Can I retire at age 54 with 893,000?

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 $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$73,743$73,086$72,445$71,820$71,209$70,174
2 years$36,506$35,827$35,168$34,529$33,909$32,868
3 years$24,096$23,413$22,756$22,123$21,513$20,499
4 years$17,892$17,211$16,560$15,938$15,343$14,364
5 years$14,170$13,494$12,852$12,242$11,664$10,722
6 years$11,690$11,019$10,386$9,790$9,229$8,326
7 years$9,919$9,253$8,631$8,049$7,506$6,641
8 years$8,592$7,932$7,320$6,752$6,227$5,401
9 years$7,560$6,906$6,304$5,751$5,244$4,456
10 years$6,735$6,087$5,496$4,958$4,468$3,718
11 years$6,060$5,419$4,839$4,315$3,843$3,130
12 years$5,498$4,864$4,294$3,785$3,330$2,653
13 years$5,023$4,396$3,837$3,341$2,904$2,262
14 years$4,616$3,996$3,447$2,966$2,545$1,938
15 years$4,264$3,650$3,112$2,645$2,241$1,667
16 years$3,956$3,349$2,822$2,368$1,981$1,439
17 years$3,685$3,084$2,568$2,128$1,756$1,245
18 years$3,444$2,850$2,344$1,918$1,562$1,080
19 years$3,229$2,641$2,146$1,733$1,392$939
20 years$3,035$2,454$1,969$1,569$1,243$818
21 years$2,860$2,286$1,811$1,424$1,113$713
22 years$2,701$2,134$1,670$1,295$997$623
23 years$2,557$1,996$1,542$1,179$895$544
24 years$2,424$1,870$1,426$1,076$805$476
25 years$2,302$1,755$1,320$982$724$417
26 years$2,190$1,649$1,225$898$652$366
27 years$2,086$1,552$1,137$822$588$321
28 years$1,990$1,463$1,057$753$531$281
29 years$1,901$1,380$984$691$479$247
30 years$1,818$1,303$916$634$433$217
31 years$1,740$1,232$854$582$391$191
32 years$1,667$1,166$797$535$354$168
33 years$1,599$1,104$744$492$320$147
34 years$1,535$1,046$695$453$290$130
35 years$1,475$992$650$417$263$114
36 years$1,418$942$608$384$238$100
37 years$1,365$895$569$354$216$88
38 years$1,314$850$533$326$196$78
39 years$1,266$808$499$301$177$68
40 years$1,221$769$468$277$161$60
41 years$1,178$732$439$256$146$53
42 years$1,137$697$412$236$132$47
43 years$1,098$664$386$218$120$41
44 years$1,061$633$363$201$109$36
45 years$1,026$604$341$186$99$32
46 years$992$576$320$172$90$28
47 years$960$550$300$159$82$25
48 years$929$525$282$147$74$22
49 years$900$501$265$135$67$19
50 years$872$479$250$125$61$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $893,000, adding $4,702 every year, while hoping to spend $47,383 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: 44/42/14 Blend
53$893,000$893,000$893,000$893,000
54$988,936$941,607$927,766$1,028,267
55$1,039,392$937,331$908,431$1,051,927
56$1,093,407$931,257$886,860$1,072,432
57$1,151,293$923,247$862,928$1,093,623
58$1,213,394$913,155$836,505$1,115,584
59$1,280,087$900,826$807,454$1,138,409
60$1,351,784$886,094$775,632$1,162,204
61$1,428,939$868,787$740,890$1,187,093
62$1,512,052$848,718$703,070$1,213,213
63$1,601,669$825,693$662,011$1,240,720
64$1,698,392$799,505$617,541$1,269,789
65$1,802,881$769,933$569,482$1,300,619
66$1,915,862$736,748$517,647$1,333,432
67$2,038,134$699,702$461,842$1,368,480
68$2,170,573$658,537$401,863$1,406,044
69$2,314,145$612,978$337,498$1,446,441
70$2,469,909$562,736$268,526$1,490,024
71$2,639,033$507,503$194,714$1,537,192
72$2,822,798$446,954$115,822$1,588,388
73$3,022,617$380,749$31,595$1,644,109
74$3,240,042$308,524$0$1,704,912
75$3,476,782$229,897$0$1,780,123
76$3,734,717$144,465$0$1,867,330
77$4,015,914$51,800$0$1,962,624
78$4,322,652$0$0$2,066,910
79$4,657,437$0$0$2,203,630
80$5,023,026$0$0$2,379,175
81$5,422,457$0$0$2,571,075
82$5,859,074$0$0$2,780,949
83$6,336,556$0$0$3,010,581
84$6,858,957$0$0$3,261,933
85$7,430,739$0$0$3,537,168
86$8,056,816$0$0$3,838,666
87$8,742,599$0$0$4,169,049
88$9,494,048$0$0$4,531,205
89$10,317,726$0$0$4,928,313
90$11,220,860$0$0$5,363,877
91$12,211,412$0$0$5,841,753
92$13,298,149$0$0$6,366,192
93$14,490,731$0$0$6,941,874
94$15,799,796$0$0$7,573,955
95$17,237,062$0$0$8,268,114
96$18,815,438$0$0$9,030,609
97$20,549,144$0$0$9,868,331
98$22,453,847$0$0$10,788,874
99$24,546,803$0$0$11,800,602
100$26,847,024$0$0$12,912,731