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%13.5%
1 years$79,111$78,406$77,719$77,048$76,392$75,282
2 years$39,164$38,434$37,727$37,042$36,377$35,261
3 years$25,850$25,117$24,412$23,733$23,079$21,991
4 years$19,194$18,464$17,766$17,098$16,460$15,410
5 years$15,202$14,476$13,787$13,133$12,513$11,502
6 years$12,541$11,821$11,142$10,503$9,901$8,932
7 years$10,641$9,927$9,259$8,635$8,052$7,125
8 years$9,217$8,509$7,852$7,244$6,680$5,794
9 years$8,110$7,409$6,763$6,170$5,626$4,781
10 years$7,225$6,531$5,896$5,319$4,793$3,989
11 years$6,501$5,814$5,191$4,629$4,122$3,358
12 years$5,898$5,218$4,607$4,060$3,572$2,847
13 years$5,389$4,716$4,116$3,584$3,115$2,427
14 years$4,952$4,286$3,698$3,182$2,731$2,079
15 years$4,575$3,916$3,339$2,838$2,404$1,788
16 years$4,244$3,593$3,027$2,541$2,125$1,543
17 years$3,953$3,309$2,755$2,283$1,884$1,336
18 years$3,695$3,057$2,515$2,057$1,675$1,159
19 years$3,464$2,833$2,302$1,859$1,493$1,007
20 years$3,256$2,633$2,113$1,684$1,334$877
21 years$3,068$2,453$1,943$1,528$1,194$765
22 years$2,898$2,289$1,791$1,389$1,070$668
23 years$2,743$2,141$1,654$1,265$960$584
24 years$2,600$2,006$1,529$1,154$863$511
25 years$2,470$1,883$1,417$1,054$777$448
26 years$2,350$1,769$1,314$964$700$392
27 years$2,238$1,665$1,220$882$631$344
28 years$2,135$1,569$1,134$808$569$302
29 years$2,039$1,480$1,055$741$514$265
30 years$1,950$1,398$983$680$464$233
31 years$1,867$1,322$916$625$420$205
32 years$1,789$1,250$855$574$380$180
33 years$1,716$1,184$798$528$344$158
34 years$1,647$1,122$746$486$311$139
35 years$1,582$1,065$697$447$282$122
36 years$1,522$1,010$652$412$255$108
37 years$1,464$960$611$379$231$95
38 years$1,410$912$572$350$210$83
39 years$1,358$867$536$322$190$73
40 years$1,310$825$502$297$173$65
41 years$1,264$785$471$274$157$57
42 years$1,220$748$442$253$142$50
43 years$1,178$713$414$234$129$44
44 years$1,138$679$389$216$117$39
45 years$1,100$648$365$199$106$34
46 years$1,064$618$343$184$96$30
47 years$1,030$590$322$170$88$27
48 years$997$563$303$157$80$23
49 years$965$538$285$145$72$21
50 years$935$514$268$134$66$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $958,000, adding $2,265 every year, while hoping to spend $53,754 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: 43/39/18 Blend
53$958,000$958,000$958,000$958,000
54$1,058,052$1,007,278$992,429$1,097,917
55$1,108,780$999,441$968,482$1,118,401
56$1,162,880$989,418$941,931$1,135,121
57$1,220,640$977,046$912,631$1,152,107
58$1,282,374$962,151$880,434$1,169,410
59$1,348,429$944,548$845,180$1,187,087
60$1,419,181$924,043$806,706$1,205,208
61$1,495,046$900,430$764,840$1,223,854
62$1,576,479$873,490$719,401$1,243,117
63$1,663,980$842,991$670,201$1,263,105
64$1,758,097$808,689$617,044$1,283,940
65$1,859,433$770,324$559,724$1,305,765
66$1,968,648$727,623$498,028$1,328,740
67$2,086,469$680,295$431,730$1,353,050
68$2,213,693$628,034$360,598$1,378,904
69$2,351,199$570,516$284,387$1,406,540
70$2,499,948$507,399$202,841$1,436,226
71$2,661,002$438,320$115,695$1,468,268
72$2,835,523$362,897$22,670$1,503,009
73$3,024,794$280,726$0$1,540,838
74$3,230,221$191,381$0$1,596,902
75$3,453,355$94,409$0$1,662,584
76$3,695,898$0$0$1,734,137
77$3,959,725$0$0$1,816,820
78$4,246,898$0$0$1,951,024
79$4,559,686$0$0$2,097,308
80$4,900,586$0$0$2,256,851
81$5,272,345$0$0$2,430,955
82$5,677,989$0$0$2,621,050
83$6,120,847$0$0$2,828,713
84$6,604,582$0$0$3,055,677
85$7,133,230$0$0$3,303,852
86$7,711,232$0$0$3,575,340
87$8,343,478$0$0$3,872,457
88$9,035,353$0$0$4,197,752
89$9,792,785$0$0$4,554,031
90$10,622,305$0$0$4,944,386
91$11,531,100$0$0$5,372,221
92$12,527,091$0$0$5,841,286
93$13,618,997$0$0$6,355,711
94$14,816,422$0$0$6,920,042
95$16,129,946$0$0$7,539,292
96$17,571,221$0$0$8,218,977
97$19,153,080$0$0$8,965,176
98$20,889,661$0$0$9,784,585
99$22,796,536$0$0$10,684,580
100$24,890,861$0$0$11,673,286