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%12.8%
1 years$80,102$79,388$78,692$78,013$77,349$76,446
2 years$39,654$38,916$38,200$37,506$36,833$35,924
3 years$26,174$25,432$24,718$24,030$23,368$22,482
4 years$19,435$18,695$17,988$17,313$16,666$15,809
5 years$15,392$14,657$13,960$13,298$12,670$11,844
6 years$12,698$11,969$11,282$10,634$10,025$9,232
7 years$10,775$10,051$9,375$8,743$8,153$7,393
8 years$9,333$8,616$7,951$7,334$6,764$6,036
9 years$8,212$7,502$6,848$6,247$5,696$5,001
10 years$7,315$6,612$5,970$5,385$4,853$4,191
11 years$6,583$5,887$5,256$4,687$4,174$3,543
12 years$5,972$5,283$4,665$4,111$3,617$3,017
13 years$5,456$4,775$4,168$3,629$3,154$2,584
14 years$5,015$4,340$3,745$3,222$2,765$2,224
15 years$4,632$3,965$3,381$2,873$2,434$1,922
16 years$4,297$3,638$3,065$2,573$2,152$1,667
17 years$4,003$3,350$2,789$2,311$1,908$1,450
18 years$3,741$3,096$2,546$2,083$1,696$1,264
19 years$3,507$2,869$2,331$1,882$1,512$1,104
20 years$3,297$2,666$2,139$1,705$1,350$967
21 years$3,107$2,483$1,968$1,547$1,209$848
22 years$2,934$2,318$1,814$1,407$1,083$744
23 years$2,777$2,168$1,674$1,281$972$654
24 years$2,633$2,031$1,549$1,168$874$575
25 years$2,501$1,906$1,434$1,067$786$507
26 years$2,379$1,792$1,330$976$708$447
27 years$2,266$1,686$1,235$893$639$394
28 years$2,162$1,589$1,148$818$576$348
29 years$2,065$1,499$1,069$750$520$307
30 years$1,975$1,415$995$689$470$271
31 years$1,890$1,338$928$632$425$240
32 years$1,811$1,266$866$581$385$212
33 years$1,737$1,199$808$535$348$187
34 years$1,668$1,136$755$492$315$166
35 years$1,602$1,078$706$453$285$147
36 years$1,541$1,023$661$417$259$130
37 years$1,482$972$618$384$234$115
38 years$1,427$923$579$354$212$102
39 years$1,375$878$542$326$193$90
40 years$1,326$835$508$301$175$80
41 years$1,279$795$477$278$159$71
42 years$1,235$757$447$256$144$63
43 years$1,193$722$420$237$131$55
44 years$1,152$688$394$219$119$49
45 years$1,114$656$370$202$108$44
46 years$1,078$626$347$186$98$39
47 years$1,043$597$326$172$89$34
48 years$1,009$570$307$159$81$30
49 years$978$544$288$147$73$27
50 years$947$520$271$136$66$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $970,000, adding $5,569 every year, while hoping to spend $30,386 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: 60/28/12 Blend
53$970,000$970,000$970,000$970,000
54$1,074,684$1,023,274$1,008,239$1,135,726
55$1,151,972$1,041,084$1,009,685$1,195,244
56$1,236,124$1,058,749$1,010,161$1,256,214
57$1,327,809$1,076,228$1,009,602$1,321,983
58$1,427,763$1,093,480$1,007,940$1,393,020
59$1,536,794$1,110,460$1,005,106$1,469,835
60$1,655,793$1,127,119$1,001,023$1,552,995
61$1,785,742$1,143,405$995,615$1,643,124
62$1,927,718$1,159,262$988,798$1,740,907
63$2,082,910$1,174,631$980,488$1,847,104
64$2,252,627$1,189,448$970,594$1,962,549
65$2,438,308$1,203,645$959,023$2,088,162
66$2,641,541$1,217,148$945,675$2,224,960
67$2,864,070$1,229,881$930,448$2,374,061
68$3,107,820$1,241,760$913,232$2,536,699
69$3,374,909$1,252,697$893,916$2,714,235
70$3,667,668$1,262,598$872,381$2,908,169
71$3,988,667$1,271,362$848,503$3,120,154
72$4,340,735$1,278,883$822,152$3,352,015
73$4,726,989$1,285,047$793,193$3,605,761
74$5,150,861$1,289,733$761,484$3,883,610
75$5,616,132$1,292,813$726,876$4,188,004
76$6,126,967$1,294,150$689,216$4,521,640
77$6,687,953$1,293,600$648,341$4,887,487
78$7,304,146$1,291,008$604,082$5,288,822
79$7,981,112$1,286,210$556,261$5,729,256
80$8,724,984$1,279,033$504,695$6,212,771
81$9,542,520$1,269,293$449,190$6,743,756
82$10,441,164$1,256,796$389,545$7,327,051
83$11,429,117$1,241,333$325,548$7,967,993
84$12,515,413$1,222,685$256,981$8,672,463
85$13,710,009$1,200,620$183,614$9,446,947
86$15,023,871$1,174,892$105,206$10,298,596
87$16,469,084$1,145,239$21,508$11,235,291
88$18,058,961$1,111,386$0$12,265,722
89$19,808,171$1,073,040$0$13,408,152
90$21,732,877$1,029,892$0$14,667,963
91$23,850,888$981,614$0$16,054,076
92$26,181,826$927,860$0$17,579,363
93$28,747,311$868,264$0$19,258,012
94$31,571,166$802,438$0$21,105,662
95$34,679,640$729,973$0$23,139,547
96$38,101,658$650,436$0$25,378,664
97$41,869,089$563,370$0$27,843,953
98$46,017,052$468,291$0$30,558,490
99$50,584,242$364,688$0$33,547,712
100$55,613,300$252,023$0$36,839,653