Can I retire at age 54 with 981,000?

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 $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%16.8%
1 years$81,010$80,288$79,584$78,897$78,226$76,058
2 years$40,104$39,357$38,633$37,931$37,251$35,082
3 years$26,470$25,720$24,998$24,303$23,633$21,533
4 years$19,655$18,907$18,192$17,509$16,855$14,839
5 years$15,567$14,823$14,118$13,449$12,813$10,886
6 years$12,842$12,104$11,409$10,755$10,139$8,303
7 years$10,897$10,165$9,481$8,842$8,245$6,501
8 years$9,438$8,714$8,041$7,418$6,840$5,186
9 years$8,305$7,587$6,926$6,318$5,761$4,195
10 years$7,398$6,687$6,038$5,446$4,908$3,430
11 years$6,657$5,953$5,316$4,740$4,221$2,827
12 years$6,040$5,343$4,718$4,157$3,658$2,346
13 years$5,518$4,829$4,215$3,670$3,190$1,957
14 years$5,071$4,389$3,787$3,258$2,796$1,639
15 years$4,684$4,010$3,419$2,906$2,462$1,378
16 years$4,346$3,679$3,100$2,602$2,176$1,162
17 years$4,048$3,388$2,821$2,338$1,929$982
18 years$3,783$3,131$2,575$2,107$1,716$831
19 years$3,547$2,902$2,357$1,904$1,529$705
20 years$3,334$2,696$2,163$1,724$1,366$599
21 years$3,142$2,511$1,990$1,565$1,222$509
22 years$2,968$2,344$1,834$1,423$1,096$434
23 years$2,808$2,193$1,693$1,296$983$370
24 years$2,663$2,054$1,566$1,182$884$315
25 years$2,529$1,928$1,451$1,079$795$269
26 years$2,406$1,812$1,345$987$716$229
27 years$2,292$1,705$1,249$903$646$196
28 years$2,186$1,607$1,161$828$583$167
29 years$2,088$1,516$1,081$759$526$143
30 years$1,997$1,432$1,007$696$476$122
31 years$1,912$1,353$938$640$430$105
32 years$1,832$1,280$876$588$389$89
33 years$1,757$1,213$818$541$352$76
34 years$1,687$1,149$764$497$319$65
35 years$1,620$1,090$714$458$289$56
36 years$1,558$1,035$668$422$262$48
37 years$1,499$983$625$389$237$41
38 years$1,444$934$586$358$215$35
39 years$1,391$888$549$330$195$30
40 years$1,341$845$514$305$177$26
41 years$1,294$804$482$281$160$22
42 years$1,249$766$452$259$146$19
43 years$1,206$730$424$239$132$16
44 years$1,166$696$398$221$120$14
45 years$1,127$663$374$204$109$12
46 years$1,090$633$351$189$99$10
47 years$1,055$604$330$174$90$9
48 years$1,021$577$310$161$81$7
49 years$989$551$292$149$74$6
50 years$958$526$274$138$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $981,000, adding $4,920 every year, while hoping to spend $51,855 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: 52/24/24 Blend
53$981,000$981,000$981,000$981,000
54$1,086,137$1,034,144$1,018,938$1,135,124
55$1,141,750$1,029,644$997,900$1,165,029
56$1,201,297$1,023,185$974,418$1,191,828
57$1,265,125$1,014,617$948,357$1,219,914
58$1,333,615$1,003,780$919,574$1,249,428
59$1,407,183$990,505$887,919$1,280,531
60$1,486,287$974,611$853,236$1,313,400
61$1,571,431$955,910$815,362$1,348,236
62$1,663,166$934,198$774,126$1,385,262
63$1,762,099$909,264$729,348$1,424,727
64$1,868,895$880,880$680,844$1,466,911
65$1,984,287$848,808$628,417$1,512,124
66$2,109,079$812,794$571,864$1,560,714
67$2,244,156$772,571$510,971$1,613,066
68$2,390,488$727,856$445,518$1,669,611
69$2,549,146$678,349$375,270$1,730,829
70$2,721,303$623,733$299,987$1,797,255
71$2,908,254$563,673$219,413$1,869,480
72$3,111,418$497,816$133,286$1,948,166
73$3,332,361$425,787$41,330$2,034,047
74$3,572,803$347,191$0$2,127,937
75$3,834,636$261,612$0$2,245,289
76$4,119,946$168,607$0$2,384,802
77$4,431,023$67,711$0$2,537,076
78$4,770,392$0$0$2,703,434
79$5,140,829$0$0$2,896,313
80$5,545,393$0$0$3,126,582
81$5,987,449$0$0$3,378,286
82$6,470,701$0$0$3,653,547
83$6,999,230$0$0$3,954,701
84$7,577,528$0$0$4,284,320
85$8,210,539$0$0$4,645,237
86$8,903,711$0$0$5,040,571
87$9,663,041$0$0$5,473,757
88$10,495,134$0$0$5,948,577
89$11,407,264$0$0$6,469,199
90$12,407,443$0$0$7,040,212
91$13,504,493$0$0$7,666,669
92$14,708,135$0$0$8,354,137
93$16,029,074$0$0$9,108,750
94$17,479,100$0$0$9,937,262
95$19,071,203$0$0$10,847,113
96$20,819,692$0$0$11,846,502
97$22,740,328$0$0$12,944,457
98$24,850,476$0$0$14,150,926
99$27,169,263$0$0$15,476,868
100$29,717,764$0$0$16,934,356