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%16.3%
1 years$80,184$79,470$78,773$78,093$77,429$75,435
2 years$39,695$38,956$38,239$37,545$36,871$34,875
3 years$26,201$25,458$24,743$24,055$23,392$21,457
4 years$19,455$18,714$18,007$17,330$16,684$14,824
5 years$15,408$14,672$13,974$13,311$12,683$10,904
6 years$12,711$11,981$11,293$10,645$10,035$8,339
7 years$10,786$10,062$9,385$8,752$8,161$6,548
8 years$9,342$8,625$7,959$7,342$6,771$5,239
9 years$8,220$7,509$6,855$6,254$5,702$4,251
10 years$7,323$6,619$5,976$5,391$4,858$3,486
11 years$6,589$5,893$5,261$4,692$4,178$2,883
12 years$5,979$5,289$4,669$4,115$3,621$2,400
13 years$5,462$4,780$4,172$3,633$3,157$2,009
14 years$5,020$4,345$3,748$3,225$2,768$1,689
15 years$4,637$3,969$3,384$2,876$2,437$1,425
16 years$4,302$3,641$3,068$2,575$2,154$1,205
17 years$4,007$3,354$2,792$2,314$1,910$1,022
18 years$3,745$3,099$2,549$2,085$1,698$869
19 years$3,511$2,872$2,333$1,884$1,513$740
20 years$3,300$2,669$2,141$1,707$1,352$631
21 years$3,110$2,486$1,970$1,549$1,210$539
22 years$2,937$2,320$1,815$1,408$1,084$460
23 years$2,780$2,170$1,676$1,282$973$394
24 years$2,636$2,033$1,550$1,170$875$337
25 years$2,503$1,908$1,436$1,068$787$289
26 years$2,381$1,793$1,332$977$709$247
27 years$2,269$1,688$1,237$894$639$212
28 years$2,164$1,590$1,150$819$577$182
29 years$2,067$1,500$1,070$751$521$156
30 years$1,977$1,417$996$689$471$134
31 years$1,892$1,339$929$633$426$115
32 years$1,813$1,267$867$582$385$99
33 years$1,739$1,200$809$535$348$85
34 years$1,669$1,138$756$492$315$73
35 years$1,604$1,079$707$453$286$63
36 years$1,542$1,024$661$417$259$54
37 years$1,484$973$619$385$235$46
38 years$1,429$924$580$354$213$40
39 years$1,377$879$543$327$193$34
40 years$1,328$836$509$301$175$29
41 years$1,281$796$477$278$159$25
42 years$1,236$758$448$257$144$22
43 years$1,194$722$420$237$131$19
44 years$1,154$689$394$219$119$16
45 years$1,115$657$370$202$108$14
46 years$1,079$626$348$187$98$12
47 years$1,044$598$327$172$89$10
48 years$1,010$571$307$159$81$9
49 years$979$545$289$147$73$8
50 years$948$521$271$136$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $971,000, adding $2,875 every year, while hoping to spend $57,357 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: 38/36/26 Blend
53$971,000$971,000$971,000$971,000
54$1,073,008$1,021,545$1,006,494$1,105,371
55$1,121,427$1,010,573$979,184$1,118,332
56$1,172,863$997,141$949,037$1,126,823
57$1,227,562$981,068$915,897$1,134,883
58$1,285,795$962,163$879,602$1,142,509
59$1,347,859$940,221$839,980$1,149,704
60$1,414,076$915,027$796,856$1,156,473
61$1,484,803$886,355$750,041$1,162,829
62$1,560,428$853,962$699,343$1,168,792
63$1,641,379$817,593$644,558$1,174,391
64$1,728,123$776,978$585,474$1,179,662
65$1,821,173$731,832$521,870$1,184,654
66$1,921,094$681,853$453,513$1,189,424
67$2,028,502$626,720$380,162$1,194,049
68$2,144,077$566,097$301,565$1,198,615
69$2,268,563$499,626$217,458$1,203,230
70$2,402,780$426,931$127,566$1,208,020
71$2,547,625$347,613$31,602$1,213,134
72$2,704,087$261,250$0$1,218,747
73$2,873,252$167,399$0$1,244,705
74$3,056,311$65,589$0$1,282,232
75$3,254,578$0$0$1,322,912
76$3,469,493$0$0$1,384,849
77$3,702,642$0$0$1,480,340
78$3,955,769$0$0$1,584,129
79$4,230,792$0$0$1,697,017
80$4,529,820$0$0$1,819,886
81$4,855,176$0$0$1,953,706
82$5,209,412$0$0$2,099,543
83$5,595,339$0$0$2,258,572
84$6,016,049$0$0$2,432,086
85$6,474,946$0$0$2,621,507
86$6,975,776$0$0$2,828,402
87$7,522,664$0$0$3,054,494
88$8,120,147$0$0$3,301,682
89$8,773,225$0$0$3,572,055
90$9,487,398$0$0$3,867,915
91$10,268,725$0$0$4,191,795
92$11,123,876$0$0$4,546,486
93$12,060,196$0$0$4,935,059
94$13,085,774$0$0$5,360,899
95$14,209,517$0$0$5,827,732
96$15,441,236$0$0$6,339,664
97$16,791,733$0$0$6,901,213
98$18,272,910$0$0$7,517,360
99$19,897,871$0$0$8,193,589
100$21,681,054$0$0$8,935,941