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%18.1%
1 years$80,927$80,207$79,503$78,817$78,147$75,585
2 years$40,063$39,317$38,594$37,893$37,213$34,656
3 years$26,443$25,694$24,973$24,278$23,609$21,138
4 years$19,635$18,888$18,174$17,491$16,838$14,472
5 years$15,551$14,808$14,104$13,435$12,800$10,544
6 years$12,829$12,092$11,398$10,744$10,128$7,985
7 years$10,886$10,155$9,472$8,833$8,237$6,206
8 years$9,429$8,705$8,033$7,410$6,833$4,913
9 years$8,296$7,579$6,919$6,312$5,755$3,943
10 years$7,391$6,680$6,032$5,441$4,903$3,198
11 years$6,650$5,947$5,310$4,735$4,217$2,614
12 years$6,034$5,338$4,713$4,153$3,654$2,150
13 years$5,513$4,824$4,211$3,667$3,187$1,778
14 years$5,066$4,385$3,783$3,255$2,793$1,476
15 years$4,680$4,006$3,416$2,903$2,460$1,230
16 years$4,342$3,675$3,097$2,599$2,174$1,027
17 years$4,044$3,385$2,818$2,335$1,927$860
18 years$3,779$3,128$2,572$2,105$1,714$721
19 years$3,543$2,899$2,355$1,902$1,528$606
20 years$3,331$2,693$2,161$1,722$1,364$509
21 years$3,139$2,509$1,988$1,563$1,221$429
22 years$2,964$2,342$1,832$1,421$1,094$361
23 years$2,806$2,190$1,692$1,294$982$305
24 years$2,660$2,052$1,565$1,181$883$257
25 years$2,527$1,926$1,449$1,078$795$217
26 years$2,403$1,810$1,344$986$716$183
27 years$2,290$1,703$1,248$902$645$155
28 years$2,184$1,605$1,160$827$582$131
29 years$2,086$1,514$1,080$758$526$111
30 years$1,995$1,430$1,006$696$475$94
31 years$1,910$1,352$938$639$430$79
32 years$1,830$1,279$875$587$389$67
33 years$1,755$1,211$817$540$352$57
34 years$1,685$1,148$763$497$318$48
35 years$1,619$1,089$713$457$288$41
36 years$1,556$1,034$667$421$261$34
37 years$1,498$982$625$388$237$29
38 years$1,442$933$585$358$215$25
39 years$1,390$887$548$330$195$21
40 years$1,340$844$514$304$177$18
41 years$1,293$803$482$281$160$15
42 years$1,248$765$452$259$145$13
43 years$1,205$729$424$239$132$11
44 years$1,164$695$398$221$120$9
45 years$1,126$663$374$204$109$8
46 years$1,089$632$351$188$99$6
47 years$1,054$603$330$174$90$6
48 years$1,020$576$310$161$81$5
49 years$988$550$291$149$74$4
50 years$957$525$274$137$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $980,000, adding $2,334 every year, while hoping to spend $32,839 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: 67/22/11 Blend
53$980,000$980,000$980,000$980,000
54$1,082,368$1,030,428$1,015,238$1,152,175
55$1,157,829$1,045,978$1,014,308$1,214,467
56$1,239,886$1,061,190$1,012,246$1,278,420
57$1,329,178$1,076,012$1,008,980$1,347,492
58$1,426,407$1,090,389$1,004,433$1,422,177
59$1,532,345$1,104,263$998,526$1,503,026
60$1,647,843$1,117,570$991,175$1,590,641
61$1,773,836$1,130,245$982,293$1,685,689
62$1,911,355$1,142,214$971,788$1,788,903
63$2,061,533$1,153,403$959,563$1,901,091
64$2,225,620$1,163,729$945,518$2,023,145
65$2,404,987$1,173,107$929,547$2,156,049
66$2,601,150$1,181,443$911,541$2,300,884
67$2,815,773$1,188,639$891,383$2,458,846
68$3,050,690$1,194,591$868,953$2,631,251
69$3,307,923$1,199,188$844,125$2,819,551
70$3,589,693$1,202,311$816,766$3,025,344
71$3,898,452$1,203,834$786,737$3,250,396
72$4,236,896$1,203,624$753,895$3,496,651
73$4,607,997$1,201,539$718,088$3,766,252
74$5,015,027$1,197,428$679,158$4,061,563
75$5,461,590$1,191,132$636,940$4,385,190
76$5,951,655$1,182,481$591,261$4,740,005
77$6,489,596$1,171,295$541,941$5,129,175
78$7,080,230$1,157,384$488,791$5,556,191
79$7,728,862$1,140,544$431,614$6,024,902
80$8,441,338$1,120,563$370,205$6,539,550
81$9,224,097$1,097,212$304,349$7,104,814
82$10,084,232$1,070,253$233,821$7,725,851
83$11,029,558$1,039,429$158,389$8,408,344
84$12,068,684$1,004,473$77,806$9,158,561
85$13,211,095$965,098$0$9,983,411
86$14,467,242$921,002$0$10,891,470
87$15,848,637$871,868$0$11,899,982
88$17,367,965$817,357$0$13,009,090
89$19,039,202$757,111$0$14,229,033
90$20,877,746$690,755$0$15,571,092
91$22,900,562$617,888$0$17,047,702
92$25,126,344$538,089$0$18,672,566
93$27,575,688$450,913$0$20,460,789
94$30,271,289$355,888$0$22,429,019
95$33,238,152$252,518$0$24,595,603
96$36,503,829$140,278$0$26,980,763
97$40,098,681$18,612$0$29,606,786
98$44,056,158$0$0$32,498,236
99$48,413,121$0$0$35,709,558
100$53,210,186$0$0$39,250,296