
9 years$8,110$7,409$6,763$6,170$5,626$4,175
10 years$7,225$6,531$5,896$5,319$4,793$3,421
11 years$6,501$5,814$5,191$4,629$4,122$2,828
12 years$5,898$5,218$4,607$4,060$3,572$2,352
13 years$5,389$4,716$4,116$3,584$3,115$1,968
14 years$4,952$4,286$3,698$3,182$2,731$1,653
15 years$4,575$3,916$3,339$2,838$2,404$1,393
16 years$4,244$3,593$3,027$2,541$2,125$1,178
17 years$3,953$3,309$2,755$2,283$1,884$998
18 years$3,695$3,057$2,515$2,057$1,675$848
19 years$3,464$2,833$2,302$1,859$1,493$721
20 years$3,256$2,633$2,113$1,684$1,334$615
21 years$3,068$2,453$1,943$1,528$1,194$524
22 years$2,898$2,289$1,791$1,389$1,070$448
23 years$2,743$2,141$1,654$1,265$960$383
24 years$2,600$2,006$1,529$1,154$863$327
25 years$2,470$1,883$1,417$1,054$777$280
26 years$2,350$1,769$1,314$964$700$240
27 years$2,238$1,665$1,220$882$631$206
28 years$2,135$1,569$1,134$808$569$176
29 years$2,039$1,480$1,055$741$514$151
30 years$1,950$1,398$983$680$464$130
31 years$1,867$1,322$916$625$420$111
32 years$1,789$1,250$855$574$380$95
33 years$1,716$1,184$798$528$344$82
34 years$1,647$1,122$746$486$311$70
35 years$1,582$1,065$697$447$282$60
36 years$1,522$1,010$652$412$255$52
37 years$1,464$960$611$379$231$44
38 years$1,410$912$572$350$210$38
39 years$1,358$867$536$322$190$33
40 years$1,310$825$502$297$173$28
41 years$1,264$785$471$274$157$24
42 years$1,220$748$442$253$142$21
43 years$1,178$713$414$234$129$18
44 years$1,138$679$389$216$117$15
45 years$1,100$648$365$199$106$13
46 years$1,064$618$343$184$96$11
47 years$1,030$590$322$170$88$10
48 years$997$563$303$157$80$8
49 years$965$538$285$145$72$7
50 years$935$514$268$134$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $958,000, adding $4,393 every year, while hoping to spend $35,775 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: 75/5/20 Blend
53$958,000$958,000$958,000$958,000
54$1,060,247$1,009,473$994,624$1,134,442
55$1,130,328$1,020,873$989,880$1,195,630
56$1,206,358$1,031,633$983,778$1,257,874
57$1,288,907$1,041,683$976,234$1,325,174
58$1,378,599$1,050,949$967,162$1,398,025
59$1,476,125$1,059,354$956,470$1,476,973
60$1,582,240$1,066,813$944,063$1,562,621
61$1,697,779$1,073,237$929,839$1,655,631
62$1,823,659$1,078,532$913,695$1,756,735
63$1,960,889$1,082,597$895,521$1,866,739
64$2,110,580$1,085,324$875,201$1,986,533
65$2,273,954$1,086,600$852,615$2,117,096
66$2,452,357$1,086,303$827,637$2,259,508
67$2,647,270$1,084,305$800,136$2,414,959
68$2,860,326$1,080,470$769,974$2,584,763
69$3,093,318$1,074,652$737,008$2,770,365
70$3,348,225$1,066,698$701,086$2,973,362
71$3,627,223$1,056,446$662,051$3,195,511
72$3,932,709$1,043,721$619,740$3,438,751
73$4,267,324$1,028,342$573,979$3,705,219
74$4,633,974$1,010,113$524,590$3,997,269
75$5,035,860$988,830$471,385$4,317,500
76$5,476,510$964,274$414,168$4,668,773
77$5,959,806$936,216$352,735$5,054,244
78$6,490,025$904,410$286,871$5,477,392
79$7,071,881$868,599$216,354$5,942,051
80$7,710,562$828,509$140,951$6,452,448
81$8,411,784$783,852$60,418$7,013,243
82$9,181,846$734,320$0$7,629,572
83$10,027,684$679,592$0$8,312,545
84$10,956,940$619,324$0$9,077,068
85$11,978,033$553,156$0$9,917,174
86$13,100,237$480,705$0$10,840,508
87$14,333,770$401,568$0$11,855,492
88$15,689,888$315,319$0$12,971,409
89$17,180,994$221,507$0$14,198,484
90$18,820,751$119,656$0$15,547,984
91$20,624,213$9,265$0$17,032,326
92$22,607,966$0$0$18,665,188
93$24,790,285$0$0$20,467,709
94$27,191,303$0$0$22,451,475
95$29,833,207$0$0$24,634,311
96$32,740,439$0$0$27,036,419
97$35,939,932$0$0$29,680,058
98$39,461,362$0$0$32,589,755
99$43,337,429$0$0$35,792,535
100$47,604,161$0$0$39,318,174