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%11.6%
1 years$80,102$79,388$78,692$78,013$77,349$76,829
2 years$39,654$38,916$38,200$37,506$36,833$36,309
3 years$26,174$25,432$24,718$24,030$23,368$22,856
4 years$19,435$18,695$17,988$17,313$16,666$16,170
5 years$15,392$14,657$13,960$13,298$12,670$12,190
6 years$12,698$11,969$11,282$10,634$10,025$9,563
7 years$10,775$10,051$9,375$8,743$8,153$7,710
8 years$9,333$8,616$7,951$7,334$6,764$6,338
9 years$8,212$7,502$6,848$6,247$5,696$5,289
10 years$7,315$6,612$5,970$5,385$4,853$4,463
11 years$6,583$5,887$5,256$4,687$4,174$3,802
12 years$5,972$5,283$4,665$4,111$3,617$3,262
13 years$5,456$4,775$4,168$3,629$3,154$2,816
14 years$5,015$4,340$3,745$3,222$2,765$2,443
15 years$4,632$3,965$3,381$2,873$2,434$2,128
16 years$4,297$3,638$3,065$2,573$2,152$1,861
17 years$4,003$3,350$2,789$2,311$1,908$1,632
18 years$3,741$3,096$2,546$2,083$1,696$1,435
19 years$3,507$2,869$2,331$1,882$1,512$1,265
20 years$3,297$2,666$2,139$1,705$1,350$1,117
21 years$3,107$2,483$1,968$1,547$1,209$988
22 years$2,934$2,318$1,814$1,407$1,083$875
23 years$2,777$2,168$1,674$1,281$972$776
24 years$2,633$2,031$1,549$1,168$874$689
25 years$2,501$1,906$1,434$1,067$786$613
26 years$2,379$1,792$1,330$976$708$545
27 years$2,266$1,686$1,235$893$639$485
28 years$2,162$1,589$1,148$818$576$432
29 years$2,065$1,499$1,069$750$520$386
30 years$1,975$1,415$995$689$470$344
31 years$1,890$1,338$928$632$425$307
32 years$1,811$1,266$866$581$385$274
33 years$1,737$1,199$808$535$348$245
34 years$1,668$1,136$755$492$315$219
35 years$1,602$1,078$706$453$285$196
36 years$1,541$1,023$661$417$259$175
37 years$1,482$972$618$384$234$156
38 years$1,427$923$579$354$212$140
39 years$1,375$878$542$326$193$125
40 years$1,326$835$508$301$175$112
41 years$1,279$795$477$278$159$100
42 years$1,235$757$447$256$144$90
43 years$1,193$722$420$237$131$80
44 years$1,152$688$394$219$119$72
45 years$1,114$656$370$202$108$64
46 years$1,078$626$347$186$98$58
47 years$1,043$597$326$172$89$52
48 years$1,009$570$307$159$81$46
49 years$978$544$288$147$73$41
50 years$947$520$271$136$66$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $970,000, adding $3,126 every year, while hoping to spend $36,452 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: 57/20/23 Blend
53$970,000$970,000$970,000$970,000
54$1,072,164$1,020,754$1,005,719$1,126,444
55$1,142,741$1,031,987$1,000,626$1,175,100
56$1,219,294$1,042,548$994,141$1,223,952
57$1,302,395$1,052,366$986,178$1,276,414
58$1,392,673$1,061,366$976,649$1,332,842
59$1,490,818$1,069,465$965,459$1,393,632
60$1,597,591$1,076,579$952,512$1,459,220
61$1,713,829$1,082,614$937,704$1,530,088
62$1,840,451$1,087,473$920,928$1,606,767
63$1,978,470$1,091,053$902,073$1,689,846
64$2,129,002$1,093,242$881,020$1,779,975
65$2,293,273$1,093,924$857,647$1,877,869
66$2,472,633$1,092,973$831,824$1,984,321
67$2,668,570$1,090,257$803,419$2,100,205
68$2,882,720$1,085,635$772,289$2,226,485
69$3,116,884$1,078,958$738,288$2,364,229
70$3,373,048$1,070,068$701,262$2,514,612
71$3,653,394$1,058,798$661,050$2,678,933
72$3,960,330$1,044,968$617,484$2,858,626
73$4,296,503$1,028,391$570,389$3,055,273
74$4,664,830$1,008,866$519,582$3,270,623
75$5,068,525$986,182$464,870$3,506,601
76$5,511,125$960,115$406,053$3,765,338
77$5,996,526$930,428$342,922$4,049,181
78$6,529,022$896,869$275,260$4,360,721
79$7,113,338$859,172$202,838$4,702,818
80$7,754,684$817,056$125,418$5,078,628
81$8,458,793$770,224$42,751$5,491,633
82$9,231,986$718,360$0$5,945,673
83$10,081,221$661,133$0$6,456,145
84$11,014,168$598,190$0$7,028,489
85$12,039,271$529,160$0$7,657,428
86$13,165,838$453,650$0$8,348,726
87$14,404,119$371,244$0$9,108,733
88$15,765,408$281,504$0$9,944,452
89$17,262,149$183,968$0$10,863,601
90$18,908,051$78,145$0$11,874,688
91$20,718,218$0$0$12,987,091
92$22,709,290$0$0$14,219,177
93$24,899,603$0$0$15,593,569
94$27,309,357$0$0$17,105,756
95$29,960,812$0$0$18,769,718
96$32,878,490$0$0$20,600,858
97$36,089,415$0$0$22,616,148
98$39,623,359$0$0$24,834,288
99$43,513,130$0$0$27,275,885
100$47,794,875$0$0$29,963,642