Can I retire at age 54 with 946,000?

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 $946,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$78,120$77,424$76,745$76,082$75,435$72,788
2 years$38,673$37,953$37,255$36,578$35,922$33,282
3 years$25,526$24,803$24,106$23,436$22,790$20,242
4 years$18,954$18,233$17,543$16,884$16,254$13,816
5 years$15,011$14,295$13,614$12,969$12,356$10,035
6 years$12,384$11,673$11,002$10,371$9,777$7,574
7 years$10,508$9,803$9,143$8,527$7,951$5,867
8 years$9,102$8,403$7,754$7,153$6,596$4,628
9 years$8,008$7,316$6,679$6,093$5,555$3,701
10 years$7,134$6,449$5,822$5,252$4,733$2,990
11 years$6,420$5,741$5,126$4,571$4,071$2,434
12 years$5,825$5,153$4,549$4,009$3,528$1,995
13 years$5,321$4,657$4,064$3,539$3,076$1,643
14 years$4,890$4,233$3,652$3,142$2,697$1,358
15 years$4,517$3,867$3,297$2,802$2,374$1,126
16 years$4,191$3,548$2,989$2,509$2,098$937
17 years$3,904$3,267$2,720$2,254$1,861$781
18 years$3,648$3,019$2,483$2,032$1,654$652
19 years$3,420$2,798$2,273$1,836$1,475$545
20 years$3,215$2,600$2,086$1,663$1,317$456
21 years$3,030$2,422$1,919$1,509$1,179$382
22 years$2,862$2,261$1,769$1,372$1,056$321
23 years$2,708$2,114$1,633$1,249$948$269
24 years$2,568$1,981$1,510$1,140$852$226
25 years$2,439$1,859$1,399$1,041$767$190
26 years$2,320$1,747$1,297$952$691$160
27 years$2,210$1,644$1,205$871$623$134
28 years$2,108$1,549$1,120$798$562$113
29 years$2,014$1,462$1,042$732$508$95
30 years$1,926$1,380$971$672$459$80
31 years$1,843$1,305$905$617$415$67
32 years$1,766$1,235$844$567$375$57
33 years$1,694$1,169$788$521$339$48
34 years$1,626$1,108$737$480$307$40
35 years$1,563$1,051$689$442$278$34
36 years$1,502$998$644$407$252$28
37 years$1,446$948$603$375$229$24
38 years$1,392$901$565$345$207$20
39 years$1,341$856$529$318$188$17
40 years$1,293$815$496$294$170$14
41 years$1,248$776$465$271$155$12
42 years$1,204$739$436$250$140$10
43 years$1,163$704$409$231$127$9
44 years$1,124$671$384$213$116$7
45 years$1,087$640$361$197$105$6
46 years$1,051$610$339$182$95$5
47 years$1,017$582$318$168$87$4
48 years$984$556$299$155$79$4
49 years$953$531$281$143$71$3
50 years$924$507$264$133$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $946,000, adding $3,525 every year, while hoping to spend $55,993 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: 37/43/20 Blend
53$946,000$946,000$946,000$946,000
54$1,046,128$995,990$981,327$1,078,412
55$1,093,257$985,217$954,625$1,091,391
56$1,143,316$972,040$925,153$1,099,889
57$1,196,546$956,282$892,757$1,107,915
58$1,253,209$937,754$857,279$1,115,459
59$1,313,591$916,259$818,553$1,122,514
60$1,378,008$891,587$776,405$1,129,077
61$1,446,804$863,514$730,653$1,135,152
62$1,520,356$831,804$681,109$1,140,747
63$1,599,080$796,210$627,573$1,145,876
64$1,683,428$756,466$569,839$1,150,565
65$1,773,899$712,294$507,689$1,154,845
66$1,871,038$663,398$440,899$1,158,760
67$1,975,446$609,467$369,231$1,162,363
68$2,087,781$550,171$292,440$1,165,726
69$2,208,766$485,160$210,268$1,168,931
70$2,339,194$414,067$122,446$1,172,080
71$2,479,938$336,502$28,694$1,175,297
72$2,631,955$252,054$0$1,178,725
73$2,796,298$160,288$0$1,197,763
74$2,974,124$60,746$0$1,224,907
75$3,166,706$0$0$1,254,326
76$3,375,442$0$0$1,308,626
77$3,601,869$0$0$1,398,818
78$3,847,679$0$0$1,496,845
79$4,114,732$0$0$1,603,465
80$4,405,074$0$0$1,719,510
81$4,720,956$0$0$1,845,894
82$5,064,854$0$0$1,983,626
83$5,439,495$0$0$2,133,814
84$5,847,876$0$0$2,297,678
85$6,293,300$0$0$2,476,563
86$6,779,398$0$0$2,671,947
87$7,310,170$0$0$2,885,457
88$7,890,018$0$0$3,118,885
89$8,523,788$0$0$3,374,206
90$9,216,816$0$0$3,653,590
91$9,974,975$0$0$3,959,432
92$10,804,736$0$0$4,294,364
93$11,713,220$0$0$4,661,288
94$12,708,271$0$0$5,063,398
95$13,798,527$0$0$5,504,213
96$14,993,501$0$0$5,987,609
97$16,303,668$0$0$6,517,852
98$17,740,569$0$0$7,099,646
99$19,316,913$0$0$7,738,166
100$21,046,698$0$0$8,439,118