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%18.7%
1 years$81,918$81,189$80,477$79,782$79,103$76,327
2 years$40,554$39,798$39,066$38,357$37,668$34,900
3 years$26,767$26,009$25,279$24,576$23,898$21,226
4 years$19,875$19,119$18,396$17,705$17,044$14,488
5 years$15,741$14,990$14,276$13,599$12,957$10,523
6 years$12,986$12,240$11,537$10,876$10,252$7,942
7 years$11,019$10,279$9,588$8,941$8,338$6,152
8 years$9,544$8,811$8,131$7,501$6,917$4,853
9 years$8,398$7,672$7,003$6,389$5,825$3,881
10 years$7,481$6,762$6,106$5,507$4,963$3,135
11 years$6,732$6,020$5,375$4,793$4,269$2,553
12 years$6,108$5,403$4,770$4,204$3,699$2,092
13 years$5,580$4,883$4,262$3,712$3,226$1,722
14 years$5,128$4,439$3,829$3,295$2,828$1,424
15 years$4,737$4,055$3,458$2,938$2,490$1,181
16 years$4,395$3,720$3,135$2,631$2,200$982
17 years$4,093$3,426$2,852$2,364$1,951$819
18 years$3,826$3,166$2,604$2,130$1,735$683
19 years$3,587$2,934$2,384$1,925$1,546$571
20 years$3,371$2,726$2,188$1,743$1,381$478
21 years$3,177$2,540$2,012$1,582$1,236$401
22 years$3,001$2,371$1,855$1,439$1,108$336
23 years$2,840$2,217$1,712$1,310$994$282
24 years$2,693$2,077$1,584$1,195$894$237
25 years$2,558$1,950$1,467$1,091$804$199
26 years$2,433$1,832$1,360$998$725$167
27 years$2,318$1,724$1,263$913$653$141
28 years$2,211$1,625$1,174$837$589$118
29 years$2,112$1,533$1,093$767$532$100
30 years$2,019$1,448$1,018$704$481$84
31 years$1,933$1,368$949$647$435$71
32 years$1,852$1,295$885$594$393$59
33 years$1,777$1,226$827$547$356$50
34 years$1,705$1,162$772$503$322$42
35 years$1,639$1,102$722$463$292$35
36 years$1,576$1,046$676$426$264$30
37 years$1,516$994$632$393$240$25
38 years$1,460$944$592$362$217$21
39 years$1,407$898$555$334$197$18
40 years$1,356$854$520$308$179$15
41 years$1,308$813$488$284$162$13
42 years$1,263$775$457$262$147$11
43 years$1,220$738$429$242$134$9
44 years$1,179$703$403$224$121$8
45 years$1,139$671$378$206$110$6
46 years$1,102$640$355$191$100$5
47 years$1,066$611$334$176$91$5
48 years$1,032$583$314$163$82$4
49 years$1,000$557$295$150$75$3
50 years$969$532$277$139$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $992,000, adding $5,855 every year, while hoping to spend $49,284 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: 47/43/10 Blend
53$992,000$992,000$992,000$992,000
54$1,099,223$1,046,647$1,031,271$1,147,588
55$1,158,906$1,045,495$1,013,381$1,180,363
56$1,223,025$1,042,635$993,240$1,210,320
57$1,291,980$1,037,931$970,720$1,241,709
58$1,366,212$1,031,238$945,688$1,274,678
59$1,446,201$1,022,405$918,005$1,309,393
60$1,532,480$1,011,270$887,525$1,346,043
61$1,625,631$997,659$854,094$1,384,834
62$1,726,293$981,392$817,554$1,426,001
63$1,835,170$962,276$777,738$1,469,804
64$1,953,036$940,106$734,470$1,516,533
65$2,080,741$914,666$687,570$1,566,512
66$2,219,219$885,727$636,846$1,620,102
67$2,369,498$853,047$582,100$1,677,707
68$2,532,710$816,369$523,123$1,739,775
69$2,710,097$775,422$459,698$1,806,804
70$2,903,027$729,918$391,598$1,879,352
71$3,113,007$679,555$318,587$1,958,036
72$3,341,691$624,010$240,418$2,043,543
73$3,590,902$562,946$156,830$2,136,639
74$3,862,646$496,002$67,556$2,238,173
75$4,159,130$422,801$0$2,349,087
76$4,482,785$342,941$0$2,473,387
77$4,836,284$256,000$0$2,617,164
78$5,222,572$161,531$0$2,774,524
79$5,644,890$59,062$0$2,946,935
80$6,106,808$0$0$3,136,019
81$6,612,254$0$0$3,368,134
82$7,165,557$0$0$3,652,928
83$7,771,481$0$0$3,964,921
84$8,435,272$0$0$4,306,827
85$9,162,709$0$0$4,681,639
86$9,960,157$0$0$5,092,650
87$10,834,625$0$0$5,543,489
88$11,793,832$0$0$6,038,153
89$12,846,281$0$0$6,581,043
90$14,001,339$0$0$7,177,008
91$15,269,322$0$0$7,831,389
92$16,661,595$0$0$8,550,071
93$18,190,675$0$0$9,339,534
94$19,870,354$0$0$10,206,919
95$21,715,823$0$0$11,160,093
96$23,743,820$0$0$12,207,720
97$25,972,780$0$0$13,359,348
98$28,423,018$0$0$14,625,495
99$31,116,913$0$0$16,017,749
100$34,079,119$0$0$17,548,878