Can I retire at age 54 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$80,102$79,388$78,692$78,013$77,349$74,873
2 years$39,654$38,916$38,200$37,506$36,833$34,361
3 years$26,174$25,432$24,718$24,030$23,368$20,979
4 years$19,435$18,695$17,988$17,313$16,666$14,377
5 years$15,392$14,657$13,960$13,298$12,670$10,486
6 years$12,698$11,969$11,282$10,634$10,025$7,950
7 years$10,775$10,051$9,375$8,743$8,153$6,186
8 years$9,333$8,616$7,951$7,334$6,764$4,903
9 years$8,212$7,502$6,848$6,247$5,696$3,940
10 years$7,315$6,612$5,970$5,385$4,853$3,199
11 years$6,583$5,887$5,256$4,687$4,174$2,618
12 years$5,972$5,283$4,665$4,111$3,617$2,157
13 years$5,456$4,775$4,168$3,629$3,154$1,786
14 years$5,015$4,340$3,745$3,222$2,765$1,485
15 years$4,632$3,965$3,381$2,873$2,434$1,238
16 years$4,297$3,638$3,065$2,573$2,152$1,036
17 years$4,003$3,350$2,789$2,311$1,908$868
18 years$3,741$3,096$2,546$2,083$1,696$729
19 years$3,507$2,869$2,331$1,882$1,512$614
20 years$3,297$2,666$2,139$1,705$1,350$517
21 years$3,107$2,483$1,968$1,547$1,209$436
22 years$2,934$2,318$1,814$1,407$1,083$368
23 years$2,777$2,168$1,674$1,281$972$311
24 years$2,633$2,031$1,549$1,168$874$263
25 years$2,501$1,906$1,434$1,067$786$222
26 years$2,379$1,792$1,330$976$708$188
27 years$2,266$1,686$1,235$893$639$159
28 years$2,162$1,589$1,148$818$576$135
29 years$2,065$1,499$1,069$750$520$114
30 years$1,975$1,415$995$689$470$97
31 years$1,890$1,338$928$632$425$82
32 years$1,811$1,266$866$581$385$69
33 years$1,737$1,199$808$535$348$59
34 years$1,668$1,136$755$492$315$50
35 years$1,602$1,078$706$453$285$42
36 years$1,541$1,023$661$417$259$36
37 years$1,482$972$618$384$234$30
38 years$1,427$923$579$354$212$26
39 years$1,375$878$542$326$193$22
40 years$1,326$835$508$301$175$19
41 years$1,279$795$477$278$159$16
42 years$1,235$757$447$256$144$13
43 years$1,193$722$420$237$131$11
44 years$1,152$688$394$219$119$10
45 years$1,114$656$370$202$108$8
46 years$1,078$626$347$186$98$7
47 years$1,043$597$326$172$89$6
48 years$1,009$570$307$159$81$5
49 years$978$544$288$147$73$4
50 years$947$520$271$136$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $970,000, adding $6,490 every year, while hoping to spend $31,841 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: 28/44/28 Blend
53$970,000$970,000$970,000$970,000
54$1,075,634$1,024,224$1,009,189$1,096,280
55$1,151,471$1,040,533$1,009,119$1,129,601
56$1,233,975$1,056,573$1,007,978$1,162,195
57$1,323,794$1,072,299$1,005,699$1,196,574
58$1,421,639$1,087,659$1,002,208$1,232,912
59$1,528,293$1,102,601$997,429$1,271,405
60$1,644,617$1,117,068$991,281$1,312,268
61$1,771,560$1,130,996$983,682$1,355,741
62$1,910,167$1,144,322$974,542$1,402,092
63$2,061,585$1,156,975$963,770$1,451,615
64$2,227,080$1,168,880$951,270$1,504,639
65$2,408,044$1,179,958$936,940$1,561,528
66$2,606,012$1,190,123$920,675$1,622,685
67$2,822,672$1,199,286$902,364$1,688,557
68$3,059,882$1,207,349$881,891$1,759,640
69$3,319,691$1,214,210$859,135$1,836,483
70$3,604,353$1,219,759$833,970$1,919,695
71$3,916,351$1,223,882$806,262$2,009,951
72$4,258,421$1,226,453$775,873$2,107,997
73$4,633,573$1,227,343$742,658$2,214,661
74$5,045,125$1,226,411$706,465$2,330,857
75$5,496,733$1,223,509$667,136$2,457,599
76$5,992,419$1,218,481$624,505$2,596,009
77$6,536,619$1,211,160$578,400$2,747,328
78$7,134,216$1,201,369$528,638$2,912,929
79$7,790,591$1,188,920$475,031$3,094,330
80$8,511,668$1,173,614$417,382$3,293,213
81$9,303,979$1,155,242$355,485$3,511,434
82$10,174,715$1,133,579$289,124$3,751,049
83$11,131,801$1,108,389$218,074$4,014,326
84$12,183,966$1,079,422$142,101$4,303,779
85$13,340,828$1,046,411$60,960$4,622,179
86$14,612,985$1,009,078$0$4,972,595
87$16,012,111$967,124$0$5,366,072
88$17,551,068$920,235$0$5,818,629
89$19,244,030$868,079$0$6,316,253
90$21,106,610$810,304$0$6,863,600
91$23,156,013$746,538$0$7,465,806
92$25,411,197$676,388$0$8,128,538
93$27,893,047$599,439$0$8,858,048
94$30,624,577$515,252$0$9,661,234
95$33,631,147$423,362$0$10,545,706
96$36,940,697$323,280$0$11,519,859
97$40,584,016$214,488$0$12,592,952
98$44,595,026$96,439$0$13,775,200
99$49,011,110$0$0$15,077,871
100$53,873,458$0$0$16,528,615