Can I retire at age 54 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$78,946$78,242$77,556$76,887$76,233$74,090
2 years$39,082$38,354$37,649$36,965$36,301$34,158
3 years$25,796$25,065$24,361$23,684$23,031$20,956
4 years$19,154$18,425$17,729$17,063$16,426$14,434
5 years$15,170$14,446$13,758$13,106$12,487$10,583
6 years$12,515$11,796$11,119$10,481$9,880$8,068
7 years$10,619$9,906$9,240$8,617$8,035$6,313
8 years$9,198$8,491$7,836$7,228$6,666$5,034
9 years$8,093$7,393$6,749$6,157$5,614$4,069
10 years$7,210$6,517$5,884$5,307$4,783$3,325
11 years$6,488$5,802$5,180$4,619$4,114$2,739
12 years$5,886$5,207$4,597$4,052$3,565$2,271
13 years$5,378$4,706$4,107$3,577$3,109$1,893
14 years$4,942$4,277$3,691$3,175$2,725$1,585
15 years$4,565$3,908$3,332$2,832$2,399$1,331
16 years$4,235$3,585$3,021$2,535$2,121$1,122
17 years$3,945$3,302$2,749$2,278$1,880$947
18 years$3,687$3,051$2,509$2,053$1,672$802
19 years$3,456$2,828$2,297$1,855$1,490$679
20 years$3,249$2,628$2,108$1,680$1,331$577
21 years$3,062$2,447$1,939$1,525$1,191$490
22 years$2,892$2,285$1,787$1,386$1,068$417
23 years$2,737$2,137$1,650$1,263$958$355
24 years$2,595$2,002$1,526$1,152$861$302
25 years$2,465$1,879$1,414$1,052$775$258
26 years$2,345$1,766$1,311$962$698$220
27 years$2,234$1,662$1,217$880$630$188
28 years$2,131$1,566$1,132$806$568$160
29 years$2,035$1,477$1,053$740$513$137
30 years$1,946$1,395$981$679$463$117
31 years$1,863$1,319$915$623$419$100
32 years$1,785$1,248$853$573$379$85
33 years$1,712$1,182$797$527$343$73
34 years$1,644$1,120$744$485$311$62
35 years$1,579$1,062$696$446$281$53
36 years$1,518$1,008$651$411$255$45
37 years$1,461$958$609$379$231$39
38 years$1,407$910$571$349$209$33
39 years$1,356$865$535$322$190$28
40 years$1,307$823$501$297$172$24
41 years$1,261$784$470$274$156$21
42 years$1,217$746$441$253$142$18
43 years$1,175$711$414$233$129$15
44 years$1,136$678$388$215$117$13
45 years$1,098$646$365$199$106$11
46 years$1,062$617$342$184$96$10
47 years$1,028$589$322$170$87$8
48 years$995$562$302$157$79$7
49 years$963$537$284$145$72$6
50 years$933$513$267$134$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $956,000, adding $4,892 every year, while hoping to spend $40,574 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: 69/13/18 Blend
53$956,000$956,000$956,000$956,000
54$1,058,558$1,007,890$993,072$1,126,676
55$1,123,361$1,014,106$983,170$1,178,947
56$1,193,413$1,019,267$971,575$1,230,873
57$1,269,208$1,023,278$958,190$1,286,679
58$1,351,288$1,026,039$942,910$1,346,745
59$1,440,247$1,027,443$925,625$1,411,487
60$1,536,740$1,027,375$906,221$1,481,367
61$1,641,488$1,025,717$884,580$1,556,894
62$1,755,282$1,022,339$860,576$1,638,630
63$1,878,993$1,017,107$834,078$1,727,195
64$2,013,580$1,009,875$804,949$1,823,271
65$2,160,097$1,000,491$773,047$1,927,615
66$2,319,705$988,792$738,222$2,041,057
67$2,493,680$974,608$700,317$2,164,516
68$2,683,427$957,756$659,170$2,299,007
69$2,890,493$938,043$614,609$2,445,647
70$3,116,581$915,265$566,456$2,605,669
71$3,363,565$889,205$514,524$2,780,435
72$3,633,507$859,634$458,619$2,971,446
73$3,928,679$826,311$398,538$3,180,359
74$4,251,583$788,979$334,067$3,409,000
75$4,604,971$747,365$264,985$3,659,386
76$4,991,876$701,184$191,060$3,933,741
77$5,415,637$650,132$112,051$4,234,516
78$5,879,932$593,888$27,704$4,564,418
79$6,388,809$532,113$0$4,926,430
80$6,946,729$464,448$0$5,335,812
81$7,558,605$390,515$0$5,790,683
82$8,229,846$309,913$0$6,289,775
83$8,966,411$222,221$0$6,837,562
84$9,774,866$126,990$0$7,438,974
85$10,662,441$23,751$0$8,099,443
86$11,637,099$0$0$8,824,960
87$12,707,617$0$0$9,634,710
88$13,883,658$0$0$10,528,069
89$15,175,872$0$0$11,509,736
90$16,595,988$0$0$12,588,628
91$18,156,929$0$0$13,774,572
92$19,872,933$0$0$15,078,392
93$21,759,685$0$0$16,512,014
94$23,834,467$0$0$18,088,578
95$26,116,319$0$0$19,822,560
96$28,626,217$0$0$21,729,910
97$31,387,275$0$0$23,828,201
98$34,424,959$0$0$26,136,796
99$37,767,326$0$0$28,677,028
100$41,445,291$0$0$31,472,404