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%12.2%
1 years$80,184$79,470$78,773$78,093$77,429$76,716
2 years$39,695$38,956$38,239$37,545$36,871$36,153
3 years$26,201$25,458$24,743$24,055$23,392$22,691
4 years$19,455$18,714$18,007$17,330$16,684$16,005
5 years$15,408$14,672$13,974$13,311$12,683$12,028
6 years$12,711$11,981$11,293$10,645$10,035$9,406
7 years$10,786$10,062$9,385$8,752$8,161$7,557
8 years$9,342$8,625$7,959$7,342$6,771$6,192
9 years$8,220$7,509$6,855$6,254$5,702$5,148
10 years$7,323$6,619$5,976$5,391$4,858$4,330
11 years$6,589$5,893$5,261$4,692$4,178$3,674
12 years$5,979$5,289$4,669$4,115$3,621$3,140
13 years$5,462$4,780$4,172$3,633$3,157$2,700
14 years$5,020$4,345$3,748$3,225$2,768$2,334
15 years$4,637$3,969$3,384$2,876$2,437$2,025
16 years$4,302$3,641$3,068$2,575$2,154$1,763
17 years$4,007$3,354$2,792$2,314$1,910$1,540
18 years$3,745$3,099$2,549$2,085$1,698$1,348
19 years$3,511$2,872$2,333$1,884$1,513$1,183
20 years$3,300$2,669$2,141$1,707$1,352$1,040
21 years$3,110$2,486$1,970$1,549$1,210$916
22 years$2,937$2,320$1,815$1,408$1,084$808
23 years$2,780$2,170$1,676$1,282$973$713
24 years$2,636$2,033$1,550$1,170$875$631
25 years$2,503$1,908$1,436$1,068$787$558
26 years$2,381$1,793$1,332$977$709$494
27 years$2,269$1,688$1,237$894$639$438
28 years$2,164$1,590$1,150$819$577$388
29 years$2,067$1,500$1,070$751$521$344
30 years$1,977$1,417$996$689$471$306
31 years$1,892$1,339$929$633$426$272
32 years$1,813$1,267$867$582$385$241
33 years$1,739$1,200$809$535$348$214
34 years$1,669$1,138$756$492$315$191
35 years$1,604$1,079$707$453$286$170
36 years$1,542$1,024$661$417$259$151
37 years$1,484$973$619$385$235$134
38 years$1,429$924$580$354$213$119
39 years$1,377$879$543$327$193$106
40 years$1,328$836$509$301$175$95
41 years$1,281$796$477$278$159$84
42 years$1,236$758$448$257$144$75
43 years$1,194$722$420$237$131$67
44 years$1,154$689$394$219$119$59
45 years$1,115$657$370$202$108$53
46 years$1,079$626$348$187$98$47
47 years$1,044$598$327$172$89$42
48 years$1,010$571$307$159$81$37
49 years$979$545$289$147$73$33
50 years$948$521$271$136$67$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $971,000, adding $3,417 every year, while hoping to spend $30,274 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: 27/49/24 Blend
53$971,000$971,000$971,000$971,000
54$1,073,567$1,022,104$1,007,053$1,094,380
55$1,150,859$1,039,975$1,008,578$1,129,072
56$1,235,021$1,057,708$1,009,140$1,163,428
57$1,326,720$1,075,263$1,008,673$1,199,682
58$1,426,694$1,092,599$1,007,112$1,238,016
59$1,535,751$1,109,671$1,004,384$1,278,630
60$1,654,783$1,126,430$1,000,416$1,321,745
61$1,784,771$1,142,826$995,131$1,367,609
62$1,926,797$1,158,803$988,447$1,416,495
63$2,082,048$1,174,302$980,277$1,468,704
64$2,251,834$1,189,260$970,534$1,524,571
65$2,437,597$1,203,610$959,123$1,584,469
66$2,640,925$1,217,280$945,946$1,648,807
67$2,863,564$1,230,192$930,901$1,718,041
68$3,107,441$1,242,264$913,879$1,792,676
69$3,374,675$1,253,410$894,769$1,873,268
70$3,667,600$1,263,536$873,452$1,960,435
71$3,988,788$1,272,541$849,805$2,054,861
72$4,341,070$1,280,322$823,700$2,157,303
73$4,727,566$1,286,765$795,001$2,268,597
74$5,151,712$1,291,750$763,567$2,389,668
75$5,617,291$1,295,150$729,251$2,521,542
76$6,128,473$1,296,831$691,899$2,665,350
77$6,689,849$1,296,647$651,350$2,822,346
78$7,306,478$1,294,448$607,434$2,993,914
79$7,983,933$1,290,069$559,977$3,181,585
80$8,728,352$1,283,340$508,794$3,387,053
81$9,546,498$1,274,079$453,693$3,612,187
82$10,445,823$1,262,091$394,474$3,859,057
83$11,434,535$1,247,171$330,927$4,129,947
84$12,521,677$1,229,102$262,833$4,427,382
85$13,717,214$1,207,654$189,963$4,754,152
86$15,032,123$1,182,582$112,080$5,113,338
87$16,478,499$1,153,628$28,934$5,508,344
88$18,069,667$1,120,517$0$5,942,931
89$19,820,312$1,082,961$0$6,436,564
90$21,746,609$1,040,652$0$6,987,418
91$23,866,385$993,265$0$7,593,213
92$26,199,278$940,458$0$8,259,614
93$28,766,931$881,866$0$8,992,875
94$31,593,186$817,106$0$9,799,890
95$34,704,319$745,772$0$10,688,269
96$38,129,279$667,434$0$11,666,404
97$41,899,966$581,639$0$12,743,553
98$46,051,530$487,907$0$13,929,927
99$50,622,704$385,732$0$15,236,789
100$55,656,166$274,579$0$16,676,563