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%12.9%
1 years$82,084$81,352$80,639$79,943$79,263$78,305
2 years$40,635$39,879$39,145$38,434$37,744$36,780
3 years$26,821$26,061$25,330$24,625$23,947$23,006
4 years$19,915$19,158$18,433$17,741$17,079$16,170
5 years$15,773$15,020$14,305$13,627$12,983$12,108
6 years$13,012$12,265$11,561$10,897$10,273$9,432
7 years$11,041$10,300$9,607$8,959$8,355$7,549
8 years$9,564$8,829$8,147$7,516$6,931$6,161
9 years$8,415$7,687$7,017$6,402$5,837$5,101
10 years$7,496$6,776$6,118$5,518$4,973$4,272
11 years$6,745$6,032$5,386$4,803$4,277$3,609
12 years$6,120$5,414$4,780$4,213$3,707$3,072
13 years$5,591$4,893$4,271$3,719$3,232$2,629
14 years$5,139$4,447$3,837$3,301$2,833$2,262
15 years$4,747$4,063$3,464$2,944$2,495$1,953
16 years$4,404$3,728$3,141$2,636$2,205$1,693
17 years$4,102$3,433$2,858$2,369$1,955$1,471
18 years$3,833$3,172$2,609$2,135$1,738$1,282
19 years$3,594$2,940$2,389$1,929$1,549$1,119
20 years$3,378$2,732$2,192$1,747$1,384$979
21 years$3,184$2,545$2,016$1,585$1,238$857
22 years$3,007$2,375$1,858$1,442$1,110$752
23 years$2,846$2,222$1,716$1,313$996$661
24 years$2,698$2,082$1,587$1,197$896$581
25 years$2,563$1,953$1,470$1,094$806$511
26 years$2,438$1,836$1,363$1,000$726$450
27 years$2,322$1,728$1,266$915$655$397
28 years$2,215$1,628$1,177$839$591$350
29 years$2,116$1,536$1,095$769$533$309
30 years$2,023$1,451$1,020$706$482$272
31 years$1,937$1,371$951$648$436$240
32 years$1,856$1,297$887$596$394$212
33 years$1,780$1,229$828$548$357$188
34 years$1,709$1,165$774$504$323$166
35 years$1,642$1,105$724$464$292$147
36 years$1,579$1,048$677$427$265$130
37 years$1,519$996$634$394$240$115
38 years$1,463$946$593$363$218$101
39 years$1,409$900$556$335$197$90
40 years$1,359$856$521$309$179$79
41 years$1,311$815$489$285$162$70
42 years$1,266$776$458$263$147$62
43 years$1,222$739$430$243$134$55
44 years$1,181$705$404$224$121$49
45 years$1,142$672$379$207$110$43
46 years$1,104$641$356$191$100$38
47 years$1,069$612$334$177$91$34
48 years$1,034$584$314$163$83$30
49 years$1,002$558$295$151$75$27
50 years$970$533$278$139$68$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $994,000, adding $6,121 every year, while hoping to spend $26,882 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: 69/19/12 Blend
53$994,000$994,000$994,000$994,000
54$1,101,702$1,049,020$1,033,613$1,174,452
55$1,185,473$1,071,820$1,039,637$1,246,364
56$1,276,888$1,094,835$1,044,961$1,321,198
57$1,376,698$1,118,050$1,049,535$1,402,363
58$1,485,730$1,141,443$1,053,303$1,490,479
59$1,604,895$1,164,994$1,056,209$1,586,226
60$1,735,194$1,188,679$1,058,192$1,690,355
61$1,877,732$1,212,472$1,059,189$1,803,692
62$2,033,723$1,236,346$1,059,135$1,927,147
63$2,204,506$1,260,270$1,057,959$2,061,723
64$2,391,554$1,284,211$1,055,589$2,208,526
65$2,596,490$1,308,135$1,051,949$2,368,771
66$2,821,101$1,332,003$1,046,958$2,543,802
67$3,067,355$1,355,773$1,040,533$2,735,095
68$3,337,420$1,379,400$1,032,585$2,944,280
69$3,633,683$1,402,837$1,023,023$3,173,151
70$3,958,774$1,426,031$1,011,749$3,423,684
71$4,315,589$1,448,927$998,663$3,698,060
72$4,707,320$1,471,465$983,659$3,998,680
73$5,137,481$1,493,581$966,626$4,328,189
74$5,609,944$1,515,206$947,448$4,689,503
75$6,128,973$1,536,267$926,003$5,085,837
76$6,699,269$1,556,684$902,164$5,520,732
77$7,326,007$1,576,374$875,799$5,998,090
78$8,014,889$1,595,246$846,768$6,522,212
79$8,772,199$1,613,204$814,925$7,097,839
80$9,604,857$1,630,145$780,120$7,730,195
81$10,520,491$1,645,961$742,192$8,425,036
82$11,527,501$1,660,533$700,975$9,188,708
83$12,635,144$1,673,737$656,297$10,028,203
84$13,853,621$1,685,442$607,974$10,951,228
85$15,194,167$1,695,506$555,818$11,966,275
86$16,669,164$1,703,778$499,630$13,082,705
87$18,292,255$1,710,099$439,204$14,310,834
88$20,078,470$1,714,299$374,322$15,662,030
89$22,044,372$1,716,197$304,760$17,148,824
90$24,208,209$1,715,603$230,281$18,785,024
91$26,590,091$1,712,311$150,640$20,585,849
92$29,212,173$1,706,107$65,579$22,568,072
93$32,098,868$1,696,760$0$24,750,177
94$35,277,079$1,684,027$0$27,155,764
95$38,776,447$1,667,651$0$29,813,228
96$42,629,636$1,647,357$0$32,738,945
97$46,872,636$1,622,855$0$35,960,225
98$51,545,108$1,593,838$0$39,507,162
99$56,690,754$1,559,980$0$43,412,922
100$62,357,728$1,520,937$0$47,714,052