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%13.2%
1 years$79,606$78,897$78,205$77,530$76,871$75,847
2 years$39,409$38,675$37,964$37,274$36,605$35,576
3 years$26,012$25,275$24,565$23,882$23,224$22,220
4 years$19,314$18,579$17,877$17,206$16,563$15,594
5 years$15,297$14,567$13,873$13,215$12,591$11,658
6 years$12,620$11,895$11,212$10,569$9,963$9,067
7 years$10,708$9,989$9,317$8,689$8,103$7,245
8 years$9,275$8,563$7,902$7,289$6,722$5,902
9 years$8,161$7,455$6,806$6,209$5,661$4,879
10 years$7,270$6,571$5,933$5,352$4,823$4,078
11 years$6,542$5,850$5,224$4,658$4,148$3,439
12 years$5,935$5,251$4,636$4,085$3,595$2,921
13 years$5,423$4,745$4,142$3,607$3,135$2,496
14 years$4,984$4,313$3,721$3,202$2,748$2,142
15 years$4,603$3,940$3,360$2,855$2,419$1,846
16 years$4,271$3,615$3,046$2,557$2,138$1,597
17 years$3,978$3,329$2,772$2,297$1,896$1,385
18 years$3,718$3,076$2,530$2,070$1,686$1,204
19 years$3,485$2,851$2,317$1,871$1,503$1,049
20 years$3,276$2,650$2,126$1,694$1,342$915
21 years$3,088$2,468$1,955$1,538$1,201$800
22 years$2,916$2,304$1,802$1,398$1,077$700
23 years$2,760$2,155$1,664$1,273$966$614
24 years$2,617$2,019$1,539$1,161$869$538
25 years$2,485$1,894$1,425$1,061$782$472
26 years$2,364$1,781$1,322$970$704$415
27 years$2,252$1,676$1,228$888$635$365
28 years$2,149$1,579$1,141$813$573$321
29 years$2,052$1,490$1,062$746$517$283
30 years$1,962$1,407$989$684$467$249
31 years$1,878$1,330$922$629$422$219
32 years$1,800$1,258$860$578$382$193
33 years$1,726$1,192$803$531$346$170
34 years$1,657$1,129$751$489$313$150
35 years$1,592$1,071$702$450$284$132
36 years$1,531$1,017$657$414$257$117
37 years$1,473$966$614$382$233$103
38 years$1,419$918$575$352$211$91
39 years$1,367$873$539$324$191$80
40 years$1,318$830$505$299$174$71
41 years$1,271$790$474$276$158$62
42 years$1,227$753$444$255$143$55
43 years$1,185$717$417$235$130$49
44 years$1,145$684$392$217$118$43
45 years$1,107$652$368$201$107$38
46 years$1,071$622$345$185$97$33
47 years$1,036$593$324$171$88$30
48 years$1,003$567$305$158$80$26
49 years$972$541$287$146$73$23
50 years$941$517$269$135$66$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $964,000, adding $6,595 every year, while hoping to spend $29,066 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: 59/21/20 Blend
53$964,000$964,000$964,000$964,000
54$1,069,131$1,018,039$1,003,097$1,126,206
55$1,147,256$1,036,997$1,005,774$1,184,643
56$1,232,376$1,055,909$1,007,568$1,244,599
57$1,325,173$1,074,744$1,008,416$1,309,335
58$1,426,400$1,093,465$1,008,257$1,379,322
59$1,536,882$1,112,034$1,007,023$1,455,073
60$1,657,530$1,130,410$1,004,644$1,537,158
61$1,789,347$1,148,549$1,001,049$1,626,203
62$1,933,436$1,166,403$996,159$1,722,900
63$2,091,011$1,183,922$989,896$1,828,010
64$2,263,411$1,201,051$982,174$1,942,375
65$2,452,108$1,217,731$972,906$2,066,919
66$2,658,723$1,233,901$961,998$2,202,667
67$2,885,043$1,249,492$949,355$2,350,742
68$3,133,034$1,264,434$934,876$2,512,389
69$3,404,863$1,278,650$918,453$2,688,976
70$3,702,914$1,292,059$899,976$2,882,013
71$4,029,815$1,304,573$879,329$3,093,167
72$4,388,459$1,316,101$856,390$3,324,272
73$4,782,036$1,326,543$831,032$3,577,353
74$5,214,054$1,335,795$803,123$3,854,643
75$5,688,382$1,343,743$772,522$4,158,603
76$6,209,280$1,350,270$739,085$4,491,947
77$6,781,442$1,355,248$702,659$4,857,666
78$7,410,036$1,358,542$663,085$5,259,061
79$8,100,759$1,360,010$620,198$5,699,767
80$8,859,885$1,359,499$573,823$6,183,796
81$9,694,327$1,356,848$523,780$6,715,568
82$10,611,700$1,351,885$469,878$7,299,959
83$11,620,394$1,344,429$411,920$7,942,343
84$12,729,653$1,334,285$349,698$8,648,645
85$13,949,663$1,321,250$282,998$9,425,397
86$15,291,643$1,305,106$211,593$10,279,800
87$16,767,957$1,285,622$135,248$11,219,795
88$18,392,228$1,262,557$53,718$12,254,132
89$20,179,463$1,235,649$0$13,392,461
90$22,146,199$1,204,628$0$14,652,522
91$24,310,658$1,169,201$0$16,051,633
92$26,692,917$1,129,064$0$17,591,302
93$29,315,097$1,083,891$0$19,285,843
94$32,201,574$1,033,338$0$21,151,026
95$35,379,206$977,043$0$23,204,235
96$38,877,589$914,622$0$25,464,626
97$42,729,332$845,667$0$27,953,312
98$46,970,369$769,750$0$30,693,562
99$51,640,295$686,417$0$33,711,018
100$56,782,741$595,187$0$37,033,942