Can I retire at age 54 with 974,000?

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 $974,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$80,432$79,716$79,017$78,334$77,668$75,272
2 years$39,818$39,076$38,358$37,661$36,985$34,592
3 years$26,282$25,537$24,820$24,130$23,465$21,150
4 years$19,515$18,772$18,063$17,384$16,735$14,516
5 years$15,456$14,718$14,017$13,353$12,722$10,605
6 years$12,751$12,018$11,328$10,678$10,066$8,053
7 years$10,819$10,093$9,414$8,779$8,187$6,277
8 years$9,371$8,651$7,984$7,365$6,792$4,984
9 years$8,246$7,533$6,876$6,273$5,720$4,012
10 years$7,346$6,640$5,995$5,407$4,873$3,264
11 years$6,610$5,911$5,278$4,706$4,191$2,677
12 years$5,997$5,305$4,684$4,128$3,632$2,209
13 years$5,479$4,794$4,185$3,644$3,167$1,833
14 years$5,035$4,358$3,760$3,235$2,776$1,527
15 years$4,651$3,981$3,395$2,885$2,445$1,276
16 years$4,315$3,653$3,078$2,583$2,160$1,070
17 years$4,019$3,364$2,801$2,321$1,916$899
18 years$3,756$3,108$2,557$2,092$1,703$757
19 years$3,521$2,881$2,341$1,890$1,518$638
20 years$3,310$2,677$2,148$1,712$1,356$539
21 years$3,120$2,494$1,976$1,554$1,214$455
22 years$2,946$2,328$1,821$1,413$1,088$385
23 years$2,788$2,177$1,681$1,286$976$326
24 years$2,644$2,040$1,555$1,173$878$276
25 years$2,511$1,914$1,440$1,072$790$234
26 years$2,389$1,799$1,336$980$711$199
27 years$2,276$1,693$1,240$897$641$169
28 years$2,171$1,595$1,153$822$579$143
29 years$2,073$1,505$1,073$753$523$121
30 years$1,983$1,421$999$691$472$103
31 years$1,898$1,344$932$635$427$88
32 years$1,819$1,271$869$584$386$74
33 years$1,744$1,204$812$537$349$63
34 years$1,674$1,141$758$494$316$54
35 years$1,609$1,082$709$455$287$46
36 years$1,547$1,027$663$419$260$39
37 years$1,489$976$621$386$235$33
38 years$1,433$927$581$356$213$28
39 years$1,381$882$545$328$193$24
40 years$1,332$839$511$302$175$20
41 years$1,285$799$479$279$159$17
42 years$1,240$761$449$257$144$15
43 years$1,198$725$421$238$131$12
44 years$1,157$691$396$219$119$11
45 years$1,119$659$371$203$108$9
46 years$1,082$628$349$187$98$8
47 years$1,047$600$328$173$89$7
48 years$1,014$572$308$160$81$6
49 years$982$547$289$148$73$5
50 years$951$522$272$137$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $974,000, adding $6,027 every year, while hoping to spend $40,287 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: 60/30/10 Blend
53$974,000$974,000$974,000$974,000
54$1,079,565$1,027,943$1,012,846$1,141,487
55$1,146,815$1,035,447$1,003,911$1,191,281
56$1,219,575$1,041,969$993,327$1,240,455
57$1,298,364$1,047,417$980,995$1,293,101
58$1,383,752$1,051,696$966,814$1,349,554
59$1,476,368$1,054,702$950,675$1,410,188
60$1,576,903$1,056,327$932,468$1,475,412
61$1,686,115$1,056,455$912,073$1,545,680
62$1,804,840$1,054,963$889,370$1,621,494
63$1,933,998$1,051,720$864,227$1,703,407
64$2,074,599$1,046,588$836,513$1,792,031
65$2,227,757$1,039,420$806,084$1,888,039
66$2,394,695$1,030,058$772,795$1,992,178
67$2,576,762$1,018,339$736,492$2,105,271
68$2,775,441$1,004,087$697,013$2,228,228
69$2,992,364$987,115$654,192$2,362,051
70$3,229,329$967,228$607,851$2,507,849
71$3,488,314$944,216$557,808$2,666,847
72$3,771,498$917,858$503,870$2,840,395
73$4,081,279$887,922$445,838$3,029,985
74$4,420,298$854,158$383,502$3,237,264
75$4,791,463$816,307$316,644$3,464,049
76$5,197,976$774,090$245,036$3,712,348
77$5,643,364$727,214$168,438$3,984,375
78$6,131,510$675,370$86,604$4,282,576
79$6,666,691$618,230$0$4,609,649
80$7,253,618$555,448$0$4,968,649
81$7,897,480$486,658$0$5,372,651
82$8,603,991$411,473$0$5,816,063
83$9,379,448$329,485$0$6,302,918
84$10,230,783$240,261$0$6,837,664
85$11,165,635$143,346$0$7,425,209
86$12,192,418$38,258$0$8,070,965
87$13,320,402$0$0$8,780,900
88$14,559,798$0$0$9,586,524
89$15,921,854$0$0$10,485,843
90$17,418,964$0$0$11,474,419
91$19,064,781$0$0$12,561,279
92$20,874,348$0$0$13,756,367
93$22,864,237$0$0$15,070,641
94$25,052,707$0$0$16,516,170
95$27,459,875$0$0$18,106,256
96$30,107,905$0$0$19,855,552
97$33,021,219$0$0$21,780,204
98$36,226,724$0$0$23,898,001
99$39,754,066$0$0$26,228,543
100$43,635,912$0$0$28,793,429