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%13.3%
1 years$80,845$80,125$79,422$78,736$78,067$76,996
2 years$40,022$39,277$38,554$37,854$37,175$36,097
3 years$26,416$25,668$24,947$24,253$23,585$22,535
4 years$19,615$18,869$18,155$17,473$16,821$15,807
5 years$15,535$14,793$14,089$13,421$12,787$11,811
6 years$12,816$12,080$11,386$10,733$10,118$9,181
7 years$10,875$10,145$9,462$8,824$8,229$7,332
8 years$9,419$8,696$8,024$7,402$6,826$5,970
9 years$8,288$7,571$6,911$6,305$5,749$4,931
10 years$7,383$6,674$6,026$5,435$4,898$4,120
11 years$6,644$5,941$5,305$4,730$4,213$3,472
12 years$6,028$5,332$4,708$4,149$3,651$2,947
13 years$5,507$4,819$4,206$3,663$3,183$2,516
14 years$5,061$4,380$3,779$3,252$2,791$2,159
15 years$4,675$4,002$3,412$2,900$2,457$1,859
16 years$4,337$3,671$3,094$2,596$2,172$1,607
17 years$4,040$3,381$2,815$2,333$1,925$1,392
18 years$3,776$3,124$2,570$2,102$1,712$1,210
19 years$3,540$2,896$2,353$1,900$1,526$1,053
20 years$3,327$2,691$2,159$1,721$1,363$918
21 years$3,136$2,506$1,986$1,562$1,220$802
22 years$2,961$2,340$1,830$1,420$1,093$702
23 years$2,803$2,188$1,690$1,293$981$614
24 years$2,657$2,050$1,563$1,179$882$538
25 years$2,524$1,924$1,448$1,077$794$472
26 years$2,401$1,808$1,343$985$715$415
27 years$2,287$1,702$1,247$901$645$364
28 years$2,182$1,604$1,159$826$582$320
29 years$2,084$1,513$1,079$757$525$281
30 years$1,993$1,429$1,005$695$475$248
31 years$1,908$1,351$937$638$429$218
32 years$1,828$1,278$874$587$388$192
33 years$1,753$1,210$816$539$351$169
34 years$1,683$1,147$762$496$318$149
35 years$1,617$1,088$713$457$288$131
36 years$1,555$1,033$667$421$261$116
37 years$1,496$981$624$388$237$102
38 years$1,441$932$584$357$214$90
39 years$1,388$886$548$330$194$79
40 years$1,338$843$513$304$176$70
41 years$1,291$803$481$280$160$62
42 years$1,246$764$451$259$145$54
43 years$1,204$728$424$239$132$48
44 years$1,163$694$398$221$120$42
45 years$1,125$662$373$204$109$37
46 years$1,088$632$351$188$99$33
47 years$1,052$603$329$174$90$29
48 years$1,019$575$310$161$81$26
49 years$987$549$291$148$74$23
50 years$956$525$274$137$67$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $979,000, adding $3,362 every year, while hoping to spend $20,396 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: 80/9/11 Blend
53$979,000$979,000$979,000$979,000
54$1,082,326$1,030,439$1,015,264$1,166,572
55$1,171,022$1,059,229$1,027,575$1,251,141
56$1,268,081$1,088,747$1,039,614$1,340,925
57$1,374,336$1,119,005$1,051,351$1,438,854
58$1,490,701$1,150,019$1,062,754$1,545,731
59$1,618,185$1,181,803$1,073,789$1,662,443
60$1,757,898$1,214,370$1,084,419$1,789,967
61$1,911,064$1,247,734$1,094,608$1,929,378
62$2,079,030$1,281,910$1,104,314$2,081,860
63$2,263,279$1,316,912$1,113,496$2,248,719
64$2,465,445$1,352,752$1,122,110$2,431,390
65$2,687,328$1,389,445$1,130,108$2,631,457
66$2,930,911$1,427,003$1,137,443$2,850,663
67$3,198,378$1,465,441$1,144,061$3,090,929
68$3,492,135$1,504,770$1,149,910$3,354,373
69$3,814,833$1,545,003$1,154,931$3,643,323
70$4,169,390$1,586,152$1,159,065$3,960,350
71$4,559,023$1,628,229$1,162,250$4,308,283
72$4,987,276$1,671,245$1,164,418$4,690,240
73$5,458,053$1,715,211$1,165,501$5,109,654
74$5,975,655$1,760,136$1,165,425$5,570,312
75$6,544,819$1,806,030$1,164,114$6,076,381
76$7,170,767$1,852,903$1,161,489$6,632,458
77$7,859,251$1,900,760$1,157,464$7,243,604
78$8,616,607$1,949,611$1,151,952$7,915,396
79$9,449,819$1,999,460$1,144,861$8,653,981
80$10,366,580$2,050,312$1,136,092$9,466,130
81$11,375,366$2,102,172$1,125,546$10,359,306
82$12,485,517$2,155,042$1,113,116$11,341,731
83$13,707,324$2,208,924$1,098,689$12,422,464
84$15,052,126$2,263,816$1,082,151$13,611,491
85$16,532,418$2,319,718$1,063,378$14,919,810
86$18,161,967$2,376,626$1,042,243$16,359,545
87$19,955,941$2,434,534$1,018,612$17,944,054
88$21,931,056$2,493,436$992,345$19,688,056
89$24,105,731$2,553,322$963,295$21,607,772
90$26,500,261$2,614,180$931,311$23,721,074
91$29,137,009$2,675,995$896,231$26,047,661
92$32,040,617$2,738,752$857,888$28,609,235
93$35,238,240$2,802,431$816,107$31,429,714
94$38,759,798$2,867,008$770,705$34,535,454
95$42,638,265$2,932,459$721,490$37,955,500
96$46,909,971$2,998,753$668,263$41,721,856
97$51,614,953$3,065,857$610,816$45,869,792
98$56,797,329$3,133,734$548,929$50,438,173
99$62,505,713$3,202,344$482,374$55,469,828
100$68,793,677$3,271,640$410,915$61,011,955