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%19.1%
1 years$80,762$80,043$79,341$78,656$77,987$75,130
2 years$39,981$39,237$38,515$37,815$37,137$34,290
3 years$26,389$25,642$24,922$24,229$23,561$20,815
4 years$19,595$18,849$18,137$17,455$16,804$14,179
5 years$15,519$14,778$14,075$13,407$12,774$10,276
6 years$12,803$12,067$11,375$10,722$10,108$7,740
7 years$10,863$10,134$9,452$8,815$8,220$5,981
8 years$9,410$8,687$8,016$7,395$6,820$4,707
9 years$8,279$7,563$6,904$6,299$5,743$3,755
10 years$7,376$6,667$6,019$5,430$4,893$3,026
11 years$6,637$5,935$5,299$4,725$4,208$2,457
12 years$6,022$5,327$4,703$4,145$3,647$2,008
13 years$5,501$4,814$4,202$3,659$3,180$1,649
14 years$5,056$4,376$3,775$3,248$2,788$1,360
15 years$4,670$3,997$3,409$2,897$2,455$1,124
16 years$4,333$3,668$3,091$2,594$2,169$932
17 years$4,036$3,378$2,812$2,331$1,923$775
18 years$3,772$3,121$2,567$2,100$1,710$645
19 years$3,536$2,893$2,350$1,898$1,524$538
20 years$3,324$2,688$2,157$1,719$1,362$449
21 years$3,132$2,504$1,984$1,560$1,219$375
22 years$2,958$2,337$1,828$1,418$1,092$313
23 years$2,800$2,186$1,688$1,292$980$262
24 years$2,655$2,048$1,561$1,178$881$220
25 years$2,521$1,922$1,446$1,076$793$184
26 years$2,399$1,806$1,341$984$714$154
27 years$2,285$1,700$1,245$900$644$129
28 years$2,180$1,602$1,158$825$581$108
29 years$2,082$1,511$1,077$757$525$91
30 years$1,991$1,427$1,004$694$474$76
31 years$1,906$1,349$936$638$429$64
32 years$1,826$1,277$873$586$388$54
33 years$1,751$1,209$815$539$351$45
34 years$1,681$1,146$762$496$318$38
35 years$1,615$1,087$712$456$288$32
36 years$1,553$1,032$666$420$261$27
37 years$1,495$980$623$387$236$22
38 years$1,439$931$584$357$214$19
39 years$1,387$885$547$329$194$16
40 years$1,337$842$513$304$176$13
41 years$1,290$802$481$280$160$11
42 years$1,245$764$451$259$145$9
43 years$1,203$728$423$239$132$8
44 years$1,162$694$397$220$119$7
45 years$1,123$661$373$204$108$6
46 years$1,087$631$350$188$98$5
47 years$1,051$602$329$174$89$4
48 years$1,018$575$309$160$81$3
49 years$986$549$291$148$74$3
50 years$955$524$273$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $978,000, adding $4,516 every year, while hoping to spend $22,155 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: 71/17/12 Blend
53$978,000$978,000$978,000$978,000
54$1,082,414$1,030,580$1,015,421$1,156,224
55$1,169,248$1,057,506$1,025,865$1,232,654
56$1,264,196$1,085,008$1,035,916$1,313,157
57$1,368,062$1,113,093$1,045,538$1,400,691
58$1,481,734$1,141,763$1,054,693$1,495,945
59$1,606,184$1,171,023$1,063,339$1,599,677
60$1,742,488$1,200,876$1,071,434$1,712,722
61$1,891,828$1,231,325$1,078,933$1,836,002
62$2,055,506$1,262,372$1,085,788$1,970,530
63$2,234,957$1,294,017$1,091,951$2,117,422
64$2,431,760$1,326,262$1,097,369$2,277,907
65$2,647,655$1,359,104$1,101,987$2,453,341
66$2,884,559$1,392,543$1,105,747$2,645,214
67$3,144,583$1,426,577$1,108,588$2,855,172
68$3,430,052$1,461,201$1,110,447$3,085,025
69$3,743,528$1,496,410$1,111,258$3,336,768
70$4,087,831$1,532,198$1,110,949$3,612,600
71$4,466,072$1,568,557$1,109,447$3,914,940
72$4,881,673$1,605,478$1,106,675$4,246,459
73$5,338,407$1,642,951$1,102,553$4,610,095
74$5,840,431$1,680,961$1,096,995$5,009,087
75$6,392,323$1,719,496$1,089,911$5,447,005
76$6,999,127$1,758,538$1,081,210$5,927,781
77$7,666,400$1,798,069$1,070,794$6,455,748
78$8,400,267$1,838,068$1,058,559$7,035,680
79$9,207,472$1,878,512$1,044,399$7,672,838
80$10,095,449$1,919,374$1,028,201$8,373,020
81$11,072,388$1,960,627$1,009,849$9,142,614
82$12,147,311$2,002,237$989,219$9,988,658
83$13,330,162$2,044,171$966,182$10,918,910
84$14,631,893$2,086,390$940,604$11,941,917
85$16,064,575$2,128,853$912,343$13,067,099
86$17,641,509$2,171,513$881,254$14,304,835
87$19,377,347$2,214,322$847,180$15,666,562
88$21,288,238$2,257,225$809,962$17,164,886
89$23,391,973$2,300,164$769,431$18,813,697
90$25,708,158$2,343,075$725,410$20,628,300
91$28,258,395$2,385,891$677,717$22,625,563
92$31,066,488$2,428,537$626,157$24,824,074
93$34,158,668$2,470,933$570,531$27,244,317
94$37,563,837$2,512,994$510,629$29,908,866
95$41,313,844$2,554,626$446,231$32,842,595
96$45,443,785$2,595,731$377,108$36,072,919
97$49,992,331$2,636,203$303,021$39,630,046
98$55,002,098$2,675,925$223,721$43,547,268
99$60,520,042$2,714,776$138,947$47,861,271
100$66,597,911$2,752,625$48,426$52,612,487