Can I retire at age 54 with 980,000?

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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$80,927$80,207$79,503$78,817$78,147$77,427
2 years$40,063$39,317$38,594$37,893$37,213$36,488
3 years$26,443$25,694$24,973$24,278$23,609$22,901
4 years$19,635$18,888$18,174$17,491$16,838$16,153
5 years$15,551$14,808$14,104$13,435$12,800$12,139
6 years$12,829$12,092$11,398$10,744$10,128$9,493
7 years$10,886$10,155$9,472$8,833$8,237$7,627
8 years$9,429$8,705$8,033$7,410$6,833$6,249
9 years$8,296$7,579$6,919$6,312$5,755$5,196
10 years$7,391$6,680$6,032$5,441$4,903$4,370
11 years$6,650$5,947$5,310$4,735$4,217$3,708
12 years$6,034$5,338$4,713$4,153$3,654$3,170
13 years$5,513$4,824$4,211$3,667$3,187$2,725
14 years$5,066$4,385$3,783$3,255$2,793$2,355
15 years$4,680$4,006$3,416$2,903$2,460$2,044
16 years$4,342$3,675$3,097$2,599$2,174$1,780
17 years$4,044$3,385$2,818$2,335$1,927$1,554
18 years$3,779$3,128$2,572$2,105$1,714$1,361
19 years$3,543$2,899$2,355$1,902$1,528$1,194
20 years$3,331$2,693$2,161$1,722$1,364$1,050
21 years$3,139$2,509$1,988$1,563$1,221$925
22 years$2,964$2,342$1,832$1,421$1,094$815
23 years$2,806$2,190$1,692$1,294$982$720
24 years$2,660$2,052$1,565$1,181$883$636
25 years$2,527$1,926$1,449$1,078$795$563
26 years$2,403$1,810$1,344$986$716$499
27 years$2,290$1,703$1,248$902$645$442
28 years$2,184$1,605$1,160$827$582$392
29 years$2,086$1,514$1,080$758$526$348
30 years$1,995$1,430$1,006$696$475$309
31 years$1,910$1,352$938$639$430$274
32 years$1,830$1,279$875$587$389$244
33 years$1,755$1,211$817$540$352$216
34 years$1,685$1,148$763$497$318$192
35 years$1,619$1,089$713$457$288$171
36 years$1,556$1,034$667$421$261$152
37 years$1,498$982$625$388$237$135
38 years$1,442$933$585$358$215$121
39 years$1,390$887$548$330$195$107
40 years$1,340$844$514$304$177$95
41 years$1,293$803$482$281$160$85
42 years$1,248$765$452$259$145$76
43 years$1,205$729$424$239$132$67
44 years$1,164$695$398$221$120$60
45 years$1,126$663$374$204$109$53
46 years$1,089$632$351$188$99$48
47 years$1,054$603$330$174$90$42
48 years$1,020$576$310$161$81$38
49 years$988$550$291$149$74$34
50 years$957$525$274$137$67$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $980,000, adding $3,512 every year, while hoping to spend $45,003 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: 45/46/9 Blend
53$980,000$980,000$980,000$980,000
54$1,083,583$1,031,643$1,016,453$1,129,444
55$1,146,225$1,034,310$1,002,621$1,164,189
56$1,213,749$1,035,600$986,818$1,196,935
57$1,286,604$1,035,398$968,929$1,231,413
58$1,365,286$1,033,580$948,836$1,267,800
59$1,450,338$1,030,019$926,415$1,306,292
60$1,542,358$1,024,575$901,535$1,347,105
61$1,642,003$1,017,103$874,061$1,390,484
62$1,749,994$1,007,448$843,849$1,436,698
63$1,867,127$995,446$810,751$1,486,048
64$1,994,274$980,923$774,611$1,538,869
65$2,132,396$963,695$735,267$1,595,533
66$2,282,549$943,565$692,548$1,656,454
67$2,445,897$920,328$646,276$1,722,093
68$2,623,718$893,763$596,266$1,792,961
69$2,817,420$863,640$542,323$1,869,625
70$3,028,550$829,712$484,244$1,952,718
71$3,258,815$791,720$421,819$2,042,938
72$3,510,088$749,389$354,824$2,141,064
73$3,784,436$702,428$283,030$2,247,957
74$4,084,132$650,530$206,195$2,364,575
75$4,411,678$593,370$124,066$2,491,978
76$4,769,829$530,605$36,382$2,631,343
77$5,161,618$461,871$0$2,783,973
78$5,590,385$386,786$0$2,956,805
79$6,059,809$304,942$0$3,150,033
80$6,573,939$215,914$0$3,361,962
81$7,137,235$119,248$0$3,594,584
82$7,754,609$14,467$0$3,850,106
83$8,431,470$0$0$4,130,967
84$9,173,777$0$0$4,489,942
85$9,988,092$0$0$4,891,892
86$10,881,642$0$0$5,333,075
87$11,862,389$0$0$5,817,439
88$12,939,104$0$0$6,349,331
89$14,121,446$0$0$6,933,538
90$15,420,057$0$0$7,575,337
91$16,846,661$0$0$8,280,539
92$18,414,172$0$0$9,055,545
93$20,136,817$0$0$9,907,409
94$22,030,271$0$0$10,843,902
95$24,111,801$0$0$11,873,584
96$26,400,431$0$0$13,005,887
97$28,917,123$0$0$14,251,203
98$31,684,969$0$0$15,620,981
99$34,729,412$0$0$17,127,835
100$38,078,483$0$0$18,785,663