Can I retire at age 54 with 996,000?

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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$82,249$81,516$80,801$80,104$79,422$78,790
2 years$40,717$39,959$39,224$38,511$37,820$37,183
3 years$26,875$26,114$25,380$24,675$23,995$23,372
4 years$19,956$19,196$18,470$17,777$17,113$16,510
5 years$15,805$15,050$14,334$13,654$13,009$12,427
6 years$13,039$12,290$11,584$10,919$10,294$9,733
7 years$11,063$10,321$9,626$8,977$8,372$7,834
8 years$9,583$8,847$8,164$7,531$6,945$6,429
9 years$8,432$7,703$7,032$6,415$5,849$5,355
10 years$7,511$6,790$6,130$5,530$4,983$4,512
11 years$6,759$6,044$5,397$4,812$4,286$3,835
12 years$6,132$5,425$4,790$4,221$3,714$3,285
13 years$5,603$4,903$4,279$3,727$3,239$2,830
14 years$5,149$4,456$3,845$3,308$2,839$2,450
15 years$4,756$4,071$3,471$2,950$2,500$2,131
16 years$4,413$3,735$3,147$2,642$2,209$1,859
17 years$4,110$3,440$2,864$2,373$1,959$1,627
18 years$3,841$3,179$2,614$2,139$1,742$1,428
19 years$3,601$2,946$2,393$1,933$1,552$1,256
20 years$3,385$2,737$2,197$1,750$1,387$1,106
21 years$3,190$2,550$2,020$1,589$1,241$976
22 years$3,013$2,380$1,862$1,444$1,112$863
23 years$2,851$2,226$1,719$1,315$998$764
24 years$2,704$2,086$1,590$1,200$897$677
25 years$2,568$1,957$1,473$1,096$808$600
26 years$2,443$1,840$1,366$1,002$727$533
27 years$2,327$1,731$1,268$917$656$473
28 years$2,220$1,631$1,179$840$592$421
29 years$2,120$1,539$1,097$770$534$374
30 years$2,027$1,453$1,022$707$483$333
31 years$1,941$1,374$953$649$437$296
32 years$1,860$1,300$889$597$395$264
33 years$1,784$1,231$830$549$357$235
34 years$1,712$1,167$776$505$324$210
35 years$1,645$1,107$725$465$293$187
36 years$1,582$1,050$678$428$266$167
37 years$1,522$998$635$394$241$149
38 years$1,466$948$595$364$218$133
39 years$1,412$902$557$335$198$118
40 years$1,362$858$522$309$179$106
41 years$1,314$817$490$285$163$94
42 years$1,268$778$459$263$148$84
43 years$1,225$741$431$243$134$75
44 years$1,183$706$404$224$122$67
45 years$1,144$674$380$207$110$60
46 years$1,107$643$357$191$100$53
47 years$1,071$613$335$177$91$48
48 years$1,036$585$315$163$83$43
49 years$1,004$559$296$151$75$38
50 years$972$534$278$140$68$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $996,000, adding $3,055 every year, while hoping to spend $43,711 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: 51/38/11 Blend
53$996,000$996,000$996,000$996,000
54$1,100,743$1,047,955$1,032,517$1,153,523
55$1,166,511$1,052,797$1,020,598$1,194,752
56$1,237,522$1,056,411$1,006,815$1,234,644
57$1,314,265$1,058,691$991,059$1,277,005
58$1,397,277$1,059,523$973,217$1,322,079
59$1,487,148$1,058,789$953,168$1,370,136
60$1,584,528$1,056,360$930,790$1,421,476
61$1,690,129$1,052,102$905,951$1,476,432
62$1,804,738$1,045,870$878,516$1,535,372
63$1,929,216$1,037,512$848,341$1,598,705
64$2,064,513$1,026,868$815,278$1,666,882
65$2,211,674$1,013,765$779,171$1,740,406
66$2,371,848$998,023$739,856$1,819,830
67$2,546,299$979,448$697,163$1,905,771
68$2,736,418$957,838$650,915$1,998,907
69$2,943,737$932,976$600,925$2,099,994
70$3,169,941$904,635$546,999$2,209,865
71$3,416,885$872,572$488,933$2,329,444
72$3,686,610$836,531$426,516$2,459,752
73$3,981,366$796,243$359,526$2,601,920
74$4,303,627$751,420$287,731$2,757,198
75$4,656,117$701,760$210,891$2,926,969
76$5,041,837$646,943$128,752$3,112,765
77$5,464,091$586,629$41,051$3,316,276
78$5,926,516$520,462$0$3,539,375
79$6,433,119$448,063$0$3,790,295
80$6,988,312$369,032$0$4,070,700
81$7,596,953$282,948$0$4,378,328
82$8,264,394$189,364$0$4,716,010
83$8,996,529$87,810$0$5,086,870
84$9,799,852$0$0$5,494,359
85$10,681,511$0$0$5,951,574
86$11,649,386$0$0$6,493,912
87$12,712,152$0$0$7,089,530
88$13,879,367$0$0$7,743,797
89$15,161,562$0$0$8,462,631
90$16,570,336$0$0$9,252,548
91$18,118,467$0$0$10,120,728
92$19,820,032$0$0$11,075,083
93$21,690,542$0$0$12,124,325
94$23,747,084$0$0$13,278,058
95$26,008,482$0$0$14,546,858
96$28,495,477$0$0$15,942,380
97$31,230,921$0$0$17,477,466
98$34,239,990$0$0$19,166,263
99$37,550,425$0$0$21,024,359
100$41,192,791$0$0$23,068,929