Can I retire at age 54 with 982,000?

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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$81,093$80,370$79,666$78,978$78,306$76,475
2 years$40,145$39,397$38,673$37,970$37,289$35,454
3 years$26,497$25,747$25,024$24,328$23,657$21,877
4 years$19,675$18,926$18,211$17,527$16,873$15,160
5 years$15,583$14,839$14,132$13,462$12,826$11,186
6 years$12,855$12,117$11,421$10,766$10,149$8,583
7 years$10,908$10,176$9,491$8,851$8,254$6,763
8 years$9,448$8,722$8,049$7,425$6,847$5,430
9 years$8,313$7,594$6,933$6,325$5,767$4,422
10 years$7,406$6,694$6,044$5,452$4,913$3,640
11 years$6,664$5,959$5,321$4,745$4,226$3,022
12 years$6,046$5,349$4,722$4,162$3,662$2,525
13 years$5,524$4,834$4,219$3,674$3,193$2,122
14 years$5,077$4,394$3,791$3,262$2,799$1,791
15 years$4,689$4,014$3,423$2,909$2,465$1,517
16 years$4,351$3,683$3,103$2,604$2,178$1,289
17 years$4,052$3,392$2,824$2,340$1,931$1,098
18 years$3,787$3,134$2,578$2,109$1,717$938
19 years$3,550$2,904$2,360$1,906$1,531$802
20 years$3,338$2,699$2,166$1,726$1,367$687
21 years$3,145$2,514$1,992$1,566$1,223$589
22 years$2,971$2,347$1,836$1,424$1,097$506
23 years$2,811$2,195$1,695$1,297$984$435
24 years$2,666$2,056$1,568$1,183$885$374
25 years$2,532$1,930$1,452$1,080$796$322
26 years$2,408$1,814$1,347$988$717$277
27 years$2,294$1,707$1,251$904$647$239
28 years$2,189$1,608$1,163$828$583$206
29 years$2,090$1,517$1,082$760$527$177
30 years$1,999$1,433$1,008$697$476$153
31 years$1,913$1,355$939$640$430$132
32 years$1,834$1,282$877$588$389$114
33 years$1,759$1,214$818$541$352$98
34 years$1,688$1,150$765$498$319$85
35 years$1,622$1,091$715$458$289$73
36 years$1,560$1,036$669$422$262$63
37 years$1,501$984$626$389$237$55
38 years$1,445$935$586$358$215$47
39 years$1,392$889$549$331$195$41
40 years$1,343$846$515$305$177$35
41 years$1,295$805$483$281$161$30
42 years$1,250$767$453$260$146$26
43 years$1,207$731$425$240$132$23
44 years$1,167$696$399$221$120$20
45 years$1,128$664$374$204$109$17
46 years$1,091$633$352$189$99$15
47 years$1,056$605$330$174$90$13
48 years$1,022$577$311$161$82$11
49 years$990$551$292$149$74$9
50 years$959$526$274$138$67$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $982,000, adding $2,809 every year, while hoping to spend $59,932 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: 32/38/30 Blend
53$982,000$982,000$982,000$982,000
54$1,085,061$1,033,015$1,017,794$1,109,806
55$1,131,971$1,019,866$988,123$1,115,994
56$1,181,656$1,004,064$955,450$1,117,209
57$1,234,337$985,415$919,609$1,117,367
58$1,290,254$963,715$880,431$1,116,420
59$1,349,671$938,748$837,736$1,114,318
60$1,412,873$910,283$791,337$1,111,012
61$1,480,177$878,078$741,038$1,106,457
62$1,551,927$841,875$686,634$1,100,608
63$1,628,499$801,403$627,912$1,093,424
64$1,710,308$756,373$564,648$1,084,866
65$1,797,805$706,481$496,610$1,074,900
66$1,891,488$651,406$423,553$1,063,499
67$1,991,901$590,806$345,224$1,050,640
68$2,099,643$524,323$261,356$1,036,308
69$2,215,367$451,576$171,673$1,020,497
70$2,339,795$372,163$75,884$1,003,210
71$2,473,716$285,661$0$984,465
72$2,617,998$191,621$0$972,722
73$2,773,593$89,570$0$986,064
74$2,941,549$0$0$1,000,347
75$3,123,015$0$0$1,024,541
76$3,319,255$0$0$1,091,325
77$3,531,659$0$0$1,163,734
78$3,761,755$0$0$1,242,302
79$4,011,221$0$0$1,327,620
80$4,281,905$0$0$1,420,337
81$4,575,836$0$0$1,521,165
82$4,895,250$0$0$1,630,891
83$5,242,603$0$0$1,750,377
84$5,620,600$0$0$1,880,575
85$6,032,214$0$0$2,022,531
86$6,480,720$0$0$2,177,395
87$6,969,720$0$0$2,346,435
88$7,503,179$0$0$2,531,046
89$8,085,461$0$0$2,732,763
90$8,721,371$0$0$2,953,277
91$9,416,195$0$0$3,194,450
92$10,175,756$0$0$3,458,330
93$11,006,465$0$0$3,747,175
94$11,915,379$0$0$4,063,469
95$12,910,269$0$0$4,409,948
96$13,999,693$0$0$4,789,627
97$15,193,074$0$0$5,205,823
98$16,500,791$0$0$5,662,193
99$17,934,272$0$0$6,162,761
100$19,506,106$0$0$6,711,963