Can I retire at age 54 with 966,000?

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 $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%15.6%
1 years$79,771$79,061$78,368$77,691$77,030$75,260
2 years$39,491$38,755$38,043$37,351$36,681$34,907
3 years$26,066$25,327$24,616$23,931$23,272$21,550
4 years$19,354$18,618$17,914$17,241$16,598$14,941
5 years$15,329$14,597$13,902$13,243$12,617$11,030
6 years$12,646$11,919$11,235$10,590$9,984$8,468
7 years$10,730$10,010$9,336$8,707$8,119$6,676
8 years$9,294$8,580$7,918$7,304$6,736$5,363
9 years$8,178$7,471$6,820$6,221$5,673$4,370
10 years$7,285$6,585$5,946$5,363$4,833$3,600
11 years$6,555$5,862$5,234$4,667$4,157$2,990
12 years$5,948$5,262$4,645$4,094$3,602$2,501
13 years$5,434$4,755$4,150$3,614$3,141$2,103
14 years$4,994$4,322$3,729$3,208$2,754$1,776
15 years$4,613$3,948$3,367$2,861$2,424$1,506
16 years$4,280$3,623$3,053$2,562$2,143$1,280
17 years$3,986$3,336$2,778$2,302$1,900$1,091
18 years$3,725$3,083$2,536$2,075$1,689$932
19 years$3,493$2,857$2,321$1,874$1,506$798
20 years$3,283$2,655$2,130$1,698$1,345$684
21 years$3,094$2,473$1,960$1,541$1,204$587
22 years$2,922$2,308$1,806$1,401$1,079$505
23 years$2,766$2,159$1,668$1,276$968$434
24 years$2,622$2,023$1,542$1,164$870$374
25 years$2,490$1,898$1,428$1,063$783$322
26 years$2,369$1,784$1,325$972$706$277
27 years$2,257$1,679$1,230$889$636$239
28 years$2,153$1,582$1,144$815$574$206
29 years$2,056$1,493$1,064$747$518$178
30 years$1,966$1,410$991$686$468$154
31 years$1,882$1,333$924$630$423$133
32 years$1,804$1,261$862$579$383$115
33 years$1,730$1,194$805$532$347$99
34 years$1,661$1,132$752$490$314$86
35 years$1,596$1,073$703$451$284$74
36 years$1,534$1,019$658$415$258$64
37 years$1,476$968$616$383$233$55
38 years$1,422$920$577$353$212$48
39 years$1,370$874$540$325$192$41
40 years$1,321$832$506$300$174$36
41 years$1,274$792$475$277$158$31
42 years$1,230$754$445$255$143$27
43 years$1,188$719$418$236$130$23
44 years$1,148$685$392$218$118$20
45 years$1,110$653$368$201$107$17
46 years$1,073$623$346$186$97$15
47 years$1,038$595$325$172$88$13
48 years$1,005$568$305$159$80$11
49 years$974$542$287$146$73$10
50 years$943$518$270$135$66$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $966,000, adding $2,314 every year, while hoping to spend $58,871 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: 62/31/7 Blend
53$966,000$966,000$966,000$966,000
54$1,066,919$1,015,721$1,000,748$1,131,470
55$1,113,106$1,002,853$971,635$1,161,989
56$1,162,032$987,381$939,573$1,188,226
57$1,213,912$969,116$904,402$1,215,353
58$1,268,985$947,857$865,954$1,243,456
59$1,327,510$923,391$824,051$1,272,629
60$1,389,771$895,491$778,512$1,302,982
61$1,456,079$863,921$729,143$1,334,634
62$1,526,773$828,427$675,743$1,367,721
63$1,602,226$788,743$618,103$1,402,397
64$1,682,847$744,585$556,003$1,438,833
65$1,769,083$695,655$489,215$1,477,220
66$1,861,424$641,637$417,498$1,517,774
67$1,960,409$582,197$340,604$1,560,736
68$2,066,627$516,981$258,271$1,606,376
69$2,180,727$445,617$170,227$1,654,996
70$2,303,419$367,710$76,187$1,706,932
71$2,435,484$282,844$0$1,762,562
72$2,577,778$190,579$0$1,824,110
73$2,731,244$90,449$0$1,896,431
74$2,896,915$0$0$1,974,375
75$3,075,927$0$0$2,064,703
76$3,269,530$0$0$2,195,818
77$3,479,096$0$0$2,337,803
78$3,706,134$0$0$2,491,688
79$3,952,303$0$0$2,658,605
80$4,219,428$0$0$2,839,800
81$4,509,516$0$0$3,036,642
82$4,824,773$0$0$3,250,638
83$5,167,627$0$0$3,483,446
84$5,540,751$0$0$3,736,890
85$5,947,084$0$0$4,012,976
86$6,389,859$0$0$4,313,913
87$6,872,637$0$0$4,642,132
88$7,399,335$0$0$5,000,307
89$7,974,265$0$0$5,391,383
90$8,602,175$0$0$5,818,602
91$9,288,289$0$0$6,285,532
92$10,038,361$0$0$6,796,102
93$10,858,724$0$0$7,354,638
94$11,756,352$0$0$7,965,903
95$12,738,925$0$0$8,635,140
96$13,814,897$0$0$9,368,127
97$14,993,582$0$0$10,171,223
98$16,285,235$0$0$11,051,432
99$17,701,148$0$0$12,016,469
100$19,253,761$0$0$13,074,830