Can I retire at age 54 with 966,000?

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 $966,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$79,771$79,061$78,368$77,691$77,030$76,385
2 years$39,491$38,755$38,043$37,351$36,681$36,031
3 years$26,066$25,327$24,616$23,931$23,272$22,637
4 years$19,354$18,618$17,914$17,241$16,598$15,982
5 years$15,329$14,597$13,902$13,243$12,617$12,024
6 years$12,646$11,919$11,235$10,590$9,984$9,413
7 years$10,730$10,010$9,336$8,707$8,119$7,571
8 years$9,294$8,580$7,918$7,304$6,736$6,210
9 years$8,178$7,471$6,820$6,221$5,673$5,170
10 years$7,285$6,585$5,946$5,363$4,833$4,353
11 years$6,555$5,862$5,234$4,667$4,157$3,698
12 years$5,948$5,262$4,645$4,094$3,602$3,165
13 years$5,434$4,755$4,150$3,614$3,141$2,725
14 years$4,994$4,322$3,729$3,208$2,754$2,358
15 years$4,613$3,948$3,367$2,861$2,424$2,049
16 years$4,280$3,623$3,053$2,562$2,143$1,787
17 years$3,986$3,336$2,778$2,302$1,900$1,563
18 years$3,725$3,083$2,536$2,075$1,689$1,370
19 years$3,493$2,857$2,321$1,874$1,506$1,204
20 years$3,283$2,655$2,130$1,698$1,345$1,060
21 years$3,094$2,473$1,960$1,541$1,204$935
22 years$2,922$2,308$1,806$1,401$1,079$826
23 years$2,766$2,159$1,668$1,276$968$730
24 years$2,622$2,023$1,542$1,164$870$646
25 years$2,490$1,898$1,428$1,063$783$573
26 years$2,369$1,784$1,325$972$706$508
27 years$2,257$1,679$1,230$889$636$451
28 years$2,153$1,582$1,144$815$574$401
29 years$2,056$1,493$1,064$747$518$356
30 years$1,966$1,410$991$686$468$317
31 years$1,882$1,333$924$630$423$282
32 years$1,804$1,261$862$579$383$251
33 years$1,730$1,194$805$532$347$223
34 years$1,661$1,132$752$490$314$199
35 years$1,596$1,073$703$451$284$177
36 years$1,534$1,019$658$415$258$158
37 years$1,476$968$616$383$233$141
38 years$1,422$920$577$353$212$125
39 years$1,370$874$540$325$192$112
40 years$1,321$832$506$300$174$100
41 years$1,274$792$475$277$158$89
42 years$1,230$754$445$255$143$79
43 years$1,188$719$418$236$130$71
44 years$1,148$685$392$218$118$63
45 years$1,110$653$368$201$107$56
46 years$1,073$623$346$186$97$50
47 years$1,038$595$325$172$88$45
48 years$1,005$568$305$159$80$40
49 years$974$542$287$146$73$36
50 years$943$518$270$135$66$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $966,000, adding $4,401 every year, while hoping to spend $20,718 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: 78/16/6 Blend
53$966,000$966,000$966,000$966,000
54$1,069,072$1,017,874$1,002,901$1,151,555
55$1,156,073$1,045,706$1,014,454$1,234,103
56$1,251,254$1,074,207$1,025,700$1,321,460
57$1,355,428$1,103,389$1,036,607$1,416,641
58$1,469,488$1,133,262$1,047,140$1,520,416
59$1,594,421$1,163,836$1,057,264$1,633,631
60$1,731,310$1,195,123$1,066,940$1,757,217
61$1,881,352$1,227,131$1,076,131$1,892,201
62$2,045,861$1,259,872$1,084,792$2,039,714
63$2,226,287$1,293,354$1,092,881$2,201,000
64$2,424,227$1,327,587$1,100,352$2,377,430
65$2,641,439$1,362,580$1,107,154$2,570,513
66$2,879,860$1,398,340$1,113,238$2,781,914
67$3,141,623$1,434,876$1,118,548$3,013,464
68$3,429,078$1,472,195$1,123,029$3,267,180
69$3,744,814$1,510,303$1,126,621$3,545,286
70$4,091,684$1,549,206$1,129,262$3,850,231
71$4,472,829$1,588,910$1,130,885$4,184,711
72$4,891,710$1,629,419$1,131,422$4,551,698
73$5,352,140$1,670,737$1,130,800$4,954,467
74$5,858,321$1,712,865$1,128,945$5,396,624
75$6,414,880$1,755,806$1,125,775$5,882,143
76$7,026,917$1,799,560$1,121,208$6,415,402
77$7,700,051$1,844,126$1,115,156$7,001,224
78$8,440,470$1,889,502$1,107,528$7,644,924
79$9,254,994$1,935,685$1,098,227$8,352,358
80$10,151,139$1,982,668$1,087,152$9,129,978
81$11,137,182$2,030,446$1,074,199$9,984,892
82$12,222,247$2,079,010$1,059,257$10,924,934
83$13,416,384$2,128,350$1,042,210$11,958,734
84$14,730,668$2,178,452$1,022,937$13,095,802
85$16,177,303$2,229,302$1,001,312$14,346,617
86$17,769,733$2,280,884$977,201$15,722,727
87$19,522,776$2,333,177$950,467$17,236,853
88$21,452,755$2,386,159$920,964$18,903,016
89$23,577,660$2,439,804$888,540$20,736,666
90$25,917,312$2,494,085$853,037$22,754,824
91$28,493,552$2,548,970$814,288$24,976,250
92$31,330,448$2,604,423$772,121$27,421,615
93$34,454,520$2,660,406$726,353$30,113,696
94$37,894,991$2,716,876$676,796$33,077,594
95$41,684,063$2,773,786$623,251$36,340,967
96$45,857,218$2,831,083$565,511$39,934,296
97$50,453,560$2,888,711$503,361$43,891,167
98$55,516,173$2,946,608$436,574$48,248,592
99$61,092,539$3,004,707$364,915$53,047,356
100$67,234,975$3,062,935$288,137$58,332,403