Can I retire at age 54 with 962,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$79,441$78,733$78,043$77,369$76,711$74,735
2 years$39,327$38,595$37,885$37,197$36,529$34,552
3 years$25,958$25,222$24,514$23,832$23,176$21,258
4 years$19,274$18,541$17,840$17,170$16,529$14,687
5 years$15,265$14,536$13,845$13,188$12,565$10,803
6 years$12,593$11,870$11,188$10,547$9,942$8,262
7 years$10,686$9,968$9,298$8,671$8,086$6,487
8 years$9,256$8,545$7,885$7,274$6,708$5,191
9 years$8,144$7,440$6,791$6,196$5,649$4,212
10 years$7,255$6,558$5,921$5,341$4,813$3,454
11 years$6,528$5,838$5,213$4,648$4,140$2,856
12 years$5,923$5,240$4,626$4,077$3,587$2,378
13 years$5,411$4,735$4,133$3,599$3,128$1,990
14 years$4,973$4,304$3,714$3,195$2,742$1,673
15 years$4,594$3,932$3,353$2,849$2,414$1,411
16 years$4,262$3,608$3,040$2,551$2,134$1,194
17 years$3,970$3,322$2,766$2,292$1,892$1,013
18 years$3,710$3,070$2,525$2,066$1,682$861
19 years$3,478$2,845$2,312$1,867$1,499$733
20 years$3,270$2,644$2,122$1,691$1,339$625
21 years$3,081$2,463$1,951$1,534$1,199$534
22 years$2,910$2,299$1,799$1,395$1,074$456
23 years$2,754$2,150$1,661$1,271$964$390
24 years$2,611$2,015$1,536$1,159$867$334
25 years$2,480$1,891$1,422$1,058$780$286
26 years$2,359$1,777$1,319$968$703$245
27 years$2,248$1,672$1,225$886$633$210
28 years$2,144$1,576$1,139$812$572$180
29 years$2,048$1,486$1,060$744$516$155
30 years$1,958$1,404$987$683$466$133
31 years$1,875$1,327$920$627$422$114
32 years$1,796$1,256$859$576$381$98
33 years$1,723$1,189$802$530$345$84
34 years$1,654$1,127$749$488$312$72
35 years$1,589$1,069$700$449$283$62
36 years$1,528$1,015$655$414$256$53
37 years$1,470$964$613$381$232$46
38 years$1,416$916$574$351$211$39
39 years$1,364$871$538$324$191$34
40 years$1,315$829$504$299$173$29
41 years$1,269$789$473$276$157$25
42 years$1,225$751$444$254$143$21
43 years$1,183$716$416$235$129$18
44 years$1,143$682$391$217$118$16
45 years$1,105$651$367$200$107$14
46 years$1,069$621$345$185$97$12
47 years$1,034$592$324$171$88$10
48 years$1,001$565$304$158$80$9
49 years$969$540$286$146$73$7
50 years$939$516$269$135$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $962,000, adding $4,004 every year, while hoping to spend $46,055 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: 60/18/22 Blend
53$962,000$962,000$962,000$962,000
54$1,064,254$1,013,268$998,357$1,121,687
55$1,123,806$1,013,916$982,800$1,161,760
56$1,187,888$1,013,052$965,178$1,200,081
57$1,256,915$1,010,554$945,374$1,240,870
58$1,331,340$1,006,291$923,263$1,284,374
59$1,411,662$1,000,125$898,718$1,330,869
60$1,498,430$991,909$871,604$1,380,659
61$1,592,246$981,488$841,778$1,434,081
62$1,693,771$968,698$809,094$1,491,507
63$1,803,735$953,362$773,397$1,553,351
64$1,922,936$935,298$734,526$1,620,071
65$2,052,255$914,307$692,313$1,692,173
66$2,192,660$890,183$646,580$1,770,219
67$2,345,216$862,706$597,145$1,854,828
68$2,511,092$831,643$543,813$1,946,687
69$2,691,578$796,748$486,385$2,046,557
70$2,888,090$757,760$424,651$2,155,277
71$3,102,189$714,403$358,390$2,273,777
72$3,335,590$666,387$287,374$2,403,085
73$3,590,183$613,403$211,364$2,544,337
74$3,868,047$555,125$130,110$2,698,791
75$4,171,471$491,210$43,352$2,867,835
76$4,502,974$421,292$0$3,053,005
77$4,865,329$344,987$0$3,267,556
78$5,261,591$261,890$0$3,513,416
79$5,695,121$171,570$0$3,782,540
80$6,169,623$73,576$0$4,077,289
81$6,689,172$0$0$4,400,269
82$7,258,257$0$0$4,760,804
83$7,881,823$0$0$5,171,898
84$8,565,315$0$0$5,622,576
85$9,314,728$0$0$6,116,803
86$10,136,668$0$0$6,658,943
87$11,038,408$0$0$7,253,806
88$12,027,962$0$0$7,906,688
89$13,114,154$0$0$8,623,423
90$14,306,708$0$0$9,410,439
91$15,616,331$0$0$10,274,813
92$17,054,822$0$0$11,224,346
93$18,635,176$0$0$12,267,629
94$20,371,710$0$0$13,414,126
95$22,280,197$0$0$14,674,264
96$24,378,012$0$0$16,059,532
97$26,684,300$0$0$17,582,584
98$29,220,150$0$0$19,257,364
99$32,008,800$0$0$21,099,235
100$35,075,850$0$0$23,125,121