Can I retire at age 54 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$82,001$81,271$80,558$79,862$79,183$78,032
2 years$40,595$39,839$39,106$38,395$37,706$36,549
3 years$26,794$26,035$25,304$24,600$23,922$22,795
4 years$19,895$19,138$18,415$17,723$17,062$15,973
5 years$15,757$15,005$14,291$13,613$12,970$11,923
6 years$12,999$12,253$11,549$10,886$10,263$9,258
7 years$11,030$10,290$9,597$8,950$8,346$7,385
8 years$9,554$8,820$8,139$7,508$6,924$6,006
9 years$8,406$7,680$7,010$6,395$5,831$4,955
10 years$7,489$6,769$6,112$5,513$4,968$4,135
11 years$6,739$6,026$5,381$4,798$4,273$3,480
12 years$6,114$5,409$4,775$4,208$3,703$2,950
13 years$5,586$4,888$4,266$3,715$3,229$2,516
14 years$5,133$4,443$3,833$3,298$2,831$2,155
15 years$4,742$4,059$3,461$2,941$2,492$1,854
16 years$4,399$3,724$3,138$2,634$2,203$1,600
17 years$4,098$3,429$2,855$2,366$1,953$1,385
18 years$3,830$3,169$2,607$2,132$1,737$1,201
19 years$3,590$2,937$2,386$1,927$1,548$1,044
20 years$3,375$2,729$2,190$1,745$1,383$909
21 years$3,180$2,542$2,014$1,584$1,237$793
22 years$3,004$2,373$1,857$1,440$1,109$692
23 years$2,843$2,219$1,714$1,312$995$605
24 years$2,695$2,079$1,585$1,196$895$530
25 years$2,560$1,951$1,468$1,092$805$464
26 years$2,435$1,834$1,362$999$725$407
27 years$2,320$1,726$1,265$914$654$357
28 years$2,213$1,626$1,176$838$590$313
29 years$2,114$1,534$1,094$768$533$275
30 years$2,021$1,449$1,019$705$481$241
31 years$1,935$1,370$950$647$435$212
32 years$1,854$1,296$886$595$394$186
33 years$1,778$1,227$828$547$356$164
34 years$1,707$1,163$773$503$323$144
35 years$1,640$1,103$723$463$292$127
36 years$1,577$1,047$676$427$265$112
37 years$1,518$995$633$393$240$98
38 years$1,461$945$593$362$218$86
39 years$1,408$899$555$334$197$76
40 years$1,358$855$521$308$179$67
41 years$1,310$814$488$284$162$59
42 years$1,264$775$458$262$147$52
43 years$1,221$739$430$242$134$46
44 years$1,180$704$403$224$121$40
45 years$1,141$671$379$207$110$35
46 years$1,103$641$356$191$100$31
47 years$1,067$611$334$176$91$27
48 years$1,033$584$314$163$82$24
49 years$1,001$557$295$151$75$21
50 years$970$532$277$139$68$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $993,000, adding $5,842 every year, while hoping to spend $47,058 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: 57/33/10 Blend
53$993,000$993,000$993,000$993,000
54$1,100,312$1,047,683$1,032,292$1,160,046
55$1,162,475$1,048,950$1,016,804$1,202,287
56$1,229,400$1,048,702$999,220$1,242,545
57$1,301,526$1,046,815$979,421$1,285,277
58$1,379,330$1,043,158$957,280$1,330,725
59$1,463,339$1,037,590$932,666$1,379,157
60$1,554,132$1,029,964$905,443$1,430,873
61$1,652,343$1,020,122$875,465$1,486,202
62$1,758,673$1,007,899$842,584$1,545,509
63$1,873,889$993,117$806,641$1,609,201
64$1,998,835$975,589$767,473$1,677,726
65$2,134,441$955,118$724,908$1,751,582
66$2,281,727$931,492$678,767$1,831,319
67$2,441,819$904,491$628,861$1,917,546
68$2,615,952$873,878$574,995$2,010,939
69$2,805,486$839,405$516,964$2,112,245
70$3,011,917$800,808$454,555$2,222,291
71$3,236,894$757,808$387,543$2,341,992
72$3,482,227$710,111$315,696$2,472,360
73$3,749,912$657,404$238,769$2,614,516
74$4,042,145$599,359$156,510$2,769,697
75$4,361,342$535,626$68,651$2,939,276
76$4,710,165$465,837$0$3,124,767
77$5,091,542$389,604$0$3,330,526
78$5,508,700$306,515$0$3,563,716
79$5,965,189$216,136$0$3,819,086
80$6,464,920$118,008$0$4,098,933
81$7,012,199$11,648$0$4,405,794
82$7,611,768$0$0$4,742,470
83$8,268,849$0$0$5,149,625
84$8,989,193$0$0$5,600,704
85$9,779,136$0$0$6,095,457
86$10,645,655$0$0$6,638,265
87$11,596,432$0$0$7,233,953
88$12,639,935$0$0$7,887,836
89$13,785,485$0$0$8,605,770
90$15,043,355$0$0$9,394,204
91$16,424,857$0$0$10,260,245
92$17,942,455$0$0$11,211,718
93$19,609,880$0$0$12,257,246
94$21,442,257$0$0$13,406,329
95$23,456,249$0$0$14,669,433
96$25,670,216$0$0$16,058,086
97$28,104,382$0$0$17,584,992
98$30,781,031$0$0$19,264,144
99$33,724,713$0$0$21,110,963
100$36,962,478$0$0$23,142,437