Can I retire at age 54 with 880,000?

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 $880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$72,670$72,022$71,391$70,774$70,172$69,324
2 years$35,975$35,305$34,656$34,026$33,415$32,562
3 years$23,745$23,072$22,425$21,801$21,200$20,368
4 years$17,631$16,961$16,319$15,706$15,120$14,315
5 years$13,964$13,297$12,664$12,064$11,494$10,719
6 years$11,520$10,858$10,235$9,648$9,095$8,351
7 years$9,775$9,119$8,505$7,932$7,397$6,683
8 years$8,467$7,816$7,213$6,654$6,136$5,454
9 years$7,450$6,806$6,213$5,668$5,168$4,516
10 years$6,637$5,999$5,416$4,886$4,403$3,782
11 years$5,972$5,340$4,768$4,252$3,787$3,195
12 years$5,418$4,793$4,232$3,729$3,281$2,719
13 years$4,950$4,332$3,781$3,293$2,862$2,328
14 years$4,549$3,937$3,397$2,923$2,508$2,002
15 years$4,202$3,597$3,067$2,607$2,209$1,729
16 years$3,899$3,300$2,781$2,334$1,952$1,498
17 years$3,631$3,039$2,530$2,097$1,731$1,302
18 years$3,394$2,808$2,310$1,890$1,539$1,135
19 years$3,182$2,603$2,115$1,708$1,372$991
20 years$2,991$2,419$1,941$1,547$1,225$866
21 years$2,818$2,253$1,785$1,404$1,096$759
22 years$2,662$2,103$1,645$1,276$983$666
23 years$2,519$1,967$1,519$1,162$882$585
24 years$2,389$1,843$1,405$1,060$793$514
25 years$2,269$1,729$1,301$968$714$452
26 years$2,158$1,625$1,207$885$643$398
27 years$2,056$1,530$1,121$810$579$351
28 years$1,961$1,441$1,042$742$523$310
29 years$1,873$1,360$969$681$472$273
30 years$1,791$1,284$903$625$427$241
31 years$1,715$1,214$842$574$386$213
32 years$1,643$1,149$785$527$349$188
33 years$1,576$1,088$733$485$316$166
34 years$1,513$1,031$685$446$286$147
35 years$1,454$978$641$411$259$130
36 years$1,398$928$599$378$235$115
37 years$1,345$882$561$349$213$102
38 years$1,295$838$525$321$193$90
39 years$1,248$797$492$296$175$79
40 years$1,203$758$461$273$159$70
41 years$1,161$721$433$252$144$62
42 years$1,120$687$406$233$131$55
43 years$1,082$655$381$215$118$49
44 years$1,046$624$357$198$108$43
45 years$1,011$595$336$183$98$38
46 years$978$568$315$169$89$34
47 years$946$542$296$156$80$30
48 years$916$517$278$144$73$27
49 years$887$494$262$133$66$23
50 years$859$472$246$123$60$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $880,000, adding $3,778 every year, while hoping to spend $56,624 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: 67/20/13 Blend
53$880,000$880,000$880,000$880,000
54$973,657$927,017$913,377$1,035,773
55$1,012,723$912,193$883,728$1,062,815
56$1,053,875$894,746$851,187$1,085,324
57$1,097,267$874,485$815,599$1,108,491
58$1,143,066$851,213$776,800$1,132,378
59$1,191,454$824,717$734,617$1,157,050
60$1,242,629$794,775$688,874$1,182,584
61$1,296,808$761,149$639,381$1,209,065
62$1,354,227$723,590$585,945$1,236,589
63$1,415,144$681,833$528,361$1,265,264
64$1,479,844$635,597$466,415$1,295,212
65$1,548,633$584,587$399,886$1,326,568
66$1,621,851$528,489$328,540$1,359,486
67$1,699,868$466,973$252,134$1,394,138
68$1,783,090$399,690$170,415$1,430,716
69$1,871,959$326,269$83,119$1,469,434
70$1,966,964$246,321$0$1,510,533
71$2,068,638$159,434$0$1,555,675
72$2,177,564$65,172$0$1,616,162
73$2,294,386$0$0$1,680,830
74$2,419,808$0$0$1,758,223
75$2,554,601$0$0$1,856,851
76$2,699,614$0$0$1,962,997
77$2,855,778$0$0$2,077,347
78$3,024,117$0$0$2,200,655
79$3,205,753$0$0$2,333,751
80$3,401,921$0$0$2,477,545
81$3,613,978$0$0$2,633,036
82$3,843,414$0$0$2,801,325
83$4,091,867$0$0$2,983,621
84$4,361,140$0$0$3,181,253
85$4,653,215$0$0$3,395,683
86$4,970,268$0$0$3,628,517
87$5,314,698$0$0$3,881,524
88$5,689,139$0$0$4,156,650
89$6,096,492$0$0$4,456,033
90$6,539,948$0$0$4,782,029
91$7,023,017$0$0$5,137,227
92$7,549,563$0$0$5,524,481
93$8,123,837$0$0$5,946,926
94$8,750,521$0$0$6,408,018
95$9,434,765$0$0$6,911,558
96$10,182,240$0$0$7,461,732
97$10,999,189$0$0$8,063,147
98$11,892,486$0$0$8,720,877
99$12,869,697$0$0$9,440,507
100$13,939,155$0$0$10,228,187