Can I retire at age 54 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$77,789$77,097$76,421$75,761$75,116$73,570
2 years$38,510$37,792$37,097$36,423$35,770$34,218
3 years$25,418$24,698$24,004$23,337$22,694$21,186
4 years$18,874$18,155$17,469$16,813$16,185$14,733
5 years$14,948$14,234$13,557$12,914$12,304$10,912
6 years$12,332$11,623$10,956$10,327$9,736$8,404
7 years$10,464$9,761$9,104$8,491$7,918$6,648
8 years$9,063$8,367$7,721$7,123$6,568$5,360
9 years$7,975$7,285$6,650$6,067$5,532$4,383
10 years$7,104$6,421$5,798$5,230$4,713$3,623
11 years$6,393$5,717$5,104$4,551$4,054$3,021
12 years$5,800$5,131$4,530$3,992$3,513$2,537
13 years$5,299$4,637$4,047$3,525$3,063$2,142
14 years$4,870$4,215$3,636$3,129$2,685$1,816
15 years$4,498$3,850$3,283$2,790$2,364$1,546
16 years$4,173$3,533$2,977$2,498$2,089$1,320
17 years$3,887$3,253$2,709$2,245$1,853$1,131
18 years$3,633$3,006$2,473$2,023$1,647$970
19 years$3,406$2,786$2,264$1,828$1,468$834
20 years$3,202$2,589$2,077$1,656$1,312$718
21 years$3,017$2,412$1,911$1,503$1,174$619
22 years$2,850$2,251$1,761$1,366$1,052$535
23 years$2,697$2,105$1,626$1,244$944$462
24 years$2,557$1,973$1,504$1,135$849$399
25 years$2,429$1,851$1,393$1,036$764$346
26 years$2,310$1,740$1,292$948$688$299
27 years$2,201$1,637$1,200$867$620$259
28 years$2,100$1,543$1,115$795$560$225
29 years$2,005$1,456$1,038$729$505$195
30 years$1,918$1,375$967$669$457$169
31 years$1,836$1,299$901$614$413$147
32 years$1,759$1,230$841$564$373$127
33 years$1,687$1,164$785$519$338$111
34 years$1,619$1,104$734$478$306$96
35 years$1,556$1,047$686$440$277$83
36 years$1,496$994$642$405$251$73
37 years$1,440$944$600$373$228$63
38 years$1,386$897$562$344$206$55
39 years$1,336$853$527$317$187$48
40 years$1,288$811$494$292$170$41
41 years$1,242$772$463$270$154$36
42 years$1,199$736$434$249$140$31
43 years$1,158$701$408$230$127$27
44 years$1,119$668$383$212$115$24
45 years$1,082$637$359$196$104$21
46 years$1,047$608$337$181$95$18
47 years$1,013$580$317$167$86$16
48 years$980$554$298$155$78$13
49 years$949$529$280$143$71$12
50 years$920$505$263$132$65$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $942,000, adding $3,147 every year, while hoping to spend $50,915 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: 40/47/13 Blend
53$942,000$942,000$942,000$942,000
54$1,041,330$991,404$976,803$1,078,827
55$1,093,373$985,810$955,353$1,100,043
56$1,149,017$978,235$931,478$1,117,745
57$1,208,577$968,529$905,042$1,135,781
58$1,272,396$956,531$875,906$1,154,207
59$1,340,852$942,073$843,920$1,173,084
60$1,414,359$924,974$808,931$1,192,487
61$1,493,371$905,045$770,778$1,212,499
62$1,578,386$882,084$729,290$1,233,220
63$1,669,953$855,877$684,293$1,254,761
64$1,768,673$826,200$635,601$1,277,252
65$1,875,206$792,812$583,023$1,300,840
66$1,990,279$755,461$526,355$1,325,694
67$2,114,689$713,880$465,390$1,352,006
68$2,249,312$667,786$399,906$1,379,993
69$2,395,114$616,879$329,674$1,409,902
70$2,553,153$560,844$254,456$1,442,012
71$2,724,595$499,345$174,000$1,476,638
72$2,910,721$432,030$88,046$1,514,137
73$3,112,940$358,526$0$1,554,909
74$3,332,804$278,437$0$1,599,916
75$3,572,017$191,349$0$1,662,220
76$3,832,458$96,819$0$1,730,207
77$4,116,190$0$0$1,804,556
78$4,425,487$0$0$1,888,933
79$4,762,850$0$0$2,035,695
80$5,131,031$0$0$2,195,980
81$5,533,062$0$0$2,371,123
82$5,972,278$0$0$2,562,592
83$6,452,351$0$0$2,772,004
84$6,977,325$0$0$3,001,139
85$7,551,652$0$0$3,251,956
86$8,180,234$0$0$3,526,616
87$8,868,467$0$0$3,827,493
88$9,622,297$0$0$4,157,207
89$10,448,268$0$0$4,518,639
90$11,353,590$0$0$4,914,966
91$12,346,203$0$0$5,349,685
92$13,434,850$0$0$5,826,646
93$14,629,163$0$0$6,350,093
94$15,939,751$0$0$6,924,699
95$17,378,299$0$0$7,555,612
96$18,957,679$0$0$8,248,503
97$20,692,069$0$0$9,009,619
98$22,597,089$0$0$9,845,842
99$24,689,946$0$0$10,764,752
100$26,989,595$0$0$11,774,702