Can I retire at age 54 with 889,000?

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 $889,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$73,413$72,759$72,121$71,498$70,890$70,384
2 years$36,343$35,666$35,010$34,374$33,757$33,247
3 years$23,988$23,308$22,654$22,024$21,417$20,919
4 years$17,812$17,134$16,486$15,867$15,275$14,792
5 years$14,107$13,433$12,794$12,187$11,612$11,145
6 years$11,638$10,969$10,339$9,746$9,188$8,739
7 years$9,875$9,212$8,592$8,013$7,472$7,041
8 years$8,553$7,896$7,287$6,722$6,199$5,785
9 years$7,526$6,875$6,276$5,726$5,220$4,824
10 years$6,705$6,060$5,472$4,935$4,448$4,069
11 years$6,033$5,395$4,817$4,295$3,825$3,464
12 years$5,474$4,842$4,275$3,768$3,315$2,970
13 years$5,001$4,376$3,820$3,326$2,891$2,562
14 years$4,596$3,978$3,432$2,953$2,534$2,221
15 years$4,245$3,634$3,099$2,633$2,231$1,934
16 years$3,939$3,334$2,809$2,358$1,972$1,690
17 years$3,668$3,070$2,556$2,118$1,748$1,481
18 years$3,429$2,837$2,334$1,909$1,555$1,301
19 years$3,214$2,629$2,136$1,725$1,386$1,146
20 years$3,021$2,443$1,961$1,562$1,238$1,011
21 years$2,847$2,276$1,803$1,418$1,108$894
22 years$2,689$2,124$1,662$1,289$993$791
23 years$2,545$1,987$1,535$1,174$891$701
24 years$2,413$1,862$1,419$1,071$801$622
25 years$2,292$1,747$1,315$978$721$553
26 years$2,180$1,642$1,219$894$649$491
27 years$2,077$1,545$1,132$819$585$437
28 years$1,981$1,456$1,052$750$528$389
29 years$1,892$1,374$979$688$477$347
30 years$1,810$1,297$912$631$431$309
31 years$1,732$1,226$850$580$390$276
32 years$1,660$1,160$793$533$352$246
33 years$1,592$1,099$741$490$319$219
34 years$1,528$1,042$692$451$289$196
35 years$1,468$988$647$415$262$175
36 years$1,412$938$605$382$237$156
37 years$1,359$891$567$352$215$140
38 years$1,308$846$531$325$195$125
39 years$1,261$805$497$299$177$112
40 years$1,215$766$466$276$160$100
41 years$1,173$729$437$255$145$89
42 years$1,132$694$410$235$132$80
43 years$1,093$661$385$217$120$71
44 years$1,056$630$361$200$109$64
45 years$1,021$601$339$185$99$57
46 years$988$573$318$171$90$51
47 years$956$547$299$158$81$46
48 years$925$522$281$146$74$41
49 years$896$499$264$135$67$37
50 years$868$477$248$125$61$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $889,000, adding $6,132 every year, while hoping to spend $21,530 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: 68/22/10 Blend
53$889,000$889,000$889,000$889,000
54$986,003$938,886$925,107$1,050,629
55$1,063,668$961,984$933,190$1,117,434
56$1,148,532$985,492$940,822$1,187,303
57$1,241,309$1,009,407$947,966$1,263,146
58$1,342,781$1,033,727$954,582$1,345,545
59$1,453,812$1,058,446$960,627$1,435,142
60$1,575,350$1,083,559$966,058$1,532,644
61$1,708,443$1,109,061$970,828$1,638,826
62$1,854,242$1,134,943$974,888$1,754,548
63$2,014,016$1,161,196$978,188$1,880,751
64$2,189,162$1,187,811$980,674$2,018,475
65$2,381,219$1,214,777$982,289$2,168,864
66$2,591,882$1,242,079$982,975$2,333,180
67$2,823,018$1,269,705$982,668$2,512,813
68$3,076,682$1,297,637$981,304$2,709,291
69$3,355,141$1,325,858$978,815$2,924,303
70$3,660,888$1,354,348$975,128$3,159,704
71$3,996,672$1,383,085$970,168$3,417,543
72$4,365,521$1,412,045$963,857$3,700,074
73$4,770,770$1,441,201$956,113$4,009,782
74$5,216,094$1,470,525$946,847$4,349,404
75$5,705,540$1,499,985$935,971$4,721,959
76$6,243,567$1,529,546$923,388$5,130,769
77$6,835,089$1,559,172$909,000$5,579,497
78$7,485,519$1,588,823$892,703$6,072,181
79$8,200,820$1,618,453$874,386$6,613,267
80$8,987,563$1,648,016$853,937$7,207,657
81$9,852,987$1,677,461$831,236$7,860,751
82$10,805,067$1,706,733$806,159$8,578,500
83$11,852,593$1,735,772$778,574$9,367,464
84$13,005,247$1,764,514$748,346$10,234,870
85$14,273,698$1,792,891$715,331$11,188,681
86$15,669,701$1,820,829$679,381$12,237,674
87$17,206,209$1,848,248$640,339$13,391,523
88$18,897,495$1,875,064$598,042$14,660,884
89$20,759,283$1,901,186$552,320$16,057,504
90$22,808,902$1,926,517$502,995$17,594,328
91$25,065,446$1,950,952$449,882$19,285,620
92$27,549,954$1,974,381$392,785$21,147,101
93$30,285,608$1,996,684$331,502$23,196,094
94$33,297,954$2,017,736$265,821$25,451,691
95$36,615,141$2,037,400$195,521$27,934,933
96$40,268,185$2,055,533$120,371$30,669,005
97$44,291,267$2,071,980$40,131$33,679,459
98$48,722,048$2,086,580$0$36,994,455
99$53,602,031$2,099,156$0$40,649,880
100$58,976,947$2,109,524$0$44,679,964