Can I retire at age 54 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$80,762$80,043$79,341$78,656$77,987$75,551
2 years$39,981$39,237$38,515$37,815$37,137$34,704
3 years$26,389$25,642$24,922$24,229$23,561$21,208
4 years$19,595$18,849$18,137$17,455$16,804$14,549
5 years$15,519$14,778$14,075$13,407$12,774$10,623
6 years$12,803$12,067$11,375$10,722$10,108$8,062
7 years$10,863$10,134$9,452$8,815$8,220$6,281
8 years$9,410$8,687$8,016$7,395$6,820$4,984
9 years$8,279$7,563$6,904$6,299$5,743$4,010
10 years$7,376$6,667$6,019$5,430$4,893$3,260
11 years$6,637$5,935$5,299$4,725$4,208$2,672
12 years$6,022$5,327$4,703$4,145$3,647$2,204
13 years$5,501$4,814$4,202$3,659$3,180$1,827
14 years$5,056$4,376$3,775$3,248$2,788$1,521
15 years$4,670$3,997$3,409$2,897$2,455$1,271
16 years$4,333$3,668$3,091$2,594$2,169$1,064
17 years$4,036$3,378$2,812$2,331$1,923$894
18 years$3,772$3,121$2,567$2,100$1,710$752
19 years$3,536$2,893$2,350$1,898$1,524$633
20 years$3,324$2,688$2,157$1,719$1,362$534
21 years$3,132$2,504$1,984$1,560$1,219$451
22 years$2,958$2,337$1,828$1,418$1,092$381
23 years$2,800$2,186$1,688$1,292$980$323
24 years$2,655$2,048$1,561$1,178$881$273
25 years$2,521$1,922$1,446$1,076$793$231
26 years$2,399$1,806$1,341$984$714$196
27 years$2,285$1,700$1,245$900$644$166
28 years$2,180$1,602$1,158$825$581$141
29 years$2,082$1,511$1,077$757$525$120
30 years$1,991$1,427$1,004$694$474$101
31 years$1,906$1,349$936$638$429$86
32 years$1,826$1,277$873$586$388$73
33 years$1,751$1,209$815$539$351$62
34 years$1,681$1,146$762$496$318$53
35 years$1,615$1,087$712$456$288$45
36 years$1,553$1,032$666$420$261$38
37 years$1,495$980$623$387$236$32
38 years$1,439$931$584$357$214$27
39 years$1,387$885$547$329$194$23
40 years$1,337$842$513$304$176$20
41 years$1,290$802$481$280$160$17
42 years$1,245$764$451$259$145$14
43 years$1,203$728$423$239$132$12
44 years$1,162$694$397$220$119$10
45 years$1,123$661$373$204$108$9
46 years$1,087$631$350$188$98$7
47 years$1,051$602$329$174$89$6
48 years$1,018$575$309$160$81$5
49 years$986$549$291$148$74$5
50 years$955$524$273$137$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $978,000, adding $5,849 every year, while hoping to spend $31,168 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: 68/20/12 Blend
53$978,000$978,000$978,000$978,000
54$1,083,789$1,031,955$1,016,796$1,154,254
55$1,161,173$1,049,359$1,017,696$1,219,265
56$1,245,406$1,066,570$1,017,582$1,286,070
57$1,337,153$1,083,547$1,016,386$1,358,324
58$1,437,146$1,100,245$1,014,039$1,436,560
59$1,546,192$1,116,614$1,010,467$1,521,361
60$1,665,179$1,132,603$1,005,592$1,613,373
61$1,795,082$1,148,156$999,335$1,713,306
62$1,936,977$1,163,212$991,609$1,821,942
63$2,092,047$1,177,708$982,327$1,940,143
64$2,261,596$1,191,576$971,395$2,068,861
65$2,447,058$1,204,742$958,716$2,209,144
66$2,650,013$1,217,129$944,187$2,362,145
67$2,872,199$1,228,654$927,703$2,529,139
68$3,115,533$1,239,228$909,150$2,711,527
69$3,382,124$1,248,756$888,413$2,910,856
70$3,674,294$1,257,139$865,369$3,128,832
71$3,994,602$1,264,269$839,889$3,367,332
72$4,345,866$1,270,032$811,840$3,628,429
73$4,731,189$1,274,309$781,081$3,914,404
74$5,153,989$1,276,969$747,466$4,227,775
75$5,618,032$1,277,876$710,842$4,571,315
76$6,127,465$1,276,886$671,049$4,948,082
77$6,686,856$1,273,843$627,919$5,361,447
78$7,301,239$1,268,585$581,278$5,815,125
79$7,976,157$1,260,937$530,942$6,313,211
80$8,717,717$1,250,715$476,721$6,860,221
81$9,532,649$1,237,724$418,415$7,461,130
82$10,428,363$1,221,757$355,816$8,121,424
83$11,413,027$1,202,594$288,707$8,847,150
84$12,495,638$1,180,003$216,861$9,644,972
85$13,686,107$1,153,737$140,039$10,522,237
86$14,995,355$1,123,535$57,996$11,487,044
87$16,435,414$1,089,122$0$12,548,319
88$18,019,541$1,050,203$0$13,719,687
89$19,762,342$1,006,471$0$15,016,379
90$21,679,910$957,598$0$16,442,951
91$23,789,977$903,236$0$18,012,620
92$26,112,081$843,020$0$19,739,948
93$28,667,748$776,563$0$21,640,986
94$31,480,699$703,455$0$23,733,421
95$34,577,069$623,263$0$26,036,750
96$37,985,657$535,530$0$28,572,456
97$41,738,195$439,772$0$31,364,216
98$45,869,649$335,480$0$34,438,124
99$50,418,548$222,112$0$37,822,941
100$55,427,345$99,101$0$41,550,358