Can I retire at age 54 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$82,414$81,680$80,964$80,265$79,582$78,231
2 years$40,799$40,039$39,303$38,589$37,896$36,540
3 years$26,929$26,166$25,431$24,724$24,043$22,723
4 years$19,996$19,235$18,508$17,812$17,148$15,874
5 years$15,837$15,080$14,363$13,682$13,035$11,812
6 years$13,065$12,314$11,607$10,941$10,314$9,142
7 years$11,086$10,341$9,646$8,995$8,388$7,268
8 years$9,602$8,865$8,180$7,546$6,959$5,890
9 years$8,449$7,718$7,046$6,428$5,860$4,843
10 years$7,527$6,803$6,143$5,541$4,993$4,026
11 years$6,773$6,056$5,408$4,822$4,294$3,376
12 years$6,145$5,436$4,799$4,230$3,722$2,851
13 years$5,614$4,913$4,288$3,734$3,245$2,421
14 years$5,159$4,465$3,853$3,315$2,845$2,066
15 years$4,766$4,079$3,478$2,956$2,505$1,770
16 years$4,422$3,743$3,154$2,647$2,214$1,521
17 years$4,118$3,447$2,870$2,378$1,963$1,311
18 years$3,849$3,185$2,620$2,143$1,745$1,132
19 years$3,608$2,952$2,398$1,937$1,556$980
20 years$3,392$2,743$2,201$1,754$1,389$849
21 years$3,196$2,555$2,024$1,592$1,243$737
22 years$3,019$2,385$1,866$1,447$1,115$641
23 years$2,857$2,231$1,723$1,318$1,000$558
24 years$2,709$2,090$1,593$1,202$899$486
25 years$2,573$1,961$1,476$1,098$809$423
26 years$2,448$1,843$1,369$1,004$729$369
27 years$2,332$1,735$1,271$919$657$322
28 years$2,224$1,635$1,181$842$593$282
29 years$2,124$1,542$1,099$772$535$246
30 years$2,031$1,456$1,024$709$484$215
31 years$1,945$1,377$955$651$437$188
32 years$1,863$1,303$891$598$396$164
33 years$1,787$1,234$832$550$358$144
34 years$1,716$1,169$777$506$324$126
35 years$1,648$1,109$727$466$294$110
36 years$1,585$1,053$680$429$266$96
37 years$1,525$1,000$636$395$241$84
38 years$1,469$950$596$364$219$74
39 years$1,415$903$558$336$198$65
40 years$1,364$860$523$310$180$57
41 years$1,316$818$491$286$163$50
42 years$1,271$779$460$264$148$43
43 years$1,227$742$432$244$134$38
44 years$1,186$708$405$225$122$33
45 years$1,146$675$381$208$111$29
46 years$1,109$644$357$192$101$26
47 years$1,073$614$336$177$91$22
48 years$1,039$587$316$164$83$20
49 years$1,006$560$297$151$75$17
50 years$974$535$279$140$68$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $998,000, adding $2,271 every year, while hoping to spend $31,074 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: 30/43/27 Blend
53$998,000$998,000$998,000$998,000
54$1,102,139$1,049,245$1,033,776$1,125,977
55$1,181,494$1,067,595$1,035,345$1,163,077
56$1,267,903$1,085,803$1,035,925$1,200,082
57$1,362,050$1,103,829$1,035,450$1,239,271
58$1,464,693$1,121,631$1,033,851$1,280,856
59$1,576,663$1,139,161$1,031,056$1,325,070
60$1,698,874$1,156,372$1,026,988$1,372,172
61$1,832,334$1,173,209$1,021,567$1,422,450
62$1,978,153$1,189,618$1,014,711$1,476,222
63$2,137,552$1,205,536$1,006,330$1,533,840
64$2,311,875$1,220,899$996,335$1,595,693
65$2,502,601$1,235,639$984,627$1,662,212
66$2,711,362$1,249,680$971,108$1,733,876
67$2,939,951$1,262,945$955,670$1,811,212
68$3,190,345$1,275,349$938,204$1,894,805
69$3,464,721$1,286,801$918,595$1,985,302
70$3,765,476$1,297,208$896,721$2,083,420
71$4,095,249$1,306,465$872,455$2,189,948
72$4,456,948$1,314,466$845,667$2,305,763
73$4,853,776$1,321,094$816,216$2,431,834
74$5,289,261$1,326,227$783,959$2,569,229
75$5,767,287$1,329,734$748,743$2,719,134
76$6,292,136$1,331,477$710,411$2,882,856
77$6,868,522$1,331,307$668,798$3,061,842
78$7,501,638$1,329,068$623,730$3,257,690
79$8,197,207$1,324,594$575,027$3,472,166
80$8,961,532$1,317,709$522,500$3,707,221
81$9,801,556$1,308,225$465,952$3,965,013
82$10,724,931$1,295,944$405,177$4,247,924
83$11,740,083$1,280,654$339,960$4,558,584
84$12,856,299$1,262,134$270,076$4,899,901
85$14,083,809$1,240,146$195,291$5,275,085
86$15,433,884$1,214,440$115,360$5,687,680
87$16,918,943$1,184,750$30,027$6,141,603
88$18,552,669$1,150,796$0$6,641,174
89$20,350,136$1,112,280$0$7,208,750
90$22,327,955$1,068,887$0$7,842,392
91$24,504,428$1,020,284$0$8,539,337
92$26,899,721$966,119$0$9,306,094
93$29,536,052$906,019$0$10,149,839
94$32,437,905$839,589$0$11,078,489
95$35,632,256$766,414$0$12,100,772
96$39,148,830$686,052$0$13,226,316
97$43,020,380$598,038$0$14,465,739
98$47,282,996$501,879$0$15,830,749
99$51,976,448$397,057$0$17,334,259
100$57,144,554$283,022$0$18,990,508