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%19.3%
1 years$81,258$80,534$79,828$79,139$78,466$75,531
2 years$40,227$39,477$38,751$38,047$37,365$34,442
3 years$26,551$25,799$25,075$24,377$23,706$20,887
4 years$19,715$18,965$18,248$17,562$16,907$14,213
5 years$15,614$14,869$14,161$13,490$12,852$10,291
6 years$12,881$12,141$11,444$10,788$10,170$7,742
7 years$10,930$10,196$9,510$8,869$8,271$5,976
8 years$9,467$8,740$8,065$7,440$6,861$4,698
9 years$8,330$7,610$6,947$6,337$5,778$3,743
10 years$7,421$6,708$6,056$5,463$4,923$3,012
11 years$6,678$5,972$5,332$4,754$4,234$2,443
12 years$6,059$5,360$4,732$4,170$3,669$1,994
13 years$5,535$4,844$4,228$3,682$3,200$1,635
14 years$5,087$4,403$3,799$3,268$2,805$1,346
15 years$4,699$4,022$3,430$2,915$2,470$1,112
16 years$4,359$3,690$3,109$2,610$2,183$921
17 years$4,060$3,398$2,829$2,345$1,935$764
18 years$3,795$3,140$2,583$2,113$1,721$635
19 years$3,558$2,910$2,365$1,909$1,534$528
20 years$3,344$2,704$2,170$1,729$1,370$440
21 years$3,152$2,519$1,996$1,569$1,226$367
22 years$2,977$2,351$1,840$1,427$1,099$307
23 years$2,817$2,199$1,699$1,300$986$256
24 years$2,671$2,061$1,571$1,185$887$214
25 years$2,537$1,934$1,455$1,083$798$179
26 years$2,413$1,817$1,349$990$719$150
27 years$2,299$1,710$1,253$906$648$125
28 years$2,193$1,612$1,165$830$585$105
29 years$2,095$1,520$1,084$761$528$88
30 years$2,003$1,436$1,010$699$477$74
31 years$1,917$1,357$941$642$431$62
32 years$1,837$1,284$878$590$390$52
33 years$1,762$1,216$820$542$353$43
34 years$1,692$1,153$766$499$320$36
35 years$1,625$1,093$716$459$290$30
36 years$1,563$1,038$670$423$262$25
37 years$1,504$986$627$390$238$21
38 years$1,448$937$587$359$216$18
39 years$1,395$891$550$331$195$15
40 years$1,345$847$516$305$177$13
41 years$1,298$807$484$282$161$11
42 years$1,253$768$454$260$146$9
43 years$1,210$732$426$240$132$7
44 years$1,169$698$400$222$120$6
45 years$1,130$665$375$205$109$5
46 years$1,093$635$352$189$99$4
47 years$1,058$606$331$175$90$4
48 years$1,024$578$311$161$82$3
49 years$992$552$292$149$74$3
50 years$961$528$275$138$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $984,000, adding $2,719 every year, while hoping to spend $55,107 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: 61/14/25 Blend
53$984,000$984,000$984,000$984,000
54$1,087,173$1,035,021$1,019,769$1,146,088
55$1,139,431$1,027,103$995,297$1,178,490
56$1,195,172$1,016,951$968,160$1,207,601
57$1,254,694$1,004,396$938,207$1,238,178
58$1,318,323$989,261$905,287$1,270,373
59$1,386,414$971,357$869,236$1,304,359
60$1,459,360$950,485$829,887$1,340,324
61$1,537,589$926,433$787,063$1,378,482
62$1,621,573$898,978$740,579$1,419,067
63$1,711,828$867,883$690,244$1,462,345
64$1,808,923$832,898$635,855$1,508,606
65$1,913,480$793,756$577,203$1,558,178
66$2,026,183$750,178$514,067$1,611,422
67$2,147,783$701,867$446,218$1,668,740
68$2,279,108$648,509$373,417$1,730,580
69$2,421,063$589,772$295,413$1,797,439
70$2,574,646$525,306$211,944$1,869,868
71$2,740,954$454,740$122,738$1,948,479
72$2,921,192$377,683$27,511$2,033,953
73$3,116,685$293,721$0$2,127,041
74$3,328,890$202,416$0$2,248,351
75$3,559,411$103,309$0$2,388,154
76$3,810,011$0$0$2,540,219
77$4,082,629$0$0$2,706,402
78$4,379,400$0$0$2,904,699
79$4,702,673$0$0$3,120,774
80$5,055,032$0$0$3,356,363
81$5,439,321$0$0$3,613,375
82$5,858,671$0$0$3,893,914
83$6,316,527$0$0$4,200,296
84$6,816,683$0$0$4,535,068
85$7,363,315$0$0$4,901,037
86$7,961,021$0$0$5,301,291
87$8,614,861$0$0$5,739,233
88$9,330,411$0$0$6,218,606
89$10,113,807$0$0$6,743,536
90$10,971,808$0$0$7,318,564
91$11,911,857$0$0$7,948,691
92$12,942,149$0$0$8,639,425
93$14,071,713$0$0$9,396,833
94$15,310,490$0$0$10,227,596
95$16,669,431$0$0$11,139,075
96$18,160,599$0$0$12,139,374
97$19,797,279$0$0$13,237,424
98$21,594,105$0$0$14,443,060
99$23,567,199$0$0$15,767,116
100$25,734,320$0$0$17,221,528