Can I retire at age 54 with 971,000?

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 $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%11.8%
1 years$80,184$79,470$78,773$78,093$77,429$76,844
2 years$39,695$38,956$38,239$37,545$36,871$36,282
3 years$26,201$25,458$24,743$24,055$23,392$22,817
4 years$19,455$18,714$18,007$17,330$16,684$16,126
5 years$15,408$14,672$13,974$13,311$12,683$12,144
6 years$12,711$11,981$11,293$10,645$10,035$9,517
7 years$10,786$10,062$9,385$8,752$8,161$7,664
8 years$9,342$8,625$7,959$7,342$6,771$6,293
9 years$8,220$7,509$6,855$6,254$5,702$5,245
10 years$7,323$6,619$5,976$5,391$4,858$4,421
11 years$6,589$5,893$5,261$4,692$4,178$3,761
12 years$5,979$5,289$4,669$4,115$3,621$3,223
13 years$5,462$4,780$4,172$3,633$3,157$2,779
14 years$5,020$4,345$3,748$3,225$2,768$2,408
15 years$4,637$3,969$3,384$2,876$2,437$2,095
16 years$4,302$3,641$3,068$2,575$2,154$1,829
17 years$4,007$3,354$2,792$2,314$1,910$1,602
18 years$3,745$3,099$2,549$2,085$1,698$1,407
19 years$3,511$2,872$2,333$1,884$1,513$1,238
20 years$3,300$2,669$2,141$1,707$1,352$1,091
21 years$3,110$2,486$1,970$1,549$1,210$964
22 years$2,937$2,320$1,815$1,408$1,084$853
23 years$2,780$2,170$1,676$1,282$973$755
24 years$2,636$2,033$1,550$1,170$875$670
25 years$2,503$1,908$1,436$1,068$787$594
26 years$2,381$1,793$1,332$977$709$528
27 years$2,269$1,688$1,237$894$639$469
28 years$2,164$1,590$1,150$819$577$418
29 years$2,067$1,500$1,070$751$521$372
30 years$1,977$1,417$996$689$471$331
31 years$1,892$1,339$929$633$426$295
32 years$1,813$1,267$867$582$385$263
33 years$1,739$1,200$809$535$348$234
34 years$1,669$1,138$756$492$315$209
35 years$1,604$1,079$707$453$286$187
36 years$1,542$1,024$661$417$259$167
37 years$1,484$973$619$385$235$149
38 years$1,429$924$580$354$213$133
39 years$1,377$879$543$327$193$119
40 years$1,328$836$509$301$175$106
41 years$1,281$796$477$278$159$95
42 years$1,236$758$448$257$144$85
43 years$1,194$722$420$237$131$76
44 years$1,154$689$394$219$119$67
45 years$1,115$657$370$202$108$60
46 years$1,079$626$348$187$98$54
47 years$1,044$598$327$172$89$48
48 years$1,010$571$307$159$81$43
49 years$979$545$289$147$73$39
50 years$948$521$271$136$67$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $971,000, adding $6,281 every year, while hoping to spend $59,997 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: 74/14/12 Blend
53$971,000$971,000$971,000$971,000
54$1,076,521$1,025,058$1,010,007$1,153,123
55$1,122,490$1,011,449$980,006$1,190,963
56$1,171,136$995,163$946,989$1,224,320
57$1,222,671$976,005$910,792$1,259,222
58$1,277,322$953,768$871,243$1,295,803
59$1,335,342$928,235$828,161$1,334,215
60$1,397,002$899,174$781,361$1,374,622
61$1,462,604$866,341$730,644$1,417,210
62$1,532,475$829,478$675,806$1,462,183
63$1,606,975$788,309$616,632$1,509,767
64$1,686,496$742,546$552,900$1,560,213
65$1,771,470$691,883$484,373$1,613,798
66$1,862,370$635,995$410,810$1,670,830
67$1,959,713$574,540$331,953$1,731,651
68$2,064,067$507,156$247,537$1,796,637
69$2,176,057$433,461$157,284$1,866,206
70$2,296,365$353,051$60,903$1,940,820
71$2,425,742$265,498$0$2,020,993
72$2,565,013$170,353$0$2,112,662
73$2,715,083$67,139$0$2,219,755
74$2,876,946$0$0$2,335,201
75$3,051,694$0$0$2,466,693
76$3,240,527$0$0$2,619,992
77$3,444,764$0$0$2,785,832
78$3,665,856$0$0$2,965,394
79$3,905,394$0$0$3,159,976
80$4,165,133$0$0$3,371,006
81$4,446,999$0$0$3,600,057
82$4,753,112$0$0$3,848,854
83$5,085,802$0$0$4,119,299
84$5,447,635$0$0$4,413,483
85$5,841,432$0$0$4,733,704
86$6,270,297$0$0$5,082,494
87$6,737,647$0$0$5,462,639
88$7,247,242$0$0$5,877,202
89$7,803,221$0$0$6,329,559
90$8,410,136$0$0$6,823,421
91$9,073,003$0$0$7,362,878
92$9,797,342$0$0$7,952,428
93$10,589,228$0$0$8,597,026
94$11,455,351$0$0$9,302,127
95$12,403,079$0$0$10,073,736
96$13,440,523$0$0$10,918,468
97$14,576,614$0$0$11,843,604
98$15,821,190$0$0$12,857,166
99$17,185,081$0$0$13,967,984
100$18,680,218$0$0$15,185,786