Can I retire at age 54 with 965,000?

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 $965,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$79,689$78,979$78,286$77,610$76,950$76,370
2 years$39,450$38,715$38,003$37,313$36,643$36,057
3 years$26,039$25,301$24,591$23,907$23,248$22,676
4 years$19,334$18,599$17,896$17,223$16,581$16,026
5 years$15,313$14,582$13,888$13,229$12,604$12,069
6 years$12,633$11,907$11,223$10,580$9,973$9,458
7 years$10,719$9,999$9,327$8,698$8,111$7,616
8 years$9,285$8,571$7,910$7,297$6,729$6,255
9 years$8,169$7,463$6,813$6,215$5,667$5,213
10 years$7,278$6,578$5,939$5,357$4,828$4,394
11 years$6,549$5,856$5,229$4,663$4,152$3,738
12 years$5,942$5,256$4,641$4,090$3,598$3,203
13 years$5,428$4,750$4,146$3,611$3,138$2,762
14 years$4,989$4,318$3,725$3,205$2,751$2,393
15 years$4,608$3,944$3,363$2,858$2,422$2,082
16 years$4,275$3,619$3,049$2,559$2,141$1,818
17 years$3,982$3,333$2,775$2,300$1,898$1,592
18 years$3,722$3,080$2,533$2,072$1,688$1,398
19 years$3,489$2,854$2,319$1,873$1,504$1,230
20 years$3,280$2,652$2,128$1,696$1,344$1,085
21 years$3,091$2,470$1,958$1,539$1,202$958
22 years$2,919$2,306$1,804$1,399$1,078$847
23 years$2,763$2,157$1,666$1,275$967$751
24 years$2,619$2,021$1,541$1,162$870$665
25 years$2,488$1,896$1,427$1,062$782$591
26 years$2,367$1,782$1,323$971$705$525
27 years$2,255$1,677$1,229$888$635$466
28 years$2,151$1,581$1,142$814$573$415
29 years$2,054$1,491$1,063$746$518$369
30 years$1,964$1,408$990$685$468$329
31 years$1,880$1,331$923$629$423$293
32 years$1,802$1,260$861$578$383$261
33 years$1,728$1,193$804$532$346$233
34 years$1,659$1,131$751$489$313$208
35 years$1,594$1,072$703$450$284$185
36 years$1,533$1,018$657$415$257$166
37 years$1,475$967$615$382$233$148
38 years$1,420$919$576$352$211$132
39 years$1,368$874$540$325$192$118
40 years$1,319$831$506$300$174$105
41 years$1,273$791$474$276$158$94
42 years$1,229$753$445$255$143$84
43 years$1,187$718$418$235$130$75
44 years$1,147$684$392$217$118$67
45 years$1,108$653$368$201$107$60
46 years$1,072$623$346$185$97$54
47 years$1,037$594$325$171$88$48
48 years$1,004$567$305$158$80$43
49 years$973$542$287$146$73$38
50 years$942$517$270$135$66$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $965,000, adding $2,514 every year, while hoping to spend $50,314 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: 60/10/30 Blend
53$965,000$965,000$965,000$965,000
54$1,066,023$1,014,878$999,921$1,121,143
55$1,121,224$1,011,074$979,884$1,155,305
56$1,180,369$1,005,396$957,490$1,187,001
57$1,243,807$997,701$932,607$1,220,556
58$1,311,921$987,835$905,096$1,256,165
59$1,385,133$975,634$874,812$1,294,044
60$1,463,903$960,927$841,605$1,334,434
61$1,548,739$943,530$805,316$1,377,601
62$1,640,196$923,249$765,780$1,423,842
63$1,738,887$899,879$722,825$1,473,486
64$1,845,483$873,203$676,269$1,526,899
65$1,960,723$842,990$625,925$1,584,487
66$2,085,418$808,998$571,594$1,646,699
67$2,220,460$770,968$513,072$1,714,035
68$2,366,829$728,628$450,142$1,787,048
69$2,525,605$681,689$382,581$1,866,351
70$2,697,972$629,848$310,153$1,952,624
71$2,885,236$572,781$232,613$2,046,620
72$3,088,830$510,148$149,706$2,149,172
73$3,310,335$441,589$61,165$2,261,204
74$3,551,485$366,723$0$2,383,739
75$3,814,193$285,149$0$2,528,574
76$4,100,562$196,442$0$2,707,882
77$4,412,906$100,155$0$2,903,547
78$4,753,773$0$0$3,117,202
79$5,125,967$0$0$3,351,110
80$5,532,575$0$0$3,618,756
81$5,976,996$0$0$3,911,367
82$6,462,970$0$0$4,231,413
83$6,994,618$0$0$4,581,619
84$7,576,475$0$0$4,964,981
85$8,213,537$0$0$5,384,802
86$8,911,303$0$0$5,844,717
87$9,675,831$0$0$6,348,728
88$10,513,791$0$0$6,901,246
89$11,432,530$0$0$7,507,127
90$12,440,141$0$0$8,171,719
91$13,545,534$0$0$8,900,913
92$14,758,528$0$0$9,701,200
93$16,089,934$0$0$10,579,726
94$17,551,664$0$0$11,544,365
95$19,156,838$0$0$12,603,791
96$20,919,909$0$0$13,767,558
97$22,856,799$0$0$15,046,192
98$24,985,049$0$0$16,451,289
99$27,323,981$0$0$17,995,623
100$29,894,883$0$0$19,693,267