Can I retire at age 54 with 961,000?

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 $961,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$79,358$78,652$77,962$77,289$76,631$73,562
2 years$39,286$38,555$37,846$37,158$36,491$33,437
3 years$25,931$25,196$24,489$23,808$23,152$20,209
4 years$19,254$18,522$17,821$17,152$16,512$13,704
5 years$15,249$14,521$13,830$13,174$12,552$9,885
6 years$12,580$11,858$11,177$10,536$9,932$7,408
7 years$10,675$9,958$9,288$8,662$8,077$5,695
8 years$9,246$8,536$7,877$7,266$6,701$4,459
9 years$8,135$7,432$6,784$6,189$5,643$3,537
10 years$7,248$6,551$5,915$5,335$4,808$2,834
11 years$6,522$5,832$5,207$4,643$4,135$2,288
12 years$5,917$5,234$4,621$4,073$3,584$1,859
13 years$5,406$4,730$4,129$3,596$3,125$1,517
14 years$4,968$4,300$3,710$3,192$2,739$1,243
15 years$4,589$3,928$3,349$2,847$2,412$1,021
16 years$4,258$3,604$3,037$2,549$2,132$841
17 years$3,966$3,319$2,763$2,290$1,890$694
18 years$3,706$3,067$2,523$2,064$1,681$574
19 years$3,474$2,842$2,309$1,865$1,498$475
20 years$3,266$2,641$2,119$1,689$1,338$394
21 years$3,078$2,460$1,949$1,533$1,197$327
22 years$2,907$2,297$1,797$1,394$1,073$271
23 years$2,751$2,148$1,659$1,269$963$225
24 years$2,609$2,012$1,534$1,158$866$187
25 years$2,478$1,889$1,421$1,057$779$156
26 years$2,357$1,775$1,318$967$702$130
27 years$2,245$1,670$1,224$885$633$108
28 years$2,142$1,574$1,138$811$571$90
29 years$2,046$1,485$1,059$743$516$75
30 years$1,956$1,402$986$682$466$62
31 years$1,873$1,326$919$627$421$52
32 years$1,794$1,254$858$576$381$43
33 years$1,721$1,188$801$530$345$36
34 years$1,652$1,126$748$487$312$30
35 years$1,587$1,068$700$449$283$25
36 years$1,526$1,014$654$413$256$21
37 years$1,469$963$613$381$232$17
38 years$1,414$915$574$351$211$14
39 years$1,363$870$537$323$191$12
40 years$1,314$828$504$298$173$10
41 years$1,268$788$472$275$157$8
42 years$1,223$750$443$254$143$7
43 years$1,182$715$416$235$129$6
44 years$1,142$681$390$217$117$5
45 years$1,104$650$366$200$107$4
46 years$1,068$620$344$185$97$3
47 years$1,033$592$323$171$88$3
48 years$1,000$565$304$158$80$2
49 years$968$539$286$146$72$2
50 years$938$515$269$135$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $961,000, adding $4,408 every year, while hoping to spend $58,211 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: 43/27/30 Blend
53$961,000$961,000$961,000$961,000
54$1,063,569$1,012,636$997,740$1,099,836
55$1,110,117$1,000,319$969,229$1,114,028
56$1,159,462$985,448$937,811$1,123,588
57$1,211,827$967,835$903,328$1,132,858
58$1,267,458$947,284$865,614$1,141,844
59$1,326,623$923,584$824,496$1,150,563
60$1,389,613$896,514$779,791$1,159,032
61$1,456,750$865,840$731,311$1,167,279
62$1,528,385$831,313$678,856$1,175,339
63$1,604,903$792,670$622,220$1,183,256
64$1,686,725$749,633$561,187$1,191,083
65$1,774,314$701,908$495,529$1,198,887
66$1,868,176$649,184$425,012$1,206,746
67$1,968,869$591,132$349,388$1,214,756
68$2,077,001$527,405$268,401$1,223,026
69$2,193,243$457,636$181,780$1,231,687
70$2,318,330$381,436$89,246$1,240,890
71$2,453,069$298,396$0$1,250,812
72$2,598,347$208,082$0$1,264,698
73$2,755,138$110,038$0$1,310,423
74$2,924,512$3,780$0$1,359,759
75$3,107,646$0$0$1,413,118
76$3,305,831$0$0$1,503,998
77$3,520,489$0$0$1,603,747
78$3,753,182$0$0$1,711,980
79$4,005,628$0$0$1,829,510
80$4,279,717$0$0$1,957,229
81$4,577,527$0$0$2,096,120
82$4,901,343$0$0$2,247,264
83$5,253,682$0$0$2,411,852
84$5,637,309$0$0$2,591,192
85$6,055,271$0$0$2,786,724
86$6,510,918$0$0$3,000,034
87$7,007,939$0$0$3,232,867
88$7,550,392$0$0$3,487,145
89$8,142,746$0$0$3,764,981
90$8,789,919$0$0$4,068,704
91$9,497,328$0$0$4,400,878
92$10,270,934$0$0$4,764,324
93$11,117,302$0$0$5,162,150
94$12,043,659$0$0$5,597,777
95$13,057,965$0$0$6,074,976
96$14,168,984$0$0$6,597,894
97$15,386,369$0$0$7,171,103
98$16,720,750$0$0$7,799,637
99$18,183,835$0$0$8,489,039
100$19,788,517$0$0$9,245,416