Can I retire at age 54 with 997,000?

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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$82,331$81,598$80,882$80,184$79,502$76,896
2 years$40,758$39,999$39,263$38,550$37,858$35,257
3 years$26,902$26,140$25,406$24,699$24,019$21,505
4 years$19,976$19,216$18,489$17,795$17,130$14,723
5 years$15,821$15,065$14,348$13,668$13,022$10,727
6 years$13,052$12,302$11,596$10,930$10,304$8,124
7 years$11,075$10,331$9,636$8,986$8,380$6,314
8 years$9,592$8,856$8,172$7,538$6,952$4,999
9 years$8,440$7,710$7,039$6,421$5,855$4,012
10 years$7,519$6,796$6,136$5,535$4,988$3,253
11 years$6,766$6,050$5,402$4,817$4,290$2,659
12 years$6,139$5,431$4,794$4,225$3,718$2,188
13 years$5,608$4,908$4,284$3,730$3,242$1,809
14 years$5,154$4,461$3,849$3,311$2,842$1,502
15 years$4,761$4,075$3,475$2,953$2,502$1,251
16 years$4,417$3,739$3,151$2,644$2,211$1,045
17 years$4,114$3,443$2,867$2,376$1,961$875
18 years$3,845$3,182$2,617$2,141$1,744$733
19 years$3,605$2,949$2,396$1,935$1,554$616
20 years$3,388$2,740$2,199$1,752$1,388$518
21 years$3,193$2,552$2,022$1,590$1,242$436
22 years$3,016$2,383$1,864$1,446$1,113$368
23 years$2,854$2,228$1,721$1,317$999$310
24 years$2,706$2,088$1,592$1,201$898$262
25 years$2,570$1,959$1,474$1,097$808$221
26 years$2,445$1,841$1,367$1,003$728$187
27 years$2,329$1,733$1,270$918$657$158
28 years$2,222$1,633$1,180$841$592$133
29 years$2,122$1,541$1,098$771$535$113
30 years$2,029$1,455$1,023$708$483$95
31 years$1,943$1,375$954$650$437$81
32 years$1,862$1,301$890$597$395$68
33 years$1,785$1,232$831$549$358$58
34 years$1,714$1,168$776$505$324$49
35 years$1,647$1,108$726$465$293$41
36 years$1,583$1,052$679$429$266$35
37 years$1,524$999$636$395$241$30
38 years$1,467$949$595$364$218$25
39 years$1,414$903$558$336$198$21
40 years$1,363$859$523$310$180$18
41 years$1,315$817$490$286$163$15
42 years$1,269$778$460$264$148$13
43 years$1,226$742$431$243$134$11
44 years$1,185$707$405$225$122$9
45 years$1,145$674$380$207$111$8
46 years$1,108$643$357$192$100$7
47 years$1,072$614$335$177$91$6
48 years$1,038$586$315$164$83$5
49 years$1,005$560$296$151$75$4
50 years$973$534$279$140$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $997,000, adding $3,752 every year, while hoping to spend $44,339 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: 47/23/30 Blend
53$997,000$997,000$997,000$997,000
54$1,102,564$1,049,723$1,034,270$1,144,736
55$1,167,849$1,053,983$1,021,741$1,179,229
56$1,238,308$1,056,966$1,007,307$1,212,069
57$1,314,420$1,058,562$990,857$1,246,882
58$1,396,714$1,058,655$972,274$1,283,875
59$1,485,772$1,057,122$951,438$1,323,285
60$1,582,231$1,053,831$928,221$1,365,369
61$1,686,793$1,048,644$902,492$1,410,417
62$1,800,231$1,041,412$874,110$1,458,751
63$1,923,393$1,031,980$842,931$1,510,727
64$2,057,213$1,020,181$808,804$1,566,741
65$2,202,718$1,005,840$771,568$1,627,235
66$2,361,039$988,769$731,059$1,692,697
67$2,533,418$968,772$687,102$1,763,671
68$2,721,223$945,638$639,517$1,840,757
69$2,925,961$919,147$588,114$1,924,623
70$3,149,287$889,064$532,694$2,016,011
71$3,393,027$855,141$473,052$2,115,741
72$3,659,187$817,114$408,971$2,224,722
73$3,949,978$774,707$340,225$2,343,962
74$4,267,833$727,624$266,579$2,474,578
75$4,615,430$675,556$187,788$2,617,806
76$4,995,718$618,172$103,593$2,775,015
77$5,411,946$555,127$13,728$2,947,720
78$5,867,689$486,053$0$3,137,597
79$6,366,885$410,561$0$3,372,808
80$6,913,870$328,242$0$3,635,499
81$7,513,422$238,662$0$3,923,641
82$8,170,799$141,365$0$4,239,847
83$8,891,795$35,867$0$4,586,999
84$9,682,792$0$0$4,968,280
85$10,550,818$0$0$5,407,027
86$11,503,614$0$0$5,898,702
87$12,549,708$0$0$6,438,642
88$13,698,496$0$0$7,031,712
89$14,960,323$0$0$7,683,270
90$16,346,592$0$0$8,399,218
91$17,869,860$0$0$9,186,058
92$19,543,963$0$0$10,050,955
93$21,384,143$0$0$11,001,801
94$23,407,192$0$0$12,047,291
95$25,631,610$0$0$13,197,005
96$28,077,781$0$0$14,461,498
97$30,768,162$0$0$15,852,399
98$33,727,495$0$0$17,382,520
99$36,983,040$0$0$19,065,979
100$40,564,834$0$0$20,918,330