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%17.8%
1 years$79,358$78,652$77,962$77,289$76,631$74,208
2 years$39,286$38,555$37,846$37,158$36,491$34,072
3 years$25,931$25,196$24,489$23,808$23,152$20,812
4 years$19,254$18,522$17,821$17,152$16,512$14,270
5 years$15,249$14,521$13,830$13,174$12,552$10,414
6 years$12,580$11,858$11,177$10,536$9,932$7,899
7 years$10,675$9,958$9,288$8,662$8,077$6,150
8 years$9,246$8,536$7,877$7,266$6,701$4,877
9 years$8,135$7,432$6,784$6,189$5,643$3,922
10 years$7,248$6,551$5,915$5,335$4,808$3,186
11 years$6,522$5,832$5,207$4,643$4,135$2,610
12 years$5,917$5,234$4,621$4,073$3,584$2,151
13 years$5,406$4,730$4,129$3,596$3,125$1,782
14 years$4,968$4,300$3,710$3,192$2,739$1,483
15 years$4,589$3,928$3,349$2,847$2,412$1,238
16 years$4,258$3,604$3,037$2,549$2,132$1,036
17 years$3,966$3,319$2,763$2,290$1,890$869
18 years$3,706$3,067$2,523$2,064$1,681$731
19 years$3,474$2,842$2,309$1,865$1,498$615
20 years$3,266$2,641$2,119$1,689$1,338$518
21 years$3,078$2,460$1,949$1,533$1,197$437
22 years$2,907$2,297$1,797$1,394$1,073$370
23 years$2,751$2,148$1,659$1,269$963$312
24 years$2,609$2,012$1,534$1,158$866$264
25 years$2,478$1,889$1,421$1,057$779$224
26 years$2,357$1,775$1,318$967$702$189
27 years$2,245$1,670$1,224$885$633$160
28 years$2,142$1,574$1,138$811$571$136
29 years$2,046$1,485$1,059$743$516$115
30 years$1,956$1,402$986$682$466$98
31 years$1,873$1,326$919$627$421$83
32 years$1,794$1,254$858$576$381$70
33 years$1,721$1,188$801$530$345$60
34 years$1,652$1,126$748$487$312$51
35 years$1,587$1,068$700$449$283$43
36 years$1,526$1,014$654$413$256$36
37 years$1,469$963$613$381$232$31
38 years$1,414$915$574$351$211$26
39 years$1,363$870$537$323$191$22
40 years$1,314$828$504$298$173$19
41 years$1,268$788$472$275$157$16
42 years$1,223$750$443$254$143$14
43 years$1,182$715$416$235$129$12
44 years$1,142$681$390$217$117$10
45 years$1,104$650$366$200$107$8
46 years$1,068$620$344$185$97$7
47 years$1,033$592$323$171$88$6
48 years$1,000$565$304$158$80$5
49 years$968$539$286$146$72$4
50 years$938$515$269$135$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $961,000, adding $5,196 every year, while hoping to spend $59,805 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: 79/5/16 Blend
53$961,000$961,000$961,000$961,000
54$1,064,382$1,013,449$998,553$1,144,432
55$1,109,317$999,476$968,373$1,183,926
56$1,156,830$982,813$935,177$1,219,104
57$1,207,123$963,267$898,801$1,256,031
58$1,260,413$940,631$859,074$1,294,856
59$1,316,938$914,685$815,817$1,335,746
60$1,376,961$885,199$768,841$1,378,886
61$1,440,764$851,927$717,951$1,424,479
62$1,508,661$814,611$662,941$1,472,749
63$1,580,994$772,976$603,599$1,523,944
64$1,658,135$726,732$539,699$1,578,336
65$1,740,495$675,572$471,010$1,636,230
66$1,828,523$619,172$397,285$1,697,957
67$1,922,710$557,189$318,272$1,763,887
68$2,023,596$489,261$233,704$1,834,426
69$2,131,772$415,004$143,303$1,910,024
70$2,247,888$334,015$46,779$1,991,177
71$2,372,657$245,866$0$2,078,433
72$2,506,859$150,105$0$2,181,997
73$2,651,355$46,255$0$2,302,083
74$2,807,085$0$0$2,431,492
75$2,975,087$0$0$2,574,739
76$3,156,499$0$0$2,732,189
77$3,352,569$0$0$2,902,387
78$3,564,673$0$0$3,086,527
79$3,794,322$0$0$3,285,925
80$4,043,175$0$0$3,502,025
81$4,313,058$0$0$3,736,417
82$4,605,981$0$0$3,990,849
83$4,924,151$0$0$4,267,242
84$5,269,997$0$0$4,567,711
85$5,646,193$0$0$4,894,581
86$6,055,678$0$0$5,250,413
87$6,501,689$0$0$5,638,023
88$6,987,784$0$0$6,060,508
89$7,517,884$0$0$6,521,280
90$8,096,300$0$0$7,024,093
91$8,727,780$0$0$7,573,079
92$9,417,549$0$0$8,172,786
93$10,171,360$0$0$8,828,221
94$10,995,546$0$0$9,544,898
95$11,897,081$0$0$10,328,886
96$12,883,641$0$0$11,186,869
97$13,963,682$0$0$12,126,206
98$15,146,513$0$0$13,155,001
99$16,442,387$0$0$14,282,179
100$17,862,594$0$0$15,517,567