Can I retire at age 54 with 984,000?

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 $984,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$81,258$80,534$79,828$79,139$78,466$76,569
2 years$40,227$39,477$38,751$38,047$37,365$35,465
3 years$26,551$25,799$25,075$24,377$23,706$21,863
4 years$19,715$18,965$18,248$17,562$16,907$15,135
5 years$15,614$14,869$14,161$13,490$12,852$11,156
6 years$12,881$12,141$11,444$10,788$10,170$8,551
7 years$10,930$10,196$9,510$8,869$8,271$6,729
8 years$9,467$8,740$8,065$7,440$6,861$5,397
9 years$8,330$7,610$6,947$6,337$5,778$4,389
10 years$7,421$6,708$6,056$5,463$4,923$3,609
11 years$6,678$5,972$5,332$4,754$4,234$2,992
12 years$6,059$5,360$4,732$4,170$3,669$2,497
13 years$5,535$4,844$4,228$3,682$3,200$2,096
14 years$5,087$4,403$3,799$3,268$2,805$1,767
15 years$4,699$4,022$3,430$2,915$2,470$1,494
16 years$4,359$3,690$3,109$2,610$2,183$1,268
17 years$4,060$3,398$2,829$2,345$1,935$1,079
18 years$3,795$3,140$2,583$2,113$1,721$920
19 years$3,558$2,910$2,365$1,909$1,534$785
20 years$3,344$2,704$2,170$1,729$1,370$672
21 years$3,152$2,519$1,996$1,569$1,226$575
22 years$2,977$2,351$1,840$1,427$1,099$493
23 years$2,817$2,199$1,699$1,300$986$423
24 years$2,671$2,061$1,571$1,185$887$363
25 years$2,537$1,934$1,455$1,083$798$312
26 years$2,413$1,817$1,349$990$719$268
27 years$2,299$1,710$1,253$906$648$231
28 years$2,193$1,612$1,165$830$585$199
29 years$2,095$1,520$1,084$761$528$171
30 years$2,003$1,436$1,010$699$477$147
31 years$1,917$1,357$941$642$431$127
32 years$1,837$1,284$878$590$390$109
33 years$1,762$1,216$820$542$353$94
34 years$1,692$1,153$766$499$320$81
35 years$1,625$1,093$716$459$290$70
36 years$1,563$1,038$670$423$262$60
37 years$1,504$986$627$390$238$52
38 years$1,448$937$587$359$216$45
39 years$1,395$891$550$331$195$39
40 years$1,345$847$516$305$177$33
41 years$1,298$807$484$282$161$29
42 years$1,253$768$454$260$146$25
43 years$1,210$732$426$240$132$21
44 years$1,169$698$400$222$120$18
45 years$1,130$665$375$205$109$16
46 years$1,093$635$352$189$99$14
47 years$1,058$606$331$175$90$12
48 years$1,024$578$311$161$82$10
49 years$992$552$292$149$74$9
50 years$961$528$275$138$67$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $984,000, adding $5,564 every year, while hoping to spend $40,303 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: 56/21/23 Blend
53$984,000$984,000$984,000$984,000
54$1,090,107$1,037,955$1,022,703$1,144,049
55$1,158,416$1,045,933$1,014,082$1,189,564
56$1,232,342$1,052,951$1,003,821$1,234,393
57$1,312,414$1,058,919$991,822$1,282,375
58$1,399,217$1,063,743$977,985$1,333,824
59$1,493,391$1,067,320$962,202$1,389,088
60$1,595,642$1,069,544$944,360$1,448,553
61$1,706,745$1,070,299$924,344$1,512,644
62$1,827,554$1,069,464$902,030$1,581,831
63$1,959,006$1,066,910$877,290$1,656,636
64$2,102,136$1,062,500$849,990$1,737,633
65$2,258,079$1,056,087$819,990$1,825,459
66$2,428,087$1,047,519$787,143$1,920,817
67$2,613,535$1,036,631$751,296$2,024,484
68$2,815,939$1,023,249$712,288$2,137,319
69$3,036,967$1,007,190$669,951$2,260,270
70$3,278,454$988,259$624,111$2,394,387
71$3,542,422$966,250$574,585$2,540,827
72$3,831,096$940,943$521,181$2,700,871
73$4,146,926$912,108$463,699$2,875,932
74$4,492,611$879,499$401,931$3,067,572
75$4,871,120$842,858$335,658$3,277,516
76$5,285,725$801,909$264,654$3,507,667
77$5,740,030$756,363$188,680$3,760,129
78$6,238,001$705,912$107,489$4,037,225
79$6,784,008$650,233$20,821$4,341,517
80$7,382,865$588,983$0$4,675,836
81$8,039,872$521,798$0$5,060,896
82$8,760,868$448,295$0$5,489,154
83$9,552,285$368,070$0$5,959,373
84$10,421,208$280,695$0$6,475,831
85$11,375,440$185,718$0$7,043,245
86$12,423,579$82,663$0$7,666,813
87$13,575,095$0$0$8,352,270
88$14,840,422$0$0$9,112,631
89$16,231,053$0$0$9,969,378
90$17,759,651$0$0$10,911,222
91$19,440,167$0$0$11,946,770
92$21,287,969$0$0$13,085,507
93$23,319,992$0$0$14,337,879
94$25,554,892$0$0$15,715,400
95$28,013,224$0$0$17,230,752
96$30,717,635$0$0$18,897,910
97$33,693,078$0$0$20,732,271
98$36,967,048$0$0$22,750,801
99$40,569,836$0$0$24,972,191
100$44,534,822$0$0$27,417,039