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%17.7%
1 years$79,937$79,225$78,530$77,852$77,190$74,779
2 years$39,573$38,836$38,121$37,429$36,757$34,349
3 years$26,120$25,379$24,667$23,981$23,320$20,992
4 years$19,395$18,657$17,951$17,277$16,632$14,400
5 years$15,360$14,627$13,931$13,270$12,643$10,514
6 years$12,672$11,944$11,258$10,612$10,004$7,980
7 years$10,752$10,031$9,356$8,725$8,136$6,216
8 years$9,313$8,598$7,934$7,319$6,750$4,933
9 years$8,195$7,486$6,834$6,234$5,684$3,969
10 years$7,300$6,599$5,958$5,374$4,843$3,226
11 years$6,569$5,874$5,245$4,677$4,165$2,644
12 years$5,960$5,273$4,655$4,102$3,610$2,181
13 years$5,445$4,765$4,159$3,622$3,148$1,808
14 years$5,004$4,331$3,737$3,215$2,759$1,505
15 years$4,622$3,957$3,374$2,867$2,429$1,258
16 years$4,289$3,630$3,059$2,567$2,147$1,053
17 years$3,994$3,343$2,783$2,307$1,904$884
18 years$3,733$3,089$2,541$2,079$1,693$744
19 years$3,500$2,863$2,326$1,878$1,509$627
20 years$3,290$2,660$2,135$1,701$1,348$529
21 years$3,100$2,478$1,964$1,544$1,206$447
22 years$2,928$2,313$1,810$1,404$1,081$377
23 years$2,771$2,164$1,671$1,278$970$319
24 years$2,628$2,027$1,545$1,166$872$270
25 years$2,496$1,902$1,431$1,065$785$229
26 years$2,374$1,788$1,327$974$707$194
27 years$2,262$1,683$1,233$891$637$164
28 years$2,157$1,586$1,146$817$575$139
29 years$2,061$1,496$1,066$749$519$118
30 years$1,970$1,413$993$687$469$100
31 years$1,886$1,335$926$631$424$85
32 years$1,807$1,264$864$580$384$72
33 years$1,734$1,197$807$533$347$61
34 years$1,664$1,134$754$491$314$52
35 years$1,599$1,076$705$452$285$44
36 years$1,537$1,021$659$416$258$38
37 years$1,479$970$617$383$234$32
38 years$1,425$922$578$353$212$27
39 years$1,373$876$541$326$192$23
40 years$1,323$834$507$301$174$20
41 years$1,277$794$476$277$158$17
42 years$1,232$756$446$256$144$14
43 years$1,190$720$419$236$130$12
44 years$1,150$686$393$218$118$10
45 years$1,112$655$369$201$107$9
46 years$1,075$624$347$186$97$7
47 years$1,041$596$326$172$89$6
48 years$1,007$569$306$159$80$5
49 years$976$543$288$147$73$5
50 years$945$519$270$136$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $968,000, adding $3,406 every year, while hoping to spend $24,187 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: 63/12/25 Blend
53$968,000$968,000$968,000$968,000
54$1,070,249$1,018,945$1,003,941$1,130,414
55$1,153,680$1,043,139$1,011,839$1,195,718
56$1,244,810$1,067,707$1,019,190$1,264,042
57$1,344,399$1,092,643$1,025,951$1,338,134
58$1,453,283$1,117,939$1,032,076$1,418,563
59$1,572,385$1,143,584$1,037,517$1,505,954
60$1,702,716$1,169,568$1,042,222$1,600,997
61$1,845,395$1,195,879$1,046,138$1,704,451
62$2,001,651$1,222,502$1,049,210$1,817,155
63$2,172,837$1,249,423$1,051,376$1,940,030
64$2,360,446$1,276,624$1,052,577$2,074,095
65$2,566,119$1,304,086$1,052,746$2,220,471
66$2,791,666$1,331,788$1,051,815$2,380,392
67$3,039,077$1,359,708$1,049,713$2,555,221
68$3,310,549$1,387,820$1,046,364$2,746,459
69$3,608,498$1,416,095$1,041,690$2,955,760
70$3,935,586$1,444,505$1,035,607$3,184,947
71$4,294,746$1,473,016$1,028,031$3,436,030
72$4,689,209$1,501,593$1,018,869$3,711,224
73$5,122,534$1,530,197$1,008,026$4,012,971
74$5,598,641$1,558,785$995,404$4,343,962
75$6,121,850$1,587,313$980,897$4,707,163
76$6,696,919$1,615,731$964,397$5,105,843
77$7,329,089$1,643,987$945,790$5,543,605
78$8,024,138$1,672,024$924,955$6,024,421
79$8,788,427$1,699,781$901,768$6,552,670
80$9,628,967$1,727,191$876,098$7,133,175
81$10,553,483$1,754,183$847,808$7,771,255
82$11,570,483$1,780,683$816,755$8,472,773
83$12,689,344$1,806,609$782,788$9,244,188
84$13,920,397$1,831,873$745,751$10,092,621
85$15,275,025$1,856,382$705,481$11,025,922
86$16,765,770$1,880,036$661,807$12,052,741
87$18,406,450$1,902,730$614,549$13,182,613
88$20,212,293$1,924,349$563,522$14,426,046
89$22,200,075$1,944,771$508,529$15,794,623
90$24,388,285$1,963,866$449,366$17,301,110
91$26,797,292$1,981,498$385,822$18,959,577
92$29,449,542$1,997,517$317,673$20,785,530
93$32,369,767$2,011,767$244,687$22,796,063
94$35,585,221$2,024,082$166,622$25,010,011
95$39,125,934$2,034,282$83,224$27,448,136
96$43,024,997$2,042,180$0$30,133,319
97$47,318,873$2,047,573$0$33,092,321
98$52,047,743$2,050,249$0$36,375,187
99$57,255,880$2,049,979$0$39,990,401
100$62,992,075$2,046,523$0$43,971,806