Can I retire at age 54 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$81,671$80,943$80,233$79,541$78,864$77,622
2 years$40,431$39,678$38,948$38,241$37,554$36,306
3 years$26,686$25,930$25,202$24,501$23,826$22,610
4 years$19,815$19,061$18,341$17,652$16,993$15,819
5 years$15,694$14,944$14,233$13,558$12,918$11,790
6 years$12,947$12,203$11,502$10,843$10,221$9,140
7 years$10,986$10,248$9,559$8,914$8,313$7,279
8 years$9,515$8,785$8,106$7,478$6,896$5,909
9 years$8,373$7,649$6,982$6,370$5,808$4,867
10 years$7,459$6,742$6,087$5,491$4,948$4,053
11 years$6,712$6,002$5,359$4,779$4,256$3,406
12 years$6,089$5,387$4,756$4,191$3,688$2,881
13 years$5,563$4,868$4,249$3,700$3,216$2,452
14 years$5,113$4,425$3,818$3,285$2,819$2,097
15 years$4,723$4,042$3,447$2,929$2,482$1,800
16 years$4,382$3,709$3,125$2,623$2,194$1,550
17 years$4,081$3,416$2,844$2,357$1,945$1,338
18 years$3,814$3,156$2,596$2,124$1,730$1,159
19 years$3,576$2,925$2,377$1,919$1,542$1,005
20 years$3,361$2,718$2,181$1,738$1,377$873
21 years$3,168$2,532$2,006$1,577$1,232$760
22 years$2,992$2,363$1,849$1,434$1,104$662
23 years$2,831$2,210$1,707$1,306$991$577
24 years$2,685$2,071$1,579$1,191$891$504
25 years$2,550$1,944$1,462$1,088$802$440
26 years$2,426$1,827$1,356$995$722$385
27 years$2,311$1,719$1,259$911$651$337
28 years$2,204$1,620$1,171$834$588$295
29 years$2,105$1,528$1,090$765$531$258
30 years$2,013$1,443$1,015$702$479$226
31 years$1,927$1,364$946$645$433$198
32 years$1,847$1,291$883$593$392$174
33 years$1,771$1,223$824$545$355$153
34 years$1,700$1,159$770$501$321$134
35 years$1,634$1,099$720$462$291$117
36 years$1,571$1,043$674$425$264$103
37 years$1,511$991$630$392$239$90
38 years$1,455$942$590$361$217$79
39 years$1,402$895$553$333$196$70
40 years$1,352$852$518$307$178$61
41 years$1,304$811$486$283$162$54
42 years$1,259$772$456$261$147$47
43 years$1,216$736$428$241$133$41
44 years$1,175$701$402$223$121$36
45 years$1,136$669$377$206$110$32
46 years$1,099$638$354$190$100$28
47 years$1,063$609$333$176$90$25
48 years$1,029$581$313$162$82$22
49 years$997$555$294$150$75$19
50 years$966$530$276$139$68$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $989,000, adding $2,275 every year, while hoping to spend $32,078 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: 85/5/10 Blend
53$989,000$989,000$989,000$989,000
54$1,092,225$1,039,808$1,024,478$1,183,288
55$1,169,501$1,056,627$1,024,667$1,259,948
56$1,253,584$1,073,196$1,023,788$1,339,586
57$1,345,135$1,089,468$1,021,770$1,426,089
58$1,444,880$1,105,393$1,018,541$1,520,128
59$1,553,619$1,120,919$1,014,023$1,622,440
60$1,672,232$1,135,988$1,008,137$1,733,840
61$1,801,688$1,150,540$1,000,798$1,855,223
62$1,943,054$1,164,510$991,919$1,987,575
63$2,097,504$1,177,829$981,406$2,131,983
64$2,266,329$1,190,423$969,163$2,289,645
65$2,450,954$1,202,212$955,089$2,461,878
66$2,652,944$1,213,114$939,077$2,650,134
67$2,874,024$1,223,037$921,016$2,856,014
68$3,116,095$1,231,886$900,791$3,081,280
69$3,381,249$1,239,560$878,279$3,327,874
70$3,671,788$1,245,950$853,353$3,597,935
71$3,990,250$1,250,942$825,881$3,893,820
72$4,339,430$1,254,412$795,722$4,218,125
73$4,722,404$1,256,231$762,731$4,573,711
74$5,142,563$1,256,260$726,756$4,963,731
75$5,603,640$1,254,352$687,638$5,391,658
76$6,109,748$1,250,352$645,210$5,861,320
77$6,665,416$1,244,093$599,299$6,376,932
78$7,275,636$1,235,401$549,723$6,943,142
79$7,945,904$1,224,089$496,292$7,565,070
80$8,682,277$1,209,959$438,808$8,248,357
81$9,491,424$1,192,803$377,063$8,999,220
82$10,380,697$1,172,398$310,842$9,824,511
83$11,358,192$1,148,509$239,919$10,731,777
84$12,432,829$1,120,888$164,058$11,729,338
85$13,614,437$1,089,270$83,013$12,826,360
86$14,913,842$1,053,377$0$14,032,944
87$16,342,975$1,012,913$0$15,360,593
88$17,914,979$967,567$0$16,830,679
89$19,644,335$917,006$0$18,447,883
90$21,547,000$860,882$0$20,227,131
91$23,640,553$798,824$0$22,184,873
92$25,944,365$730,442$0$24,339,231
93$28,479,778$655,322$0$26,710,176
94$31,270,310$573,028$0$29,319,714
95$34,341,873$483,097$0$32,192,091
96$37,723,018$385,042$0$35,354,026
97$41,445,205$278,349$0$38,834,961
98$45,543,100$162,472$0$42,667,338
99$50,054,901$36,838$0$46,886,908
100$55,022,697$0$0$51,533,064