Can I retire at age 54 with 991,000?

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 $991,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$81,836$81,107$80,396$79,702$79,024$76,464
2 years$40,513$39,758$39,027$38,318$37,630$35,075
3 years$26,740$25,982$25,253$24,551$23,874$21,404
4 years$19,855$19,100$18,378$17,687$17,027$14,661
5 years$15,725$14,975$14,262$13,586$12,944$10,688
6 years$12,973$12,228$11,526$10,865$10,242$8,098
7 years$11,008$10,269$9,578$8,932$8,330$6,298
8 years$9,535$8,802$8,123$7,493$6,910$4,989
9 years$8,389$7,664$6,996$6,382$5,819$4,006
10 years$7,474$6,755$6,099$5,502$4,958$3,251
11 years$6,725$6,014$5,370$4,788$4,264$2,659
12 years$6,102$5,398$4,766$4,200$3,695$2,189
13 years$5,575$4,878$4,258$3,708$3,222$1,811
14 years$5,123$4,434$3,826$3,291$2,825$1,505
15 years$4,732$4,051$3,454$2,935$2,487$1,254
16 years$4,391$3,716$3,132$2,628$2,198$1,048
17 years$4,089$3,423$2,850$2,362$1,949$878
18 years$3,822$3,163$2,601$2,128$1,733$737
19 years$3,583$2,931$2,381$1,923$1,545$620
20 years$3,368$2,724$2,186$1,742$1,380$521
21 years$3,174$2,537$2,010$1,581$1,235$439
22 years$2,998$2,368$1,853$1,437$1,107$371
23 years$2,837$2,215$1,711$1,309$993$313
24 years$2,690$2,075$1,582$1,194$893$264
25 years$2,555$1,948$1,465$1,090$804$223
26 years$2,430$1,830$1,359$997$724$189
27 years$2,315$1,723$1,262$912$653$160
28 years$2,209$1,623$1,173$836$589$135
29 years$2,110$1,531$1,092$767$532$114
30 years$2,017$1,446$1,017$704$480$97
31 years$1,931$1,367$948$646$434$82
32 years$1,850$1,294$885$594$393$69
33 years$1,775$1,225$826$546$356$59
34 years$1,704$1,161$772$502$322$50
35 years$1,637$1,101$721$463$292$42
36 years$1,574$1,045$675$426$264$36
37 years$1,515$993$632$392$239$30
38 years$1,458$943$592$362$217$26
39 years$1,405$897$554$334$197$22
40 years$1,355$854$519$308$179$18
41 years$1,307$812$487$284$162$16
42 years$1,262$774$457$262$147$13
43 years$1,219$737$429$242$133$11
44 years$1,177$703$402$223$121$9
45 years$1,138$670$378$206$110$8
46 years$1,101$639$355$190$100$7
47 years$1,065$610$333$176$91$6
48 years$1,031$582$313$163$82$5
49 years$999$556$295$150$75$4
50 years$968$531$277$139$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $991,000, adding $2,870 every year, while hoping to spend $51,995 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: 28/50/22 Blend
53$991,000$991,000$991,000$991,000
54$1,095,042$1,042,519$1,027,159$1,118,054
55$1,151,414$1,038,281$1,006,246$1,131,992
56$1,211,794$1,032,091$982,891$1,142,171
57$1,276,534$1,023,801$956,955$1,152,011
58$1,346,024$1,013,251$928,297$1,161,515
59$1,420,689$1,000,271$896,765$1,170,692
60$1,500,998$984,682$862,205$1,179,557
61$1,587,462$966,295$824,452$1,188,131
62$1,680,648$944,907$783,335$1,196,445
63$1,781,172$920,306$738,675$1,204,536
64$1,889,717$892,267$690,286$1,212,455
65$2,007,030$860,549$637,972$1,220,262
66$2,133,932$824,902$581,530$1,228,032
67$2,271,328$785,056$520,745$1,235,855
68$2,420,209$740,730$455,396$1,243,839
69$2,581,668$691,623$385,249$1,252,111
70$2,756,906$637,420$310,063$1,260,820
71$2,947,243$577,786$229,583$1,270,141
72$3,154,132$512,368$143,544$1,280,278
73$3,379,171$440,792$51,671$1,291,463
74$3,624,119$362,663$0$1,303,968
75$3,890,910$277,565$0$1,328,989
76$4,181,673$185,056$0$1,369,645
77$4,498,752$84,672$0$1,414,274
78$4,844,725$0$0$1,463,412
79$5,222,431$0$0$1,530,911
80$5,634,995$0$0$1,655,675
81$6,085,856$0$0$1,792,177
82$6,578,802$0$0$1,941,581
83$7,118,003$0$0$2,105,173
84$7,708,049$0$0$2,284,367
85$8,353,996$0$0$2,480,718
86$9,061,411$0$0$2,695,943
87$9,836,425$0$0$2,931,929
88$10,685,788$0$0$3,190,758
89$11,616,937$0$0$3,474,721
90$12,638,061$0$0$3,786,340
91$13,758,180$0$0$4,128,396
92$14,987,229$0$0$4,503,951
93$16,336,151$0$0$4,916,379
94$17,817,000$0$0$5,369,394
95$19,443,054$0$0$5,867,090
96$21,228,940$0$0$6,413,977
97$23,190,771$0$0$7,015,022
98$25,346,299$0$0$7,675,699
99$27,715,077$0$0$8,402,037
100$30,318,650$0$0$9,200,679