Can I retire at age 54 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$77,624$76,933$76,258$75,600$74,957$71,983
2 years$38,428$37,712$37,019$36,346$35,694$32,734
3 years$25,364$24,645$23,953$23,287$22,646$19,794
4 years$18,834$18,117$17,432$16,777$16,151$13,429
5 years$14,916$14,204$13,528$12,886$12,278$9,692
6 years$12,305$11,599$10,933$10,305$9,715$7,267
7 years$10,441$9,740$9,085$8,473$7,901$5,590
8 years$9,044$8,349$7,705$7,108$6,555$4,379
9 years$7,958$7,270$6,636$6,054$5,520$3,476
10 years$7,089$6,408$5,786$5,219$4,703$2,787
11 years$6,379$5,704$5,094$4,542$4,045$2,251
12 years$5,788$5,120$4,520$3,984$3,505$1,830
13 years$5,288$4,627$4,039$3,517$3,057$1,495
14 years$4,859$4,206$3,629$3,122$2,679$1,225
15 years$4,489$3,842$3,276$2,784$2,359$1,008
16 years$4,165$3,525$2,970$2,493$2,085$831
17 years$3,879$3,246$2,703$2,240$1,849$686
18 years$3,625$3,000$2,467$2,019$1,644$568
19 years$3,399$2,780$2,259$1,824$1,465$470
20 years$3,195$2,584$2,073$1,652$1,309$390
21 years$3,011$2,406$1,907$1,499$1,171$324
22 years$2,843$2,246$1,757$1,363$1,050$269
23 years$2,691$2,101$1,623$1,242$942$224
24 years$2,552$1,968$1,501$1,132$847$186
25 years$2,423$1,847$1,390$1,034$762$155
26 years$2,305$1,736$1,289$946$687$129
27 years$2,196$1,634$1,197$865$619$107
28 years$2,095$1,540$1,113$793$559$90
29 years$2,001$1,452$1,036$727$504$75
30 years$1,913$1,372$965$667$456$62
31 years$1,832$1,297$899$613$412$52
32 years$1,755$1,227$839$563$373$43
33 years$1,683$1,162$783$518$337$36
34 years$1,616$1,101$732$477$305$30
35 years$1,553$1,045$684$439$277$25
36 years$1,493$991$640$404$251$21
37 years$1,437$942$599$372$227$17
38 years$1,383$895$561$343$206$15
39 years$1,333$851$526$316$187$12
40 years$1,285$810$493$292$169$10
41 years$1,240$771$462$269$154$8
42 years$1,197$734$433$248$139$7
43 years$1,156$699$407$229$127$6
44 years$1,117$667$382$212$115$5
45 years$1,080$636$358$196$104$4
46 years$1,044$606$337$181$95$3
47 years$1,011$579$316$167$86$3
48 years$978$552$297$154$78$2
49 years$947$528$279$143$71$2
50 years$918$504$263$132$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $940,000, adding $6,528 every year, while hoping to spend $40,525 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: 65/16/19 Blend
53$940,000$940,000$940,000$940,000
54$1,042,614$992,794$978,224$1,105,001
55$1,105,842$998,322$967,876$1,153,201
56$1,174,161$1,002,764$955,823$1,200,626
57$1,248,048$1,006,021$941,966$1,251,490
58$1,328,026$1,007,994$926,199$1,306,130
59$1,414,672$1,008,572$908,413$1,364,918
60$1,508,617$1,007,641$888,494$1,428,268
61$1,610,559$1,005,079$866,322$1,496,633
62$1,721,263$1,000,754$841,770$1,570,515
63$1,841,572$994,531$814,709$1,650,469
64$1,972,411$986,262$785,001$1,737,108
65$2,114,800$975,792$752,501$1,831,106
66$2,269,861$962,957$717,061$1,933,212
67$2,438,827$947,582$678,523$2,044,249
68$2,623,057$929,484$636,724$2,165,126
69$2,824,047$908,466$591,492$2,296,848
70$3,043,440$884,321$542,647$2,440,525
71$3,283,049$856,831$490,004$2,597,379
72$3,544,867$825,762$433,366$2,768,763
73$3,831,089$790,870$372,529$2,956,167
74$4,144,132$751,895$307,281$3,161,236
75$4,486,657$708,562$237,399$3,385,789
76$4,861,594$660,579$162,650$3,631,828
77$5,272,170$607,641$82,791$3,901,567
78$5,721,937$549,421$0$4,197,445
79$6,214,808$485,577$0$4,522,650
80$6,755,094$415,745$0$4,897,605
81$7,347,539$339,542$0$5,308,842
82$7,997,372$256,563$0$5,760,037
83$8,710,349$166,380$0$6,255,243
84$9,492,814$68,542$0$6,798,926
85$10,351,751$0$0$7,396,010
86$11,294,856$0$0$8,058,511
87$12,330,605$0$0$8,799,411
88$13,468,337$0$0$9,613,328
89$14,718,337$0$0$10,507,631
90$16,091,939$0$0$11,490,436
91$17,601,626$0$0$12,570,684
92$19,261,153$0$0$13,758,227
93$21,085,673$0$0$15,063,917
94$23,091,881$0$0$16,499,711
95$25,298,169$0$0$18,078,783
96$27,724,802$0$0$19,815,648
97$30,394,108$0$0$21,726,298
98$33,330,686$0$0$23,828,351
99$36,561,641$0$0$26,141,222
100$40,116,837$0$0$28,686,301