Can I retire at age 54 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$80,845$80,125$79,422$78,736$78,067$77,219
2 years$40,022$39,277$38,554$37,854$37,175$36,321
3 years$26,416$25,668$24,947$24,253$23,585$22,753
4 years$19,615$18,869$18,155$17,473$16,821$16,016
5 years$15,535$14,793$14,089$13,421$12,787$12,011
6 years$12,816$12,080$11,386$10,733$10,118$9,372
7 years$10,875$10,145$9,462$8,824$8,229$7,514
8 years$9,419$8,696$8,024$7,402$6,826$6,142
9 years$8,288$7,571$6,911$6,305$5,749$5,095
10 years$7,383$6,674$6,026$5,435$4,898$4,274
11 years$6,644$5,941$5,305$4,730$4,213$3,618
12 years$6,028$5,332$4,708$4,149$3,651$3,085
13 years$5,507$4,819$4,206$3,663$3,183$2,646
14 years$5,061$4,380$3,779$3,252$2,791$2,280
15 years$4,675$4,002$3,412$2,900$2,457$1,973
16 years$4,337$3,671$3,094$2,596$2,172$1,714
17 years$4,040$3,381$2,815$2,333$1,925$1,493
18 years$3,776$3,124$2,570$2,102$1,712$1,303
19 years$3,540$2,896$2,353$1,900$1,526$1,140
20 years$3,327$2,691$2,159$1,721$1,363$1,000
21 years$3,136$2,506$1,986$1,562$1,220$878
22 years$2,961$2,340$1,830$1,420$1,093$772
23 years$2,803$2,188$1,690$1,293$981$679
24 years$2,657$2,050$1,563$1,179$882$599
25 years$2,524$1,924$1,448$1,077$794$528
26 years$2,401$1,808$1,343$985$715$466
27 years$2,287$1,702$1,247$901$645$412
28 years$2,182$1,604$1,159$826$582$364
29 years$2,084$1,513$1,079$757$525$322
30 years$1,993$1,429$1,005$695$475$285
31 years$1,908$1,351$937$638$429$252
32 years$1,828$1,278$874$587$388$223
33 years$1,753$1,210$816$539$351$198
34 years$1,683$1,147$762$496$318$175
35 years$1,617$1,088$713$457$288$155
36 years$1,555$1,033$667$421$261$138
37 years$1,496$981$624$388$237$122
38 years$1,441$932$584$357$214$108
39 years$1,388$886$548$330$194$96
40 years$1,338$843$513$304$176$85
41 years$1,291$803$481$280$160$76
42 years$1,246$764$451$259$145$67
43 years$1,204$728$424$239$132$60
44 years$1,163$694$398$221$120$53
45 years$1,125$662$373$204$109$47
46 years$1,088$632$351$188$99$42
47 years$1,052$603$329$174$90$37
48 years$1,019$575$310$161$81$33
49 years$987$549$291$148$74$29
50 years$956$525$274$137$67$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $979,000, adding $2,470 every year, while hoping to spend $56,551 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: 55/26/19 Blend
53$979,000$979,000$979,000$979,000
54$1,081,406$1,029,519$1,014,344$1,135,221
55$1,131,539$1,019,795$988,155$1,162,529
56$1,184,891$1,007,700$959,193$1,186,022
57$1,241,730$993,057$927,306$1,210,364
58$1,302,349$975,680$892,334$1,235,650
59$1,367,072$955,372$854,110$1,261,990
60$1,436,251$931,922$812,460$1,289,507
61$1,510,272$905,110$767,201$1,318,338
62$1,589,561$874,702$718,143$1,348,640
63$1,674,582$840,448$665,087$1,380,587
64$1,765,847$802,087$607,825$1,414,379
65$1,863,915$759,341$546,138$1,450,234
66$1,969,401$711,915$479,801$1,488,403
67$2,082,981$659,500$408,575$1,529,162
68$2,205,396$601,767$332,213$1,572,823
69$2,337,461$538,368$250,457$1,619,736
70$2,480,070$468,936$163,036$1,670,288
71$2,634,208$393,085$69,668$1,724,916
72$2,800,954$310,403$0$1,784,105
73$2,981,498$220,459$0$1,854,474
74$3,177,145$122,796$0$1,946,017
75$3,389,331$16,930$0$2,045,335
76$3,619,635$0$0$2,153,246
77$3,869,796$0$0$2,298,592
78$4,141,722$0$0$2,461,930
79$4,437,518$0$0$2,639,688
80$4,759,495$0$0$2,833,267
81$5,110,198$0$0$3,044,207
82$5,492,427$0$0$3,274,204
83$5,909,265$0$0$3,525,125
84$6,364,104$0$0$3,799,023
85$6,860,677$0$0$4,098,161
86$7,403,095$0$0$4,425,028
87$7,995,883$0$0$4,782,363
88$8,644,021$0$0$5,173,186
89$9,352,995$0$0$5,600,818
90$10,128,844$0$0$6,068,917
91$10,978,218$0$0$6,581,511
92$11,908,439$0$0$7,143,038
93$12,927,571$0$0$7,758,382
94$14,044,496$0$0$8,432,925
95$15,268,994$0$0$9,172,590
96$16,611,838$0$0$9,983,906
97$18,084,892$0$0$10,874,062
98$19,701,225$0$0$11,850,975
99$21,475,231$0$0$12,923,367
100$23,422,767$0$0$14,100,846