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%11.5%
1 years$82,331$81,598$80,882$80,184$79,502$79,001
2 years$40,758$39,999$39,263$38,550$37,858$37,353
3 years$26,902$26,140$25,406$24,699$24,019$23,525
4 years$19,976$19,216$18,489$17,795$17,130$16,651
5 years$15,821$15,065$14,348$13,668$13,022$12,560
6 years$13,052$12,302$11,596$10,930$10,304$9,859
7 years$11,075$10,331$9,636$8,986$8,380$7,952
8 years$9,592$8,856$8,172$7,538$6,952$6,541
9 years$8,440$7,710$7,039$6,421$5,855$5,461
10 years$7,519$6,796$6,136$5,535$4,988$4,612
11 years$6,766$6,050$5,402$4,817$4,290$3,930
12 years$6,139$5,431$4,794$4,225$3,718$3,374
13 years$5,608$4,908$4,284$3,730$3,242$2,915
14 years$5,154$4,461$3,849$3,311$2,842$2,530
15 years$4,761$4,075$3,475$2,953$2,502$2,206
16 years$4,417$3,739$3,151$2,644$2,211$1,930
17 years$4,114$3,443$2,867$2,376$1,961$1,694
18 years$3,845$3,182$2,617$2,141$1,744$1,491
19 years$3,605$2,949$2,396$1,935$1,554$1,315
20 years$3,388$2,740$2,199$1,752$1,388$1,162
21 years$3,193$2,552$2,022$1,590$1,242$1,028
22 years$3,016$2,383$1,864$1,446$1,113$912
23 years$2,854$2,228$1,721$1,317$999$809
24 years$2,706$2,088$1,592$1,201$898$719
25 years$2,570$1,959$1,474$1,097$808$640
26 years$2,445$1,841$1,367$1,003$728$570
27 years$2,329$1,733$1,270$918$657$508
28 years$2,222$1,633$1,180$841$592$453
29 years$2,122$1,541$1,098$771$535$404
30 years$2,029$1,455$1,023$708$483$361
31 years$1,943$1,375$954$650$437$322
32 years$1,862$1,301$890$597$395$288
33 years$1,785$1,232$831$549$358$257
34 years$1,714$1,168$776$505$324$230
35 years$1,647$1,108$726$465$293$206
36 years$1,583$1,052$679$429$266$184
37 years$1,524$999$636$395$241$165
38 years$1,467$949$595$364$218$148
39 years$1,414$903$558$336$198$132
40 years$1,363$859$523$310$180$118
41 years$1,315$817$490$286$163$106
42 years$1,269$778$460$264$148$95
43 years$1,226$742$431$243$134$85
44 years$1,185$707$405$225$122$76
45 years$1,145$674$380$207$111$68
46 years$1,108$643$357$192$100$61
47 years$1,072$614$335$177$91$55
48 years$1,038$586$315$164$83$49
49 years$1,005$560$296$151$75$44
50 years$973$534$279$140$68$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $997,000, adding $2,597 every year, while hoping to spend $24,388 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: 62/24/14 Blend
53$997,000$997,000$997,000$997,000
54$1,101,373$1,048,532$1,033,078$1,165,743
55$1,187,764$1,073,961$1,041,738$1,234,705
56$1,282,150$1,099,819$1,049,870$1,306,945
57$1,385,320$1,126,101$1,057,431$1,385,213
58$1,498,144$1,152,801$1,064,377$1,470,095
59$1,621,579$1,179,913$1,070,657$1,562,237
60$1,756,679$1,207,427$1,076,223$1,662,348
61$1,904,604$1,235,335$1,081,021$1,771,213
62$2,066,633$1,263,626$1,084,995$1,889,694
63$2,244,174$1,292,288$1,088,086$2,018,741
64$2,438,776$1,321,307$1,090,233$2,159,401
65$2,652,148$1,350,667$1,091,372$2,312,828
66$2,886,168$1,380,351$1,091,435$2,480,291
67$3,142,909$1,410,340$1,090,349$2,663,191
68$3,424,651$1,440,612$1,088,042$2,863,071
69$3,733,908$1,471,145$1,084,434$3,081,630
70$4,073,448$1,501,912$1,079,443$3,320,741
71$4,446,318$1,532,885$1,072,983$3,582,468
72$4,855,880$1,564,032$1,064,965$3,869,085
73$5,305,831$1,595,322$1,055,293$4,183,098
74$5,800,249$1,626,716$1,043,869$4,527,269
75$6,343,624$1,658,175$1,030,588$4,904,641
76$6,940,904$1,689,655$1,015,343$5,318,567
77$7,597,538$1,721,110$998,019$5,772,743
78$8,319,532$1,752,490$978,497$6,271,243
79$9,113,501$1,783,739$956,654$6,818,554
80$9,986,734$1,814,798$932,358$7,419,623
81$10,947,263$1,845,605$905,474$8,079,902
82$12,003,934$1,876,090$875,858$8,805,398
83$13,166,498$1,906,181$843,361$9,602,732
84$14,445,695$1,935,798$807,828$10,479,201
85$15,853,361$1,964,857$769,096$11,442,847
86$17,402,537$1,993,268$726,993$12,502,531
87$19,107,590$2,020,933$681,342$13,668,022
88$20,984,354$2,047,748$631,957$14,950,084
89$23,050,274$2,073,603$578,642$16,360,579
90$25,324,570$2,098,378$521,196$17,912,582
91$27,828,425$2,121,948$459,404$19,620,501
92$30,585,176$2,144,175$393,046$21,500,218
93$33,620,542$2,164,917$321,891$23,569,232
94$36,962,858$2,184,019$245,695$25,846,832
95$40,643,350$2,201,317$164,207$28,354,275
96$44,696,427$2,216,636$77,163$31,114,987
97$49,160,002$2,229,791$0$34,154,786
98$54,075,855$2,240,584$0$37,504,476
99$59,490,024$2,248,803$0$41,205,521
100$65,453,238$2,254,226$0$45,280,984