Can I retire at age 54 with 973,000?

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 $973,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$80,349$79,634$78,935$78,254$77,588$75,437
2 years$39,777$39,036$38,318$37,622$36,947$34,796
3 years$26,255$25,511$24,794$24,105$23,441$21,357
4 years$19,495$18,753$18,044$17,366$16,718$14,718
5 years$15,440$14,703$14,003$13,339$12,709$10,797
6 years$12,737$12,006$11,316$10,667$10,056$8,235
7 years$10,808$10,082$9,404$8,770$8,178$6,448
8 years$9,361$8,642$7,975$7,357$6,785$5,144
9 years$8,237$7,525$6,869$6,267$5,714$4,161
10 years$7,338$6,633$5,989$5,402$4,868$3,402
11 years$6,603$5,905$5,272$4,701$4,187$2,804
12 years$5,991$5,300$4,679$4,124$3,628$2,327
13 years$5,473$4,789$4,180$3,641$3,164$1,941
14 years$5,030$4,353$3,756$3,232$2,773$1,626
15 years$4,646$3,977$3,391$2,882$2,442$1,367
16 years$4,311$3,649$3,075$2,581$2,158$1,152
17 years$4,015$3,360$2,798$2,319$1,914$974
18 years$3,752$3,105$2,554$2,090$1,702$825
19 years$3,518$2,878$2,338$1,888$1,517$700
20 years$3,307$2,674$2,146$1,710$1,355$594
21 years$3,116$2,491$1,974$1,552$1,212$505
22 years$2,943$2,325$1,819$1,411$1,087$430
23 years$2,786$2,175$1,680$1,285$975$367
24 years$2,641$2,038$1,553$1,172$877$312
25 years$2,509$1,912$1,439$1,070$789$267
26 years$2,386$1,797$1,334$979$711$228
27 years$2,273$1,691$1,239$896$641$194
28 years$2,169$1,594$1,152$821$578$166
29 years$2,071$1,503$1,072$753$522$142
30 years$1,981$1,420$998$691$472$121
31 years$1,896$1,342$931$634$426$104
32 years$1,817$1,270$868$583$386$89
33 years$1,743$1,203$811$536$349$76
34 years$1,673$1,140$758$493$316$65
35 years$1,607$1,081$708$454$286$56
36 years$1,545$1,026$663$418$259$47
37 years$1,487$975$620$385$235$41
38 years$1,432$926$581$355$213$35
39 years$1,380$881$544$328$193$30
40 years$1,330$838$510$302$175$25
41 years$1,283$798$478$279$159$22
42 years$1,239$760$449$257$144$19
43 years$1,196$724$421$237$131$16
44 years$1,156$690$395$219$119$14
45 years$1,118$658$371$202$108$12
46 years$1,081$628$348$187$98$10
47 years$1,046$599$327$173$89$9
48 years$1,013$572$308$160$81$7
49 years$981$546$289$148$73$6
50 years$950$522$272$136$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $973,000, adding $6,561 every year, while hoping to spend $52,619 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: 41/46/13 Blend
53$973,000$973,000$973,000$973,000
54$1,079,014$1,027,445$1,012,363$1,118,854
55$1,133,087$1,021,803$990,291$1,141,910
56$1,190,912$1,014,122$965,716$1,161,149
57$1,252,816$1,004,245$938,499$1,180,821
58$1,319,158$992,008$908,493$1,200,988
59$1,390,331$977,235$875,547$1,221,724
60$1,466,768$959,742$839,500$1,243,113
61$1,548,941$939,333$800,187$1,265,251
62$1,637,372$915,799$757,432$1,288,252
63$1,732,632$888,921$711,054$1,312,242
64$1,835,348$858,466$660,862$1,337,367
65$1,946,210$824,187$606,657$1,363,793
66$2,065,975$785,824$548,231$1,391,709
67$2,195,475$743,100$485,368$1,421,328
68$2,335,626$695,724$417,840$1,452,894
69$2,487,433$643,387$345,411$1,486,678
70$2,652,001$585,764$267,832$1,522,992
71$2,830,547$522,508$184,847$1,562,183
72$3,024,409$453,257$96,185$1,604,644
73$3,235,056$377,624$1,564$1,650,815
74$3,464,107$295,203$0$1,701,193
75$3,713,343$205,564$0$1,770,122
76$3,984,721$108,254$0$1,845,565
77$4,280,397$2,793$0$1,928,046
78$4,602,743$0$0$2,018,393
79$4,954,369$0$0$2,173,878
80$5,338,149$0$0$2,345,242
81$5,757,244$0$0$2,532,499
82$6,215,138$0$0$2,737,219
83$6,715,663$0$0$2,961,133
84$7,263,038$0$0$3,206,144
85$7,861,910$0$0$3,474,350
86$8,517,396$0$0$3,768,061
87$9,235,129$0$0$4,089,818
88$10,021,313$0$0$4,442,424
89$10,882,780$0$0$4,828,961
90$11,827,054$0$0$5,252,828
91$12,862,422$0$0$5,717,766
92$13,998,012$0$0$6,227,895
93$15,243,876$0$0$6,787,756
94$16,611,088$0$0$7,402,348
95$18,111,843$0$0$8,077,179
96$19,759,578$0$0$8,818,316
97$21,569,092$0$0$9,632,443
98$23,556,689$0$0$10,526,922
99$25,740,328$0$0$11,509,865
100$28,139,796$0$0$12,590,209