Can I retire at age 54 with 964,000?

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 $964,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$79,606$78,897$78,205$77,530$76,871$75,043
2 years$39,409$38,675$37,964$37,274$36,605$34,774
3 years$26,012$25,275$24,565$23,882$23,224$21,447
4 years$19,314$18,579$17,877$17,206$16,563$14,855
5 years$15,297$14,567$13,873$13,215$12,591$10,955
6 years$12,620$11,895$11,212$10,569$9,963$8,401
7 years$10,708$9,989$9,317$8,689$8,103$6,615
8 years$9,275$8,563$7,902$7,289$6,722$5,309
9 years$8,161$7,455$6,806$6,209$5,661$4,320
10 years$7,270$6,571$5,933$5,352$4,823$3,554
11 years$6,542$5,850$5,224$4,658$4,148$2,949
12 years$5,935$5,251$4,636$4,085$3,595$2,463
13 years$5,423$4,745$4,142$3,607$3,135$2,068
14 years$4,984$4,313$3,721$3,202$2,748$1,744
15 years$4,603$3,940$3,360$2,855$2,419$1,477
16 years$4,271$3,615$3,046$2,557$2,138$1,254
17 years$3,978$3,329$2,772$2,297$1,896$1,067
18 years$3,718$3,076$2,530$2,070$1,686$911
19 years$3,485$2,851$2,317$1,871$1,503$778
20 years$3,276$2,650$2,126$1,694$1,342$666
21 years$3,088$2,468$1,955$1,538$1,201$571
22 years$2,916$2,304$1,802$1,398$1,077$490
23 years$2,760$2,155$1,664$1,273$966$421
24 years$2,617$2,019$1,539$1,161$869$361
25 years$2,485$1,894$1,425$1,061$782$311
26 years$2,364$1,781$1,322$970$704$267
27 years$2,252$1,676$1,228$888$635$230
28 years$2,149$1,579$1,141$813$573$198
29 years$2,052$1,490$1,062$746$517$171
30 years$1,962$1,407$989$684$467$147
31 years$1,878$1,330$922$629$422$127
32 years$1,800$1,258$860$578$382$109
33 years$1,726$1,192$803$531$346$94
34 years$1,657$1,129$751$489$313$81
35 years$1,592$1,071$702$450$284$70
36 years$1,531$1,017$657$414$257$61
37 years$1,473$966$614$382$233$52
38 years$1,419$918$575$352$211$45
39 years$1,367$873$539$324$191$39
40 years$1,318$830$505$299$174$34
41 years$1,271$790$474$276$158$29
42 years$1,227$753$444$255$143$25
43 years$1,185$717$417$235$130$22
44 years$1,145$684$392$217$118$19
45 years$1,107$652$368$201$107$16
46 years$1,071$622$345$185$97$14
47 years$1,036$593$324$171$88$12
48 years$1,003$567$305$158$80$10
49 years$972$541$287$146$73$9
50 years$941$517$269$135$66$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $964,000, adding $6,119 every year, while hoping to spend $56,022 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: 46/30/24 Blend
53$964,000$964,000$964,000$964,000
54$1,068,640$1,017,548$1,002,606$1,110,184
55$1,118,034$1,007,801$976,586$1,130,293
56$1,170,589$995,698$947,817$1,146,121
57$1,226,568$981,066$916,148$1,162,172
58$1,286,258$963,719$881,419$1,178,497
59$1,349,977$943,462$843,467$1,195,152
60$1,418,069$920,086$802,118$1,212,205
61$1,490,914$893,372$757,191$1,229,733
62$1,568,928$863,088$708,497$1,247,829
63$1,652,566$828,986$655,839$1,266,596
64$1,742,329$790,808$599,011$1,286,156
65$1,838,765$748,276$537,797$1,306,646
66$1,942,478$701,100$471,971$1,328,225
67$2,054,128$648,972$401,300$1,351,073
68$2,174,442$591,565$325,537$1,375,394
69$2,304,219$528,535$244,426$1,401,422
70$2,444,334$459,518$157,699$1,429,420
71$2,595,751$384,129$65,077$1,459,685
72$2,759,529$301,963$0$1,492,556
73$2,936,831$212,589$0$1,537,058
74$3,128,936$115,554$0$1,603,318
75$3,337,251$10,380$0$1,675,215
76$3,563,323$0$0$1,753,374
77$3,808,853$0$0$1,872,635
78$4,075,713$0$0$2,006,080
79$4,365,960$0$0$2,151,323
80$4,681,860$0$0$2,309,510
81$5,025,905$0$0$2,481,903
82$5,400,837$0$0$2,669,890
83$5,809,674$0$0$2,874,999
84$6,255,738$0$0$3,098,911
85$6,742,685$0$0$3,343,479
86$7,274,540$0$0$3,610,739
87$7,855,733$0$0$3,902,936
88$8,491,143$0$0$4,222,540
89$9,186,139$0$0$4,572,271
90$9,946,635$0$0$4,955,124
91$10,779,142$0$0$5,374,398
92$11,690,831$0$0$5,833,723
93$12,689,596$0$0$6,337,101
94$13,784,134$0$0$6,888,936
95$14,984,021$0$0$7,494,079
96$16,299,805$0$0$8,157,875
97$17,743,102$0$0$8,886,209
98$19,326,709$0$0$9,685,565
99$21,064,717$0$0$10,563,083
100$22,972,654$0$0$11,526,631