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%11.9%
1 years$79,111$78,406$77,719$77,048$76,392$75,784
2 years$39,164$38,434$37,727$37,042$36,377$35,764
3 years$25,850$25,117$24,412$23,733$23,079$22,480
4 years$19,194$18,464$17,766$17,098$16,460$15,880
5 years$15,202$14,476$13,787$13,133$12,513$11,953
6 years$12,541$11,821$11,142$10,503$9,901$9,362
7 years$10,641$9,927$9,259$8,635$8,052$7,535
8 years$9,217$8,509$7,852$7,244$6,680$6,184
9 years$8,110$7,409$6,763$6,170$5,626$5,151
10 years$7,225$6,531$5,896$5,319$4,793$4,339
11 years$6,501$5,814$5,191$4,629$4,122$3,689
12 years$5,898$5,218$4,607$4,060$3,572$3,159
13 years$5,389$4,716$4,116$3,584$3,115$2,722
14 years$4,952$4,286$3,698$3,182$2,731$2,357
15 years$4,575$3,916$3,339$2,838$2,404$2,049
16 years$4,244$3,593$3,027$2,541$2,125$1,788
17 years$3,953$3,309$2,755$2,283$1,884$1,565
18 years$3,695$3,057$2,515$2,057$1,675$1,373
19 years$3,464$2,833$2,302$1,859$1,493$1,208
20 years$3,256$2,633$2,113$1,684$1,334$1,064
21 years$3,068$2,453$1,943$1,528$1,194$939
22 years$2,898$2,289$1,791$1,389$1,070$830
23 years$2,743$2,141$1,654$1,265$960$735
24 years$2,600$2,006$1,529$1,154$863$651
25 years$2,470$1,883$1,417$1,054$777$577
26 years$2,350$1,769$1,314$964$700$512
27 years$2,238$1,665$1,220$882$631$455
28 years$2,135$1,569$1,134$808$569$405
29 years$2,039$1,480$1,055$741$514$360
30 years$1,950$1,398$983$680$464$320
31 years$1,867$1,322$916$625$420$285
32 years$1,789$1,250$855$574$380$254
33 years$1,716$1,184$798$528$344$226
34 years$1,647$1,122$746$486$311$202
35 years$1,582$1,065$697$447$282$180
36 years$1,522$1,010$652$412$255$160
37 years$1,464$960$611$379$231$143
38 years$1,410$912$572$350$210$128
39 years$1,358$867$536$322$190$114
40 years$1,310$825$502$297$173$102
41 years$1,264$785$471$274$157$91
42 years$1,220$748$442$253$142$81
43 years$1,178$713$414$234$129$72
44 years$1,138$679$389$216$117$65
45 years$1,100$648$365$199$106$58
46 years$1,064$618$343$184$96$51
47 years$1,030$590$322$170$88$46
48 years$997$563$303$157$80$41
49 years$965$538$285$145$72$37
50 years$935$514$268$134$66$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $958,000, adding $5,993 every year, while hoping to spend $35,203 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: 60/25/15 Blend
53$958,000$958,000$958,000$958,000
54$1,061,898$1,011,124$996,275$1,121,256
55$1,132,756$1,023,213$992,194$1,174,070
56$1,209,661$1,034,715$986,797$1,227,192
57$1,293,194$1,045,563$980,002$1,284,311
58$1,383,992$1,055,688$971,724$1,345,817
59$1,482,756$1,065,014$961,874$1,412,140
60$1,590,259$1,073,461$950,359$1,483,756
61$1,707,349$1,080,944$937,079$1,561,188
62$1,834,961$1,087,373$921,934$1,645,015
63$1,974,124$1,092,651$904,815$1,735,874
64$2,125,969$1,096,675$885,611$1,834,471
65$2,291,742$1,099,337$864,204$1,941,582
66$2,472,816$1,100,521$840,471$2,058,066
67$2,670,699$1,100,103$814,283$2,184,867
68$2,887,055$1,097,952$785,506$2,323,031
69$3,123,713$1,093,931$753,999$2,473,709
70$3,382,690$1,087,891$719,615$2,638,172
71$3,666,203$1,079,676$682,201$2,817,824
72$3,976,696$1,069,121$641,596$3,014,212
73$4,316,861$1,056,049$597,631$3,229,042
74$4,689,660$1,040,276$550,131$3,464,198
75$5,098,359$1,021,602$498,914$3,721,760
76$5,546,550$999,820$443,786$4,004,017
77$6,038,195$974,707$384,549$4,313,501
78$6,577,652$946,029$320,993$4,653,000
79$7,169,727$913,539$252,901$5,025,592
80$7,819,709$876,972$180,043$5,434,671
81$8,533,428$836,052$102,183$5,883,982
82$9,317,304$790,485$19,072$6,377,653
83$10,178,409$739,959$0$6,920,241
84$11,124,535$684,145$0$7,527,911
85$12,164,265$622,696$0$8,199,044
86$13,307,057$555,245$0$8,936,740
87$14,563,327$481,403$0$9,747,784
88$15,944,554$400,759$0$10,639,659
89$17,463,383$312,880$0$11,620,611
90$19,133,745$217,309$0$12,699,732
91$20,970,992$113,561$0$13,887,044
92$22,992,033$1,126$0$15,193,595
93$25,215,504$0$0$16,631,564
94$27,661,935$0$0$18,247,535
95$30,353,948$0$0$20,026,154
96$33,316,466$0$0$21,983,589
97$36,576,952$0$0$24,137,997
98$40,165,669$0$0$26,509,385
99$44,115,956$0$0$29,119,799
100$48,464,556$0$0$31,993,528