Can I retire at age 54 with 924,000?

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 $924,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$76,303$75,623$74,960$74,313$73,681$73,278
2 years$37,774$37,070$36,388$35,727$35,086$34,680
3 years$24,932$24,226$23,546$22,891$22,260$21,863
4 years$18,513$17,809$17,135$16,492$15,876$15,491
5 years$14,662$13,962$13,298$12,667$12,069$11,696
6 years$12,096$11,401$10,747$10,130$9,550$9,191
7 years$10,264$9,575$8,930$8,328$7,766$7,421
8 years$8,890$8,207$7,574$6,987$6,443$6,112
9 years$7,822$7,146$6,523$5,951$5,426$5,108
10 years$6,968$6,299$5,687$5,130$4,623$4,319
11 years$6,270$5,607$5,007$4,464$3,976$3,686
12 years$5,689$5,033$4,443$3,916$3,446$3,168
13 years$5,198$4,548$3,970$3,457$3,005$2,740
14 years$4,777$4,134$3,567$3,069$2,634$2,382
15 years$4,412$3,777$3,221$2,737$2,319$2,079
16 years$4,094$3,465$2,920$2,451$2,050$1,822
17 years$3,813$3,191$2,657$2,202$1,817$1,601
18 years$3,564$2,949$2,425$1,984$1,616$1,411
19 years$3,341$2,733$2,220$1,793$1,440$1,246
20 years$3,140$2,540$2,038$1,624$1,286$1,103
21 years$2,959$2,366$1,874$1,474$1,151$977
22 years$2,795$2,208$1,728$1,340$1,032$868
23 years$2,645$2,065$1,595$1,220$926$772
24 years$2,508$1,935$1,475$1,113$833$687
25 years$2,382$1,816$1,366$1,017$749$612
26 years$2,266$1,707$1,267$929$675$546
27 years$2,159$1,606$1,177$851$608$487
28 years$2,059$1,513$1,094$779$549$435
29 years$1,967$1,428$1,018$715$496$389
30 years$1,881$1,348$948$656$448$348
31 years$1,800$1,275$884$602$405$311
32 years$1,725$1,206$825$554$366$278
33 years$1,655$1,142$770$509$332$249
34 years$1,589$1,083$720$468$300$223
35 years$1,526$1,027$673$431$272$200
36 years$1,468$975$629$397$246$179
37 years$1,412$926$589$366$223$161
38 years$1,360$880$552$337$202$144
39 years$1,310$836$517$311$184$129
40 years$1,263$796$484$287$166$116
41 years$1,219$758$454$265$151$104
42 years$1,176$721$426$244$137$93
43 years$1,136$687$400$225$124$84
44 years$1,098$655$375$208$113$75
45 years$1,061$625$352$192$102$67
46 years$1,027$596$331$178$93$61
47 years$993$569$311$164$84$54
48 years$962$543$292$152$77$49
49 years$931$519$275$140$70$44
50 years$902$495$258$130$63$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $924,000, adding $3,413 every year, while hoping to spend $48,857 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: 51/37/12 Blend
53$924,000$924,000$924,000$924,000
54$1,021,769$972,797$958,475$1,070,435
55$1,074,005$968,480$938,600$1,099,769
56$1,129,933$962,315$916,422$1,126,180
57$1,189,876$954,158$891,812$1,153,776
58$1,254,191$943,860$864,636$1,182,684
59$1,323,269$931,259$834,752$1,213,044
60$1,397,540$916,188$802,013$1,245,013
61$1,477,473$898,466$766,265$1,278,767
62$1,563,588$877,903$727,347$1,314,504
63$1,656,452$854,298$685,091$1,352,444
64$1,756,689$827,437$639,320$1,392,833
65$1,864,986$797,096$589,852$1,435,947
66$1,982,096$763,036$536,494$1,482,094
67$2,108,848$725,003$479,045$1,531,615
68$2,246,153$682,731$417,295$1,584,894
69$2,395,013$635,936$351,026$1,642,357
70$2,556,528$584,321$280,010$1,704,479
71$2,731,911$527,570$204,007$1,771,788
72$2,922,493$465,348$122,768$1,844,873
73$3,129,740$397,303$36,034$1,924,388
74$3,355,264$323,062$0$2,011,063
75$3,600,840$242,231$0$2,112,943
76$3,868,421$154,395$0$2,229,085
77$4,160,153$59,114$0$2,355,906
78$4,478,403$0$0$2,494,557
79$4,825,773$0$0$2,664,254
80$5,205,127$0$0$2,875,949
81$5,619,620$0$0$3,107,345
82$6,072,723$0$0$3,360,392
83$6,568,260$0$0$3,637,236
84$7,110,440$0$0$3,940,243
85$7,703,897$0$0$4,272,015
86$8,353,734$0$0$4,635,418
87$9,065,572$0$0$5,033,609
88$9,845,600$0$0$5,470,066
89$10,700,634$0$0$5,948,616
90$11,638,181$0$0$6,473,477
91$12,666,509$0$0$7,049,295
92$13,794,726$0$0$7,681,185
93$15,032,862$0$0$8,374,783
94$16,391,967$0$0$9,136,297
95$17,884,212$0$0$9,972,564
96$19,523,004$0$0$10,891,118
97$21,323,113$0$0$11,900,258
98$23,300,809$0$0$13,009,124
99$25,474,016$0$0$14,227,789
100$27,862,481$0$0$15,567,346