Can I retire at age 54 with 960,000?

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 $960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$79,276$78,570$77,881$77,208$76,552$75,689
2 years$39,245$38,515$37,806$37,119$36,453$35,585
3 years$25,904$25,170$24,463$23,783$23,127$22,280
4 years$19,234$18,502$17,803$17,134$16,495$15,675
5 years$15,234$14,506$13,816$13,161$12,539$11,750
6 years$12,567$11,845$11,165$10,525$9,922$9,163
7 years$10,664$9,948$9,278$8,653$8,069$7,342
8 years$9,236$8,527$7,869$7,259$6,694$5,998
9 years$8,127$7,424$6,777$6,183$5,637$4,973
10 years$7,240$6,544$5,909$5,330$4,803$4,169
11 years$6,515$5,826$5,202$4,638$4,131$3,527
12 years$5,911$5,229$4,617$4,068$3,580$3,005
13 years$5,400$4,725$4,125$3,592$3,122$2,576
14 years$4,963$4,295$3,706$3,188$2,736$2,219
15 years$4,584$3,924$3,346$2,844$2,409$1,919
16 years$4,253$3,600$3,034$2,546$2,129$1,665
17 years$3,961$3,316$2,760$2,288$1,888$1,449
18 years$3,702$3,064$2,520$2,062$1,679$1,264
19 years$3,471$2,839$2,307$1,863$1,496$1,106
20 years$3,263$2,639$2,117$1,687$1,337$968
21 years$3,075$2,458$1,947$1,531$1,196$850
22 years$2,904$2,294$1,795$1,392$1,072$746
23 years$2,748$2,146$1,657$1,268$962$657
24 years$2,606$2,010$1,533$1,156$865$578
25 years$2,475$1,887$1,420$1,056$778$510
26 years$2,354$1,773$1,317$966$701$449
27 years$2,243$1,669$1,223$884$632$397
28 years$2,140$1,572$1,136$810$570$350
29 years$2,044$1,483$1,058$743$515$310
30 years$1,954$1,401$985$682$465$274
31 years$1,871$1,324$918$626$421$242
32 years$1,792$1,253$857$575$381$214
33 years$1,719$1,187$800$529$344$190
34 years$1,650$1,125$748$487$312$168
35 years$1,586$1,067$699$448$282$149
36 years$1,525$1,013$654$413$256$132
37 years$1,467$962$612$380$232$117
38 years$1,413$914$573$350$210$103
39 years$1,361$869$537$323$191$92
40 years$1,312$827$503$298$173$81
41 years$1,266$787$472$275$157$72
42 years$1,222$750$443$254$142$64
43 years$1,180$714$415$234$129$57
44 years$1,141$681$390$216$117$50
45 years$1,103$649$366$200$106$44
46 years$1,067$619$344$185$97$39
47 years$1,032$591$323$170$88$35
48 years$999$564$304$158$80$31
49 years$967$539$285$146$72$28
50 years$937$515$268$135$66$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $960,000, adding $5,589 every year, while hoping to spend $38,908 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: 62/20/18 Blend
53$960,000$960,000$960,000$960,000
54$1,063,685$1,012,805$997,925$1,124,427
55$1,130,783$1,021,035$989,958$1,174,244
56$1,203,421$1,028,364$980,419$1,223,740
57$1,282,123$1,034,706$969,217$1,276,865
58$1,367,465$1,039,973$956,251$1,333,977
59$1,460,081$1,044,066$941,420$1,395,469
60$1,560,668$1,046,883$924,615$1,461,775
61$1,669,991$1,048,316$905,725$1,533,376
62$1,788,895$1,048,248$884,632$1,610,802
63$1,918,306$1,046,556$861,211$1,694,637
64$2,059,247$1,043,111$835,335$1,785,529
65$2,212,839$1,037,772$806,868$1,884,190
66$2,380,320$1,030,394$775,669$1,991,408
67$2,563,049$1,020,820$741,591$2,108,053
68$2,762,525$1,008,885$704,479$2,235,085
69$2,980,396$994,414$664,172$2,373,563
70$3,218,477$977,221$620,502$2,524,657
71$3,478,765$957,108$573,293$2,689,659
72$3,763,461$933,868$522,360$2,869,993
73$4,074,986$907,280$467,512$3,067,233
74$4,416,008$877,111$408,547$3,283,114
75$4,789,464$843,112$345,256$3,519,553
76$5,198,587$805,022$277,420$3,778,663
77$5,646,940$762,565$204,811$4,062,779
78$6,138,445$715,448$127,189$4,374,473
79$6,677,422$663,361$44,305$4,716,588
80$7,268,630$605,976$0$5,092,256
81$7,917,309$542,948$0$5,513,415
82$8,629,233$473,911$0$5,985,034
83$9,410,761$398,478$0$6,502,857
84$10,268,897$316,242$0$7,071,584
85$11,211,357$226,770$0$7,696,396
86$12,246,641$129,608$0$8,383,006
87$13,384,114$24,274$0$9,137,709
88$14,634,091$0$0$9,967,447
89$16,007,937$0$0$10,899,622
90$17,518,172$0$0$11,930,289
91$19,178,590$0$0$13,063,530
92$21,004,388$0$0$14,309,726
93$23,012,309$0$0$15,680,317
94$25,220,800$0$0$17,187,904
95$27,650,186$0$0$18,846,374
96$30,322,861$0$0$20,671,024
97$33,263,498$0$0$22,678,711
98$36,499,283$0$0$24,888,009
99$40,060,169$0$0$27,319,382
100$43,979,162$0$0$29,995,378