Can I retire at age 54 with 960,000?

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 $960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$79,276$78,570$77,881$77,208$76,552$74,131
2 years$39,245$38,515$37,806$37,119$36,453$34,036
3 years$25,904$25,170$24,463$23,783$23,127$20,790
4 years$19,234$18,502$17,803$17,134$16,495$14,255
5 years$15,234$14,506$13,816$13,161$12,539$10,403
6 years$12,567$11,845$11,165$10,525$9,922$7,891
7 years$10,664$9,948$9,278$8,653$8,069$6,143
8 years$9,236$8,527$7,869$7,259$6,694$4,872
9 years$8,127$7,424$6,777$6,183$5,637$3,918
10 years$7,240$6,544$5,909$5,330$4,803$3,183
11 years$6,515$5,826$5,202$4,638$4,131$2,607
12 years$5,911$5,229$4,617$4,068$3,580$2,149
13 years$5,400$4,725$4,125$3,592$3,122$1,780
14 years$4,963$4,295$3,706$3,188$2,736$1,481
15 years$4,584$3,924$3,346$2,844$2,409$1,236
16 years$4,253$3,600$3,034$2,546$2,129$1,035
17 years$3,961$3,316$2,760$2,288$1,888$868
18 years$3,702$3,064$2,520$2,062$1,679$730
19 years$3,471$2,839$2,307$1,863$1,496$614
20 years$3,263$2,639$2,117$1,687$1,337$518
21 years$3,075$2,458$1,947$1,531$1,196$437
22 years$2,904$2,294$1,795$1,392$1,072$369
23 years$2,748$2,146$1,657$1,268$962$312
24 years$2,606$2,010$1,533$1,156$865$264
25 years$2,475$1,887$1,420$1,056$778$223
26 years$2,354$1,773$1,317$966$701$189
27 years$2,243$1,669$1,223$884$632$160
28 years$2,140$1,572$1,136$810$570$136
29 years$2,044$1,483$1,058$743$515$115
30 years$1,954$1,401$985$682$465$98
31 years$1,871$1,324$918$626$421$83
32 years$1,792$1,253$857$575$381$70
33 years$1,719$1,187$800$529$344$60
34 years$1,650$1,125$748$487$312$50
35 years$1,586$1,067$699$448$282$43
36 years$1,525$1,013$654$413$256$36
37 years$1,467$962$612$380$232$31
38 years$1,413$914$573$350$210$26
39 years$1,361$869$537$323$191$22
40 years$1,312$827$503$298$173$19
41 years$1,266$787$472$275$157$16
42 years$1,222$750$443$254$142$14
43 years$1,180$714$415$234$129$12
44 years$1,141$681$390$216$117$10
45 years$1,103$649$366$200$106$8
46 years$1,067$619$344$185$97$7
47 years$1,032$591$323$170$88$6
48 years$999$564$304$158$80$5
49 years$967$539$285$146$72$4
50 years$937$515$268$135$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $960,000, adding $6,025 every year, while hoping to spend $38,226 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: 60/34/6 Blend
53$960,000$960,000$960,000$960,000
54$1,064,135$1,013,255$998,375$1,126,406
55$1,132,004$1,022,232$991,148$1,177,780
56$1,205,515$1,030,368$982,398$1,228,847
57$1,285,203$1,037,581$972,034$1,283,572
58$1,371,656$1,043,785$959,959$1,342,307
59$1,465,521$1,048,886$946,073$1,405,442
60$1,567,509$1,052,787$930,272$1,473,404
61$1,678,405$1,055,383$912,446$1,546,668
62$1,799,068$1,056,563$892,479$1,625,756
63$1,930,447$1,056,209$870,251$1,711,247
64$2,073,585$1,054,196$845,637$1,803,776
65$2,229,630$1,050,390$818,505$1,904,049
66$2,399,844$1,044,651$788,716$2,012,839
67$2,585,618$1,036,828$756,128$2,131,006
68$2,788,481$1,026,764$720,589$2,259,495
69$3,010,120$1,014,289$681,942$2,399,350
70$3,252,388$999,224$640,023$2,551,723
71$3,517,327$981,382$594,660$2,717,887
72$3,807,186$960,561$545,672$2,899,246
73$4,124,439$936,549$492,873$3,097,349
74$4,471,814$909,122$436,066$3,313,907
75$4,852,311$878,041$375,046$3,550,807
76$5,269,236$843,055$309,600$3,810,132
77$5,726,231$803,897$239,504$4,094,180
78$6,227,304$760,285$164,525$4,405,489
79$6,776,873$711,923$84,420$4,746,856
80$7,379,800$658,493$0$5,121,369
81$8,041,444$599,664$0$5,532,506
82$8,767,706$535,082$0$5,989,728
83$9,565,087$464,376$0$6,491,791
84$10,440,748$387,152$0$7,043,290
85$11,402,577$302,995$0$7,649,292
86$12,459,264$211,466$0$8,315,387
87$13,620,382$112,101$0$9,047,738
88$14,896,478$4,411$0$9,853,146
89$16,299,170$0$0$10,739,107
90$17,841,259$0$0$11,755,840
91$19,536,848$0$0$12,875,678
92$21,401,474$0$0$14,107,243
93$23,452,256$0$0$15,461,853
94$25,708,054$0$0$16,951,976
95$28,189,649$0$0$18,591,352
96$30,919,937$0$0$20,395,118
97$33,924,146$0$0$22,379,952
98$37,230,070$0$0$24,564,232
99$40,868,337$0$0$26,968,207
100$44,872,693$0$0$29,614,188