Can I retire at age 54 with 988,000?

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 $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%11.3%
1 years$81,588$80,861$80,152$79,460$78,785$78,354
2 years$40,390$39,638$38,909$38,202$37,516$37,082
3 years$26,659$25,904$25,177$24,476$23,802$23,377
4 years$19,795$19,042$18,322$17,634$16,976$16,563
5 years$15,678$14,929$14,219$13,545$12,905$12,506
6 years$12,934$12,191$11,491$10,832$10,211$9,827
7 years$10,975$10,238$9,549$8,905$8,304$7,935
8 years$9,506$8,776$8,098$7,470$6,889$6,535
9 years$8,364$7,641$6,975$6,363$5,802$5,462
10 years$7,451$6,735$6,081$5,485$4,943$4,618
11 years$6,705$5,996$5,354$4,774$4,251$3,941
12 years$6,083$5,382$4,751$4,187$3,684$3,388
13 years$5,558$4,863$4,245$3,697$3,213$2,930
14 years$5,108$4,421$3,814$3,281$2,816$2,547
15 years$4,718$4,038$3,444$2,926$2,480$2,223
16 years$4,377$3,705$3,122$2,620$2,192$1,948
17 years$4,077$3,412$2,841$2,354$1,943$1,712
18 years$3,810$3,153$2,593$2,122$1,728$1,509
19 years$3,572$2,922$2,374$1,917$1,540$1,332
20 years$3,358$2,715$2,179$1,736$1,376$1,179
21 years$3,164$2,529$2,004$1,576$1,231$1,045
22 years$2,989$2,361$1,847$1,433$1,103$928
23 years$2,829$2,208$1,706$1,305$990$825
24 years$2,682$2,069$1,577$1,190$890$734
25 years$2,547$1,942$1,461$1,087$801$654
26 years$2,423$1,825$1,355$994$722$583
27 years$2,308$1,717$1,258$910$651$521
28 years$2,202$1,618$1,170$833$587$465
29 years$2,103$1,527$1,088$764$530$416
30 years$2,011$1,442$1,014$701$479$372
31 years$1,925$1,363$945$644$433$333
32 years$1,845$1,290$882$592$392$298
33 years$1,769$1,221$823$544$354$266
34 years$1,699$1,158$769$501$321$239
35 years$1,632$1,098$719$461$291$214
36 years$1,569$1,042$673$425$263$192
37 years$1,510$990$630$391$239$172
38 years$1,454$941$590$361$216$154
39 years$1,401$894$553$333$196$138
40 years$1,351$851$518$307$178$124
41 years$1,303$810$486$283$161$111
42 years$1,258$771$456$261$147$100
43 years$1,215$735$427$241$133$90
44 years$1,174$701$401$223$121$80
45 years$1,135$668$377$206$110$72
46 years$1,098$637$354$190$100$65
47 years$1,062$608$332$175$90$58
48 years$1,028$581$312$162$82$52
49 years$996$554$294$150$75$47
50 years$965$530$276$138$68$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $988,000, adding $4,255 every year, while hoping to spend $40,244 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: 64/25/11 Blend
53$988,000$988,000$988,000$988,000
54$1,093,165$1,040,801$1,025,487$1,160,164
55$1,161,849$1,048,981$1,017,022$1,213,621
56$1,236,189$1,056,213$1,006,924$1,266,910
57$1,316,721$1,062,408$995,096$1,324,101
58$1,404,032$1,067,471$981,437$1,385,571
59$1,498,768$1,071,303$965,841$1,451,739
60$1,601,641$1,073,795$948,195$1,523,064
61$1,713,431$1,074,834$928,382$1,600,056
62$1,835,000$1,074,299$906,281$1,683,275
63$1,967,292$1,072,062$881,764$1,773,341
64$2,111,350$1,067,987$854,698$1,870,936
65$2,268,319$1,061,930$824,941$1,976,816
66$2,439,459$1,053,736$792,348$2,091,813
67$2,626,158$1,043,243$756,766$2,216,846
68$2,829,944$1,030,280$718,035$2,352,928
69$3,052,497$1,014,662$675,988$2,501,178
70$3,295,668$996,197$630,450$2,662,832
71$3,561,495$974,680$581,240$2,839,251
72$3,852,221$949,893$528,165$3,031,940
73$4,170,316$921,606$471,026$3,242,558
74$4,518,499$889,576$409,617$3,472,935
75$4,899,766$853,544$343,719$3,725,091
76$5,317,414$813,240$273,105$4,001,256
77$5,775,074$768,373$197,538$4,303,888
78$6,276,748$718,639$116,772$4,635,700
79$6,826,840$663,716$30,547$4,999,686
80$7,430,201$603,262$0$5,399,148
81$8,092,177$536,917$0$5,844,943
82$8,818,654$464,301$0$6,338,171
83$9,616,115$385,009$0$6,879,709
84$10,491,702$298,619$0$7,474,483
85$11,453,284$204,679$0$8,127,924
86$12,509,527$102,717$0$8,846,021
87$13,669,980$0$0$9,635,375
88$14,945,159$0$0$10,505,404
89$16,346,654$0$0$11,492,744
90$17,887,229$0$0$12,578,139
91$19,580,949$0$0$13,771,509
92$21,443,309$0$0$15,083,781
93$23,491,381$0$0$16,526,992
94$25,743,973$0$0$18,114,408
95$28,221,808$0$0$19,860,643
96$30,947,719$0$0$21,781,799
97$33,946,862$0$0$23,895,617
98$37,246,956$0$0$26,221,645
99$40,878,540$0$0$28,781,421
100$44,875,267$0$0$31,598,676