Can I retire at age 54 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$80,184$79,470$78,773$78,093$77,429$76,335
2 years$39,695$38,956$38,239$37,545$36,871$35,771
3 years$26,201$25,458$24,743$24,055$23,392$22,320
4 years$19,455$18,714$18,007$17,330$16,684$15,648
5 years$15,408$14,672$13,974$13,311$12,683$11,686
6 years$12,711$11,981$11,293$10,645$10,035$9,080
7 years$10,786$10,062$9,385$8,752$8,161$7,247
8 years$9,342$8,625$7,959$7,342$6,771$5,897
9 years$8,220$7,509$6,855$6,254$5,702$4,868
10 years$7,323$6,619$5,976$5,391$4,858$4,064
11 years$6,589$5,893$5,261$4,692$4,178$3,423
12 years$5,979$5,289$4,669$4,115$3,621$2,904
13 years$5,462$4,780$4,172$3,633$3,157$2,478
14 years$5,020$4,345$3,748$3,225$2,768$2,124
15 years$4,637$3,969$3,384$2,876$2,437$1,828
16 years$4,302$3,641$3,068$2,575$2,154$1,579
17 years$4,007$3,354$2,792$2,314$1,910$1,367
18 years$3,745$3,099$2,549$2,085$1,698$1,187
19 years$3,511$2,872$2,333$1,884$1,513$1,033
20 years$3,300$2,669$2,141$1,707$1,352$900
21 years$3,110$2,486$1,970$1,549$1,210$785
22 years$2,937$2,320$1,815$1,408$1,084$686
23 years$2,780$2,170$1,676$1,282$973$600
24 years$2,636$2,033$1,550$1,170$875$526
25 years$2,503$1,908$1,436$1,068$787$461
26 years$2,381$1,793$1,332$977$709$404
27 years$2,269$1,688$1,237$894$639$355
28 years$2,164$1,590$1,150$819$577$312
29 years$2,067$1,500$1,070$751$521$274
30 years$1,977$1,417$996$689$471$241
31 years$1,892$1,339$929$633$426$212
32 years$1,813$1,267$867$582$385$186
33 years$1,739$1,200$809$535$348$164
34 years$1,669$1,138$756$492$315$144
35 years$1,604$1,079$707$453$286$127
36 years$1,542$1,024$661$417$259$112
37 years$1,484$973$619$385$235$98
38 years$1,429$924$580$354$213$87
39 years$1,377$879$543$327$193$76
40 years$1,328$836$509$301$175$67
41 years$1,281$796$477$278$159$59
42 years$1,236$758$448$257$144$52
43 years$1,194$722$420$237$131$46
44 years$1,154$689$394$219$119$41
45 years$1,115$657$370$202$108$36
46 years$1,079$626$348$187$98$32
47 years$1,044$598$327$172$89$28
48 years$1,010$571$307$159$81$25
49 years$979$545$289$147$73$22
50 years$948$521$271$136$67$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $971,000, adding $5,759 every year, while hoping to spend $44,372 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: 59/12/29 Blend
53$971,000$971,000$971,000$971,000
54$1,075,982$1,024,519$1,009,469$1,130,652
55$1,138,521$1,027,509$996,075$1,171,703
56$1,205,952$1,029,159$980,745$1,211,270
57$1,278,726$1,029,355$963,367$1,253,519
58$1,357,341$1,027,978$943,825$1,298,723
59$1,442,343$1,024,902$921,996$1,347,183
60$1,534,331$1,019,992$897,752$1,399,235
61$1,633,966$1,013,104$870,959$1,455,250
62$1,741,971$1,004,087$841,478$1,515,638
63$1,859,146$992,781$809,161$1,580,853
64$1,986,367$979,015$773,855$1,651,400
65$2,124,598$962,608$735,401$1,727,833
66$2,274,900$943,370$693,631$1,810,770
67$2,438,442$921,097$648,369$1,900,891
68$2,616,508$895,575$599,434$1,998,949
69$2,810,510$866,577$546,634$2,105,779
70$3,022,005$833,862$489,769$2,222,301
71$3,252,704$797,176$428,631$2,349,535
72$3,504,492$756,250$363,002$2,488,605
73$3,779,443$710,798$292,655$2,640,758
74$4,079,839$660,521$217,352$2,807,369
75$4,408,195$605,099$136,846$2,989,957
76$4,767,279$544,196$50,878$3,190,203
77$5,160,136$477,457$0$3,409,962
78$5,590,123$404,505$0$3,663,929
79$6,060,933$324,943$0$3,959,345
80$6,576,635$238,353$0$4,283,044
81$7,141,710$144,290$0$4,637,880
82$7,761,091$42,287$0$5,027,004
83$8,440,214$0$0$5,453,884
84$9,185,063$0$0$5,931,347
85$10,002,231$0$0$6,461,374
86$10,898,980$0$0$7,043,103
87$11,883,307$0$0$7,681,732
88$12,964,023$0$0$8,382,989
89$14,150,834$0$0$9,153,182
90$15,454,431$0$0$9,999,261
91$16,886,591$0$0$10,928,883
92$18,460,290$0$0$11,950,481
93$20,189,821$0$0$13,073,349
94$22,090,931$0$0$14,307,722
95$24,180,970$0$0$15,664,880
96$26,479,051$0$0$17,157,247
97$29,006,232$0$0$18,798,514
98$31,785,714$0$0$20,603,764
99$34,843,061$0$0$22,589,616
100$38,206,435$0$0$24,774,378