Can I retire at age 54 with 976,000?

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 $976,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$80,597$79,879$79,179$78,495$77,828$75,246
2 years$39,900$39,156$38,436$37,738$37,061$34,485
3 years$26,336$25,589$24,871$24,179$23,513$21,024
4 years$19,555$18,811$18,100$17,420$16,770$14,386
5 years$15,487$14,748$14,046$13,380$12,748$10,476
6 years$12,777$12,043$11,351$10,700$10,087$7,929
7 years$10,841$10,113$9,433$8,797$8,203$6,159
8 years$9,390$8,669$8,000$7,380$6,806$4,873
9 years$8,262$7,548$6,890$6,286$5,731$3,909
10 years$7,361$6,653$6,007$5,418$4,883$3,168
11 years$6,623$5,923$5,289$4,716$4,200$2,588
12 years$6,009$5,316$4,693$4,136$3,639$2,127
13 years$5,490$4,804$4,193$3,652$3,174$1,758
14 years$5,046$4,367$3,768$3,242$2,782$1,458
15 years$4,661$3,989$3,402$2,891$2,450$1,214
16 years$4,324$3,660$3,084$2,589$2,165$1,013
17 years$4,027$3,371$2,806$2,326$1,920$847
18 years$3,764$3,115$2,562$2,096$1,707$710
19 years$3,529$2,887$2,345$1,894$1,521$596
20 years$3,317$2,682$2,152$1,715$1,359$501
21 years$3,126$2,499$1,980$1,557$1,216$421
22 years$2,952$2,332$1,825$1,415$1,090$355
23 years$2,794$2,181$1,685$1,289$978$299
24 years$2,649$2,044$1,558$1,176$879$252
25 years$2,516$1,918$1,443$1,074$791$213
26 years$2,394$1,803$1,338$982$713$180
27 years$2,280$1,697$1,243$899$643$152
28 years$2,175$1,599$1,155$823$580$128
29 years$2,078$1,508$1,075$755$524$108
30 years$1,987$1,424$1,002$693$473$91
31 years$1,902$1,346$934$636$428$77
32 years$1,822$1,274$871$585$387$65
33 years$1,748$1,206$813$538$350$55
34 years$1,678$1,143$760$495$317$47
35 years$1,612$1,085$711$456$287$39
36 years$1,550$1,029$665$420$260$33
37 years$1,492$978$622$387$236$28
38 years$1,436$929$583$356$214$24
39 years$1,384$884$546$329$194$20
40 years$1,334$841$512$303$176$17
41 years$1,287$800$480$280$160$14
42 years$1,243$762$450$258$145$12
43 years$1,200$726$422$238$131$10
44 years$1,160$692$396$220$119$9
45 years$1,121$660$372$203$108$7
46 years$1,084$630$350$188$98$6
47 years$1,049$601$328$173$89$5
48 years$1,016$574$309$160$81$4
49 years$984$548$290$148$74$4
50 years$953$523$273$137$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $976,000, adding $2,044 every year, while hoping to spend $26,649 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: 78/14/8 Blend
53$976,000$976,000$976,000$976,000
54$1,077,660$1,025,932$1,010,804$1,160,368
55$1,159,227$1,047,849$1,016,312$1,236,868
56$1,248,221$1,069,946$1,021,111$1,317,085
57$1,345,371$1,092,204$1,025,149$1,404,276
58$1,451,480$1,114,603$1,028,373$1,499,123
59$1,567,431$1,137,120$1,030,724$1,602,379
60$1,694,199$1,159,728$1,032,143$1,714,871
61$1,832,853$1,182,401$1,032,566$1,837,511
62$1,984,575$1,205,109$1,031,928$1,971,303
63$2,150,663$1,227,821$1,030,158$2,117,353
64$2,332,547$1,250,500$1,027,185$2,276,880
65$2,531,802$1,273,110$1,022,931$2,451,226
66$2,750,164$1,295,610$1,017,317$2,641,869
67$2,989,542$1,317,957$1,010,258$2,850,439
68$3,252,040$1,340,102$1,001,667$3,078,730
69$3,539,977$1,361,996$991,452$3,328,719
70$3,855,905$1,383,584$979,516$3,602,584
71$4,202,635$1,404,807$965,757$3,902,725
72$4,583,264$1,425,603$950,071$4,231,787
73$5,001,205$1,445,905$932,346$4,592,683
74$5,460,214$1,465,641$912,466$4,988,623
75$5,964,433$1,484,734$890,310$5,423,144
76$6,518,421$1,503,102$865,751$5,900,145
77$7,127,202$1,520,657$838,657$6,423,920
78$7,796,312$1,537,304$808,887$6,999,201
79$8,531,849$1,552,945$776,298$7,631,204
80$9,340,530$1,567,472$740,736$8,325,675
81$10,229,758$1,580,771$702,044$9,088,946
82$11,207,686$1,592,722$660,056$9,927,996
83$12,283,299$1,603,195$614,597$10,850,513
84$13,466,497$1,612,052$565,487$11,864,973
85$14,768,185$1,619,148$512,536$12,980,711
86$16,200,380$1,624,327$455,547$14,208,020
87$17,776,324$1,627,424$394,312$15,558,238
88$19,510,604$1,628,263$328,617$17,043,862
89$21,419,295$1,626,657$258,235$18,678,663
90$23,520,109$1,622,409$182,932$20,477,817
91$25,832,561$1,615,309$102,461$22,458,048
92$28,378,156$1,605,132$16,567$24,637,786
93$31,180,588$1,591,643$0$27,037,342
94$34,265,965$1,574,591$0$29,685,507
95$37,663,056$1,553,709$0$32,602,464
96$41,403,563$1,528,716$0$35,814,003
97$45,522,416$1,499,313$0$39,350,107
98$50,058,107$1,465,183$0$43,243,814
99$55,053,048$1,425,992$0$47,531,532
100$60,553,978$1,381,384$0$52,253,382