Can I retire at age 54 with 994,000?

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 $994,000?

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$82,084$81,352$80,639$79,943$79,263$77,567
2 years$40,635$39,879$39,145$38,434$37,744$36,044
3 years$26,821$26,061$25,330$24,625$23,947$22,295
4 years$19,915$19,158$18,433$17,741$17,079$15,489
5 years$15,773$15,020$14,305$13,627$12,983$11,459
6 years$13,012$12,265$11,561$10,897$10,273$8,816
7 years$11,041$10,300$9,607$8,959$8,355$6,966
8 years$9,564$8,829$8,147$7,516$6,931$5,609
9 years$8,415$7,687$7,017$6,402$5,837$4,582
10 years$7,496$6,776$6,118$5,518$4,973$3,783
11 years$6,745$6,032$5,386$4,803$4,277$3,151
12 years$6,120$5,414$4,780$4,213$3,707$2,642
13 years$5,591$4,893$4,271$3,719$3,232$2,227
14 years$5,139$4,447$3,837$3,301$2,833$1,886
15 years$4,747$4,063$3,464$2,944$2,495$1,604
16 years$4,404$3,728$3,141$2,636$2,205$1,368
17 years$4,102$3,433$2,858$2,369$1,955$1,169
18 years$3,833$3,172$2,609$2,135$1,738$1,002
19 years$3,594$2,940$2,389$1,929$1,549$860
20 years$3,378$2,732$2,192$1,747$1,384$739
21 years$3,184$2,545$2,016$1,585$1,238$637
22 years$3,007$2,375$1,858$1,442$1,110$549
23 years$2,846$2,222$1,716$1,313$996$473
24 years$2,698$2,082$1,587$1,197$896$409
25 years$2,563$1,953$1,470$1,094$806$353
26 years$2,438$1,836$1,363$1,000$726$305
27 years$2,322$1,728$1,266$915$655$264
28 years$2,215$1,628$1,177$839$591$229
29 years$2,116$1,536$1,095$769$533$198
30 years$2,023$1,451$1,020$706$482$171
31 years$1,937$1,371$951$648$436$149
32 years$1,856$1,297$887$596$394$129
33 years$1,780$1,229$828$548$357$112
34 years$1,709$1,165$774$504$323$97
35 years$1,642$1,105$724$464$292$84
36 years$1,579$1,048$677$427$265$73
37 years$1,519$996$634$394$240$63
38 years$1,463$946$593$363$218$55
39 years$1,409$900$556$335$197$47
40 years$1,359$856$521$309$179$41
41 years$1,311$815$489$285$162$36
42 years$1,266$776$458$263$147$31
43 years$1,222$739$430$243$134$27
44 years$1,181$705$404$224$121$23
45 years$1,142$672$379$207$110$20
46 years$1,104$641$356$191$100$18
47 years$1,069$612$334$177$91$15
48 years$1,034$584$314$163$83$13
49 years$1,002$558$295$151$75$12
50 years$970$533$278$139$68$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $994,000, adding $2,749 every year, while hoping to spend $50,526 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: 40/30/30 Blend
53$994,000$994,000$994,000$994,000
54$1,098,224$1,045,542$1,030,135$1,132,336
55$1,156,483$1,043,014$1,010,885$1,154,963
56$1,218,992$1,038,669$989,297$1,174,567
57$1,286,129$1,032,364$965,239$1,194,833
58$1,358,313$1,023,949$938,573$1,215,853
59$1,436,002$1,013,263$909,155$1,237,736
60$1,519,697$1,000,136$876,835$1,260,603
61$1,609,952$984,388$841,455$1,284,591
62$1,707,373$965,829$802,850$1,309,858
63$1,812,627$944,256$760,847$1,336,580
64$1,926,446$919,456$715,267$1,364,957
65$2,049,637$891,203$665,921$1,395,215
66$2,183,083$859,255$612,614$1,427,608
67$2,327,760$823,361$555,138$1,462,421
68$2,484,736$783,250$493,280$1,499,976
69$2,655,190$738,640$426,815$1,540,632
70$2,840,415$689,230$355,510$1,584,793
71$3,041,838$634,702$279,120$1,632,912
72$3,261,024$574,721$197,389$1,685,495
73$3,499,697$508,932$110,051$1,743,107
74$3,759,757$436,960$16,827$1,806,382
75$4,043,289$358,408$0$1,876,024
76$4,352,593$272,858$0$1,979,281
77$4,690,198$179,869$0$2,098,039
78$5,058,888$78,973$0$2,227,987
79$5,461,729$0$0$2,370,318
80$5,902,095$0$0$2,536,368
81$6,383,701$0$0$2,746,604
82$6,910,638$0$0$2,976,757
83$7,487,411$0$0$3,228,810
84$8,118,979$0$0$3,504,949
85$8,810,804$0$0$3,807,577
86$9,568,901$0$0$4,139,345
87$10,399,895$0$0$4,503,171
88$11,311,082$0$0$4,902,268
89$12,310,498$0$0$5,340,175
90$13,406,993$0$0$5,820,792
91$14,610,317$0$0$6,348,413
92$15,931,208$0$0$6,927,769
93$17,381,494$0$0$7,564,072
94$18,974,207$0$0$8,263,063
95$20,723,701$0$0$9,031,066
96$22,645,788$0$0$9,875,047
97$24,757,888$0$0$10,802,684
98$27,079,192$0$0$11,822,431
99$29,630,843$0$0$12,943,606
100$32,436,135$0$0$14,176,471