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%17.4%
1 years$81,506$80,780$80,071$79,380$78,705$76,338
2 years$40,349$39,598$38,870$38,163$37,478$35,114
3 years$26,632$25,878$25,151$24,452$23,778$21,490
4 years$19,775$19,023$18,304$17,616$16,959$14,765
5 years$15,662$14,914$14,204$13,531$12,892$10,797
6 years$12,921$12,178$11,479$10,821$10,201$8,208
7 years$10,963$10,227$9,539$8,896$8,296$6,405
8 years$9,496$8,767$8,090$7,463$6,882$5,092
9 years$8,356$7,633$6,968$6,357$5,796$4,104
10 years$7,444$6,728$6,075$5,480$4,938$3,343
11 years$6,698$5,990$5,348$4,769$4,247$2,745
12 years$6,077$5,376$4,746$4,183$3,680$2,269
13 years$5,552$4,858$4,241$3,693$3,209$1,885
14 years$5,102$4,416$3,810$3,278$2,813$1,572
15 years$4,713$4,034$3,440$2,924$2,477$1,316
16 years$4,373$3,701$3,119$2,618$2,189$1,105
17 years$4,073$3,409$2,838$2,352$1,941$930
18 years$3,806$3,150$2,591$2,120$1,726$784
19 years$3,568$2,919$2,372$1,915$1,538$662
20 years$3,355$2,713$2,177$1,735$1,374$560
21 years$3,161$2,527$2,002$1,574$1,230$474
22 years$2,986$2,359$1,845$1,431$1,102$401
23 years$2,826$2,206$1,704$1,304$989$340
24 years$2,679$2,067$1,576$1,189$889$289
25 years$2,545$1,940$1,459$1,086$800$245
26 years$2,421$1,823$1,354$993$721$208
27 years$2,306$1,716$1,257$909$650$177
28 years$2,200$1,617$1,168$833$586$150
29 years$2,101$1,525$1,087$764$530$128
30 years$2,009$1,440$1,013$701$478$109
31 years$1,923$1,362$944$644$433$93
32 years$1,843$1,288$881$591$391$79
33 years$1,768$1,220$823$544$354$67
34 years$1,697$1,156$769$500$321$57
35 years$1,630$1,097$719$461$290$49
36 years$1,568$1,041$672$424$263$41
37 years$1,508$989$629$391$238$35
38 years$1,452$940$589$360$216$30
39 years$1,400$893$552$332$196$26
40 years$1,349$850$517$306$178$22
41 years$1,302$809$485$283$161$19
42 years$1,257$771$455$261$146$16
43 years$1,214$734$427$241$133$13
44 years$1,173$700$401$222$121$11
45 years$1,134$667$376$205$109$10
46 years$1,097$637$354$190$99$8
47 years$1,061$608$332$175$90$7
48 years$1,027$580$312$162$82$6
49 years$995$554$293$150$74$5
50 years$964$529$276$138$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $987,000, adding $2,756 every year, while hoping to spend $58,302 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: 47/28/25 Blend
53$987,000$987,000$987,000$987,000
54$1,090,517$1,038,206$1,022,907$1,133,859
55$1,139,717$1,027,045$995,142$1,153,433
56$1,191,981$1,013,383$964,492$1,168,707
57$1,247,560$997,037$930,800$1,184,129
58$1,306,730$977,810$893,900$1,199,740
59$1,369,790$955,496$853,620$1,215,590
60$1,437,071$929,877$809,778$1,231,740
61$1,508,932$900,721$762,185$1,248,259
62$1,585,769$867,783$710,645$1,265,229
63$1,668,016$830,803$654,950$1,282,746
64$1,756,148$789,506$594,885$1,300,919
65$1,850,686$743,603$530,224$1,319,876
66$1,952,202$692,786$460,733$1,339,761
67$2,061,324$636,730$386,166$1,360,742
68$2,178,742$575,093$306,265$1,383,007
69$2,305,212$507,511$220,763$1,406,774
70$2,441,566$433,601$129,381$1,432,289
71$2,588,716$352,958$31,826$1,459,829
72$2,747,666$265,153$0$1,489,711
73$2,919,519$169,736$0$1,541,573
74$3,105,485$66,229$0$1,606,846
75$3,306,897$0$0$1,677,576
76$3,525,220$0$0$1,768,497
77$3,762,064$0$0$1,889,361
78$4,019,201$0$0$2,020,679
79$4,298,577$0$0$2,163,457
80$4,602,336$0$0$2,318,803
81$4,932,836$0$0$2,487,937
82$5,292,671$0$0$2,672,200
83$5,684,694$0$0$2,873,068
84$6,112,047$0$0$3,092,166
85$6,578,187$0$0$3,331,283
86$7,086,918$0$0$3,592,387
87$7,642,429$0$0$3,877,645
88$8,249,331$0$0$4,189,442
89$8,912,698$0$0$4,530,406
90$9,638,121$0$0$4,903,427
91$10,431,750$0$0$5,311,690
92$11,300,362$0$0$5,758,702
93$12,251,417$0$0$6,248,324
94$13,293,129$0$0$6,784,807
95$14,434,546$0$0$7,372,836
96$15,685,632$0$0$8,017,566
97$17,057,359$0$0$8,724,679
98$18,561,813$0$0$9,500,431
99$20,212,307$0$0$10,351,713
100$22,023,503$0$0$11,286,117