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%14.8%
1 years$81,918$81,189$80,477$79,782$79,103$77,538
2 years$40,554$39,798$39,066$38,357$37,668$36,098
3 years$26,767$26,009$25,279$24,576$23,898$22,372
4 years$19,875$19,119$18,396$17,705$17,044$15,573
5 years$15,741$14,990$14,276$13,599$12,957$11,546
6 years$12,986$12,240$11,537$10,876$10,252$8,903
7 years$11,019$10,279$9,588$8,941$8,338$7,050
8 years$9,544$8,811$8,131$7,501$6,917$5,690
9 years$8,398$7,672$7,003$6,389$5,825$4,659
10 years$7,481$6,762$6,106$5,507$4,963$3,856
11 years$6,732$6,020$5,375$4,793$4,269$3,220
12 years$6,108$5,403$4,770$4,204$3,699$2,707
13 years$5,580$4,883$4,262$3,712$3,226$2,288
14 years$5,128$4,439$3,829$3,295$2,828$1,943
15 years$4,737$4,055$3,458$2,938$2,490$1,657
16 years$4,395$3,720$3,135$2,631$2,200$1,417
17 years$4,093$3,426$2,852$2,364$1,951$1,215
18 years$3,826$3,166$2,604$2,130$1,735$1,044
19 years$3,587$2,934$2,384$1,925$1,546$899
20 years$3,371$2,726$2,188$1,743$1,381$775
21 years$3,177$2,540$2,012$1,582$1,236$669
22 years$3,001$2,371$1,855$1,439$1,108$579
23 years$2,840$2,217$1,712$1,310$994$501
24 years$2,693$2,077$1,584$1,195$894$434
25 years$2,558$1,950$1,467$1,091$804$376
26 years$2,433$1,832$1,360$998$725$326
27 years$2,318$1,724$1,263$913$653$283
28 years$2,211$1,625$1,174$837$589$246
29 years$2,112$1,533$1,093$767$532$214
30 years$2,019$1,448$1,018$704$481$186
31 years$1,933$1,368$949$647$435$161
32 years$1,852$1,295$885$594$393$140
33 years$1,777$1,226$827$547$356$122
34 years$1,705$1,162$772$503$322$106
35 years$1,639$1,102$722$463$292$92
36 years$1,576$1,046$676$426$264$80
37 years$1,516$994$632$393$240$70
38 years$1,460$944$592$362$217$61
39 years$1,407$898$555$334$197$53
40 years$1,356$854$520$308$179$46
41 years$1,308$813$488$284$162$40
42 years$1,263$775$457$262$147$35
43 years$1,220$738$429$242$134$30
44 years$1,179$703$403$224$121$27
45 years$1,139$671$378$206$110$23
46 years$1,102$640$355$191$100$20
47 years$1,066$611$334$176$91$18
48 years$1,032$583$314$163$82$15
49 years$1,000$557$295$150$75$13
50 years$969$532$277$139$68$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $992,000, adding $5,997 every year, while hoping to spend $38,209 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: 36/50/14 Blend
53$992,000$992,000$992,000$992,000
54$1,099,370$1,046,794$1,031,418$1,134,014
55$1,170,852$1,057,433$1,025,316$1,170,156
56$1,248,344$1,067,312$1,017,730$1,205,067
57$1,332,419$1,076,355$1,008,568$1,241,926
58$1,423,708$1,084,478$997,737$1,280,925
59$1,522,902$1,091,594$985,137$1,322,280
60$1,630,765$1,097,609$970,666$1,366,227
61$1,748,134$1,102,423$954,215$1,413,033
62$1,875,932$1,105,930$935,670$1,462,991
63$2,015,175$1,108,018$914,912$1,516,429
64$2,166,979$1,108,567$891,818$1,573,707
65$2,332,575$1,107,451$866,257$1,635,229
66$2,513,314$1,104,533$838,094$1,701,442
67$2,710,688$1,099,671$807,186$1,772,841
68$2,926,337$1,092,713$773,385$1,849,975
69$3,162,064$1,083,497$736,534$1,933,454
70$3,419,859$1,071,853$696,473$2,023,953
71$3,701,910$1,057,599$653,030$2,122,220
72$4,010,627$1,040,543$606,028$2,229,087
73$4,348,663$1,020,482$555,283$2,345,471
74$4,718,941$997,200$500,599$2,472,392
75$5,124,679$970,468$441,775$2,610,976
76$5,569,421$940,046$378,599$2,762,473
77$6,057,070$905,676$310,850$2,928,266
78$6,591,926$867,089$238,298$3,109,885
79$7,178,723$823,998$160,702$3,309,023
80$7,822,679$776,099$77,812$3,527,554
81$8,529,537$723,073$0$3,767,552
82$9,305,626$664,580$0$4,032,901
83$10,157,918$600,263$0$4,337,055
84$11,094,092$529,742$0$4,671,225
85$12,122,608$452,618$0$5,038,559
86$13,252,786$368,468$0$5,442,530
87$14,494,892$276,845$0$5,886,978
88$15,860,238$177,277$0$6,376,143
89$17,361,286$69,267$0$6,914,706
90$19,011,764$0$0$7,507,840
91$20,826,800$0$0$8,187,502
92$22,823,058$0$0$8,977,098
93$25,018,900$0$0$9,845,799
94$27,434,557$0$0$10,801,628
95$30,092,318$0$0$11,853,425
96$33,016,743$0$0$13,010,932
97$36,234,892$0$0$14,284,880
98$39,776,581$0$0$15,687,097
99$43,674,663$0$0$17,230,613
100$47,965,336$0$0$18,929,785