Can I retire at age 54 with 895,000?

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 $895,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$73,908$73,250$72,608$71,981$71,369$70,830
2 years$36,588$35,907$35,246$34,606$33,985$33,442
3 years$24,150$23,466$22,807$22,172$21,561$21,031
4 years$17,932$17,250$16,597$15,974$15,378$14,864
5 years$14,202$13,524$12,880$12,270$11,690$11,194
6 years$11,716$11,043$10,409$9,812$9,250$8,772
7 years$9,942$9,274$8,650$8,067$7,523$7,064
8 years$8,611$7,950$7,336$6,767$6,241$5,801
9 years$7,577$6,922$6,318$5,764$5,256$4,834
10 years$6,750$6,101$5,509$4,969$4,478$4,075
11 years$6,074$5,431$4,850$4,324$3,851$3,467
12 years$5,511$4,875$4,304$3,793$3,337$2,971
13 years$5,035$4,406$3,845$3,349$2,910$2,561
14 years$4,627$4,004$3,455$2,973$2,551$2,219
15 years$4,274$3,658$3,119$2,651$2,246$1,931
16 years$3,965$3,356$2,828$2,374$1,985$1,686
17 years$3,693$3,091$2,574$2,133$1,760$1,477
18 years$3,452$2,856$2,349$1,922$1,565$1,297
19 years$3,236$2,647$2,151$1,737$1,395$1,141
20 years$3,042$2,460$1,974$1,573$1,246$1,006
21 years$2,867$2,291$1,816$1,428$1,115$889
22 years$2,707$2,139$1,673$1,298$1,000$786
23 years$2,562$2,000$1,545$1,182$897$696
24 years$2,429$1,874$1,429$1,078$806$617
25 years$2,307$1,759$1,323$985$726$548
26 years$2,195$1,653$1,227$900$654$487
27 years$2,091$1,556$1,140$824$589$433
28 years$1,995$1,466$1,060$755$532$385
29 years$1,905$1,383$986$692$480$343
30 years$1,822$1,306$918$635$434$305
31 years$1,744$1,235$856$584$392$272
32 years$1,671$1,168$799$536$355$242
33 years$1,603$1,106$746$493$321$216
34 years$1,539$1,049$697$454$291$193
35 years$1,478$995$652$418$263$172
36 years$1,421$944$610$385$239$153
37 years$1,368$897$571$354$216$137
38 years$1,317$852$534$327$196$122
39 years$1,269$810$501$301$178$109
40 years$1,224$771$469$278$161$98
41 years$1,180$734$440$256$146$87
42 years$1,139$699$413$237$133$78
43 years$1,100$666$387$218$120$70
44 years$1,063$635$363$202$109$62
45 years$1,028$605$341$186$99$56
46 years$994$577$321$172$90$50
47 years$962$551$301$159$82$44
48 years$931$526$283$147$74$40
49 years$902$502$266$136$68$36
50 years$874$480$250$125$61$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $895,000, adding $6,928 every year, while hoping to spend $51,401 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: 63/11/26 Blend
53$895,000$895,000$895,000$895,000
54$993,436$946,001$932,129$1,048,774
55$1,040,076$937,665$908,665$1,078,733
56$1,089,751$927,198$882,692$1,105,169
57$1,142,716$914,440$854,072$1,132,917
58$1,199,250$899,225$822,661$1,162,113
59$1,259,660$881,373$788,306$1,192,910
60$1,324,281$860,696$750,850$1,225,476
61$1,393,482$836,995$710,128$1,260,000
62$1,467,666$810,057$665,966$1,296,691
63$1,547,277$779,658$618,185$1,335,782
64$1,632,800$745,562$566,595$1,377,533
65$1,724,769$707,518$511,000$1,422,233
66$1,823,770$665,261$451,192$1,470,203
67$1,930,445$618,510$386,958$1,521,798
68$2,045,502$566,969$318,073$1,577,416
69$2,169,717$510,323$244,302$1,637,496
70$2,303,942$448,243$165,400$1,702,526
71$2,449,115$380,378$81,112$1,773,049
72$2,606,266$306,358$0$1,849,665
73$2,776,527$225,791$0$1,935,493
74$2,961,145$138,267$0$2,052,993
75$3,161,488$43,348$0$2,180,539
76$3,379,062$0$0$2,319,124
77$3,615,525$0$0$2,477,033
78$3,872,699$0$0$2,654,536
79$4,152,589$0$0$2,847,778
80$4,457,401$0$0$3,058,288
81$4,789,563$0$0$3,287,751
82$5,151,747$0$0$3,538,021
83$5,546,894$0$0$3,811,139
84$5,978,241$0$0$4,109,351
85$6,449,350$0$0$4,435,128
86$6,964,144$0$0$4,791,194
87$7,526,941$0$0$5,180,544
88$8,142,496$0$0$5,606,478
89$8,816,044$0$0$6,072,629
90$9,553,348$0$0$6,582,998
91$10,360,756$0$0$7,141,990
92$11,245,259$0$0$7,754,456
93$12,214,554$0$0$8,425,739
94$13,277,118$0$0$9,161,724
95$14,442,289$0$0$9,968,890
96$15,720,352$0$0$10,854,376
97$17,122,632$0$0$11,826,045
98$18,661,608$0$0$12,892,557
99$20,351,022$0$0$14,063,450
100$22,206,012$0$0$15,349,235