Can I retire at age 54 with 975,000?

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 $975,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$80,515$79,797$79,098$78,415$77,748$77,193
2 years$39,859$39,116$38,397$37,699$37,023$36,463
3 years$26,309$25,563$24,845$24,154$23,489$22,942
4 years$19,535$18,791$18,081$17,402$16,752$16,223
5 years$15,472$14,733$14,032$13,366$12,735$12,224
6 years$12,764$12,030$11,340$10,689$10,077$9,585
7 years$10,830$10,103$9,423$8,788$8,195$7,722
8 years$9,381$8,660$7,992$7,372$6,799$6,345
9 years$8,254$7,540$6,883$6,279$5,725$5,291
10 years$7,353$6,646$6,001$5,413$4,878$4,463
11 years$6,617$5,917$5,283$4,711$4,196$3,799
12 years$6,003$5,311$4,689$4,132$3,636$3,257
13 years$5,485$4,799$4,189$3,648$3,170$2,810
14 years$5,040$4,362$3,764$3,238$2,779$2,436
15 years$4,656$3,985$3,398$2,888$2,447$2,121
16 years$4,320$3,656$3,081$2,586$2,163$1,853
17 years$4,023$3,367$2,804$2,323$1,918$1,624
18 years$3,760$3,112$2,559$2,094$1,705$1,427
19 years$3,525$2,884$2,343$1,892$1,520$1,257
20 years$3,314$2,680$2,150$1,714$1,357$1,109
21 years$3,123$2,496$1,978$1,555$1,215$980
22 years$2,949$2,330$1,823$1,414$1,089$868
23 years$2,791$2,179$1,683$1,288$977$769
24 years$2,647$2,042$1,557$1,174$879$683
25 years$2,514$1,916$1,442$1,073$791$606
26 years$2,391$1,801$1,337$981$712$539
27 years$2,278$1,695$1,242$898$642$480
28 years$2,173$1,597$1,154$822$579$427
29 years$2,076$1,507$1,074$754$523$380
30 years$1,985$1,423$1,000$692$473$339
31 years$1,900$1,345$933$636$427$302
32 years$1,820$1,273$870$584$387$270
33 years$1,746$1,205$813$537$350$241
34 years$1,676$1,142$759$494$317$215
35 years$1,610$1,083$710$455$287$192
36 years$1,549$1,028$664$419$260$171
37 years$1,490$977$622$386$236$153
38 years$1,435$928$582$356$214$137
39 years$1,383$883$545$328$194$122
40 years$1,333$840$511$303$176$109
41 years$1,286$799$479$279$159$98
42 years$1,241$761$450$258$145$87
43 years$1,199$725$422$238$131$78
44 years$1,158$691$396$220$119$70
45 years$1,120$659$372$203$108$63
46 years$1,083$629$349$187$98$56
47 years$1,048$600$328$173$89$50
48 years$1,015$573$308$160$81$45
49 years$983$547$290$148$74$40
50 years$952$523$272$137$67$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $975,000, adding $5,595 every year, while hoping to spend $39,763 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: 55/28/17 Blend
53$975,000$975,000$975,000$975,000
54$1,080,221$1,028,546$1,013,434$1,134,446
55$1,148,096$1,036,637$1,005,076$1,180,124
56$1,221,562$1,043,793$995,106$1,225,102
57$1,301,146$1,049,923$983,427$1,273,191
58$1,387,430$1,054,937$969,939$1,324,697
59$1,481,053$1,058,733$954,537$1,379,961
60$1,582,716$1,061,207$937,110$1,439,358
61$1,693,193$1,062,246$917,542$1,503,303
62$1,813,333$1,061,730$895,714$1,572,254
63$1,944,071$1,059,533$871,499$1,646,720
64$2,086,437$1,055,521$844,765$1,727,262
65$2,241,562$1,049,550$815,373$1,814,498
66$2,410,693$1,041,470$783,180$1,909,116
67$2,595,201$1,031,119$748,033$2,011,872
68$2,796,594$1,018,327$709,776$2,123,604
69$3,016,536$1,002,914$668,242$2,245,237
70$3,256,854$984,688$623,260$2,377,793
71$3,519,563$963,448$574,649$2,522,401
72$3,806,879$938,977$522,220$2,680,310
73$4,121,243$911,050$465,777$2,852,897
74$4,465,344$879,425$405,114$3,041,685
75$4,842,140$843,848$340,017$3,248,356
76$5,254,892$804,050$270,260$3,474,766
77$5,707,188$759,745$195,611$3,722,967
78$6,202,981$710,633$115,825$3,995,224
79$6,746,626$656,395$30,646$4,294,036
80$7,342,917$596,693$0$4,622,164
81$7,997,136$531,173$0$4,993,587
82$8,715,101$459,457$0$5,407,382
83$9,503,219$381,148$0$5,861,751
84$10,368,549$295,827$0$6,360,849
85$11,318,867$203,048$0$6,909,258
86$12,362,738$102,344$0$7,512,031
87$13,509,599$0$0$8,174,742
88$14,769,844$0$0$8,905,627
89$16,154,925$0$0$9,743,664
90$17,677,460$0$0$10,664,965
91$19,351,346$0$0$11,677,954
92$21,191,899$0$0$12,791,909
93$23,215,990$0$0$14,017,057
94$25,442,208$0$0$15,364,662
95$27,891,032$0$0$16,847,135
96$30,585,029$0$0$18,478,151
97$33,549,060$0$0$20,272,778
98$36,810,520$0$0$22,247,618
99$40,399,592$0$0$24,420,962
100$44,349,533$0$0$26,812,967