Can I retire at age 54 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$78,202$77,506$76,826$76,163$75,515$73,422
2 years$38,714$37,993$37,294$36,617$35,960$33,866
3 years$25,553$24,829$24,132$23,461$22,814$20,786
4 years$18,974$18,252$17,562$16,902$16,271$14,324
5 years$15,027$14,310$13,629$12,982$12,369$10,509
6 years$12,397$11,685$11,014$10,382$9,787$8,015
7 years$10,519$9,813$9,153$8,536$7,960$6,276
8 years$9,111$8,412$7,762$7,160$6,603$5,007
9 years$8,017$7,324$6,686$6,099$5,561$4,050
10 years$7,142$6,456$5,829$5,257$4,738$3,311
11 years$6,427$5,747$5,131$4,576$4,075$2,729
12 years$5,831$5,158$4,554$4,013$3,531$2,265
13 years$5,327$4,661$4,069$3,543$3,079$1,889
14 years$4,896$4,237$3,656$3,145$2,699$1,583
15 years$4,522$3,871$3,301$2,805$2,377$1,330
16 years$4,196$3,551$2,993$2,512$2,101$1,122
17 years$3,908$3,271$2,723$2,257$1,863$948
18 years$3,652$3,022$2,486$2,034$1,656$803
19 years$3,424$2,801$2,276$1,838$1,476$681
20 years$3,219$2,603$2,088$1,664$1,318$578
21 years$3,033$2,424$1,921$1,510$1,180$492
22 years$2,865$2,263$1,771$1,373$1,058$419
23 years$2,711$2,117$1,635$1,251$949$357
24 years$2,571$1,983$1,512$1,141$853$304
25 years$2,442$1,861$1,400$1,042$768$259
26 years$2,323$1,749$1,299$953$692$221
27 years$2,213$1,646$1,206$872$624$189
28 years$2,111$1,551$1,121$799$563$162
29 years$2,016$1,463$1,043$733$508$138
30 years$1,928$1,382$972$672$459$118
31 years$1,845$1,306$906$617$415$101
32 years$1,768$1,236$845$567$375$86
33 years$1,696$1,171$789$522$340$74
34 years$1,628$1,109$737$480$308$63
35 years$1,564$1,052$689$442$279$54
36 years$1,504$999$645$407$252$46
37 years$1,447$949$604$375$229$40
38 years$1,394$902$565$346$207$34
39 years$1,343$857$530$319$188$29
40 years$1,295$816$496$294$171$25
41 years$1,249$776$465$271$155$21
42 years$1,206$739$437$250$140$18
43 years$1,164$705$410$231$127$16
44 years$1,125$672$385$213$116$13
45 years$1,088$640$361$197$105$11
46 years$1,052$611$339$182$95$10
47 years$1,018$583$319$168$87$8
48 years$985$557$299$155$79$7
49 years$954$531$281$144$71$6
50 years$925$508$265$133$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $947,000, adding $5,536 every year, while hoping to spend $31,044 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: 55/35/10 Blend
53$947,000$947,000$947,000$947,000
54$1,049,304$999,113$984,435$1,104,112
55$1,123,303$1,015,039$984,383$1,157,772
56$1,203,809$1,030,705$983,289$1,212,285
57$1,291,453$1,046,066$981,085$1,270,900
58$1,386,930$1,061,071$977,700$1,334,013
59$1,491,003$1,075,671$973,059$1,402,060
60$1,604,515$1,089,807$967,086$1,475,522
61$1,728,389$1,103,422$959,697$1,554,930
62$1,863,645$1,116,450$950,807$1,640,870
63$2,011,405$1,128,824$940,327$1,733,986
64$2,172,903$1,140,471$928,163$1,834,991
65$2,349,498$1,151,313$914,215$1,944,669
66$2,542,687$1,161,267$898,381$2,063,888
67$2,754,117$1,170,246$880,554$2,193,603
68$2,985,604$1,178,155$860,620$2,334,866
69$3,239,146$1,184,895$838,460$2,488,841
70$3,516,943$1,190,359$813,952$2,656,810
71$3,821,418$1,194,433$786,967$2,840,186
72$4,155,241$1,196,998$757,368$3,040,530
73$4,521,350$1,197,927$725,015$3,259,561
74$4,922,985$1,197,082$689,760$3,499,177
75$5,363,711$1,194,320$651,448$3,761,472
76$5,847,456$1,189,488$609,919$4,048,752
77$6,378,547$1,182,424$565,002$4,363,563
78$6,961,751$1,172,955$516,522$4,708,714
79$7,602,319$1,160,899$464,294$5,087,301
80$8,306,035$1,146,062$408,127$5,502,738
81$9,079,270$1,128,239$347,819$5,958,792
82$9,929,045$1,107,212$283,160$6,459,617
83$10,863,093$1,082,751$213,932$7,009,792
84$11,889,934$1,054,612$139,904$7,614,369
85$13,018,956$1,022,536$60,840$8,278,917
86$14,260,500$986,251$0$9,009,578
87$15,625,960$945,466$0$9,815,638
88$17,127,890$899,876$0$10,709,144
89$18,780,121$849,156$0$11,691,863
90$20,597,893$792,965$0$12,772,904
91$22,597,997$730,939$0$13,962,312
92$24,798,934$662,697$0$15,271,160
93$27,221,089$587,832$0$16,711,654
94$29,886,923$505,919$0$18,297,250
95$32,821,184$416,504$0$20,042,784
96$36,051,142$319,110$0$21,964,607
97$39,606,846$213,233$0$24,080,747
98$43,521,403$98,340$0$26,411,075
99$47,831,297$0$0$28,977,497
100$52,576,727$0$0$31,814,223