Can I retire at age 54 with 970,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%13.6%
1 years$80,102$79,388$78,692$78,013$77,349$76,193
2 years$39,654$38,916$38,200$37,506$36,833$35,671
3 years$26,174$25,432$24,718$24,030$23,368$22,236
4 years$19,435$18,695$17,988$17,313$16,666$15,573
5 years$15,392$14,657$13,960$13,298$12,670$11,619
6 years$12,698$11,969$11,282$10,634$10,025$9,017
7 years$10,775$10,051$9,375$8,743$8,153$7,189
8 years$9,333$8,616$7,951$7,334$6,764$5,843
9 years$8,212$7,502$6,848$6,247$5,696$4,818
10 years$7,315$6,612$5,970$5,385$4,853$4,018
11 years$6,583$5,887$5,256$4,687$4,174$3,380
12 years$5,972$5,283$4,665$4,111$3,617$2,863
13 years$5,456$4,775$4,168$3,629$3,154$2,440
14 years$5,015$4,340$3,745$3,222$2,765$2,089
15 years$4,632$3,965$3,381$2,873$2,434$1,795
16 years$4,297$3,638$3,065$2,573$2,152$1,548
17 years$4,003$3,350$2,789$2,311$1,908$1,339
18 years$3,741$3,096$2,546$2,083$1,696$1,161
19 years$3,507$2,869$2,331$1,882$1,512$1,008
20 years$3,297$2,666$2,139$1,705$1,350$877
21 years$3,107$2,483$1,968$1,547$1,209$765
22 years$2,934$2,318$1,814$1,407$1,083$667
23 years$2,777$2,168$1,674$1,281$972$583
24 years$2,633$2,031$1,549$1,168$874$510
25 years$2,501$1,906$1,434$1,067$786$446
26 years$2,379$1,792$1,330$976$708$391
27 years$2,266$1,686$1,235$893$639$342
28 years$2,162$1,589$1,148$818$576$300
29 years$2,065$1,499$1,069$750$520$263
30 years$1,975$1,415$995$689$470$231
31 years$1,890$1,338$928$632$425$203
32 years$1,811$1,266$866$581$385$178
33 years$1,737$1,199$808$535$348$156
34 years$1,668$1,136$755$492$315$138
35 years$1,602$1,078$706$453$285$121
36 years$1,541$1,023$661$417$259$106
37 years$1,482$972$618$384$234$93
38 years$1,427$923$579$354$212$82
39 years$1,375$878$542$326$193$72
40 years$1,326$835$508$301$175$64
41 years$1,279$795$477$278$159$56
42 years$1,235$757$447$256$144$49
43 years$1,193$722$420$237$131$43
44 years$1,152$688$394$219$119$38
45 years$1,114$656$370$202$108$33
46 years$1,078$626$347$186$98$29
47 years$1,043$597$326$172$89$26
48 years$1,009$570$307$159$81$23
49 years$978$544$288$147$73$20
50 years$947$520$271$136$66$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $970,000, adding $5,817 every year, while hoping to spend $50,423 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: 59/23/18 Blend
53$970,000$970,000$970,000$970,000
54$1,074,940$1,023,530$1,008,495$1,132,997
55$1,130,934$1,020,034$988,630$1,169,486
56$1,190,950$1,014,676$966,410$1,203,212
57$1,255,344$1,007,312$941,701$1,238,841
58$1,324,508$997,789$914,368$1,276,567
59$1,398,872$985,945$884,263$1,316,603
60$1,478,909$971,608$851,237$1,359,186
61$1,565,135$954,594$815,131$1,404,580
62$1,658,121$934,711$775,780$1,453,078
63$1,758,491$911,754$733,011$1,505,004
64$1,866,934$885,507$686,644$1,560,721
65$1,984,204$855,739$636,488$1,620,628
66$2,111,131$822,208$582,349$1,685,170
67$2,248,627$784,657$524,018$1,754,840
68$2,397,696$742,814$461,282$1,830,186
69$2,559,440$696,392$393,915$1,911,812
70$2,735,074$645,086$321,682$2,000,392
71$2,925,932$588,575$244,338$2,096,670
72$3,133,481$526,520$161,627$2,201,470
73$3,359,337$458,560$73,283$2,315,708
74$3,605,277$384,317$0$2,440,394
75$3,873,256$303,390$0$2,580,683
76$4,165,427$215,354$0$2,749,066
77$4,484,157$119,764$0$2,932,883
78$4,832,055$16,146$0$3,133,717
79$5,211,990$0$0$3,353,311
80$5,627,120$0$0$3,617,890
81$6,080,925$0$0$3,911,660
82$6,577,232$0$0$4,233,025
83$7,120,258$0$0$4,584,724
84$7,714,646$0$0$4,969,774
85$8,365,506$0$0$5,391,498
86$9,078,470$0$0$5,853,554
87$9,859,736$0$0$6,359,971
88$10,716,132$0$0$6,915,187
89$11,655,177$0$0$7,524,091
90$12,685,154$0$0$8,192,064
91$13,815,185$0$0$8,925,037
92$15,055,317$0$0$9,729,541
93$16,416,619$0$0$10,612,770
94$17,911,283$0$0$11,582,649
95$19,552,737$0$0$12,647,908
96$21,355,776$0$0$13,818,164
97$23,336,698$0$0$15,104,011
98$25,513,457$0$0$16,517,121
99$27,905,832$0$0$18,070,353
100$30,535,615$0$0$19,777,871