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%19.6%
1 years$80,432$79,716$79,017$78,334$77,668$74,675
2 years$39,818$39,076$38,358$37,661$36,985$34,005
3 years$26,282$25,537$24,820$24,130$23,465$20,592
4 years$19,515$18,772$18,063$17,384$16,735$13,991
5 years$15,456$14,718$14,017$13,353$12,722$10,114
6 years$12,751$12,018$11,328$10,678$10,066$7,596
7 years$10,819$10,093$9,414$8,779$8,187$5,854
8 years$9,371$8,651$7,984$7,365$6,792$4,593
9 years$8,246$7,533$6,876$6,273$5,720$3,653
10 years$7,346$6,640$5,995$5,407$4,873$2,934
11 years$6,610$5,911$5,278$4,706$4,191$2,375
12 years$5,997$5,305$4,684$4,128$3,632$1,935
13 years$5,479$4,794$4,185$3,644$3,167$1,583
14 years$5,035$4,358$3,760$3,235$2,776$1,301
15 years$4,651$3,981$3,395$2,885$2,445$1,072
16 years$4,315$3,653$3,078$2,583$2,160$886
17 years$4,019$3,364$2,801$2,321$1,916$733
18 years$3,756$3,108$2,557$2,092$1,703$608
19 years$3,521$2,881$2,341$1,890$1,518$505
20 years$3,310$2,677$2,148$1,712$1,356$420
21 years$3,120$2,494$1,976$1,554$1,214$349
22 years$2,946$2,328$1,821$1,413$1,088$291
23 years$2,788$2,177$1,681$1,286$976$243
24 years$2,644$2,040$1,555$1,173$878$202
25 years$2,511$1,914$1,440$1,072$790$169
26 years$2,389$1,799$1,336$980$711$141
27 years$2,276$1,693$1,240$897$641$118
28 years$2,171$1,595$1,153$822$579$98
29 years$2,073$1,505$1,073$753$523$82
30 years$1,983$1,421$999$691$472$68
31 years$1,898$1,344$932$635$427$57
32 years$1,819$1,271$869$584$386$48
33 years$1,744$1,204$812$537$349$40
34 years$1,674$1,141$758$494$316$33
35 years$1,609$1,082$709$455$287$28
36 years$1,547$1,027$663$419$260$23
37 years$1,489$976$621$386$235$19
38 years$1,433$927$581$356$213$16
39 years$1,381$882$545$328$193$14
40 years$1,332$839$511$302$175$11
41 years$1,285$799$479$279$159$10
42 years$1,240$761$449$257$144$8
43 years$1,198$725$421$238$131$7
44 years$1,157$691$396$219$119$6
45 years$1,119$659$371$203$108$5
46 years$1,082$628$349$187$98$4
47 years$1,047$600$328$173$89$3
48 years$1,014$572$308$160$81$3
49 years$982$547$289$148$73$2
50 years$951$522$272$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $974,000, adding $4,300 every year, while hoping to spend $25,858 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: 21/49/30 Blend
53$974,000$974,000$974,000$974,000
54$1,077,783$1,026,161$1,011,064$1,090,112
55$1,160,205$1,048,931$1,017,422$1,124,634
56$1,250,166$1,071,949$1,023,127$1,159,101
57$1,348,410$1,095,201$1,028,128$1,195,389
58$1,455,752$1,118,671$1,032,375$1,233,661
59$1,573,092$1,142,339$1,035,813$1,274,100
60$1,701,420$1,166,186$1,038,385$1,316,907
61$1,841,825$1,190,189$1,040,031$1,362,305
62$1,995,508$1,214,325$1,040,689$1,410,537
63$2,163,789$1,238,566$1,040,291$1,461,878
64$2,348,124$1,262,885$1,038,770$1,516,627
65$2,550,116$1,287,249$1,036,052$1,575,116
66$2,771,530$1,311,626$1,032,061$1,637,714
67$3,014,308$1,335,978$1,026,718$1,704,826
68$3,280,593$1,360,266$1,019,938$1,776,901
69$3,572,741$1,384,447$1,011,634$1,854,437
70$3,893,351$1,408,475$1,001,713$1,937,981
71$4,245,283$1,432,301$990,081$2,028,142
72$4,631,688$1,455,870$976,635$2,125,589
73$5,056,039$1,479,126$961,271$2,231,064
74$5,522,158$1,502,007$943,877$2,345,385
75$6,034,260$1,524,447$924,339$2,469,459
76$6,596,985$1,546,375$902,534$2,604,284
77$7,215,445$1,567,715$878,337$2,750,967
78$7,895,273$1,588,386$851,614$2,910,728
79$8,642,675$1,608,301$822,227$3,084,916
80$9,464,488$1,627,368$790,032$3,275,019
81$10,368,245$1,645,487$754,877$3,482,684
82$11,362,243$1,662,554$716,602$3,709,728
83$12,455,627$1,678,454$675,043$3,958,158
84$13,658,470$1,693,068$630,027$4,230,189
85$14,981,874$1,706,267$581,372$4,528,269
86$16,438,067$1,717,916$528,890$4,855,098
87$18,040,525$1,727,870$472,383$5,213,661
88$19,804,095$1,735,972$411,645$5,607,249
89$21,745,139$1,742,060$346,461$6,039,498
90$23,881,680$1,745,959$276,605$6,514,420
91$26,233,583$1,747,483$201,843$7,036,443
92$28,822,734$1,746,434$121,930$7,610,455
93$31,673,247$1,742,604$36,609$8,241,849
94$34,811,696$1,735,770$0$8,936,580
95$38,267,363$1,725,696$0$9,718,642
96$42,072,511$1,712,132$0$10,591,494
97$46,262,692$1,694,812$0$11,551,496
98$50,877,085$1,673,455$0$12,607,570
99$55,958,856$1,647,763$0$13,769,551
100$61,555,576$1,617,421$0$15,048,283