Can I retire at age 54 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$81,010$80,288$79,584$78,897$78,226$76,804
2 years$40,104$39,357$38,633$37,931$37,251$35,823
3 years$26,470$25,720$24,998$24,303$23,633$22,244
4 years$19,655$18,907$18,192$17,509$16,855$15,516
5 years$15,567$14,823$14,118$13,449$12,813$11,527
6 years$12,842$12,104$11,409$10,755$10,139$8,908
7 years$10,897$10,165$9,481$8,842$8,245$7,070
8 years$9,438$8,714$8,041$7,418$6,840$5,720
9 years$8,305$7,587$6,926$6,318$5,761$4,694
10 years$7,398$6,687$6,038$5,446$4,908$3,895
11 years$6,657$5,953$5,316$4,740$4,221$3,260
12 years$6,040$5,343$4,718$4,157$3,658$2,748
13 years$5,518$4,829$4,215$3,670$3,190$2,329
14 years$5,071$4,389$3,787$3,258$2,796$1,983
15 years$4,684$4,010$3,419$2,906$2,462$1,696
16 years$4,346$3,679$3,100$2,602$2,176$1,454
17 years$4,048$3,388$2,821$2,338$1,929$1,250
18 years$3,783$3,131$2,575$2,107$1,716$1,078
19 years$3,547$2,902$2,357$1,904$1,529$931
20 years$3,334$2,696$2,163$1,724$1,366$805
21 years$3,142$2,511$1,990$1,565$1,222$697
22 years$2,968$2,344$1,834$1,423$1,096$605
23 years$2,808$2,193$1,693$1,296$983$525
24 years$2,663$2,054$1,566$1,182$884$456
25 years$2,529$1,928$1,451$1,079$795$397
26 years$2,406$1,812$1,345$987$716$345
27 years$2,292$1,705$1,249$903$646$301
28 years$2,186$1,607$1,161$828$583$262
29 years$2,088$1,516$1,081$759$526$228
30 years$1,997$1,432$1,007$696$476$199
31 years$1,912$1,353$938$640$430$174
32 years$1,832$1,280$876$588$389$151
33 years$1,757$1,213$818$541$352$132
34 years$1,687$1,149$764$497$319$115
35 years$1,620$1,090$714$458$289$101
36 years$1,558$1,035$668$422$262$88
37 years$1,499$983$625$389$237$77
38 years$1,444$934$586$358$215$67
39 years$1,391$888$549$330$195$59
40 years$1,341$845$514$305$177$51
41 years$1,294$804$482$281$160$45
42 years$1,249$766$452$259$146$39
43 years$1,206$730$424$239$132$34
44 years$1,166$696$398$221$120$30
45 years$1,127$663$374$204$109$26
46 years$1,090$633$351$189$99$23
47 years$1,055$604$330$174$90$20
48 years$1,021$577$310$161$81$17
49 years$989$551$292$149$74$15
50 years$958$526$274$138$67$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $981,000, adding $3,195 every year, while hoping to spend $50,700 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: 44/39/17 Blend
53$981,000$981,000$981,000$981,000
54$1,084,358$1,032,365$1,017,159$1,126,614
55$1,141,018$1,029,006$997,290$1,153,211
56$1,201,758$1,023,784$975,055$1,176,738
57$1,266,941$1,016,553$950,323$1,201,163
58$1,336,964$1,007,159$922,954$1,226,590
59$1,412,265$995,441$892,804$1,253,141
60$1,493,323$981,224$859,720$1,280,949
61$1,580,665$964,327$823,543$1,310,169
62$1,674,869$944,555$784,108$1,340,972
63$1,776,570$921,703$741,240$1,373,551
64$1,886,467$895,553$694,758$1,408,125
65$2,005,327$865,876$644,473$1,444,938
66$2,133,994$832,427$590,187$1,484,265
67$2,273,394$794,949$531,691$1,526,415
68$2,424,548$753,170$468,771$1,571,731
69$2,588,577$706,800$401,199$1,620,600
70$2,766,714$655,535$328,741$1,673,454
71$2,960,314$599,052$251,150$1,730,775
72$3,170,871$537,010$168,168$1,793,103
73$3,400,026$469,049$79,528$1,861,039
74$3,649,585$394,789$0$1,935,255
75$3,921,535$313,827$0$2,019,230
76$4,218,065$225,737$0$2,126,639
77$4,541,582$130,073$0$2,244,022
78$4,894,736$26,359$0$2,372,473
79$5,280,444$0$0$2,513,199
80$5,701,916$0$0$2,704,408
81$6,162,690$0$0$2,925,927
82$6,666,656$0$0$3,168,330
83$7,218,101$0$0$3,433,692
84$7,821,744$0$0$3,724,301
85$8,482,782$0$0$4,042,673
86$9,206,937$0$0$4,391,582
87$10,000,511$0$0$4,774,081
88$10,870,446$0$0$5,193,533
89$11,824,386$0$0$5,653,644
90$12,870,749$0$0$6,158,492
91$14,018,810$0$0$6,712,572
92$15,278,784$0$0$7,320,835
93$16,661,922$0$0$7,988,733
94$18,180,618$0$0$8,722,274
95$19,848,525$0$0$9,528,075
96$21,680,684$0$0$10,413,426
97$23,693,662$0$0$11,386,357
98$25,905,713$0$0$12,455,716
99$28,336,945$0$0$13,631,250
100$31,009,512$0$0$14,923,698