Can I retire at age 54 with 968,000?

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 $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%11.8%
1 years$79,937$79,225$78,530$77,852$77,190$76,607
2 years$39,573$38,836$38,121$37,429$36,757$36,169
3 years$26,120$25,379$24,667$23,981$23,320$22,746
4 years$19,395$18,657$17,951$17,277$16,632$16,076
5 years$15,360$14,627$13,931$13,270$12,643$12,107
6 years$12,672$11,944$11,258$10,612$10,004$9,488
7 years$10,752$10,031$9,356$8,725$8,136$7,640
8 years$9,313$8,598$7,934$7,319$6,750$6,274
9 years$8,195$7,486$6,834$6,234$5,684$5,229
10 years$7,300$6,599$5,958$5,374$4,843$4,408
11 years$6,569$5,874$5,245$4,677$4,165$3,750
12 years$5,960$5,273$4,655$4,102$3,610$3,213
13 years$5,445$4,765$4,159$3,622$3,148$2,770
14 years$5,004$4,331$3,737$3,215$2,759$2,400
15 years$4,622$3,957$3,374$2,867$2,429$2,088
16 years$4,289$3,630$3,059$2,567$2,147$1,823
17 years$3,994$3,343$2,783$2,307$1,904$1,597
18 years$3,733$3,089$2,541$2,079$1,693$1,402
19 years$3,500$2,863$2,326$1,878$1,509$1,234
20 years$3,290$2,660$2,135$1,701$1,348$1,088
21 years$3,100$2,478$1,964$1,544$1,206$961
22 years$2,928$2,313$1,810$1,404$1,081$850
23 years$2,771$2,164$1,671$1,278$970$753
24 years$2,628$2,027$1,545$1,166$872$668
25 years$2,496$1,902$1,431$1,065$785$592
26 years$2,374$1,788$1,327$974$707$526
27 years$2,262$1,683$1,233$891$637$468
28 years$2,157$1,586$1,146$817$575$416
29 years$2,061$1,496$1,066$749$519$370
30 years$1,970$1,413$993$687$469$330
31 years$1,886$1,335$926$631$424$294
32 years$1,807$1,264$864$580$384$262
33 years$1,734$1,197$807$533$347$234
34 years$1,664$1,134$754$491$314$208
35 years$1,599$1,076$705$452$285$186
36 years$1,537$1,021$659$416$258$166
37 years$1,479$970$617$383$234$148
38 years$1,425$922$578$353$212$132
39 years$1,373$876$541$326$192$118
40 years$1,323$834$507$301$174$106
41 years$1,277$794$476$277$158$94
42 years$1,232$756$446$256$144$84
43 years$1,190$720$419$236$130$75
44 years$1,150$686$393$218$118$67
45 years$1,112$655$369$201$107$60
46 years$1,075$624$347$186$97$54
47 years$1,041$596$326$172$89$48
48 years$1,007$569$306$159$80$43
49 years$976$543$288$147$73$38
50 years$945$519$270$136$66$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $968,000, adding $3,072 every year, while hoping to spend $41,979 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: 24/46/30 Blend
53$968,000$968,000$968,000$968,000
54$1,069,905$1,018,601$1,003,597$1,085,468
55$1,134,370$1,023,847$992,552$1,104,355
56$1,204,003$1,027,943$979,730$1,120,853
57$1,279,288$1,030,789$965,028$1,137,662
58$1,360,755$1,032,277$948,335$1,154,836
59$1,448,987$1,032,294$929,540$1,172,441
60$1,544,626$1,030,719$908,522$1,190,550
61$1,648,378$1,027,423$885,157$1,209,249
62$1,761,017$1,022,272$859,315$1,228,638
63$1,883,397$1,015,120$830,858$1,248,831
64$2,016,457$1,005,814$799,646$1,269,958
65$2,161,230$994,193$765,527$1,292,168
66$2,318,850$980,083$728,348$1,315,629
67$2,490,569$963,304$687,943$1,340,533
68$2,677,762$943,660$644,144$1,367,100
69$2,881,943$920,949$596,772$1,395,575
70$3,104,778$894,952$545,641$1,426,237
71$3,348,102$865,442$490,557$1,459,400
72$3,613,934$832,174$431,317$1,495,419
73$3,904,498$794,893$367,708$1,534,692
74$4,222,240$753,326$299,509$1,577,666
75$4,569,855$707,186$226,490$1,624,844
76$4,950,312$656,169$148,408$1,676,789
77$5,366,876$599,954$65,012$1,734,133
78$5,823,146$538,200$0$1,797,581
79$6,323,084$470,549$0$1,875,602
80$6,871,054$396,622$0$1,984,107
81$7,471,862$316,017$0$2,103,341
82$8,130,802$228,311$0$2,234,499
83$8,853,703$133,058$0$2,378,905
84$9,646,986$29,783$0$2,538,031
85$10,517,726$0$0$2,713,505
86$11,473,715$0$0$2,948,645
87$12,523,534$0$0$3,223,594
88$13,676,639$0$0$3,525,776
89$14,943,445$0$0$3,857,941
90$16,335,427$0$0$4,223,122
91$17,865,226$0$0$4,624,659
92$19,546,766$0$0$5,066,232
93$21,395,392$0$0$5,551,896
94$23,428,005$0$0$6,086,119
95$25,663,228$0$0$6,673,822
96$28,121,580$0$0$7,320,429
97$30,825,666$0$0$8,031,915
98$33,800,393$0$0$8,814,864
99$37,073,202$0$0$9,676,529
100$40,674,331$0$0$10,624,905