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%12.4%
1 years$79,937$79,225$78,530$77,852$77,190$76,415
2 years$39,573$38,836$38,121$37,429$36,757$35,977
3 years$26,120$25,379$24,667$23,981$23,320$22,559
4 years$19,395$18,657$17,951$17,277$16,632$15,895
5 years$15,360$14,627$13,931$13,270$12,643$11,933
6 years$12,672$11,944$11,258$10,612$10,004$9,322
7 years$10,752$10,031$9,356$8,725$8,136$7,481
8 years$9,313$8,598$7,934$7,319$6,750$6,123
9 years$8,195$7,486$6,834$6,234$5,684$5,085
10 years$7,300$6,599$5,958$5,374$4,843$4,271
11 years$6,569$5,874$5,245$4,677$4,165$3,620
12 years$5,960$5,273$4,655$4,102$3,610$3,090
13 years$5,445$4,765$4,159$3,622$3,148$2,654
14 years$5,004$4,331$3,737$3,215$2,759$2,290
15 years$4,622$3,957$3,374$2,867$2,429$1,985
16 years$4,289$3,630$3,059$2,567$2,147$1,726
17 years$3,994$3,343$2,783$2,307$1,904$1,505
18 years$3,733$3,089$2,541$2,079$1,693$1,316
19 years$3,500$2,863$2,326$1,878$1,509$1,153
20 years$3,290$2,660$2,135$1,701$1,348$1,012
21 years$3,100$2,478$1,964$1,544$1,206$890
22 years$2,928$2,313$1,810$1,404$1,081$784
23 years$2,771$2,164$1,671$1,278$970$691
24 years$2,628$2,027$1,545$1,166$872$610
25 years$2,496$1,902$1,431$1,065$785$539
26 years$2,374$1,788$1,327$974$707$476
27 years$2,262$1,683$1,233$891$637$422
28 years$2,157$1,586$1,146$817$575$373
29 years$2,061$1,496$1,066$749$519$331
30 years$1,970$1,413$993$687$469$293
31 years$1,886$1,335$926$631$424$260
32 years$1,807$1,264$864$580$384$230
33 years$1,734$1,197$807$533$347$204
34 years$1,664$1,134$754$491$314$181
35 years$1,599$1,076$705$452$285$161
36 years$1,537$1,021$659$416$258$143
37 years$1,479$970$617$383$234$127
38 years$1,425$922$578$353$212$113
39 years$1,373$876$541$326$192$100
40 years$1,323$834$507$301$174$89
41 years$1,277$794$476$277$158$79
42 years$1,232$756$446$256$144$70
43 years$1,190$720$419$236$130$63
44 years$1,150$686$393$218$118$56
45 years$1,112$655$369$201$107$49
46 years$1,075$624$347$186$97$44
47 years$1,041$596$326$172$89$39
48 years$1,007$569$306$159$80$35
49 years$976$543$288$147$73$31
50 years$945$519$270$136$66$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $968,000, adding $3,967 every year, while hoping to spend $51,895 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: 40/41/19 Blend
53$968,000$968,000$968,000$968,000
54$1,070,828$1,019,524$1,004,520$1,107,485
55$1,124,837$1,014,265$982,956$1,128,785
56$1,182,615$1,007,009$958,929$1,146,532
57$1,244,492$997,603$932,304$1,164,654
58$1,310,830$985,885$902,937$1,183,214
59$1,382,026$971,685$870,676$1,202,284
60$1,458,515$954,820$835,366$1,221,945
61$1,540,775$935,097$796,842$1,242,294
62$1,629,330$912,313$754,932$1,263,442
63$1,724,757$886,251$709,458$1,285,513
64$1,827,688$856,684$660,230$1,308,651
65$1,938,819$823,368$607,055$1,333,022
66$2,058,914$786,048$549,726$1,358,811
67$2,188,811$744,453$488,031$1,386,230
68$2,329,435$698,296$421,745$1,415,519
69$2,481,799$647,275$350,635$1,446,949
70$2,647,020$591,068$274,458$1,480,826
71$2,826,323$529,338$192,960$1,517,496
72$3,021,059$461,726$105,875$1,557,348
73$3,232,711$387,854$12,925$1,600,819
74$3,462,912$307,323$0$1,648,400
75$3,713,457$219,711$0$1,718,132
76$3,986,325$124,571$0$1,797,075
77$4,283,689$21,434$0$1,883,364
78$4,607,942$0$0$1,977,839
79$4,961,720$0$0$2,122,129
80$5,347,923$0$0$2,290,320
81$5,769,741$0$0$2,474,146
82$6,230,689$0$0$2,675,153
83$6,734,635$0$0$2,895,046
84$7,285,839$0$0$3,135,699
85$7,888,991$0$0$3,399,177
86$8,549,254$0$0$3,687,755
87$9,272,314$0$0$4,003,936
88$10,064,435$0$0$4,350,479
89$10,932,511$0$0$4,730,420
90$11,884,139$0$0$5,147,106
91$12,927,683$0$0$5,604,220
92$14,072,356$0$0$6,105,821
93$15,328,306$0$0$6,656,380
94$16,706,711$0$0$7,260,821
95$18,219,884$0$0$7,924,567
96$19,881,386$0$0$8,653,594
97$21,706,159$0$0$9,454,485
98$23,710,660$0$0$10,334,491
99$25,913,019$0$0$11,301,600
100$28,333,212$0$0$12,364,614