Can I retire at age 54 with 987,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%19.7%
1 years$81,506$80,780$80,071$79,380$78,705$75,642
2 years$40,349$39,598$38,870$38,163$37,478$34,430
3 years$26,632$25,878$25,151$24,452$23,778$20,839
4 years$19,775$19,023$18,304$17,616$16,959$14,152
5 years$15,662$14,914$14,204$13,531$12,892$10,225
6 years$12,921$12,178$11,479$10,821$10,201$7,675
7 years$10,963$10,227$9,539$8,896$8,296$5,911
8 years$9,496$8,767$8,090$7,463$6,882$4,636
9 years$8,356$7,633$6,968$6,357$5,796$3,684
10 years$7,444$6,728$6,075$5,480$4,938$2,957
11 years$6,698$5,990$5,348$4,769$4,247$2,393
12 years$6,077$5,376$4,746$4,183$3,680$1,947
13 years$5,552$4,858$4,241$3,693$3,209$1,593
14 years$5,102$4,416$3,810$3,278$2,813$1,307
15 years$4,713$4,034$3,440$2,924$2,477$1,077
16 years$4,373$3,701$3,119$2,618$2,189$889
17 years$4,073$3,409$2,838$2,352$1,941$735
18 years$3,806$3,150$2,591$2,120$1,726$609
19 years$3,568$2,919$2,372$1,915$1,538$506
20 years$3,355$2,713$2,177$1,735$1,374$420
21 years$3,161$2,527$2,002$1,574$1,230$349
22 years$2,986$2,359$1,845$1,431$1,102$291
23 years$2,826$2,206$1,704$1,304$989$242
24 years$2,679$2,067$1,576$1,189$889$202
25 years$2,545$1,940$1,459$1,086$800$168
26 years$2,421$1,823$1,354$993$721$140
27 years$2,306$1,716$1,257$909$650$117
28 years$2,200$1,617$1,168$833$586$98
29 years$2,101$1,525$1,087$764$530$81
30 years$2,009$1,440$1,013$701$478$68
31 years$1,923$1,362$944$644$433$57
32 years$1,843$1,288$881$591$391$47
33 years$1,768$1,220$823$544$354$40
34 years$1,697$1,156$769$500$321$33
35 years$1,630$1,097$719$461$290$28
36 years$1,568$1,041$672$424$263$23
37 years$1,508$989$629$391$238$19
38 years$1,452$940$589$360$216$16
39 years$1,400$893$552$332$196$13
40 years$1,349$850$517$306$178$11
41 years$1,302$809$485$283$161$9
42 years$1,257$771$455$261$146$8
43 years$1,214$734$427$241$133$7
44 years$1,173$700$401$222$121$5
45 years$1,134$667$376$205$109$5
46 years$1,097$637$354$190$99$4
47 years$1,061$608$332$175$90$3
48 years$1,027$580$312$162$82$3
49 years$995$554$293$150$74$2
50 years$964$529$276$138$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $987,000, adding $6,614 every year, while hoping to spend $24,009 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: 42/35/23 Blend
53$987,000$987,000$987,000$987,000
54$1,094,496$1,042,185$1,026,887$1,132,849
55$1,180,590$1,067,707$1,035,742$1,186,363
56$1,274,660$1,093,675$1,044,089$1,241,475
57$1,377,495$1,120,085$1,051,886$1,300,677
58$1,489,963$1,146,932$1,059,088$1,364,359
59$1,613,020$1,174,213$1,065,648$1,432,950
60$1,747,718$1,201,919$1,071,517$1,506,922
61$1,895,215$1,230,043$1,076,643$1,586,798
62$2,056,787$1,258,576$1,080,971$1,673,150
63$2,233,840$1,287,507$1,084,445$1,766,613
64$2,427,922$1,316,824$1,087,003$1,867,884
65$2,640,736$1,346,514$1,088,584$1,977,731
66$2,874,159$1,376,562$1,089,120$2,097,002
67$3,130,260$1,406,951$1,088,542$2,226,633
68$3,411,316$1,437,660$1,086,778$2,367,651
69$3,719,836$1,468,671$1,083,750$2,521,193
70$4,058,582$1,499,958$1,079,378$2,688,511
71$4,430,598$1,531,498$1,073,579$2,870,983
72$4,839,239$1,563,261$1,066,263$3,070,131
73$5,288,198$1,595,217$1,057,340$3,287,631
74$5,781,544$1,627,333$1,046,711$3,525,331
75$6,323,762$1,659,572$1,034,275$3,785,270
76$6,919,789$1,691,894$1,019,927$4,069,692
77$7,575,067$1,724,257$1,003,554$4,381,076
78$8,295,592$1,756,614$985,041$4,722,151
79$9,087,968$1,788,914$964,266$5,095,926
80$9,959,473$1,821,102$941,101$5,505,719
81$10,918,123$1,853,121$915,412$5,955,189
82$11,972,754$1,884,906$887,061$6,448,367
83$13,133,099$1,916,390$855,901$6,989,699
84$14,409,880$1,947,499$821,779$7,584,085
85$15,814,916$1,978,154$784,536$8,236,928
86$17,361,225$2,008,271$744,006$8,954,182
87$19,063,152$2,037,759$700,013$9,742,414
88$20,936,506$2,066,521$652,375$10,608,860
89$22,998,702$2,094,453$600,902$11,561,499
90$25,268,932$2,121,444$545,395$12,609,124
91$27,768,343$2,147,375$485,646$13,761,431
92$30,520,237$2,172,119$421,438$15,029,106
93$33,550,289$2,195,540$352,543$16,423,929
94$36,886,791$2,217,494$278,726$17,958,886
95$40,560,919$2,237,827$199,739$19,648,292
96$44,607,025$2,256,373$115,323$21,507,923
97$49,062,965$2,272,959$25,210$23,555,174
98$53,970,451$2,287,397$0$25,809,214
99$59,375,446$2,299,489$0$28,308,589
100$65,328,602$2,309,024$0$31,066,913