Can I retire at age 54 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$81,918$81,189$80,477$79,782$79,103$76,085
2 years$40,554$39,798$39,066$38,357$37,668$34,663
3 years$26,767$26,009$25,279$24,576$23,898$21,000
4 years$19,875$19,119$18,396$17,705$17,044$14,276
5 years$15,741$14,990$14,276$13,599$12,957$10,325
6 years$12,986$12,240$11,537$10,876$10,252$7,759
7 years$11,019$10,279$9,588$8,941$8,338$5,983
8 years$9,544$8,811$8,131$7,501$6,917$4,697
9 years$8,398$7,672$7,003$6,389$5,825$3,738
10 years$7,481$6,762$6,106$5,507$4,963$3,004
11 years$6,732$6,020$5,375$4,793$4,269$2,434
12 years$6,108$5,403$4,770$4,204$3,699$1,983
13 years$5,580$4,883$4,262$3,712$3,226$1,624
14 years$5,128$4,439$3,829$3,295$2,828$1,335
15 years$4,737$4,055$3,458$2,938$2,490$1,101
16 years$4,395$3,720$3,135$2,631$2,200$911
17 years$4,093$3,426$2,852$2,364$1,951$754
18 years$3,826$3,166$2,604$2,130$1,735$626
19 years$3,587$2,934$2,384$1,925$1,546$520
20 years$3,371$2,726$2,188$1,743$1,381$433
21 years$3,177$2,540$2,012$1,582$1,236$361
22 years$3,001$2,371$1,855$1,439$1,108$301
23 years$2,840$2,217$1,712$1,310$994$251
24 years$2,693$2,077$1,584$1,195$894$209
25 years$2,558$1,950$1,467$1,091$804$175
26 years$2,433$1,832$1,360$998$725$146
27 years$2,318$1,724$1,263$913$653$122
28 years$2,211$1,625$1,174$837$589$102
29 years$2,112$1,533$1,093$767$532$85
30 years$2,019$1,448$1,018$704$481$71
31 years$1,933$1,368$949$647$435$60
32 years$1,852$1,295$885$594$393$50
33 years$1,777$1,226$827$547$356$42
34 years$1,705$1,162$772$503$322$35
35 years$1,639$1,102$722$463$292$29
36 years$1,576$1,046$676$426$264$24
37 years$1,516$994$632$393$240$20
38 years$1,460$944$592$362$217$17
39 years$1,407$898$555$334$197$14
40 years$1,356$854$520$308$179$12
41 years$1,308$813$488$284$162$10
42 years$1,263$775$457$262$147$8
43 years$1,220$738$429$242$134$7
44 years$1,179$703$403$224$121$6
45 years$1,139$671$378$206$110$5
46 years$1,102$640$355$191$100$4
47 years$1,066$611$334$176$91$3
48 years$1,032$583$314$163$82$3
49 years$1,000$557$295$150$75$2
50 years$969$532$277$139$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $992,000, adding $4,887 every year, while hoping to spend $43,006 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: 33/38/29 Blend
53$992,000$992,000$992,000$992,000
54$1,098,225$1,045,649$1,030,273$1,124,673
55$1,164,486$1,051,128$1,019,029$1,150,732
56$1,236,064$1,055,434$1,005,967$1,174,653
57$1,313,456$1,058,464$990,981$1,199,606
58$1,397,209$1,060,108$973,959$1,225,713
59$1,487,923$1,060,252$954,785$1,253,110
60$1,586,257$1,058,771$933,336$1,281,953
61$1,692,939$1,055,534$909,487$1,312,415
62$1,808,766$1,050,402$883,102$1,344,690
63$1,934,616$1,043,228$854,042$1,378,999
64$2,071,456$1,033,855$822,161$1,415,585
65$2,220,348$1,022,118$787,307$1,454,724
66$2,382,461$1,007,840$749,320$1,496,724
67$2,559,083$990,835$708,033$1,541,927
68$2,751,629$970,905$663,271$1,590,717
69$2,961,658$947,842$614,853$1,643,525
70$3,190,884$921,423$562,588$1,700,828
71$3,441,196$891,415$506,277$1,763,159
72$3,714,672$857,569$445,711$1,831,114
73$4,013,601$819,622$380,675$1,905,356
74$4,340,502$777,297$310,941$1,986,621
75$4,698,149$730,299$236,273$2,075,730
76$5,089,595$678,319$156,423$2,173,597
77$5,518,204$621,027$71,134$2,281,236
78$5,987,679$558,076$0$2,399,775
79$6,502,100$489,099$0$2,536,621
80$7,065,957$413,708$0$2,710,899
81$7,684,198$331,493$0$2,902,212
82$8,362,271$242,021$0$3,112,367
83$9,106,178$144,835$0$3,343,365
84$9,922,528$39,452$0$3,597,414
85$10,818,603$0$0$3,876,960
86$11,802,423$0$0$4,215,913
87$12,882,822$0$0$4,606,412
88$14,069,533$0$0$5,035,497
89$15,373,279$0$0$5,507,065
90$16,805,868$0$0$6,025,408
91$18,380,314$0$0$6,595,255
92$20,110,951$0$0$7,221,817
93$22,013,573$0$0$7,910,835
94$24,105,577$0$0$8,668,633
95$26,406,135$0$0$9,502,179
96$28,936,366$0$0$10,419,152
97$31,719,541$0$0$11,428,010
98$34,781,296$0$0$12,538,073
99$38,149,880$0$0$13,759,612
100$41,856,419$0$0$15,103,942