Can I retire at age 54 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$81,340$80,616$79,909$79,219$78,545$77,340
2 years$40,268$39,518$38,791$38,086$37,403$36,191
3 years$26,578$25,825$25,100$24,402$23,730$22,550
4 years$19,735$18,984$18,267$17,580$16,924$15,785
5 years$15,630$14,884$14,176$13,503$12,866$11,770
6 years$12,895$12,154$11,456$10,799$10,180$9,130
7 years$10,941$10,207$9,520$8,878$8,279$7,274
8 years$9,477$8,749$8,074$7,448$6,868$5,909
9 years$8,339$7,618$6,954$6,344$5,784$4,870
10 years$7,429$6,715$6,063$5,468$4,928$4,058
11 years$6,684$5,978$5,337$4,759$4,239$3,412
12 years$6,065$5,365$4,737$4,174$3,673$2,889
13 years$5,541$4,849$4,232$3,685$3,203$2,460
14 years$5,092$4,407$3,802$3,271$2,808$2,105
15 years$4,704$4,026$3,433$2,918$2,472$1,808
16 years$4,364$3,694$3,113$2,612$2,185$1,558
17 years$4,065$3,402$2,832$2,347$1,937$1,346
18 years$3,799$3,143$2,586$2,115$1,723$1,166
19 years$3,561$2,913$2,367$1,911$1,535$1,012
20 years$3,348$2,707$2,172$1,731$1,371$880
21 years$3,155$2,522$1,998$1,571$1,227$766
22 years$2,980$2,354$1,842$1,428$1,100$668
23 years$2,820$2,202$1,700$1,301$987$583
24 years$2,674$2,063$1,573$1,187$888$510
25 years$2,539$1,936$1,456$1,084$799$446
26 years$2,416$1,819$1,351$991$719$390
27 years$2,301$1,712$1,254$907$649$341
28 years$2,195$1,613$1,166$831$585$299
29 years$2,097$1,522$1,085$762$528$262
30 years$2,005$1,437$1,011$699$477$230
31 years$1,919$1,359$942$642$432$202
32 years$1,839$1,286$879$590$391$177
33 years$1,764$1,218$821$543$353$155
34 years$1,693$1,154$767$499$320$136
35 years$1,627$1,095$717$460$290$120
36 years$1,564$1,039$671$423$263$105
37 years$1,505$987$628$390$238$92
38 years$1,450$938$588$360$216$81
39 years$1,397$892$551$332$196$71
40 years$1,347$848$516$306$177$63
41 years$1,299$808$484$282$161$55
42 years$1,254$769$454$260$146$48
43 years$1,211$733$426$240$133$43
44 years$1,170$698$400$222$120$37
45 years$1,131$666$376$205$109$33
46 years$1,094$635$353$189$99$29
47 years$1,059$606$331$175$90$25
48 years$1,025$579$311$162$82$22
49 years$993$553$293$149$74$20
50 years$962$528$275$138$67$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $985,000, adding $5,697 every year, while hoping to spend $35,550 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: 68/7/25 Blend
53$985,000$985,000$985,000$985,000
54$1,091,346$1,039,141$1,023,874$1,158,182
55$1,164,839$1,052,234$1,020,349$1,216,852
56$1,244,636$1,064,778$1,015,514$1,276,417
57$1,331,343$1,076,706$1,009,288$1,340,759
58$1,425,627$1,087,952$1,001,586$1,410,351
59$1,528,221$1,098,440$992,319$1,485,712
60$1,639,929$1,108,094$981,392$1,567,417
61$1,761,641$1,116,830$968,707$1,656,100
62$1,894,332$1,124,558$954,163$1,752,459
63$2,039,078$1,131,185$937,651$1,857,266
64$2,197,060$1,136,610$919,058$1,971,370
65$2,369,581$1,140,725$898,268$2,095,709
66$2,558,075$1,143,417$875,157$2,231,317
67$2,764,120$1,144,565$849,595$2,379,334
68$2,989,452$1,144,041$821,449$2,541,019
69$3,235,985$1,141,708$790,576$2,717,757
70$3,505,825$1,137,421$756,830$2,911,080
71$3,801,291$1,131,027$720,056$3,122,674
72$4,124,938$1,122,362$680,093$3,354,399
73$4,479,578$1,111,254$636,772$3,608,307
74$4,868,309$1,097,520$589,918$3,886,662
75$5,294,543$1,080,965$539,347$4,191,957
76$5,762,037$1,061,383$484,866$4,526,943
77$6,274,931$1,038,557$426,275$4,894,656
78$6,837,782$1,012,254$363,363$5,298,440
79$7,455,613$982,231$295,913$5,741,982
80$8,133,954$948,229$223,695$6,229,351
81$8,878,899$909,974$146,470$6,765,031
82$9,697,159$867,176$63,990$7,353,966
83$10,596,130$819,528$0$8,001,607
84$11,583,956$766,705$0$8,720,375
85$12,669,611$708,366$0$9,529,119
86$13,862,982$644,147$0$10,418,133
87$15,174,961$573,664$0$11,395,550
88$16,617,547$496,514$0$12,470,331
89$18,203,962$412,268$0$13,652,353
90$19,948,770$320,473$0$14,952,496
91$21,868,021$220,653$0$16,382,751
92$23,979,397$112,302$0$17,956,330
93$26,302,379$0$0$19,687,793
94$28,858,434$0$0$21,593,578
95$31,671,212$0$0$23,700,360
96$34,766,774$0$0$26,019,018
97$38,173,834$0$0$28,571,068
98$41,924,031$0$0$31,380,217
99$46,052,227$0$0$34,472,588
100$50,596,835$0$0$37,876,967