Can I retire at age 54 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$79,937$79,225$78,530$77,852$77,190$75,880
2 years$39,573$38,836$38,121$37,429$36,757$35,441
3 years$26,120$25,379$24,667$23,981$23,320$22,040
4 years$19,395$18,657$17,951$17,277$16,632$15,397
5 years$15,360$14,627$13,931$13,270$12,643$11,457
6 years$12,672$11,944$11,258$10,612$10,004$8,867
7 years$10,752$10,031$9,356$8,725$8,136$7,050
8 years$9,313$8,598$7,934$7,319$6,750$5,713
9 years$8,195$7,486$6,834$6,234$5,684$4,697
10 years$7,300$6,599$5,958$5,374$4,843$3,905
11 years$6,569$5,874$5,245$4,677$4,165$3,275
12 years$5,960$5,273$4,655$4,102$3,610$2,765
13 years$5,445$4,765$4,159$3,622$3,148$2,349
14 years$5,004$4,331$3,737$3,215$2,759$2,004
15 years$4,622$3,957$3,374$2,867$2,429$1,717
16 years$4,289$3,630$3,059$2,567$2,147$1,475
17 years$3,994$3,343$2,783$2,307$1,904$1,271
18 years$3,733$3,089$2,541$2,079$1,693$1,098
19 years$3,500$2,863$2,326$1,878$1,509$950
20 years$3,290$2,660$2,135$1,701$1,348$824
21 years$3,100$2,478$1,964$1,544$1,206$715
22 years$2,928$2,313$1,810$1,404$1,081$622
23 years$2,771$2,164$1,671$1,278$970$541
24 years$2,628$2,027$1,545$1,166$872$471
25 years$2,496$1,902$1,431$1,065$785$411
26 years$2,374$1,788$1,327$974$707$358
27 years$2,262$1,683$1,233$891$637$313
28 years$2,157$1,586$1,146$817$575$273
29 years$2,061$1,496$1,066$749$519$239
30 years$1,970$1,413$993$687$469$209
31 years$1,886$1,335$926$631$424$182
32 years$1,807$1,264$864$580$384$159
33 years$1,734$1,197$807$533$347$139
34 years$1,664$1,134$754$491$314$122
35 years$1,599$1,076$705$452$285$107
36 years$1,537$1,021$659$416$258$94
37 years$1,479$970$617$383$234$82
38 years$1,425$922$578$353$212$72
39 years$1,373$876$541$326$192$63
40 years$1,323$834$507$301$174$55
41 years$1,277$794$476$277$158$48
42 years$1,232$756$446$256$144$42
43 years$1,190$720$419$236$130$37
44 years$1,150$686$393$218$118$32
45 years$1,112$655$369$201$107$28
46 years$1,075$624$347$186$97$25
47 years$1,041$596$326$172$89$22
48 years$1,007$569$306$159$80$19
49 years$976$543$288$147$73$17
50 years$945$519$270$136$66$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $968,000, adding $4,839 every year, while hoping to spend $40,113 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: 42/42/16 Blend
53$968,000$968,000$968,000$968,000
54$1,071,727$1,020,423$1,005,419$1,111,529
55$1,138,364$1,027,744$996,421$1,147,388
56$1,210,452$1,034,079$985,777$1,181,877
57$1,288,508$1,039,338$973,389$1,218,367
58$1,373,094$1,043,424$959,156$1,257,062
59$1,464,832$1,046,235$942,971$1,298,186
60$1,564,406$1,047,661$924,721$1,341,988
61$1,672,566$1,047,588$904,291$1,388,746
62$1,790,140$1,045,891$881,556$1,438,768
63$1,918,035$1,042,441$856,389$1,492,397
64$2,057,253$1,037,099$828,657$1,550,012
65$2,208,894$1,029,718$798,218$1,612,034
66$2,374,169$1,020,142$764,925$1,678,931
67$2,554,411$1,008,205$728,627$1,751,223
68$2,751,087$993,733$689,162$1,829,485
69$2,965,812$976,540$646,363$1,914,355
70$3,200,363$956,429$600,055$2,006,539
71$3,456,698$933,192$550,055$2,106,823
72$3,736,971$906,608$496,171$2,216,073
73$4,043,554$876,444$438,205$2,335,254
74$4,379,058$842,452$375,947$2,465,429
75$4,746,361$804,371$309,180$2,607,780
76$5,148,629$761,924$237,676$2,763,613
77$5,589,349$714,819$161,199$2,934,373
78$6,072,364$662,745$79,499$3,121,662
79$6,601,901$605,377$0$3,327,250
80$7,182,622$542,367$0$3,554,410
81$7,819,657$473,350$0$3,818,566
82$8,518,658$397,941$0$4,108,578
83$9,285,852$315,730$0$4,427,145
84$10,128,095$226,288$0$4,777,253
85$11,052,943$129,158$0$5,162,197
86$12,068,716$23,859$0$5,585,615
87$13,184,582$0$0$6,051,528
88$14,410,638$0$0$6,606,021
89$15,758,012$0$0$7,227,630
90$17,238,958$0$0$7,910,998
91$18,866,981$0$0$8,662,374
92$20,656,955$0$0$9,488,640
93$22,625,272$0$0$10,397,380
94$24,789,987$0$0$11,396,951
95$27,170,998$0$0$12,496,557
96$29,790,223$0$0$13,706,342
97$32,671,814$0$0$15,037,482
98$35,842,382$0$0$16,502,291
99$39,331,246$0$0$18,114,337
100$43,170,712$0$0$19,888,568