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%17.1%
1 years$79,771$79,061$78,368$77,691$77,030$74,804
2 years$39,491$38,755$38,043$37,351$36,681$34,456
3 years$26,066$25,327$24,616$23,931$23,272$21,118
4 years$19,354$18,618$17,914$17,241$16,598$14,531
5 years$15,329$14,597$13,902$13,243$12,617$10,643
6 years$12,646$11,919$11,235$10,590$9,984$8,104
7 years$10,730$10,010$9,336$8,707$8,119$6,335
8 years$9,294$8,580$7,918$7,304$6,736$5,045
9 years$8,178$7,471$6,820$6,221$5,673$4,074
10 years$7,285$6,585$5,946$5,363$4,833$3,324
11 years$6,555$5,862$5,234$4,667$4,157$2,735
12 years$5,948$5,262$4,645$4,094$3,602$2,265
13 years$5,434$4,755$4,150$3,614$3,141$1,885
14 years$4,994$4,322$3,729$3,208$2,754$1,576
15 years$4,613$3,948$3,367$2,861$2,424$1,322
16 years$4,280$3,623$3,053$2,562$2,143$1,112
17 years$3,986$3,336$2,778$2,302$1,900$938
18 years$3,725$3,083$2,536$2,075$1,689$793
19 years$3,493$2,857$2,321$1,874$1,506$671
20 years$3,283$2,655$2,130$1,698$1,345$568
21 years$3,094$2,473$1,960$1,541$1,204$482
22 years$2,922$2,308$1,806$1,401$1,079$410
23 years$2,766$2,159$1,668$1,276$968$348
24 years$2,622$2,023$1,542$1,164$870$296
25 years$2,490$1,898$1,428$1,063$783$252
26 years$2,369$1,784$1,325$972$706$215
27 years$2,257$1,679$1,230$889$636$183
28 years$2,153$1,582$1,144$815$574$156
29 years$2,056$1,493$1,064$747$518$133
30 years$1,966$1,410$991$686$468$113
31 years$1,882$1,333$924$630$423$97
32 years$1,804$1,261$862$579$383$82
33 years$1,730$1,194$805$532$347$70
34 years$1,661$1,132$752$490$314$60
35 years$1,596$1,073$703$451$284$51
36 years$1,534$1,019$658$415$258$44
37 years$1,476$968$616$383$233$37
38 years$1,422$920$577$353$212$32
39 years$1,370$874$540$325$192$27
40 years$1,321$832$506$300$174$23
41 years$1,274$792$475$277$158$20
42 years$1,230$754$445$255$143$17
43 years$1,188$719$418$236$130$14
44 years$1,148$685$392$218$118$12
45 years$1,110$653$368$201$107$11
46 years$1,073$623$346$186$97$9
47 years$1,038$595$325$172$88$8
48 years$1,005$568$305$159$80$7
49 years$974$542$287$146$73$6
50 years$943$518$270$135$66$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $966,000, adding $6,000 every year, while hoping to spend $33,379 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: 57/33/10 Blend
53$966,000$966,000$966,000$966,000
54$1,070,721$1,019,523$1,004,550$1,128,831
55$1,144,420$1,033,965$1,002,687$1,183,169
56$1,224,517$1,047,995$999,644$1,238,111
57$1,311,630$1,061,559$995,344$1,297,170
58$1,406,438$1,074,598$989,710$1,360,747
59$1,509,689$1,087,047$982,660$1,429,279
60$1,622,205$1,098,840$974,106$1,503,252
61$1,744,891$1,109,905$963,960$1,583,199
62$1,878,744$1,120,164$952,127$1,669,710
63$2,024,859$1,129,536$938,507$1,763,436
64$2,184,445$1,137,933$922,997$1,865,093
65$2,358,830$1,145,263$905,489$1,975,474
66$2,549,476$1,151,426$885,868$2,095,451
67$2,757,994$1,156,318$864,017$2,225,987
68$2,986,159$1,159,827$839,810$2,368,145
69$3,235,922$1,161,833$813,119$2,523,097
70$3,509,433$1,162,211$783,806$2,692,136
71$3,809,062$1,160,825$751,730$2,876,689
72$4,137,415$1,157,535$716,741$3,078,328
73$4,497,365$1,152,187$678,686$3,298,790
74$4,892,074$1,144,623$637,400$3,539,989
75$5,325,027$1,134,671$592,714$3,804,037
76$5,800,062$1,122,151$544,452$4,093,265
77$6,321,404$1,106,872$492,426$4,410,241
78$6,893,709$1,088,631$436,445$4,757,801
79$7,522,107$1,067,213$376,305$5,139,070
80$8,212,246$1,042,391$311,796$5,557,498
81$8,970,350$1,013,924$242,696$6,016,886
82$9,803,276$981,555$168,776$6,521,430
83$10,718,575$945,017$89,795$7,075,755
84$11,724,568$904,021$5,502$7,684,964
85$12,830,423$858,267$0$8,354,683
86$14,046,239$807,435$0$9,100,128
87$15,383,141$751,185$0$9,920,343
88$16,853,390$689,162$0$10,822,316
89$18,470,491$620,986$0$11,814,402
90$20,249,325$546,258$0$12,905,807
91$22,206,287$464,556$0$14,106,686
92$24,359,443$375,434$0$15,428,230
93$26,728,696$278,420$0$16,882,779
94$29,335,978$173,018$0$18,483,937
95$32,205,453$58,700$0$20,246,699
96$35,363,746$0$0$22,187,598
97$38,840,195$0$0$24,348,495
98$42,667,126$0$0$26,750,814
99$46,880,159$0$0$29,395,610
100$51,518,543$0$0$32,307,535