Can I retire at age 54 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$81,588$80,861$80,152$79,460$78,785$78,059
2 years$40,390$39,638$38,909$38,202$37,516$36,786
3 years$26,659$25,904$25,177$24,476$23,802$23,088
4 years$19,795$19,042$18,322$17,634$16,976$16,285
5 years$15,678$14,929$14,219$13,545$12,905$12,239
6 years$12,934$12,191$11,491$10,832$10,211$9,570
7 years$10,975$10,238$9,549$8,905$8,304$7,690
8 years$9,506$8,776$8,098$7,470$6,889$6,300
9 years$8,364$7,641$6,975$6,363$5,802$5,238
10 years$7,451$6,735$6,081$5,485$4,943$4,405
11 years$6,705$5,996$5,354$4,774$4,251$3,738
12 years$6,083$5,382$4,751$4,187$3,684$3,195
13 years$5,558$4,863$4,245$3,697$3,213$2,748
14 years$5,108$4,421$3,814$3,281$2,816$2,374
15 years$4,718$4,038$3,444$2,926$2,480$2,060
16 years$4,377$3,705$3,122$2,620$2,192$1,794
17 years$4,077$3,412$2,841$2,354$1,943$1,567
18 years$3,810$3,153$2,593$2,122$1,728$1,372
19 years$3,572$2,922$2,374$1,917$1,540$1,204
20 years$3,358$2,715$2,179$1,736$1,376$1,059
21 years$3,164$2,529$2,004$1,576$1,231$932
22 years$2,989$2,361$1,847$1,433$1,103$822
23 years$2,829$2,208$1,706$1,305$990$726
24 years$2,682$2,069$1,577$1,190$890$642
25 years$2,547$1,942$1,461$1,087$801$568
26 years$2,423$1,825$1,355$994$722$503
27 years$2,308$1,717$1,258$910$651$445
28 years$2,202$1,618$1,170$833$587$395
29 years$2,103$1,527$1,088$764$530$351
30 years$2,011$1,442$1,014$701$479$311
31 years$1,925$1,363$945$644$433$276
32 years$1,845$1,290$882$592$392$246
33 years$1,769$1,221$823$544$354$218
34 years$1,699$1,158$769$501$321$194
35 years$1,632$1,098$719$461$291$173
36 years$1,569$1,042$673$425$263$153
37 years$1,510$990$630$391$239$137
38 years$1,454$941$590$361$216$121
39 years$1,401$894$553$333$196$108
40 years$1,351$851$518$307$178$96
41 years$1,303$810$486$283$161$86
42 years$1,258$771$456$261$147$76
43 years$1,215$735$427$241$133$68
44 years$1,174$701$401$223$121$61
45 years$1,135$668$377$206$110$54
46 years$1,098$637$354$190$100$48
47 years$1,062$608$332$175$90$43
48 years$1,028$581$312$162$82$38
49 years$996$554$294$150$75$34
50 years$965$530$276$138$68$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $988,000, adding $3,052 every year, while hoping to spend $36,854 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: 35/48/17 Blend
53$988,000$988,000$988,000$988,000
54$1,091,924$1,039,560$1,024,246$1,124,345
55$1,164,088$1,051,286$1,019,346$1,159,972
56$1,242,377$1,062,352$1,013,047$1,194,713
57$1,327,378$1,072,685$1,005,262$1,231,416
58$1,419,735$1,082,211$995,902$1,270,275
59$1,520,156$1,090,848$984,874$1,311,507
60$1,629,423$1,098,509$972,077$1,355,351
61$1,748,391$1,105,104$957,409$1,402,075
62$1,878,007$1,110,534$940,762$1,451,974
63$2,019,309$1,114,696$922,023$1,505,376
64$2,173,441$1,117,478$901,073$1,562,648
65$2,341,661$1,118,764$877,789$1,624,193
66$2,525,356$1,118,428$852,040$1,690,460
67$2,726,050$1,116,339$823,691$1,761,948
68$2,945,422$1,112,355$792,600$1,839,208
69$3,185,323$1,106,327$758,619$1,922,852
70$3,447,786$1,098,098$721,593$2,013,559
71$3,735,053$1,087,498$681,359$2,112,079
72$4,049,593$1,074,350$637,749$2,219,247
73$4,394,123$1,058,465$590,586$2,335,983
74$4,771,637$1,039,643$539,684$2,463,310
75$5,185,431$1,017,672$484,850$2,602,357
76$5,639,134$992,327$425,882$2,754,378
77$6,136,747$963,372$362,569$2,920,758
78$6,682,672$930,554$294,692$3,103,030
79$7,281,760$893,607$222,021$3,302,890
80$7,939,356$852,250$144,315$3,522,217
81$8,661,344$806,184$61,323$3,763,086
82$9,454,209$755,095$0$4,027,793
83$10,325,092$698,648$0$4,323,819
84$11,281,862$636,492$0$4,661,223
85$12,333,185$568,254$0$5,032,023
86$13,488,612$493,541$0$5,439,704
87$14,758,662$411,936$0$5,888,115
88$16,154,925$323,000$0$6,381,503
89$17,690,169$226,269$0$6,924,560
90$19,378,463$121,252$0$7,522,464
91$21,235,305$7,433$0$8,180,932
92$23,277,773$0$0$8,906,276
93$25,524,681$0$0$9,766,592
94$27,996,760$0$0$10,717,607
95$30,716,850$0$0$11,764,203
96$33,710,119$0$0$12,916,083
97$37,004,296$0$0$14,183,941
98$40,629,935$0$0$15,579,559
99$44,620,702$0$0$17,115,918
100$49,013,693$0$0$18,807,325