Can I retire at age 54 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$81,506$80,780$80,071$79,380$78,705$77,689
2 years$40,349$39,598$38,870$38,163$37,478$36,457
3 years$26,632$25,878$25,151$24,452$23,778$22,782
4 years$19,775$19,023$18,304$17,616$16,959$15,996
5 years$15,662$14,914$14,204$13,531$12,892$11,965
6 years$12,921$12,178$11,479$10,821$10,201$9,311
7 years$10,963$10,227$9,539$8,896$8,296$7,444
8 years$9,496$8,767$8,090$7,463$6,882$6,068
9 years$8,356$7,633$6,968$6,357$5,796$5,018
10 years$7,444$6,728$6,075$5,480$4,938$4,197
11 years$6,698$5,990$5,348$4,769$4,247$3,542
12 years$6,077$5,376$4,746$4,183$3,680$3,010
13 years$5,552$4,858$4,241$3,693$3,209$2,573
14 years$5,102$4,416$3,810$3,278$2,813$2,211
15 years$4,713$4,034$3,440$2,924$2,477$1,907
16 years$4,373$3,701$3,119$2,618$2,189$1,650
17 years$4,073$3,409$2,838$2,352$1,941$1,432
18 years$3,806$3,150$2,591$2,120$1,726$1,246
19 years$3,568$2,919$2,372$1,915$1,538$1,086
20 years$3,355$2,713$2,177$1,735$1,374$949
21 years$3,161$2,527$2,002$1,574$1,230$830
22 years$2,986$2,359$1,845$1,431$1,102$727
23 years$2,826$2,206$1,704$1,304$989$637
24 years$2,679$2,067$1,576$1,189$889$559
25 years$2,545$1,940$1,459$1,086$800$492
26 years$2,421$1,823$1,354$993$721$432
27 years$2,306$1,716$1,257$909$650$380
28 years$2,200$1,617$1,168$833$586$335
29 years$2,101$1,525$1,087$764$530$295
30 years$2,009$1,440$1,013$701$478$260
31 years$1,923$1,362$944$644$433$229
32 years$1,843$1,288$881$591$391$202
33 years$1,768$1,220$823$544$354$178
34 years$1,697$1,156$769$500$321$157
35 years$1,630$1,097$719$461$290$139
36 years$1,568$1,041$672$424$263$123
37 years$1,508$989$629$391$238$108
38 years$1,452$940$589$360$216$96
39 years$1,400$893$552$332$196$84
40 years$1,349$850$517$306$178$75
41 years$1,302$809$485$283$161$66
42 years$1,257$771$455$261$146$58
43 years$1,214$734$427$241$133$51
44 years$1,173$700$401$222$121$45
45 years$1,134$667$376$205$109$40
46 years$1,097$637$354$190$99$35
47 years$1,061$608$332$175$90$31
48 years$1,027$580$312$162$82$28
49 years$995$554$293$150$74$24
50 years$964$529$276$138$68$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $987,000, adding $5,526 every year, while hoping to spend $59,317 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: 50/45/5 Blend
53$987,000$987,000$987,000$987,000
54$1,093,374$1,041,063$1,025,765$1,146,463
55$1,141,785$1,028,962$997,015$1,171,082
56$1,193,147$1,014,281$965,314$1,190,962
57$1,247,696$996,829$930,500$1,211,135
58$1,305,694$976,407$892,405$1,231,641
59$1,367,426$952,802$850,852$1,252,529
60$1,433,204$925,790$805,656$1,273,854
61$1,503,370$895,132$756,625$1,295,684
62$1,578,298$860,578$703,556$1,318,094
63$1,658,399$821,861$646,240$1,341,176
64$1,744,122$778,699$584,455$1,365,032
65$1,835,961$730,793$517,973$1,389,783
66$1,934,457$677,829$446,552$1,415,564
67$2,040,202$619,474$369,943$1,442,533
68$2,153,849$555,375$287,882$1,470,870
69$2,276,113$485,160$200,098$1,500,778
70$2,407,779$408,435$106,303$1,532,491
71$2,549,709$324,785$6,201$1,566,271
72$2,702,851$233,770$0$1,602,418
73$2,868,245$134,928$0$1,646,638
74$3,047,034$27,768$0$1,694,646
75$3,240,477$0$0$1,746,560
76$3,449,953$0$0$1,846,572
77$3,676,984$0$0$1,969,954
78$3,923,238$0$0$2,103,873
79$4,190,552$0$0$2,249,342
80$4,480,948$0$0$2,407,471
81$4,796,648$0$0$2,579,484
82$5,140,096$0$0$2,766,724
83$5,513,983$0$0$2,970,674
84$5,921,269$0$0$3,192,961
85$6,365,211$0$0$3,435,379
86$6,849,394$0$0$3,699,900
87$7,377,764$0$0$3,988,698
88$7,954,665$0$0$4,304,162
89$8,584,877$0$0$4,648,924
90$9,273,664$0$0$5,025,884
91$10,026,820$0$0$5,438,230
92$10,850,727$0$0$5,889,477
93$11,752,409$0$0$6,383,491
94$12,739,603$0$0$6,924,534
95$13,820,826$0$0$7,517,296
96$15,005,461$0$0$8,166,943
97$16,303,837$0$0$8,879,165
98$17,727,335$0$0$9,660,229
99$19,288,485$0$0$10,517,035
100$21,001,090$0$0$11,457,187