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%18.7%
1 years$80,762$80,043$79,341$78,656$77,987$75,250
2 years$39,981$39,237$38,515$37,815$37,137$34,408
3 years$26,389$25,642$24,922$24,229$23,561$20,926
4 years$19,595$18,849$18,137$17,455$16,804$14,283
5 years$15,519$14,778$14,075$13,407$12,774$10,374
6 years$12,803$12,067$11,375$10,722$10,108$7,830
7 years$10,863$10,134$9,452$8,815$8,220$6,065
8 years$9,410$8,687$8,016$7,395$6,820$4,785
9 years$8,279$7,563$6,904$6,299$5,743$3,826
10 years$7,376$6,667$6,019$5,430$4,893$3,091
11 years$6,637$5,935$5,299$4,725$4,208$2,517
12 years$6,022$5,327$4,703$4,145$3,647$2,062
13 years$5,501$4,814$4,202$3,659$3,180$1,698
14 years$5,056$4,376$3,775$3,248$2,788$1,404
15 years$4,670$3,997$3,409$2,897$2,455$1,164
16 years$4,333$3,668$3,091$2,594$2,169$968
17 years$4,036$3,378$2,812$2,331$1,923$807
18 years$3,772$3,121$2,567$2,100$1,710$674
19 years$3,536$2,893$2,350$1,898$1,524$563
20 years$3,324$2,688$2,157$1,719$1,362$472
21 years$3,132$2,504$1,984$1,560$1,219$395
22 years$2,958$2,337$1,828$1,418$1,092$332
23 years$2,800$2,186$1,688$1,292$980$278
24 years$2,655$2,048$1,561$1,178$881$234
25 years$2,521$1,922$1,446$1,076$793$196
26 years$2,399$1,806$1,341$984$714$165
27 years$2,285$1,700$1,245$900$644$139
28 years$2,180$1,602$1,158$825$581$117
29 years$2,082$1,511$1,077$757$525$98
30 years$1,991$1,427$1,004$694$474$83
31 years$1,906$1,349$936$638$429$70
32 years$1,826$1,277$873$586$388$59
33 years$1,751$1,209$815$539$351$49
34 years$1,681$1,146$762$496$318$42
35 years$1,615$1,087$712$456$288$35
36 years$1,553$1,032$666$420$261$29
37 years$1,495$980$623$387$236$25
38 years$1,439$931$584$357$214$21
39 years$1,387$885$547$329$194$18
40 years$1,337$842$513$304$176$15
41 years$1,290$802$481$280$160$12
42 years$1,245$764$451$259$145$11
43 years$1,203$728$423$239$132$9
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$4
49 years$986$549$291$148$74$3
50 years$955$524$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 $978,000, adding $3,362 every year, while hoping to spend $26,526 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: 29/44/27 Blend
53$978,000$978,000$978,000$978,000
54$1,081,224$1,029,390$1,014,231$1,103,470
55$1,163,285$1,051,607$1,019,984$1,143,462
56$1,252,828$1,074,023$1,025,041$1,183,889
57$1,350,587$1,096,620$1,029,350$1,226,819
58$1,457,371$1,119,379$1,032,858$1,272,486
59$1,574,072$1,142,278$1,035,508$1,321,148
60$1,701,669$1,165,292$1,037,240$1,373,092
61$1,841,244$1,188,395$1,037,991$1,428,633
62$1,993,984$1,211,560$1,037,697$1,488,120
63$2,161,199$1,234,755$1,036,289$1,551,938
64$2,344,331$1,257,947$1,033,694$1,620,512
65$2,544,967$1,281,101$1,029,837$1,694,312
66$2,764,855$1,304,176$1,024,638$1,773,857
67$3,005,921$1,327,132$1,018,015$1,859,720
68$3,270,287$1,349,923$1,009,879$1,952,533
69$3,560,287$1,372,500$1,000,141$2,052,994
70$3,878,494$1,394,811$988,704$2,161,876
71$4,227,743$1,416,799$975,469$2,280,030
72$4,611,156$1,438,405$960,329$2,408,396
73$5,032,170$1,459,563$943,176$2,548,014
74$5,494,574$1,480,204$923,895$2,700,029
75$6,002,540$1,500,254$902,366$2,865,708
76$6,560,666$1,519,633$878,462$3,046,448
77$7,174,015$1,538,257$852,052$3,243,791
78$7,848,168$1,556,034$822,998$3,459,440
79$8,589,269$1,572,868$791,157$3,695,276
80$9,404,091$1,588,655$756,377$3,953,371
81$10,300,095$1,603,286$718,503$4,236,016
82$11,285,500$1,616,642$677,368$4,545,738
83$12,369,362$1,628,599$632,801$4,885,325
84$13,561,660$1,639,023$584,622$5,257,854
85$14,873,386$1,647,772$532,644$5,666,721
86$16,316,655$1,654,696$476,671$6,115,673
87$17,904,811$1,659,634$416,497$6,608,844
88$19,652,561$1,662,415$351,909$7,150,795
89$21,576,108$1,662,859$282,683$7,746,559
90$23,693,304$1,660,772$208,586$8,401,686
91$26,023,822$1,655,951$129,375$9,122,303
92$28,589,338$1,648,178$44,795$9,915,164
93$31,413,735$1,637,223$0$10,787,724
94$34,523,332$1,622,843$0$11,761,301
95$37,947,127$1,604,778$0$12,846,487
96$41,717,076$1,582,754$0$14,040,449
97$45,868,389$1,556,480$0$15,354,305
98$50,439,865$1,525,649$0$16,800,311
99$55,474,258$1,489,932$0$18,391,978
100$61,018,680$1,448,986$0$20,144,204