Can I retire at age 54 with 974,000?

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 $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%13%
1 years$80,432$79,716$79,017$78,334$77,668$76,698
2 years$39,818$39,076$38,358$37,661$36,985$36,008
3 years$26,282$25,537$24,820$24,130$23,465$22,512
4 years$19,515$18,772$18,063$17,384$16,735$15,815
5 years$15,456$14,718$14,017$13,353$12,722$11,836
6 years$12,751$12,018$11,328$10,678$10,066$9,215
7 years$10,819$10,093$9,414$8,779$8,187$7,371
8 years$9,371$8,651$7,984$7,365$6,792$6,012
9 years$8,246$7,533$6,876$6,273$5,720$4,975
10 years$7,346$6,640$5,995$5,407$4,873$4,164
11 years$6,610$5,911$5,278$4,706$4,191$3,516
12 years$5,997$5,305$4,684$4,128$3,632$2,990
13 years$5,479$4,794$4,185$3,644$3,167$2,558
14 years$5,035$4,358$3,760$3,235$2,776$2,199
15 years$4,651$3,981$3,395$2,885$2,445$1,898
16 years$4,315$3,653$3,078$2,583$2,160$1,643
17 years$4,019$3,364$2,801$2,321$1,916$1,427
18 years$3,756$3,108$2,557$2,092$1,703$1,243
19 years$3,521$2,881$2,341$1,890$1,518$1,084
20 years$3,310$2,677$2,148$1,712$1,356$948
21 years$3,120$2,494$1,976$1,554$1,214$829
22 years$2,946$2,328$1,821$1,413$1,088$727
23 years$2,788$2,177$1,681$1,286$976$638
24 years$2,644$2,040$1,555$1,173$878$561
25 years$2,511$1,914$1,440$1,072$790$493
26 years$2,389$1,799$1,336$980$711$434
27 years$2,276$1,693$1,240$897$641$382
28 years$2,171$1,595$1,153$822$579$336
29 years$2,073$1,505$1,073$753$523$297
30 years$1,983$1,421$999$691$472$262
31 years$1,898$1,344$932$635$427$231
32 years$1,819$1,271$869$584$386$204
33 years$1,744$1,204$812$537$349$180
34 years$1,674$1,141$758$494$316$159
35 years$1,609$1,082$709$455$287$140
36 years$1,547$1,027$663$419$260$124
37 years$1,489$976$621$386$235$110
38 years$1,433$927$581$356$213$97
39 years$1,381$882$545$328$193$86
40 years$1,332$839$511$302$175$76
41 years$1,285$799$479$279$159$67
42 years$1,240$761$449$257$144$59
43 years$1,198$725$421$238$131$52
44 years$1,157$691$396$219$119$46
45 years$1,119$659$371$203$108$41
46 years$1,082$628$349$187$98$36
47 years$1,047$600$328$173$89$32
48 years$1,014$572$308$160$81$28
49 years$982$547$289$148$73$25
50 years$951$522$272$137$67$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $974,000, adding $2,608 every year, while hoping to spend $48,510 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: 58/24/18 Blend
53$974,000$974,000$974,000$974,000
54$1,076,038$1,024,416$1,009,319$1,133,224
55$1,134,180$1,022,998$991,517$1,170,896
56$1,196,626$1,019,885$971,493$1,206,425
57$1,263,765$1,014,942$949,121$1,244,060
58$1,336,022$1,008,027$924,269$1,284,013
59$1,413,864$998,989$896,801$1,326,519
60$1,497,806$987,668$866,571$1,371,839
61$1,588,412$973,893$833,431$1,420,264
62$1,686,301$957,485$797,222$1,472,115
63$1,792,155$938,252$757,780$1,527,748
64$1,906,722$915,994$714,933$1,587,560
65$2,030,825$890,496$668,501$1,651,991
66$2,165,371$861,531$618,297$1,721,525
67$2,311,352$828,860$564,123$1,796,704
68$2,469,865$792,229$505,777$1,878,124
69$2,642,114$751,370$443,042$1,966,449
70$2,829,421$705,999$375,696$2,062,410
71$3,033,245$655,816$303,505$2,166,822
72$3,255,189$600,504$226,225$2,280,583
73$3,497,016$539,727$143,602$2,404,690
74$3,760,669$473,130$55,369$2,540,244
75$4,048,283$400,339$0$2,688,466
76$4,362,210$320,958$0$2,858,156
77$4,705,040$234,570$0$3,055,190
78$5,079,621$140,731$0$3,270,632
79$5,489,092$38,977$0$3,506,369
80$5,936,907$0$0$3,764,487
81$6,426,868$0$0$4,066,083
82$6,963,164$0$0$4,407,548
83$7,550,406$0$0$4,781,534
84$8,193,672$0$0$5,191,286
85$8,898,555$0$0$5,640,376
86$9,671,213$0$0$6,132,741
87$10,518,430$0$0$6,672,714
88$11,447,676$0$0$7,265,068
89$12,467,182$0$0$7,915,063
90$13,586,010$0$0$8,628,489
91$14,814,145$0$0$9,411,726
92$16,162,583$0$0$10,271,803
93$17,643,441$0$0$11,216,459
94$19,270,062$0$0$12,254,224
95$21,057,149$0$0$13,394,492
96$23,020,898$0$0$14,647,613
97$25,179,150$0$0$16,024,990
98$27,551,563$0$0$17,539,183
99$30,159,793$0$0$19,204,032
100$33,027,697$0$0$21,034,786