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%16.3%
1 years$81,093$80,370$79,666$78,978$78,306$76,289
2 years$40,145$39,397$38,673$37,970$37,289$35,270
3 years$26,497$25,747$25,024$24,328$23,657$21,700
4 years$19,675$18,926$18,211$17,527$16,873$14,992
5 years$15,583$14,839$14,132$13,462$12,826$11,028
6 years$12,855$12,117$11,421$10,766$10,149$8,434
7 years$10,908$10,176$9,491$8,851$8,254$6,622
8 years$9,448$8,722$8,049$7,425$6,847$5,299
9 years$8,313$7,594$6,933$6,325$5,767$4,299
10 years$7,406$6,694$6,044$5,452$4,913$3,526
11 years$6,664$5,959$5,321$4,745$4,226$2,916
12 years$6,046$5,349$4,722$4,162$3,662$2,427
13 years$5,524$4,834$4,219$3,674$3,193$2,032
14 years$5,077$4,394$3,791$3,262$2,799$1,708
15 years$4,689$4,014$3,423$2,909$2,465$1,441
16 years$4,351$3,683$3,103$2,604$2,178$1,219
17 years$4,052$3,392$2,824$2,340$1,931$1,034
18 years$3,787$3,134$2,578$2,109$1,717$879
19 years$3,550$2,904$2,360$1,906$1,531$748
20 years$3,338$2,699$2,166$1,726$1,367$638
21 years$3,145$2,514$1,992$1,566$1,223$545
22 years$2,971$2,347$1,836$1,424$1,097$465
23 years$2,811$2,195$1,695$1,297$984$398
24 years$2,666$2,056$1,568$1,183$885$341
25 years$2,532$1,930$1,452$1,080$796$292
26 years$2,408$1,814$1,347$988$717$250
27 years$2,294$1,707$1,251$904$647$214
28 years$2,189$1,608$1,163$828$583$184
29 years$2,090$1,517$1,082$760$527$158
30 years$1,999$1,433$1,008$697$476$136
31 years$1,913$1,355$939$640$430$116
32 years$1,834$1,282$877$588$389$100
33 years$1,759$1,214$818$541$352$86
34 years$1,688$1,150$765$498$319$74
35 years$1,622$1,091$715$458$289$63
36 years$1,560$1,036$669$422$262$54
37 years$1,501$984$626$389$237$47
38 years$1,445$935$586$358$215$40
39 years$1,392$889$549$331$195$35
40 years$1,343$846$515$305$177$30
41 years$1,295$805$483$281$161$26
42 years$1,250$767$453$260$146$22
43 years$1,207$731$425$240$132$19
44 years$1,167$696$399$221$120$16
45 years$1,128$664$374$204$109$14
46 years$1,091$633$352$189$99$12
47 years$1,056$605$330$174$90$10
48 years$1,022$577$311$161$82$9
49 years$990$551$292$149$74$8
50 years$959$526$274$138$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $982,000, adding $6,544 every year, while hoping to spend $52,542 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: 30/42/28 Blend
53$982,000$982,000$982,000$982,000
54$1,088,914$1,036,868$1,021,647$1,112,054
55$1,144,079$1,031,770$999,968$1,125,566
56$1,203,110$1,024,662$975,802$1,135,063
57$1,266,345$1,015,389$949,009$1,144,240
58$1,334,157$1,003,787$919,446$1,153,106
59$1,406,953$989,685$886,959$1,161,675
60$1,485,181$972,898$851,391$1,169,969
61$1,569,331$953,232$812,574$1,178,016
62$1,659,944$930,481$770,336$1,185,855
63$1,757,611$904,427$724,495$1,193,532
64$1,862,983$874,840$674,862$1,201,106
65$1,976,775$841,475$621,238$1,208,649
66$2,099,773$804,074$563,416$1,216,247
67$2,232,840$762,363$501,180$1,224,002
68$2,376,924$716,054$434,304$1,232,036
69$2,533,070$664,840$362,553$1,240,490
70$2,702,424$608,398$285,679$1,249,530
71$2,886,248$546,386$203,426$1,259,349
72$3,085,929$478,443$115,525$1,270,167
73$3,302,995$404,188$21,696$1,282,242
74$3,539,123$323,216$0$1,295,866
75$3,796,163$235,103$0$1,334,807
76$4,076,145$139,397$0$1,384,454
77$4,381,309$35,624$0$1,438,848
78$4,714,115$0$0$1,498,581
79$5,077,274$0$0$1,599,771
80$5,473,768$0$0$1,728,370
81$5,906,880$0$0$1,868,998
82$6,380,226$0$0$2,022,846
83$6,897,785$0$0$2,191,227
84$7,463,938$0$0$2,375,588
85$8,083,510$0$0$2,577,521
86$8,761,813$0$0$2,798,779
87$9,504,698$0$0$3,041,294
88$10,318,605$0$0$3,307,191
89$11,210,631$0$0$3,598,815
90$12,188,589$0$0$3,918,744
91$13,261,084$0$0$4,269,820
92$14,437,595$0$0$4,655,175
93$15,728,563$0$0$5,078,255
94$17,145,487$0$0$5,542,860
95$18,701,035$0$0$6,053,172
96$20,409,159$0$0$6,613,803
97$22,285,232$0$0$7,229,828
98$24,346,186$0$0$7,906,843
99$26,610,675$0$0$8,651,010
100$29,099,249$0$0$9,469,118