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%15.3%
1 years$79,276$78,570$77,881$77,208$76,552$74,884
2 years$39,245$38,515$37,806$37,119$36,453$34,781
3 years$25,904$25,170$24,463$23,783$23,127$21,503
4 years$19,234$18,502$17,803$17,134$16,495$14,931
5 years$15,234$14,506$13,816$13,161$12,539$11,041
6 years$12,567$11,845$11,165$10,525$9,922$8,490
7 years$10,664$9,948$9,278$8,653$8,069$6,704
8 years$9,236$8,527$7,869$7,259$6,694$5,396
9 years$8,127$7,424$6,777$6,183$5,637$4,404
10 years$7,240$6,544$5,909$5,330$4,803$3,635
11 years$6,515$5,826$5,202$4,638$4,131$3,025
12 years$5,911$5,229$4,617$4,068$3,580$2,535
13 years$5,400$4,725$4,125$3,592$3,122$2,136
14 years$4,963$4,295$3,706$3,188$2,736$1,808
15 years$4,584$3,924$3,346$2,844$2,409$1,536
16 years$4,253$3,600$3,034$2,546$2,129$1,309
17 years$3,961$3,316$2,760$2,288$1,888$1,118
18 years$3,702$3,064$2,520$2,062$1,679$957
19 years$3,471$2,839$2,307$1,863$1,496$821
20 years$3,263$2,639$2,117$1,687$1,337$705
21 years$3,075$2,458$1,947$1,531$1,196$607
22 years$2,904$2,294$1,795$1,392$1,072$523
23 years$2,748$2,146$1,657$1,268$962$451
24 years$2,606$2,010$1,533$1,156$865$389
25 years$2,475$1,887$1,420$1,056$778$336
26 years$2,354$1,773$1,317$966$701$290
27 years$2,243$1,669$1,223$884$632$251
28 years$2,140$1,572$1,136$810$570$217
29 years$2,044$1,483$1,058$743$515$188
30 years$1,954$1,401$985$682$465$162
31 years$1,871$1,324$918$626$421$140
32 years$1,792$1,253$857$575$381$122
33 years$1,719$1,187$800$529$344$105
34 years$1,650$1,125$748$487$312$91
35 years$1,586$1,067$699$448$282$79
36 years$1,525$1,013$654$413$256$69
37 years$1,467$962$612$380$232$59
38 years$1,413$914$573$350$210$51
39 years$1,361$869$537$323$191$45
40 years$1,312$827$503$298$173$39
41 years$1,266$787$472$275$157$34
42 years$1,222$750$443$254$142$29
43 years$1,180$714$415$234$129$25
44 years$1,141$681$390$216$117$22
45 years$1,103$649$366$200$106$19
46 years$1,067$619$344$185$97$16
47 years$1,032$591$323$170$88$14
48 years$999$564$304$158$80$12
49 years$967$539$285$146$72$11
50 years$937$515$268$135$66$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $960,000, adding $4,545 every year, while hoping to spend $45,383 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: 39/31/30 Blend
53$960,000$960,000$960,000$960,000
54$1,062,608$1,011,728$996,848$1,094,460
55$1,122,707$1,013,016$981,955$1,119,535
56$1,187,415$1,012,845$965,043$1,142,144
57$1,257,154$1,011,098$945,994$1,165,745
58$1,332,388$1,007,646$924,690$1,190,456
59$1,413,627$1,002,355$901,002$1,216,415
60$1,501,430$995,084$874,799$1,243,774
61$1,596,413$985,680$845,941$1,272,706
62$1,699,252$973,983$814,285$1,303,404
63$1,810,691$959,823$779,679$1,336,087
64$1,931,547$943,020$741,964$1,370,997
65$2,062,719$923,383$700,974$1,408,409
66$2,205,197$900,710$656,538$1,448,627
67$2,360,069$874,786$608,473$1,491,994
68$2,528,530$845,385$556,591$1,538,892
69$2,711,898$812,266$500,695$1,589,748
70$2,911,622$775,177$440,578$1,645,037
71$3,129,295$733,849$376,025$1,705,292
72$3,366,673$687,997$306,812$1,771,105
73$3,625,686$637,322$232,703$1,843,134
74$3,908,460$581,505$153,452$1,922,115
75$4,217,335$520,211$68,806$2,008,865
76$4,554,888$453,085$0$2,104,293
77$4,923,953$379,753$0$2,216,300
78$5,327,653$299,819$0$2,363,071
79$5,769,427$212,863$0$2,523,899
80$6,253,060$118,445$0$2,700,266
81$6,782,721$16,097$0$2,893,812
82$7,363,001$0$0$3,106,349
83$7,998,955$0$0$3,372,174
84$8,696,151$0$0$3,669,749
85$9,460,723$0$0$3,996,214
86$10,299,424$0$0$4,354,472
87$11,219,694$0$0$4,747,717
88$12,229,729$0$0$5,179,470
89$13,338,554$0$0$5,653,607
90$14,556,113$0$0$6,174,400
91$15,893,360$0$0$6,746,554
92$17,362,360$0$0$7,375,252
93$18,976,407$0$0$8,066,204
94$20,750,143$0$0$8,825,702
95$22,699,702$0$0$9,660,677
96$24,842,857$0$0$10,578,763
97$27,199,189$0$0$11,588,374
98$29,790,271$0$0$12,698,779
99$32,639,872$0$0$13,920,189
100$35,774,178$0$0$15,263,856