Can I retire at age 54 with 983,000?

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 $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%17.4%
1 years$81,175$80,452$79,747$79,058$78,386$76,029
2 years$40,186$39,437$38,712$38,009$37,327$34,972
3 years$26,524$25,773$25,049$24,353$23,682$21,403
4 years$19,695$18,946$18,229$17,545$16,890$14,705
5 years$15,599$14,854$14,147$13,476$12,839$10,754
6 years$12,868$12,129$11,433$10,777$10,159$8,175
7 years$10,919$10,186$9,501$8,860$8,262$6,379
8 years$9,458$8,731$8,057$7,433$6,854$5,071
9 years$8,322$7,602$6,940$6,331$5,772$4,087
10 years$7,413$6,701$6,050$5,457$4,918$3,329
11 years$6,671$5,965$5,327$4,750$4,230$2,734
12 years$6,052$5,354$4,727$4,166$3,666$2,259
13 years$5,530$4,839$4,223$3,678$3,196$1,877
14 years$5,082$4,398$3,795$3,265$2,802$1,566
15 years$4,694$4,018$3,426$2,912$2,467$1,311
16 years$4,355$3,686$3,106$2,607$2,180$1,100
17 years$4,056$3,395$2,827$2,342$1,933$926
18 years$3,791$3,137$2,580$2,111$1,719$781
19 years$3,554$2,907$2,362$1,907$1,532$659
20 years$3,341$2,702$2,168$1,728$1,369$557
21 years$3,148$2,517$1,994$1,568$1,225$472
22 years$2,974$2,349$1,838$1,426$1,098$400
23 years$2,814$2,197$1,697$1,298$985$339
24 years$2,668$2,059$1,569$1,184$886$288
25 years$2,534$1,932$1,454$1,081$797$244
26 years$2,411$1,816$1,348$989$718$207
27 years$2,297$1,709$1,252$905$647$176
28 years$2,191$1,610$1,164$829$584$150
29 years$2,093$1,519$1,083$760$527$127
30 years$2,001$1,434$1,009$698$477$108
31 years$1,915$1,356$940$641$431$92
32 years$1,835$1,283$877$589$390$78
33 years$1,760$1,215$819$542$353$67
34 years$1,690$1,152$765$498$319$57
35 years$1,624$1,092$716$459$289$48
36 years$1,561$1,037$669$423$262$41
37 years$1,502$985$627$389$238$35
38 years$1,447$936$587$359$215$30
39 years$1,394$890$550$331$195$25
40 years$1,344$847$515$305$177$22
41 years$1,297$806$483$282$161$18
42 years$1,252$768$453$260$146$16
43 years$1,209$731$425$240$132$13
44 years$1,168$697$399$221$120$11
45 years$1,129$665$375$205$109$10
46 years$1,092$634$352$189$99$8
47 years$1,057$605$331$175$90$7
48 years$1,023$578$311$161$82$6
49 years$991$552$292$149$74$5
50 years$960$527$275$138$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $983,000, adding $2,571 every year, while hoping to spend $36,961 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: 76/14/10 Blend
53$983,000$983,000$983,000$983,000
54$1,085,918$1,033,819$1,018,582$1,166,343
55$1,157,355$1,045,150$1,013,379$1,230,982
56$1,234,841$1,055,797$1,006,762$1,296,866
57$1,318,952$1,065,689$998,646$1,368,036
58$1,410,324$1,074,746$988,940$1,445,005
59$1,509,656$1,082,889$977,549$1,528,336
60$1,617,719$1,090,027$964,374$1,618,650
61$1,735,357$1,096,069$949,311$1,716,632
62$1,863,501$1,100,915$932,251$1,823,035
63$2,003,178$1,104,459$913,081$1,938,691
64$2,155,514$1,106,590$891,681$2,064,516
65$2,321,750$1,107,187$867,926$2,201,519
66$2,503,254$1,106,124$841,687$2,350,812
67$2,701,528$1,103,266$812,826$2,513,621
68$2,918,229$1,098,471$781,201$2,691,297
69$3,155,180$1,091,588$746,662$2,885,330
70$3,414,387$1,082,454$709,054$3,097,361
71$3,698,061$1,070,901$668,214$3,329,199
72$4,008,635$1,056,747$623,971$3,582,838
73$4,348,788$1,039,800$576,146$3,860,476
74$4,721,473$1,019,858$524,555$4,164,536
75$5,129,938$996,706$469,003$4,497,688
76$5,577,763$970,116$409,286$4,862,876
77$6,068,890$939,848$345,192$5,263,344
78$6,607,661$905,645$276,501$5,702,669
79$7,198,859$867,238$202,980$6,184,792
80$7,847,752$824,341$124,389$6,714,059
81$8,560,141$776,653$40,475$7,295,259
82$9,342,420$723,853$0$7,933,673
83$10,201,630$665,605$0$8,640,356
84$11,145,526$601,550$0$9,421,435
85$12,182,655$531,311$0$10,279,688
86$13,322,430$454,489$0$11,222,942
87$14,575,222$370,664$0$12,259,819
88$15,952,458$279,389$0$13,399,824
89$17,466,723$180,194$0$14,653,430
90$19,131,888$72,582$0$16,032,180
91$20,963,232$0$0$17,548,793
92$22,977,590$0$0$19,224,061
93$25,193,509$0$0$21,079,304
94$27,631,427$0$0$23,120,454
95$30,313,859$0$0$25,366,371
96$33,265,617$0$0$27,837,831
97$36,514,037$0$0$30,557,729
98$40,089,237$0$0$33,551,291
99$44,024,408$0$0$36,846,311
100$48,356,116$0$0$40,473,416