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%20%
1 years$81,010$80,288$79,584$78,897$78,226$75,093
2 years$40,104$39,357$38,633$37,931$37,251$34,133
3 years$26,470$25,720$24,998$24,303$23,633$20,630
4 years$19,655$18,907$18,192$17,509$16,855$13,989
5 years$15,567$14,823$14,118$13,449$12,813$10,091
6 years$12,842$12,104$11,409$10,755$10,139$7,562
7 years$10,897$10,165$9,481$8,842$8,245$5,814
8 years$9,438$8,714$8,041$7,418$6,840$4,551
9 years$8,305$7,587$6,926$6,318$5,761$3,610
10 years$7,398$6,687$6,038$5,446$4,908$2,893
11 years$6,657$5,953$5,316$4,740$4,221$2,336
12 years$6,040$5,343$4,718$4,157$3,658$1,897
13 years$5,518$4,829$4,215$3,670$3,190$1,548
14 years$5,071$4,389$3,787$3,258$2,796$1,269
15 years$4,684$4,010$3,419$2,906$2,462$1,042
16 years$4,346$3,679$3,100$2,602$2,176$859
17 years$4,048$3,388$2,821$2,338$1,929$709
18 years$3,783$3,131$2,575$2,107$1,716$586
19 years$3,547$2,902$2,357$1,904$1,529$485
20 years$3,334$2,696$2,163$1,724$1,366$402
21 years$3,142$2,511$1,990$1,565$1,222$334
22 years$2,968$2,344$1,834$1,423$1,096$277
23 years$2,808$2,193$1,693$1,296$983$230
24 years$2,663$2,054$1,566$1,182$884$191
25 years$2,529$1,928$1,451$1,079$795$159
26 years$2,406$1,812$1,345$987$716$132
27 years$2,292$1,705$1,249$903$646$110
28 years$2,186$1,607$1,161$828$583$92
29 years$2,088$1,516$1,081$759$526$76
30 years$1,997$1,432$1,007$696$476$64
31 years$1,912$1,353$938$640$430$53
32 years$1,832$1,280$876$588$389$44
33 years$1,757$1,213$818$541$352$37
34 years$1,687$1,149$764$497$319$31
35 years$1,620$1,090$714$458$289$25
36 years$1,558$1,035$668$422$262$21
37 years$1,499$983$625$389$237$18
38 years$1,444$934$586$358$215$15
39 years$1,391$888$549$330$195$12
40 years$1,341$845$514$305$177$10
41 years$1,294$804$482$281$160$9
42 years$1,249$766$452$259$146$7
43 years$1,206$730$424$239$132$6
44 years$1,166$696$398$221$120$5
45 years$1,127$663$374$204$109$4
46 years$1,090$633$351$189$99$3
47 years$1,055$604$330$174$90$3
48 years$1,021$577$310$161$81$2
49 years$989$551$292$149$74$2
50 years$958$526$274$138$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $981,000, adding $6,166 every year, while hoping to spend $25,605 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: 40/38/22 Blend
53$981,000$981,000$981,000$981,000
54$1,087,422$1,035,429$1,020,224$1,123,622
55$1,171,096$1,058,922$1,027,158$1,173,691
56$1,262,446$1,082,707$1,033,466$1,224,931
57$1,362,228$1,106,773$1,039,100$1,279,848
58$1,471,276$1,131,105$1,044,010$1,338,793
59$1,590,504$1,155,687$1,048,142$1,402,150
60$1,720,922$1,180,502$1,051,442$1,470,345
61$1,863,641$1,205,532$1,053,850$1,543,847
62$2,019,883$1,230,754$1,055,304$1,623,173
63$2,190,996$1,256,145$1,055,742$1,708,891
64$2,378,462$1,281,681$1,055,094$1,801,632
65$2,583,915$1,307,334$1,053,290$1,902,087
66$2,809,155$1,333,073$1,050,255$2,011,021
67$3,056,161$1,358,867$1,045,912$2,129,276
68$3,327,118$1,384,679$1,040,177$2,257,783
69$3,624,427$1,410,472$1,032,967$2,397,564
70$3,950,738$1,436,204$1,024,190$2,549,752
71$4,308,965$1,461,830$1,013,753$2,715,592
72$4,702,322$1,487,302$1,001,556$2,896,459
73$5,134,348$1,512,569$987,497$3,093,868
74$5,608,941$1,537,574$971,467$3,309,491
75$6,130,394$1,562,257$953,353$3,545,172
76$6,703,441$1,586,554$933,037$3,802,943
77$7,333,292$1,610,395$910,394$4,085,047
78$8,025,691$1,633,707$885,295$4,393,955
79$8,786,962$1,656,410$857,603$4,732,395
80$9,624,077$1,678,418$827,178$5,103,371
81$10,544,714$1,699,642$793,869$5,510,199
82$11,557,334$1,719,984$757,523$5,956,535
83$12,671,259$1,739,340$717,977$6,446,409
84$13,896,758$1,757,599$675,060$6,984,266
85$15,245,150$1,774,643$628,597$7,575,008
86$16,728,901$1,790,346$578,401$8,224,037
87$18,361,750$1,804,575$524,279$8,937,313
88$20,158,835$1,817,185$466,028$9,721,405
89$22,136,834$1,828,025$403,438$10,583,557
90$24,314,126$1,836,933$336,288$11,531,755
91$26,710,961$1,843,737$264,348$12,574,804
92$29,349,652$1,848,253$187,376$13,722,413
93$32,254,785$1,850,287$105,123$14,985,285
94$35,453,454$1,849,631$17,325$16,375,221
95$38,975,510$1,846,067$0$17,905,229
96$42,853,849$1,839,361$0$19,607,580
97$47,124,718$1,829,266$0$21,485,664
98$51,828,058$1,815,519$0$23,552,910
99$57,007,883$1,797,842$0$25,828,607
100$62,712,691$1,775,940$0$28,334,016