Can I retire at age 54 with 983,000?

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 $983,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$81,175$80,452$79,747$79,058$78,386$75,755
2 years$40,186$39,437$38,712$38,009$37,327$34,702
3 years$26,524$25,773$25,049$24,353$23,682$21,146
4 years$19,695$18,946$18,229$17,545$16,890$14,462
5 years$15,599$14,854$14,147$13,476$12,839$10,526
6 years$12,868$12,129$11,433$10,777$10,159$7,963
7 years$10,919$10,186$9,501$8,860$8,262$6,182
8 years$9,458$8,731$8,057$7,433$6,854$4,888
9 years$8,322$7,602$6,940$6,331$5,772$3,918
10 years$7,413$6,701$6,050$5,457$4,918$3,174
11 years$6,671$5,965$5,327$4,750$4,230$2,591
12 years$6,052$5,354$4,727$4,166$3,666$2,129
13 years$5,530$4,839$4,223$3,678$3,196$1,758
14 years$5,082$4,398$3,795$3,265$2,802$1,457
15 years$4,694$4,018$3,426$2,912$2,467$1,212
16 years$4,355$3,686$3,106$2,607$2,180$1,011
17 years$4,056$3,395$2,827$2,342$1,933$845
18 years$3,791$3,137$2,580$2,111$1,719$708
19 years$3,554$2,907$2,362$1,907$1,532$593
20 years$3,341$2,702$2,168$1,728$1,369$498
21 years$3,148$2,517$1,994$1,568$1,225$419
22 years$2,974$2,349$1,838$1,426$1,098$352
23 years$2,814$2,197$1,697$1,298$985$297
24 years$2,668$2,059$1,569$1,184$886$250
25 years$2,534$1,932$1,454$1,081$797$211
26 years$2,411$1,816$1,348$989$718$178
27 years$2,297$1,709$1,252$905$647$150
28 years$2,191$1,610$1,164$829$584$127
29 years$2,093$1,519$1,083$760$527$107
30 years$2,001$1,434$1,009$698$477$90
31 years$1,915$1,356$940$641$431$76
32 years$1,835$1,283$877$589$390$64
33 years$1,760$1,215$819$542$353$54
34 years$1,690$1,152$765$498$319$46
35 years$1,624$1,092$716$459$289$39
36 years$1,561$1,037$669$423$262$33
37 years$1,502$985$627$389$238$28
38 years$1,447$936$587$359$215$23
39 years$1,394$890$550$331$195$20
40 years$1,344$847$515$305$177$17
41 years$1,297$806$483$282$161$14
42 years$1,252$768$453$260$146$12
43 years$1,209$731$425$240$132$10
44 years$1,168$697$399$221$120$9
45 years$1,129$665$375$205$109$7
46 years$1,092$634$352$189$99$6
47 years$1,057$605$331$175$90$5
48 years$1,023$578$311$161$82$4
49 years$991$552$292$149$74$4
50 years$960$527$275$138$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $983,000, adding $3,501 every year, while hoping to spend $58,167 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: 27/48/25 Blend
53$983,000$983,000$983,000$983,000
54$1,086,877$1,034,778$1,019,542$1,107,630
55$1,135,850$1,023,593$991,807$1,113,297
56$1,187,867$1,009,910$961,194$1,114,091
57$1,243,180$993,546$927,544$1,113,734
58$1,302,061$974,306$890,693$1,112,168
59$1,364,807$951,984$850,468$1,109,331
60$1,431,747$926,360$806,688$1,105,166
61$1,503,238$897,205$759,165$1,099,614
62$1,579,673$864,273$707,702$1,092,617
63$1,661,483$827,305$652,092$1,084,120
64$1,749,138$786,027$592,121$1,074,071
65$1,843,157$740,149$527,564$1,062,418
66$1,944,107$689,364$458,186$1,049,116
67$2,052,612$633,350$383,741$1,034,124
68$2,169,356$571,761$303,975$1,017,408
69$2,295,091$504,238$218,618$998,939
70$2,430,641$430,396$127,392$978,698
71$2,576,913$349,832$30,006$956,677
72$2,734,902$262,118$0$932,877
73$2,905,703$166,803$0$927,035
74$3,090,519$63,411$0$929,287
75$3,290,672$0$0$931,761
76$3,507,616$0$0$960,271
77$3,742,949$0$0$1,027,665
78$3,998,428$0$0$1,100,971
79$4,275,988$0$0$1,180,761
80$4,577,755$0$0$1,267,666
81$4,906,070$0$0$1,362,379
82$5,263,506$0$0$1,465,664
83$5,652,897$0$0$1,578,359
84$6,077,359$0$0$1,701,390
85$6,540,325$0$0$1,835,775
86$7,045,570$0$0$1,982,633
87$7,597,251$0$0$2,143,199
88$8,199,945$0$0$2,318,829
89$8,858,687$0$0$2,511,021
90$9,579,026$0$0$2,721,419
91$10,367,067$0$0$2,951,838
92$11,229,533$0$0$3,204,274
93$12,173,830$0$0$3,480,926
94$13,208,110$0$0$3,784,215
95$14,341,352$0$0$4,116,809
96$15,583,443$0$0$4,481,647
97$16,945,276$0$0$4,881,962
98$18,438,843$0$0$5,321,320
99$20,077,356$0$0$5,803,647
100$21,875,367$0$0$6,333,266