Can I retire at age 54 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$79,441$78,733$78,043$77,369$76,711$74,226
2 years$39,327$38,595$37,885$37,197$36,529$34,049
3 years$25,958$25,222$24,514$23,832$23,176$20,778
4 years$19,274$18,541$17,840$17,170$16,529$14,232
5 years$15,265$14,536$13,845$13,188$12,565$10,375
6 years$12,593$11,870$11,188$10,547$9,942$7,861
7 years$10,686$9,968$9,298$8,671$8,086$6,113
8 years$9,256$8,545$7,885$7,274$6,708$4,843
9 years$8,144$7,440$6,791$6,196$5,649$3,889
10 years$7,255$6,558$5,921$5,341$4,813$3,156
11 years$6,528$5,838$5,213$4,648$4,140$2,581
12 years$5,923$5,240$4,626$4,077$3,587$2,125
13 years$5,411$4,735$4,133$3,599$3,128$1,758
14 years$4,973$4,304$3,714$3,195$2,742$1,461
15 years$4,594$3,932$3,353$2,849$2,414$1,218
16 years$4,262$3,608$3,040$2,551$2,134$1,018
17 years$3,970$3,322$2,766$2,292$1,892$853
18 years$3,710$3,070$2,525$2,066$1,682$715
19 years$3,478$2,845$2,312$1,867$1,499$601
20 years$3,270$2,644$2,122$1,691$1,339$506
21 years$3,081$2,463$1,951$1,534$1,199$427
22 years$2,910$2,299$1,799$1,395$1,074$360
23 years$2,754$2,150$1,661$1,271$964$304
24 years$2,611$2,015$1,536$1,159$867$256
25 years$2,480$1,891$1,422$1,058$780$217
26 years$2,359$1,777$1,319$968$703$183
27 years$2,248$1,672$1,225$886$633$155
28 years$2,144$1,576$1,139$812$572$131
29 years$2,048$1,486$1,060$744$516$111
30 years$1,958$1,404$987$683$466$94
31 years$1,875$1,327$920$627$422$79
32 years$1,796$1,256$859$576$381$67
33 years$1,723$1,189$802$530$345$57
34 years$1,654$1,127$749$488$312$48
35 years$1,589$1,069$700$449$283$41
36 years$1,528$1,015$655$414$256$35
37 years$1,470$964$613$381$232$29
38 years$1,416$916$574$351$211$25
39 years$1,364$871$538$324$191$21
40 years$1,315$829$504$299$173$18
41 years$1,269$789$473$276$157$15
42 years$1,225$751$444$254$143$13
43 years$1,183$716$416$235$129$11
44 years$1,143$682$391$217$118$9
45 years$1,105$651$367$200$107$8
46 years$1,069$621$345$185$97$7
47 years$1,034$592$324$171$88$6
48 years$1,001$565$304$158$80$5
49 years$969$540$286$146$73$4
50 years$939$516$269$135$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $962,000, adding $5,650 every year, while hoping to spend $25,509 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: 32/47/21 Blend
53$962,000$962,000$962,000$962,000
54$1,065,952$1,014,966$1,000,055$1,092,987
55$1,147,538$1,037,558$1,006,415$1,136,344
56$1,236,590$1,060,402$1,012,134$1,180,305
57$1,333,844$1,083,483$1,017,162$1,227,127
58$1,440,108$1,106,786$1,021,449$1,277,077
59$1,556,273$1,130,293$1,024,942$1,330,447
60$1,683,319$1,153,983$1,027,583$1,387,563
61$1,822,325$1,177,836$1,029,315$1,448,780
62$1,974,480$1,201,827$1,030,075$1,514,494
63$2,141,093$1,225,932$1,029,798$1,585,140
64$2,323,604$1,250,123$1,028,416$1,661,196
65$2,523,601$1,274,368$1,025,857$1,743,192
66$2,742,832$1,298,636$1,022,047$1,831,713
67$2,983,222$1,322,890$1,016,907$1,927,402
68$3,246,891$1,347,093$1,010,354$2,030,970
69$3,536,176$1,371,202$1,002,302$2,143,202
70$3,853,647$1,395,172$992,661$2,264,964
71$4,202,139$1,418,955$981,335$2,397,209
72$4,584,773$1,442,500$968,225$2,540,992
73$5,004,987$1,465,750$953,228$2,697,475
74$5,466,569$1,488,645$936,234$2,867,941
75$5,973,691$1,511,120$917,130$3,053,804
76$6,530,950$1,533,107$895,796$3,256,625
77$7,143,409$1,554,532$872,108$3,478,128
78$7,816,647$1,575,315$845,934$3,720,211
79$8,556,812$1,595,371$817,139$3,984,970
80$9,370,673$1,614,611$785,580$4,274,720
81$10,265,691$1,632,937$751,107$4,592,009
82$11,250,087$1,650,246$713,564$4,939,652
83$12,332,916$1,666,428$672,788$5,320,753
84$13,524,156$1,681,366$628,609$5,738,736
85$14,834,801$1,694,933$580,849$6,197,377
86$16,276,964$1,706,998$529,320$6,700,842
87$17,863,991$1,717,418$473,829$7,253,725
88$19,610,588$1,726,042$414,173$7,861,095
89$21,532,960$1,732,710$350,139$8,528,539
90$23,648,959$1,737,250$281,506$9,262,221
91$25,978,258$1,739,481$208,042$10,068,940
92$28,542,535$1,739,210$129,506$10,956,191
93$31,365,675$1,736,232$45,646$11,932,244
94$34,473,997$1,730,331$0$13,006,213
95$37,896,502$1,721,274$0$14,197,979
96$41,665,146$1,708,817$0$15,520,356
97$45,815,143$1,692,701$0$16,975,395
98$50,385,294$1,672,651$0$18,576,642
99$55,418,357$1,648,373$0$20,339,031
100$60,961,445$1,619,559$0$22,279,023