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%15.2%
1 years$81,918$81,189$80,477$79,782$79,103$77,411
2 years$40,554$39,798$39,066$38,357$37,668$35,972
3 years$26,767$26,009$25,279$24,576$23,898$22,250
4 years$19,875$19,119$18,396$17,705$17,044$15,458
5 years$15,741$14,990$14,276$13,599$12,957$11,436
6 years$12,986$12,240$11,537$10,876$10,252$8,799
7 years$11,019$10,279$9,588$8,941$8,338$6,952
8 years$9,544$8,811$8,131$7,501$6,917$5,598
9 years$8,398$7,672$7,003$6,389$5,825$4,573
10 years$7,481$6,762$6,106$5,507$4,963$3,776
11 years$6,732$6,020$5,375$4,793$4,269$3,144
12 years$6,108$5,403$4,770$4,204$3,699$2,636
13 years$5,580$4,883$4,262$3,712$3,226$2,223
14 years$5,128$4,439$3,829$3,295$2,828$1,883
15 years$4,737$4,055$3,458$2,938$2,490$1,600
16 years$4,395$3,720$3,135$2,631$2,200$1,365
17 years$4,093$3,426$2,852$2,364$1,951$1,167
18 years$3,826$3,166$2,604$2,130$1,735$1,000
19 years$3,587$2,934$2,384$1,925$1,546$858
20 years$3,371$2,726$2,188$1,743$1,381$738
21 years$3,177$2,540$2,012$1,582$1,236$635
22 years$3,001$2,371$1,855$1,439$1,108$548
23 years$2,840$2,217$1,712$1,310$994$472
24 years$2,693$2,077$1,584$1,195$894$408
25 years$2,558$1,950$1,467$1,091$804$352
26 years$2,433$1,832$1,360$998$725$305
27 years$2,318$1,724$1,263$913$653$264
28 years$2,211$1,625$1,174$837$589$228
29 years$2,112$1,533$1,093$767$532$198
30 years$2,019$1,448$1,018$704$481$171
31 years$1,933$1,368$949$647$435$148
32 years$1,852$1,295$885$594$393$128
33 years$1,777$1,226$827$547$356$111
34 years$1,705$1,162$772$503$322$97
35 years$1,639$1,102$722$463$292$84
36 years$1,576$1,046$676$426$264$73
37 years$1,516$994$632$393$240$63
38 years$1,460$944$592$362$217$55
39 years$1,407$898$555$334$197$47
40 years$1,356$854$520$308$179$41
41 years$1,308$813$488$284$162$36
42 years$1,263$775$457$262$147$31
43 years$1,220$738$429$242$134$27
44 years$1,179$703$403$224$121$23
45 years$1,139$671$378$206$110$20
46 years$1,102$640$355$191$100$18
47 years$1,066$611$334$176$91$15
48 years$1,032$583$314$163$82$13
49 years$1,000$557$295$150$75$11
50 years$969$532$277$139$68$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $992,000, adding $6,004 every year, while hoping to spend $23,611 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: 83/5/12 Blend
53$992,000$992,000$992,000$992,000
54$1,099,377$1,046,801$1,031,425$1,187,814
55$1,186,392$1,072,972$1,040,856$1,272,799
56$1,281,490$1,099,635$1,049,811$1,362,363
57$1,385,473$1,126,787$1,058,251$1,460,017
58$1,499,220$1,154,429$1,066,130$1,566,560
59$1,623,700$1,182,555$1,073,406$1,682,874
60$1,759,981$1,211,165$1,080,029$1,809,929
61$1,909,240$1,240,252$1,085,950$1,948,793
62$2,072,769$1,269,811$1,091,116$2,100,645
63$2,251,995$1,299,836$1,095,472$2,266,781
64$2,448,488$1,330,317$1,098,960$2,448,629
65$2,663,977$1,361,246$1,101,518$2,647,763
66$2,900,367$1,392,611$1,103,084$2,865,917
67$3,159,756$1,424,400$1,103,588$3,105,000
68$3,444,454$1,456,599$1,102,961$3,367,118
69$3,757,007$1,489,191$1,101,129$3,654,588
70$4,100,218$1,522,158$1,098,014$3,969,964
71$4,477,178$1,555,481$1,093,535$4,316,061
72$4,891,287$1,589,137$1,087,605$4,695,978
73$5,346,295$1,623,101$1,080,137$5,113,133
74$5,846,331$1,657,347$1,071,035$5,571,289
75$6,395,943$1,691,844$1,060,201$6,074,594
76$7,000,145$1,726,560$1,047,534$6,627,617
77$7,664,458$1,761,459$1,032,924$7,235,394
78$8,394,964$1,796,502$1,016,259$7,903,473
79$9,198,368$1,831,648$997,421$8,637,969
80$10,082,053$1,866,850$976,286$9,445,617
81$11,054,156$1,902,059$952,725$10,333,841
82$12,123,640$1,937,221$926,601$11,310,822
83$13,300,384$1,972,277$897,775$12,385,573
84$14,595,270$2,007,165$866,097$13,568,026
85$16,020,289$2,041,818$831,413$14,869,127
86$17,588,653$2,076,162$793,560$16,300,937
87$19,314,921$2,110,119$752,370$17,876,746
88$21,215,133$2,143,605$707,664$19,611,201
89$23,306,965$2,176,530$659,259$21,520,440
90$25,609,892$2,208,796$606,961$23,622,249
91$28,145,374$2,240,301$550,568$25,936,225
92$30,937,059$2,270,932$489,868$28,483,966
93$34,011,002$2,300,572$424,643$31,289,272
94$37,395,917$2,329,092$354,660$34,378,369
95$41,123,440$2,356,357$279,681$37,780,158
96$45,228,434$2,382,222$199,454$41,526,488
97$49,749,316$2,406,532$113,716$45,652,457
98$54,728,416$2,429,122$22,196$50,196,740
99$60,212,381$2,449,816$0$55,201,960
100$66,252,614$2,468,426$0$60,724,748