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%17.5%
1 years$81,175$80,452$79,747$79,058$78,386$75,998
2 years$40,186$39,437$38,712$38,009$37,327$34,942
3 years$26,524$25,773$25,049$24,353$23,682$21,374
4 years$19,695$18,946$18,229$17,545$16,890$14,678
5 years$15,599$14,854$14,147$13,476$12,839$10,728
6 years$12,868$12,129$11,433$10,777$10,159$8,151
7 years$10,919$10,186$9,501$8,860$8,262$6,357
8 years$9,458$8,731$8,057$7,433$6,854$5,051
9 years$8,322$7,602$6,940$6,331$5,772$4,068
10 years$7,413$6,701$6,050$5,457$4,918$3,311
11 years$6,671$5,965$5,327$4,750$4,230$2,718
12 years$6,052$5,354$4,727$4,166$3,666$2,244
13 years$5,530$4,839$4,223$3,678$3,196$1,863
14 years$5,082$4,398$3,795$3,265$2,802$1,553
15 years$4,694$4,018$3,426$2,912$2,467$1,299
16 years$4,355$3,686$3,106$2,607$2,180$1,090
17 years$4,056$3,395$2,827$2,342$1,933$917
18 years$3,791$3,137$2,580$2,111$1,719$772
19 years$3,554$2,907$2,362$1,907$1,532$651
20 years$3,341$2,702$2,168$1,728$1,369$550
21 years$3,148$2,517$1,994$1,568$1,225$466
22 years$2,974$2,349$1,838$1,426$1,098$394
23 years$2,814$2,197$1,697$1,298$985$334
24 years$2,668$2,059$1,569$1,184$886$283
25 years$2,534$1,932$1,454$1,081$797$240
26 years$2,411$1,816$1,348$989$718$204
27 years$2,297$1,709$1,252$905$647$173
28 years$2,191$1,610$1,164$829$584$147
29 years$2,093$1,519$1,083$760$527$125
30 years$2,001$1,434$1,009$698$477$106
31 years$1,915$1,356$940$641$431$90
32 years$1,835$1,283$877$589$390$77
33 years$1,760$1,215$819$542$353$65
34 years$1,690$1,152$765$498$319$56
35 years$1,624$1,092$716$459$289$47
36 years$1,561$1,037$669$423$262$40
37 years$1,502$985$627$389$238$34
38 years$1,447$936$587$359$215$29
39 years$1,394$890$550$331$195$25
40 years$1,344$847$515$305$177$21
41 years$1,297$806$483$282$161$18
42 years$1,252$768$453$260$146$15
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$9
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 $3,555 every year, while hoping to spend $48,278 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: 60/20/20 Blend
53$983,000$983,000$983,000$983,000
54$1,086,933$1,034,834$1,019,597$1,146,254
55$1,146,433$1,034,173$1,002,387$1,186,175
56$1,210,383$1,031,862$982,981$1,224,089
57$1,279,188$1,027,769$961,256$1,264,363
58$1,353,289$1,021,754$937,082$1,307,234
59$1,433,172$1,013,668$910,323$1,352,963
60$1,519,372$1,003,354$880,835$1,401,842
61$1,612,475$990,645$848,469$1,454,192
62$1,713,125$975,364$813,071$1,510,370
63$1,822,031$957,324$774,476$1,570,773
64$1,939,972$936,326$732,514$1,635,838
65$2,067,804$912,161$687,008$1,706,050
66$2,206,468$884,605$637,771$1,781,948
67$2,356,999$853,423$584,609$1,864,126
68$2,520,538$818,365$527,317$1,953,242
69$2,698,336$779,168$465,686$2,050,028
70$2,891,771$735,552$399,491$2,155,288
71$3,102,360$687,223$328,503$2,269,917
72$3,331,772$633,868$252,478$2,394,903
73$3,581,842$575,157$171,166$2,531,337
74$3,854,592$510,741$84,302$2,680,430
75$4,152,245$440,252$0$2,843,517
76$4,477,250$363,301$0$3,023,869
77$4,832,302$279,475$0$3,240,642
78$5,220,368$188,340$0$3,477,698
79$5,644,715$89,438$0$3,737,101
80$6,108,939$0$0$4,021,125
81$6,617,001$0$0$4,336,182
82$7,173,260$0$0$4,702,753
83$7,782,520$0$0$5,104,329
84$8,450,069$0$0$5,544,406
85$9,181,730$0$0$6,026,832
86$9,983,917$0$0$6,555,849
87$10,863,696$0$0$7,136,124
88$11,828,847$0$0$7,772,803
89$12,887,940$0$0$8,471,550
90$14,050,416$0$0$9,238,606
91$15,326,674$0$0$10,080,845
92$16,728,169$0$0$11,005,838
93$18,267,518$0$0$12,021,929
94$19,958,623$0$0$13,138,306
95$21,816,797$0$0$14,365,093
96$23,858,910$0$0$15,713,443
97$26,103,547$0$0$17,195,642
98$28,571,185$0$0$18,825,228
99$31,284,382$0$0$20,617,113
100$34,267,992$0$0$22,587,730