Can I retire at age 54 with 890,000?

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 $890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$73,495$72,841$72,202$71,579$70,970$68,425
2 years$36,384$35,706$35,050$34,413$33,795$31,258
3 years$24,015$23,334$22,679$22,049$21,441$18,992
4 years$17,832$17,153$16,505$15,885$15,292$12,950
5 years$14,123$13,448$12,808$12,201$11,625$9,396
6 years$11,651$10,982$10,351$9,757$9,198$7,084
7 years$9,886$9,222$8,602$8,022$7,481$5,481
8 years$8,563$7,905$7,295$6,729$6,206$4,319
9 years$7,534$6,883$6,283$5,732$5,226$3,449
10 years$6,712$6,067$5,478$4,941$4,453$2,783
11 years$6,040$5,401$4,823$4,300$3,830$2,263
12 years$5,480$4,848$4,280$3,772$3,319$1,852
13 years$5,006$4,381$3,824$3,330$2,894$1,523
14 years$4,601$3,982$3,436$2,956$2,537$1,257
15 years$4,250$3,638$3,102$2,636$2,234$1,041
16 years$3,943$3,338$2,812$2,360$1,974$865
17 years$3,673$3,074$2,559$2,121$1,750$720
18 years$3,432$2,840$2,336$1,911$1,556$600
19 years$3,218$2,632$2,139$1,727$1,387$501
20 years$3,025$2,446$1,963$1,564$1,239$419
21 years$2,851$2,278$1,805$1,420$1,109$350
22 years$2,692$2,127$1,664$1,291$994$293
23 years$2,548$1,989$1,536$1,175$892$246
24 years$2,416$1,864$1,421$1,072$802$206
25 years$2,295$1,749$1,316$979$722$173
26 years$2,183$1,644$1,221$895$650$145
27 years$2,079$1,547$1,133$819$586$122
28 years$1,984$1,458$1,054$751$529$102
29 years$1,895$1,375$980$688$477$86
30 years$1,812$1,299$913$632$431$72
31 years$1,734$1,228$851$580$390$61
32 years$1,662$1,162$794$533$353$51
33 years$1,594$1,100$742$490$319$43
34 years$1,530$1,043$693$451$289$36
35 years$1,470$989$648$415$262$30
36 years$1,414$939$606$383$237$25
37 years$1,360$892$567$352$215$21
38 years$1,310$847$531$325$195$18
39 years$1,262$806$498$300$177$15
40 years$1,217$767$467$276$160$13
41 years$1,174$730$437$255$145$11
42 years$1,133$695$410$235$132$9
43 years$1,094$662$385$217$120$8
44 years$1,057$631$361$201$109$6
45 years$1,022$602$339$185$99$5
46 years$989$574$319$171$90$5
47 years$957$548$299$158$81$4
48 years$926$523$281$146$74$3
49 years$897$499$265$135$67$3
50 years$869$477$249$125$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $890,000, adding $3,904 every year, while hoping to spend $58,129 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: 71/8/21 Blend
53$890,000$890,000$890,000$890,000
54$984,807$937,637$923,842$1,049,389
55$1,023,408$921,732$892,942$1,077,043
56$1,063,999$903,100$859,058$1,100,047
57$1,106,720$881,545$822,030$1,123,795
58$1,151,726$856,862$781,689$1,148,355
59$1,199,185$828,830$737,857$1,173,800
60$1,249,278$797,219$690,352$1,200,215
61$1,302,206$761,785$638,981$1,227,694
62$1,358,186$722,267$583,542$1,256,341
63$1,417,455$678,393$523,825$1,286,273
64$1,480,273$629,871$459,610$1,317,623
65$1,546,923$576,397$390,669$1,350,535
66$1,617,715$517,646$316,762$1,385,175
67$1,692,986$453,275$237,638$1,421,723
68$1,773,109$382,924$153,037$1,460,383
69$1,858,489$306,210$62,687$1,501,382
70$1,949,570$222,729$0$1,544,971
71$2,046,839$132,056$0$1,598,992
72$2,150,829$33,739$0$1,671,677
73$2,262,126$0$0$1,749,385
74$2,381,370$0$0$1,838,973
75$2,509,265$0$0$1,938,276
76$2,646,582$0$0$2,044,928
77$2,794,170$0$0$2,159,590
78$2,952,956$0$0$2,282,989
79$3,123,963$0$0$2,415,923
80$3,308,312$0$0$2,559,269
81$3,507,233$0$0$2,713,989
82$3,722,082$0$0$2,881,141
83$3,954,343$0$0$3,061,888
84$4,205,653$0$0$3,257,508
85$4,477,807$0$0$3,469,404
86$4,772,781$0$0$3,699,123
87$5,092,747$0$0$3,948,362
88$5,440,093$0$0$4,218,989
89$5,817,447$0$0$4,513,059
90$6,227,699$0$0$4,832,831
91$6,674,028$0$0$5,180,793
92$7,159,932$0$0$5,559,679
93$7,689,261$0$0$5,972,501
94$8,266,250$0$0$6,422,572
95$8,895,562$0$0$6,913,537
96$9,582,327$0$0$7,449,410
97$10,332,194$0$0$8,034,609
98$11,151,380$0$0$8,673,998
99$12,046,731$0$0$9,372,929
100$13,025,781$0$0$10,137,298