Can I retire at age 54 with 896,000?

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 $896,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$73,991$73,332$72,689$72,061$71,448$68,913
2 years$36,629$35,947$35,286$34,645$34,023$31,496
3 years$24,177$23,492$22,832$22,197$21,586$19,146
4 years$17,952$17,269$16,616$15,992$15,395$13,062
5 years$14,218$13,539$12,895$12,283$11,703$9,482
6 years$11,729$11,056$10,421$9,823$9,260$7,153
7 years$9,953$9,285$8,660$8,076$7,531$5,537
8 years$8,621$7,959$7,344$6,775$6,248$4,366
9 years$7,585$6,929$6,326$5,771$5,261$3,489
10 years$6,757$6,108$5,515$4,974$4,483$2,817
11 years$6,080$5,437$4,855$4,329$3,856$2,292
12 years$5,517$4,880$4,309$3,797$3,341$1,877
13 years$5,040$4,410$3,850$3,352$2,914$1,544
14 years$4,632$4,009$3,459$2,976$2,554$1,276
15 years$4,279$3,662$3,123$2,654$2,249$1,058
16 years$3,970$3,360$2,831$2,376$1,987$879
17 years$3,697$3,094$2,576$2,135$1,762$732
18 years$3,456$2,859$2,352$1,924$1,567$611
19 years$3,239$2,650$2,153$1,739$1,397$510
20 years$3,045$2,463$1,976$1,575$1,247$427
21 years$2,870$2,294$1,818$1,429$1,116$357
22 years$2,710$2,141$1,675$1,299$1,001$300
23 years$2,565$2,003$1,547$1,183$898$251
24 years$2,432$1,876$1,430$1,079$807$211
25 years$2,310$1,761$1,325$986$726$177
26 years$2,197$1,655$1,229$901$654$149
27 years$2,093$1,557$1,141$825$590$125
28 years$1,997$1,468$1,061$756$532$105
29 years$1,907$1,384$987$693$481$88
30 years$1,824$1,308$919$636$434$74
31 years$1,746$1,236$857$584$393$62
32 years$1,673$1,170$800$537$355$52
33 years$1,605$1,108$747$494$321$44
34 years$1,540$1,050$698$454$291$37
35 years$1,480$996$652$418$264$31
36 years$1,423$945$610$385$239$26
37 years$1,369$898$571$355$216$22
38 years$1,319$853$535$327$196$19
39 years$1,271$811$501$302$178$16
40 years$1,225$772$470$278$161$13
41 years$1,182$735$440$257$146$11
42 years$1,141$700$413$237$133$9
43 years$1,102$667$388$219$121$8
44 years$1,065$635$364$202$109$7
45 years$1,029$606$342$186$99$6
46 years$995$578$321$172$90$5
47 years$963$552$301$159$82$4
48 years$932$527$283$147$74$3
49 years$903$503$266$136$68$3
50 years$875$480$250$126$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $896,000, adding $6,659 every year, while hoping to spend $48,149 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: 74/8/18 Blend
53$896,000$896,000$896,000$896,000
54$994,261$946,773$932,885$1,063,211
55$1,044,445$941,934$912,906$1,104,976
56$1,098,135$935,245$890,645$1,144,194
57$1,155,636$926,564$865,973$1,185,909
58$1,217,285$915,740$838,757$1,230,358
59$1,283,452$902,615$808,859$1,277,803
60$1,354,540$887,019$776,132$1,328,534
61$1,430,995$868,775$740,425$1,382,869
62$1,513,305$847,693$701,577$1,441,161
63$1,602,006$823,574$659,423$1,503,799
64$1,697,685$796,204$613,789$1,571,215
65$1,800,991$765,359$564,493$1,643,882
66$1,912,633$730,803$511,344$1,722,324
67$2,033,393$692,284$454,146$1,807,122
68$2,164,129$649,536$392,690$1,898,915
69$2,305,785$602,278$326,760$1,998,408
70$2,459,399$550,213$256,130$2,106,381
71$2,626,111$493,028$180,564$2,223,695
72$2,807,178$430,389$99,816$2,351,300
73$3,003,980$361,948$13,629$2,490,244
74$3,218,035$287,332$0$2,641,686
75$3,451,014$206,152$0$2,821,950
76$3,704,757$117,992$0$3,021,172
77$3,981,286$22,418$0$3,238,344
78$4,282,829$0$0$3,475,244
79$4,611,836$0$0$3,740,961
80$4,971,004$0$0$4,033,229
81$5,363,304$0$0$4,352,494
82$5,792,003$0$0$4,701,424
83$6,260,702$0$0$5,082,950
84$6,773,362$0$0$5,500,305
85$7,334,347$0$0$5,957,045
86$7,948,461$0$0$6,457,087
87$8,620,993$0$0$7,004,745
88$9,357,770$0$0$7,604,769
89$10,165,208$0$0$8,262,389
90$11,050,372$0$0$8,983,368
91$12,021,045$0$0$9,774,051
92$13,085,797$0$0$10,641,426
93$14,254,071$0$0$11,593,191
94$15,536,264$0$0$12,637,827
95$16,943,832$0$0$13,784,672
96$18,489,392$0$0$15,044,016
97$20,186,844$0$0$16,427,191
98$22,051,499$0$0$17,946,685
99$24,100,225$0$0$19,616,250
100$26,351,605$0$0$21,451,040