Can I retire at age 54 with 990,000?

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 $990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$81,753$81,025$80,315$79,621$78,944$78,022
2 years$40,472$39,718$38,988$38,279$37,592$36,665
3 years$26,713$25,956$25,228$24,526$23,850$22,945
4 years$19,835$19,081$18,359$17,670$17,010$16,135
5 years$15,710$14,959$14,248$13,572$12,931$12,088
6 years$12,960$12,215$11,514$10,854$10,232$9,422
7 years$10,997$10,259$9,568$8,923$8,321$7,545
8 years$9,525$8,793$8,115$7,486$6,903$6,161
9 years$8,381$7,656$6,989$6,376$5,813$5,104
10 years$7,466$6,749$6,093$5,496$4,953$4,277
11 years$6,718$6,008$5,364$4,783$4,260$3,616
12 years$6,095$5,392$4,761$4,196$3,692$3,079
13 years$5,569$4,873$4,253$3,704$3,219$2,637
14 years$5,118$4,430$3,822$3,288$2,822$2,270
15 years$4,727$4,046$3,451$2,932$2,485$1,962
16 years$4,386$3,713$3,128$2,626$2,196$1,701
17 years$4,085$3,419$2,847$2,359$1,947$1,480
18 years$3,818$3,159$2,599$2,126$1,731$1,290
19 years$3,579$2,928$2,379$1,921$1,543$1,127
20 years$3,365$2,721$2,183$1,740$1,378$987
21 years$3,171$2,534$2,008$1,579$1,233$865
22 years$2,995$2,366$1,851$1,436$1,106$759
23 years$2,834$2,213$1,709$1,308$992$667
24 years$2,687$2,073$1,581$1,193$892$587
25 years$2,552$1,946$1,464$1,089$803$517
26 years$2,428$1,829$1,358$996$723$456
27 years$2,313$1,721$1,261$912$652$402
28 years$2,206$1,622$1,172$835$588$355
29 years$2,107$1,530$1,091$766$531$313
30 years$2,015$1,445$1,016$703$480$277
31 years$1,929$1,366$947$646$434$245
32 years$1,848$1,292$884$593$392$216
33 years$1,773$1,224$825$546$355$191
34 years$1,702$1,160$771$502$322$169
35 years$1,635$1,100$721$462$291$150
36 years$1,572$1,044$674$426$264$132
37 years$1,513$992$631$392$239$117
38 years$1,457$942$591$361$217$104
39 years$1,404$896$554$333$197$92
40 years$1,353$853$519$307$178$81
41 years$1,306$812$487$284$162$72
42 years$1,260$773$456$262$147$64
43 years$1,217$737$428$242$133$57
44 years$1,176$702$402$223$121$50
45 years$1,137$669$378$206$110$44
46 years$1,100$639$355$190$100$39
47 years$1,064$609$333$176$91$35
48 years$1,030$582$313$162$82$31
49 years$998$556$294$150$75$27
50 years$967$531$277$139$68$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $990,000, adding $4,920 every year, while hoping to spend $21,216 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: 30/49/21 Blend
53$990,000$990,000$990,000$990,000
54$1,096,055$1,043,585$1,028,240$1,121,620
55$1,185,279$1,072,147$1,040,112$1,170,080
56$1,282,893$1,101,397$1,051,671$1,219,939
57$1,389,730$1,131,348$1,062,884$1,273,132
58$1,506,707$1,162,009$1,073,716$1,329,963
59$1,634,836$1,193,392$1,084,130$1,390,762
60$1,775,229$1,225,508$1,094,089$1,455,895
61$1,929,112$1,258,368$1,103,550$1,525,763
62$2,097,834$1,291,981$1,112,472$1,600,809
63$2,282,883$1,326,357$1,120,809$1,681,520
64$2,485,895$1,361,507$1,128,515$1,768,432
65$2,708,675$1,397,439$1,135,538$1,862,135
66$2,953,208$1,434,162$1,141,827$1,963,278
67$3,221,684$1,471,684$1,147,327$2,072,578
68$3,516,512$1,510,014$1,151,979$2,190,823
69$3,840,349$1,549,157$1,155,723$2,318,882
70$4,196,120$1,589,120$1,158,494$2,457,711
71$4,587,046$1,629,910$1,160,226$2,608,363
72$5,016,680$1,671,530$1,160,848$2,772,000
73$5,488,931$1,713,985$1,160,287$2,949,901
74$6,008,109$1,757,277$1,158,464$3,143,475
75$6,578,962$1,801,409$1,155,298$3,354,275
76$7,206,719$1,846,382$1,150,703$3,584,012
77$7,897,144$1,892,194$1,144,591$3,834,572
78$8,656,585$1,938,844$1,136,867$4,108,032
79$9,492,038$1,986,328$1,127,434$4,406,682
80$10,411,210$2,034,643$1,116,187$4,733,046
81$11,422,594$2,083,781$1,103,020$5,089,905
82$12,535,547$2,133,734$1,087,820$5,480,323
83$13,760,378$2,184,493$1,070,467$5,907,677
84$15,108,447$2,236,043$1,050,838$6,375,691
85$16,592,272$2,288,372$1,028,804$6,888,466
86$18,225,643$2,341,462$1,004,228$7,450,525
87$20,023,759$2,395,294$976,970$8,066,850
88$22,003,364$2,449,845$946,880$8,742,935
89$24,182,909$2,505,090$913,804$9,484,833
90$26,582,728$2,561,001$877,578$10,299,215
91$29,225,223$2,617,547$838,033$11,193,436
92$32,135,080$2,674,691$794,992$12,175,600
93$35,339,503$2,732,395$748,268$13,254,641
94$38,868,466$2,790,617$697,669$14,440,403
95$42,754,999$2,849,307$642,991$15,743,738
96$47,035,501$2,908,415$584,023$17,176,607
97$51,750,078$2,967,883$520,544$18,752,193
98$56,942,926$3,027,649$452,322$20,485,023
99$62,662,746$3,087,645$379,116$22,391,113
100$68,963,204$3,147,798$300,675$24,488,110