Can I retire at age 54 with 979,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%13.9%
1 years$80,845$80,125$79,422$78,736$78,067$76,805
2 years$40,022$39,277$38,554$37,854$37,175$35,907
3 years$26,416$25,668$24,947$24,253$23,585$22,351
4 years$19,615$18,869$18,155$17,473$16,821$15,630
5 years$15,535$14,793$14,089$13,421$12,787$11,642
6 years$12,816$12,080$11,386$10,733$10,118$9,021
7 years$10,875$10,145$9,462$8,824$8,229$7,180
8 years$9,419$8,696$8,024$7,402$6,826$5,825
9 years$8,288$7,571$6,911$6,305$5,749$4,795
10 years$7,383$6,674$6,026$5,435$4,898$3,991
11 years$6,644$5,941$5,305$4,730$4,213$3,351
12 years$6,028$5,332$4,708$4,149$3,651$2,834
13 years$5,507$4,819$4,206$3,663$3,183$2,410
14 years$5,061$4,380$3,779$3,252$2,791$2,059
15 years$4,675$4,002$3,412$2,900$2,457$1,766
16 years$4,337$3,671$3,094$2,596$2,172$1,520
17 years$4,040$3,381$2,815$2,333$1,925$1,312
18 years$3,776$3,124$2,570$2,102$1,712$1,135
19 years$3,540$2,896$2,353$1,900$1,526$983
20 years$3,327$2,691$2,159$1,721$1,363$854
21 years$3,136$2,506$1,986$1,562$1,220$742
22 years$2,961$2,340$1,830$1,420$1,093$646
23 years$2,803$2,188$1,690$1,293$981$563
24 years$2,657$2,050$1,563$1,179$882$491
25 years$2,524$1,924$1,448$1,077$794$429
26 years$2,401$1,808$1,343$985$715$375
27 years$2,287$1,702$1,247$901$645$328
28 years$2,182$1,604$1,159$826$582$287
29 years$2,084$1,513$1,079$757$525$251
30 years$1,993$1,429$1,005$695$475$220
31 years$1,908$1,351$937$638$429$192
32 years$1,828$1,278$874$587$388$168
33 years$1,753$1,210$816$539$351$148
34 years$1,683$1,147$762$496$318$129
35 years$1,617$1,088$713$457$288$113
36 years$1,555$1,033$667$421$261$99
37 years$1,496$981$624$388$237$87
38 years$1,441$932$584$357$214$76
39 years$1,388$886$548$330$194$67
40 years$1,338$843$513$304$176$59
41 years$1,291$803$481$280$160$52
42 years$1,246$764$451$259$145$45
43 years$1,204$728$424$239$132$40
44 years$1,163$694$398$221$120$35
45 years$1,125$662$373$204$109$31
46 years$1,088$632$351$188$99$27
47 years$1,052$603$329$174$90$24
48 years$1,019$575$310$161$81$21
49 years$987$549$291$148$74$18
50 years$956$525$274$137$67$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $979,000, adding $2,104 every year, while hoping to spend $20,659 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: 38/46/16 Blend
53$979,000$979,000$979,000$979,000
54$1,081,028$1,029,141$1,013,967$1,116,818
55$1,169,312$1,057,588$1,025,954$1,171,107
56$1,265,909$1,086,737$1,037,650$1,227,603
57$1,371,644$1,116,599$1,049,023$1,288,219
58$1,487,427$1,147,188$1,060,041$1,353,336
59$1,614,260$1,178,516$1,070,668$1,423,373
60$1,753,247$1,210,595$1,080,868$1,498,793
61$1,905,601$1,243,438$1,090,600$1,580,105
62$2,072,662$1,277,055$1,099,824$1,667,866
63$2,255,902$1,311,460$1,108,498$1,762,693
64$2,456,946$1,346,663$1,116,574$1,865,263
65$2,677,581$1,382,676$1,124,006$1,976,324
66$2,919,776$1,419,510$1,130,742$2,096,696
67$3,185,702$1,457,174$1,136,730$2,227,285
68$3,477,747$1,495,679$1,141,914$2,369,086
69$3,798,544$1,535,035$1,146,236$2,523,198
70$4,150,994$1,575,250$1,149,633$2,690,828
71$4,538,292$1,616,333$1,152,042$2,873,309
72$4,963,956$1,658,292$1,153,394$3,072,106
73$5,431,866$1,701,134$1,153,618$3,288,836
74$5,946,291$1,744,865$1,152,640$3,525,278
75$6,511,941$1,789,491$1,150,381$3,783,393
76$7,133,998$1,835,016$1,146,758$4,065,340
77$7,818,178$1,881,443$1,141,687$4,373,500
78$8,570,774$1,928,776$1,135,075$4,710,495
79$9,398,722$1,977,015$1,126,829$5,079,215
80$10,309,663$2,026,160$1,116,849$5,482,842
81$11,312,017$2,076,210$1,105,032$5,924,884
82$12,415,060$2,127,162$1,091,267$6,409,208
83$13,629,013$2,179,010$1,075,442$6,940,072
84$14,965,140$2,231,749$1,057,437$7,522,170
85$16,435,850$2,285,370$1,037,127$8,160,673
86$18,054,816$2,339,863$1,014,380$8,861,282
87$19,837,106$2,395,215$989,061$9,630,278
88$21,799,322$2,451,412$961,025$10,474,581
89$23,959,757$2,508,435$930,124$11,401,819
90$26,338,568$2,566,265$896,199$12,420,398
91$28,957,969$2,624,878$859,088$13,539,582
92$31,842,433$2,684,249$818,619$14,769,578
93$35,018,932$2,744,347$774,613$16,121,637
94$38,517,183$2,805,140$726,883$17,608,157
95$42,369,935$2,866,592$675,233$19,242,802
96$46,613,274$2,928,660$619,459$21,040,630
97$51,286,964$2,991,300$559,347$23,018,235
98$56,434,823$3,054,463$494,674$25,193,906
99$62,105,136$3,118,093$425,206$27,587,799
100$68,351,111$3,182,130$350,702$30,222,124