Can I retire at age 54 with 997,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%18.6%
1 years$82,331$81,598$80,882$80,184$79,502$76,742
2 years$40,758$39,999$39,263$38,550$37,858$35,106
3 years$26,902$26,140$25,406$24,699$24,019$21,361
4 years$19,976$19,216$18,489$17,795$17,130$14,588
5 years$15,821$15,065$14,348$13,668$13,022$10,601
6 years$13,052$12,302$11,596$10,930$10,304$8,006
7 years$11,075$10,331$9,636$8,986$8,380$6,205
8 years$9,592$8,856$8,172$7,538$6,952$4,898
9 years$8,440$7,710$7,039$6,421$5,855$3,919
10 years$7,519$6,796$6,136$5,535$4,988$3,168
11 years$6,766$6,050$5,402$4,817$4,290$2,581
12 years$6,139$5,431$4,794$4,225$3,718$2,116
13 years$5,608$4,908$4,284$3,730$3,242$1,744
14 years$5,154$4,461$3,849$3,311$2,842$1,443
15 years$4,761$4,075$3,475$2,953$2,502$1,197
16 years$4,417$3,739$3,151$2,644$2,211$997
17 years$4,114$3,443$2,867$2,376$1,961$831
18 years$3,845$3,182$2,617$2,141$1,744$694
19 years$3,605$2,949$2,396$1,935$1,554$581
20 years$3,388$2,740$2,199$1,752$1,388$487
21 years$3,193$2,552$2,022$1,590$1,242$408
22 years$3,016$2,383$1,864$1,446$1,113$343
23 years$2,854$2,228$1,721$1,317$999$288
24 years$2,706$2,088$1,592$1,201$898$242
25 years$2,570$1,959$1,474$1,097$808$204
26 years$2,445$1,841$1,367$1,003$728$171
27 years$2,329$1,733$1,270$918$657$144
28 years$2,222$1,633$1,180$841$592$121
29 years$2,122$1,541$1,098$771$535$102
30 years$2,029$1,455$1,023$708$483$86
31 years$1,943$1,375$954$650$437$72
32 years$1,862$1,301$890$597$395$61
33 years$1,785$1,232$831$549$358$51
34 years$1,714$1,168$776$505$324$43
35 years$1,647$1,108$726$465$293$37
36 years$1,583$1,052$679$429$266$31
37 years$1,524$999$636$395$241$26
38 years$1,467$949$595$364$218$22
39 years$1,414$903$558$336$198$18
40 years$1,363$859$523$310$180$16
41 years$1,315$817$490$286$163$13
42 years$1,269$778$460$264$148$11
43 years$1,226$742$431$243$134$9
44 years$1,185$707$405$225$122$8
45 years$1,145$674$380$207$111$7
46 years$1,108$643$357$192$100$6
47 years$1,072$614$335$177$91$5
48 years$1,038$586$315$164$83$4
49 years$1,005$560$296$151$75$3
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 $5,570 every year, while hoping to spend $39,863 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: 76/13/11 Blend
53$997,000$997,000$997,000$997,000
54$1,104,439$1,051,598$1,036,145$1,185,688
55$1,174,678$1,060,713$1,028,442$1,249,099
56$1,250,746$1,068,938$1,019,145$1,312,988
57$1,333,194$1,076,188$1,008,158$1,381,901
58$1,422,630$1,082,371$995,382$1,456,320
59$1,519,722$1,087,392$980,711$1,536,782
60$1,625,205$1,091,145$964,036$1,623,875
61$1,739,888$1,093,523$945,243$1,718,248
62$1,864,658$1,094,408$924,211$1,820,617
63$2,000,495$1,093,676$900,814$1,931,769
64$2,148,476$1,091,196$874,921$2,052,574
65$2,309,784$1,086,828$846,395$2,183,988
66$2,485,724$1,080,424$815,091$2,327,069
67$2,677,730$1,071,828$780,859$2,482,979
68$2,887,383$1,060,871$743,542$2,653,000
69$3,116,421$1,047,379$702,975$2,838,547
70$3,366,758$1,031,163$658,987$3,041,178
71$3,640,502$1,012,024$611,398$3,262,611
72$3,939,973$989,754$560,020$3,504,738
73$4,267,727$964,128$504,657$3,769,648
74$4,626,577$934,913$445,105$4,059,643
75$5,019,622$901,857$381,150$4,377,257
76$5,450,272$864,697$312,567$4,725,289
77$5,922,286$823,153$239,125$5,106,820
78$6,439,803$776,931$160,579$5,525,249
79$7,007,380$725,718$76,675$5,984,322
80$7,630,037$669,182$0$6,488,169
81$8,313,304$606,975$0$7,042,851
82$9,063,272$538,728$0$7,661,579
83$9,886,649$464,050$0$8,340,910
84$10,790,828$382,529$0$9,086,978
85$11,783,949$293,729$0$9,906,541
86$12,874,980$197,190$0$10,807,048
87$14,073,802$92,427$0$11,796,707
88$15,391,300$0$0$12,884,566
89$16,839,464$0$0$14,083,607
90$18,431,507$0$0$15,416,351
91$20,181,981$0$0$16,881,765
92$22,106,924$0$0$18,493,280
93$24,224,001$0$0$20,265,691
94$26,552,679$0$0$22,215,300
95$29,114,404$0$0$24,360,068
96$31,932,805$0$0$26,719,785
97$35,033,918$0$0$29,316,255
98$38,446,430$0$0$32,173,503
99$42,201,948$0$0$35,318,001
100$46,335,300$0$0$38,778,916